Both forms are low-interest loans that are insured by the federal government. The unsubsidized Federal Stafford Loan is not based on financial need. You can use the unsubsidized Federal Stafford Loan to meet unmet financial need or to replace an expected family contribution. Repayment of principal is deferred on both the subsidized and unsubsidized Federal Stafford Loans so long as you are enrolled at least half-time as a student. There is no penalty for prepayment.
Deferments are available under certain conditions once repayment begins.
This loan is available to law students for unmet financial needs. Repayment of principal and interest begins 9 months after you cease to be enrolled at least half-time and extends to 10 years. Private Lenders Private lenders such as LawLoans, LawAchiever Loans, and Law Access provide private student loan programs for students enrolled in law schools accredited by the American Bar Association. Students must have applied for the Federal Stafford Loan before becoming eligible for these loans. The annual limit is the cost of education minus other aid received.