Compare the Best Law School Loans of 2026

The federal grad PLUS loan program is being discontinued for new borrowers on July 1, 2026. This significantly changes the options available for financing a law degree, as grad PLUS loans have historically allowed graduate and professional students to cover their full education costs with federal loans.

For years, grad PLUS loans have been a go-to for law school students because they help fill the funding gap left after reaching borrowing limits on federal Direct Unsubsidized Loans. The grad PLUS program was set up to allow students to borrow up to their school’s full cost of attendance, minus any other financial aid received.

Without grad PLUS as an option, law students will face stricter federal borrowing limits and may need to rethink how they plan to pay for advanced degrees. While the government is increasing the annual borrowing cap for Direct Unsubsidized Loans for law students to $50,000 from $20,500, the cost of law school (including tuition, fees, and living expenses) is likely to exceed the higher limit for many students.

Students who already took out a grad PLUS loan for law school before the July 2026 deadline may be able to continue borrowing under the old rules for up to three years or until graduation if they remain in the same degree program. For others, early financial planning becomes more important, as alternatives such as scholarships, grants, savings, employer assistance, and private student loans are likely to play a larger role in paying for law school.

Law school student loans are graduate-level education loans used to cover the cost of earning a Juris Doctor (J.D.) degree. These loans can help you pay for law school tuition, books, bar exam prep, and living expenses such as rent and transportation. The U.S. Department of Education categorizes law school as a graduate professional degree program, which, under new rules effective in July 2026, has higher borrowing caps than other types of graduate programs. 

There are two main types of student loans you can use to pay for law school: federal student loans issued by the Department of Education, and private law school loans offered by banks, credit unions, and online lenders. Many law students use a combination of both to fully fund their education.

The right loan for law school depends on your credit, career plans, and need for flexible repayment options. Before borrowing, it's important to understand how federal and private loans compare. Each offers its own advantages and trade-offs, from interest rate structures to repayment flexibility.

Note: Federal student loan rates are set by Congress annually and usually announced in mid-to-late May.

1. Get prequalified law school loan rates

With Credible, you can compare law school student loan rates from multiple private lenders with no impact on your credit score. Simply enter your basic personal and academic information to instantly view prequalified rates and estimated terms from top lenders matched to your profile.

2. Compare top law school student loan lenders

Review the best private law school loans side-by-side to find the right fit. Pay attention to interest rate options (fixed vs. variable), repayment flexibility, fees, borrower perks like rate reductions or forbearance options, and the lender's overall reputation.

3. Choose the best law school loan for your needs

Once you've compared lenders, pick the private law school loan that best suits your budget and goals. Consider applying with a cosigner. Doing so could help you qualify for a lower interest rate. If you decide to use a cosigner, be ready to provide their financial and contact details when you apply.

4. Complete your law school loan application

To apply for a law school loan, gather the necessary documentation, including a government-issued ID, income verification (like tax returns or recent pay stubs), and proof of law school enrollment. Then, fill out the student loan application with your chosen lender, upload your documents, and submit for approval.

How much you can borrow for law school now depends on when you take out your loans.

For federal loans disbursed before July 1, 2026, law students can borrow up to $20,500 per year in Direct Unsubsidized Loans. They may also use grad PLUS loans to borrow up to their school’s full certified cost of attendance, minus other financial aid.

Grad PLUS loans will no longer be available for new borrowers on or after July 1, 2026. Instead, federal borrowing for graduate and professional students will be capped at $50,000 per year. While the new annual cap more than doubles the previous amount, law students may no longer be able to cover the full cost of attendance through federal student loans.

Private lenders typically allow borrowing up to your school’s full certified cost of attendance, and some offer lifetime limits of $500,000 or more, depending on your credit profile. However, private loans have credit-based approval requirements and don’t include federal protections like income-driven repayment or loan forgiveness.

To qualify for a private law school loan, lenders typically require:

• A good credit score (usually mid- to high-600s or above)
• Verifiable income or a cosigner with income
• A relatively low debt-to-income (DTI) ratio (varies by lender)
• Enrollment in an eligible law degree program

If you don't meet these requirements on your own, applying for a law school loan with a cosigner can improve your chances of approval and help you secure a lower interest rate.

Interest on most law school loans begins accruing once the funds are disbursed, even while you're still attending school. Federal loans come with fixed rates, while private lenders may offer fixed or variable rates depending on your credit profile.

• Federal loans: Fixed rates set annually by Congress, unaffected by your credit
• Private loans: Credit-based rates, which may be fixed (stable) or variable (fluctuate with the market)

Some private lenders offer in-school deferment, letting you postpone full repayment during law school or bar prep. Making interest-only payments during this time can reduce your total cost over time.

While federal student loans are usually the best first choice to pay for law school, private law school loans can play an important role if you've hit federal borrowing limits or qualify for a lower interest rate based on your credit. Before taking out a private loan, it's important to weigh the potential advantages against the limitations. Here's a closer look at the pros and cons:

Law school can be expensive, but careful planning can help reduce how much you need to borrow. Consider these cost-saving strategies:

• Apply for scholarships and grants for law students
• Work part-time or find paid legal internships
• Explore loan repayment assistance programs (LRAPs) available through your state or employer
• Live modestly to reduce day-to-day costs
• Consider attending a lower-cost or in-state law school

To determine the best student loan lenders, Credible collected more than 1,000 points of data on two dozen companies and evaluated them on several different categories: repayment options, eligibility, interest rates, loan terms, and customer support. We assigned a score out of five stars to each lender based on our findings. Below are the weightings assigned to the general categories for the best student loan companies — which comprise individual criteria that are also weighted.

• Repayment options: 30%
• Eligibility: 25%
• Interest rates: 20%
• Loan terms: 15%
• Customer support: 10%

While the best lender for you will depend on your unique needs and financial circumstances, these findings should help answer your questions and assist you in your search for the best student loan.

Learn more about our methodology.