9 Best Law School Loans For Law Students

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While a law career might lead to a high salary, the cost of law school can be significant. In 2019, the average law school tuition was $28,186 for in-state residents at public schools and $49,312 for private schools, according to Law School Transparency.

Because of this high cost, you might need to take out law school loans to pay for your education. Keep in mind that the best law school loans are those that come with competitive interest rates, a wide selection of repayment terms, and inclusive eligibility requirements.

Here’s what to know about law school loans:

• 3 student loans to consider for law school
• Which law school loan is best?
• How to take out a law school loan

3 student loans to consider for law school

The table below includes three types of student loans that might help you pay for law school. Note that we included federal loan options as well as private student loans from Credible’s partner lenders.

Lender	Fixed rates from (APR)	Variable rates from (APR)	Loan amounts	Repayment terms	Specific law school loan available?
Federal Direct Unsubsidized Loans	4.30%* (for graduate and professional students)	N/A	Up to $20,500 per year ($73,000 aggregate limit)	10-year standard repayment plan (other options might be available)	No
Federal Grad PLUS Loans	5.30%*	N/A	Up to school’s cost of attendance (minus any other financial aid received)	10-year standard repayment plan (other options might be available)	No
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	3.43%+	2.14%+	$1,000 to $200,000	7 to 15 years (depending on rate type)	Yes
Fixed APR: 3.43%+ Variable APR: 2.14%+ Min. credit score: 600 Loan amount: $1,000 to $200,000 Loan terms (years): 5, 7, 10, 12, 15, 20 Repayment options: Full deferral, fixed/flat repayment, interest only, academic deferment, military deferment, forbearance, loans discharged upon death or disability Fees: None Discounts: 0.25% to 2.00% automatic payment discount, 1% cash back graduation reward Eligibility: Must be a U.S. citizen or permanent resident and have a minimum 2.9 GPA. Customer service: Email, phone Soft credit check: Yes Cosigner release: After 24 months Loan servicer: University Account Service (UAS)
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	4.24%+1	1.68%+1	$1,000 to $225,000	5 to 15 years	Yes
Fixed APR: 4.24%+1 Variable APR: 1.68%+1 Min. credit score: 720 Loan amount: $1,000 to $350,000 Loan terms (years): 5, 10, 15 Loan types: Any private or federal student loan Repayment options: Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, military deferment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay, loyalty Eligibility: Available in all 50 states (international students can apply with a creditworthy U.S. citizen or permanent resident cosigner) Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: After 36 months Loan servicer: Firstmark Services
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	3.34%+2,3	1.04%+2,3	$1,000 up to 100% of school-certified cost of attendance	5 to 20 years	Yes
Fixed APR: 3.34%+2,3 Variable APR: 1.04%+2,3 Min. credit score: Does not disclose Loan amount: $1,000 up to cost of attendance Loan terms (years): 5, 8, 10, 15 Repayment options: Full deferral, full monthly payment, fixed/flat repayment, interest only, immediate repayment, academic deferment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay Eligibility: Must be a U.S. citizen or permanent resident and be making satisfactory academic progress. Customer service: Email, phone Soft credit check: Yes Cosigner release: After 24 months Loan servicer: College Ave Servicing LLC
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	4.07%+7	1.99%+7	$1,000 to $200,000	7 to 15 years	No
Fixed APR: 4.07%+7 Variable APR: 1.99%+7 Min. credit score: 750 Loan amount: $1,000 to $200,000 Loan terms (years): 7, 10, 15 Repayment options: Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, loans discharged upon death or disability Fees: Late fee Discounts: Autopay Eligibility: Must be a U.S. citizen or permanent resident and have a minimum income of $30,000. Customer service: Email, phone Soft credit check: Yes Cosigner release: After 36 months Loan servicer: Granite State Management & Resources (GSM&R)
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	3.83%+8	1.61%+8	$1,001 up to 100% of school certified cost of attendance	5 to 15 years	No
Fixed APR: 3.83%+8 Variable APR: 1.61%+8 Min. credit score: 670 Loan amount: $1,001 up to cost of attendance Loan terms (years): 5, 10, 15 Repayment options: Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, forbearance Fees: Late fee Discounts: Autopay, reward for on-time graduation Eligibility: Must be an Indiana resident or a U.S. citizen attending an eligible Indiana school Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: After 48 months Loan servicer: American Education Services
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	3.75%+	N/A	$1,500 or $2,000 up to school’s certified cost of attendance (depending on school type and minus other aid received)	10 or 15 years	No
Fixed APR: 3.75%+ Variable APR: N/A Min. credit score: 670 Loan amount: $1,500 or $2,000 up to total amount Loan terms (years): 10, 15 Repayment options: Full deferral, interest only, immediate repayment, academic deferral, forbearance Fees: None Discounts: None Eligibility: Must be a U.S. citizen or permanent resident and be making satisfactory academic progress. Customer service: Email, phone Soft credit check: Yes Cosigner release: After 48 months Loan servicer: American Education Services (AES)
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	4.25% - 12.59%9	1.13% - 11.23%9	Up to 100% of school-certified cost of attendance	5 or 15 years	Yes
Fixed APR: 4.25% - 12.59%9 Variable APR: 1.13% - 11.23%9 Min. credit score: Does not disclose Loan amount: $1,000 up to cost of attendance Loan terms (years): 5 to 15 Repayment options: Full deferral, fixed/flat repayment, interest only, academic deferment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay Eligibility: Must be a U.S. citizen or permanent resident. Also available to non-U.S. citizen students (including DACA students) attending a school located in the U.S. who apply with a qualifying cosigner. Customer service: Phone, chat Soft credit check: Yes Cosigner release: After 12 consecutive on-time payments Loan servicer: Sallie Mae
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Lowest APRs reflect autopay, loyalty, and interest-only repayment discounts where available | 1Citizens Disclosures | 2,3College Ave Disclosures | 7EDvestinU Disclosures | 8INvestEd Disclosures | 9Sallie Mae Disclosures
*For the 2019-20 academic year

1. Direct Unsubsidized student loans

Graduate and professional students – including law school students — can qualify for federal Direct Unsubsidized Loans regardless of financial need.

Note that unlike other types of federal student loans, you’re responsible for all of the interest that accrues on unsubsidized loans.

You’ll need to fill out the Free Application for Federal Student Aid (FAFSA) to apply for unsubsidized loans.

If you’re considering Direct Unsubsidized Loans, keep these points in mind:

Pros

• Interest rates: Direct Unsubsidized Loans come with lower interest rates compared to Grad PLUS Loans. Having a low rate can help you keep your overall loan costs down.
• Grace period: You’ll have a six-month grace period with Direct Unsubsidized Loans. This means you’ll have some time after leaving school to get your finances in order before worrying about making payments.

Cons

• Borrowing limits: You can only borrow up to $20,500 per year and $73,000 total in unsubsidized loans. This might not be enough to cover your law school costs.
• Fees: Direct Unsubsidized Loans charge a 1.057% disbursement fee that’s deducted from your loan amount, leaving you with less money for your education costs.

You can find out how much you’ll owe over the life of your federal or private student loans using our student loan calculator below.

Learn More: How Long Does It Take to Get a Student Loan?

2. Grad PLUS Loans

Grad PLUS Loans are a type of Direct PLUS Loans specifically for graduate and professional students. These loans don’t have a cap on how much you can borrow. Instead, you might be able to borrow up to your school’s cost of attendance (minus any other financial aid you’ve received).

To apply for Grad PLUS Loans, you’ll need to submit the FAFSA and complete a PLUS Loan application.

If you’re thinking about getting a Grad PLUS Loan, here are a few points to consider:

Pros

• Borrowing limits: With Grad PLUS Loans, you might be able to borrow up to 100% of your school’s cost of attendance minus any other financial aid you’ve received.
• Automatic deferment: While Grad PLUS Loans don’t come with a grace period, you’ll automatically have your loans deferred for six months after you graduate, leave school, or drop below half-time enrollment.

Cons

• Interest rate: PLUS Loans come with the highest interest rates of any federal student loans. Depending on your credit, you might be able to get a lower interest rate on a private student loan compared to a PLUS Loan.
• Disbursement fee: Grad PLUS Loans charge a much higher disbursement fee compared to other federal student loans.

Check Out: How Do Federal and Private Student Loans Work?

3. Private student loans

If you’ve exhausted your federal student loan options, private student loans could help cover any leftover law school costs. Private student loans for law school are available from a wide variety of lenders.

Depending on your credit, you might even get a lower interest rate on a private loan compared to a Grad PLUS Loan.

There are also some private lenders that offer international student loans.

Here are Credible’s partner lenders that offer private student loans for law school:

Lender	Fixed rates from (APR)	Variable rates from (APR)	Loan amounts	Fees
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	3.43%+	2.14%+	$1,000 - $200,000	None
Fixed APR: 3.43%+ Variable APR: 2.14%+ Min. credit score: 600 Loan amount: $1,000 to $200,000 Loan terms (years): 5, 7, 10, 12, 15, 20 Repayment options: Full deferral, fixed/flat repayment, interest only, academic deferment, military deferment, forbearance, loans discharged upon death or disability Fees: None Discounts: 0.25% to 2.00% automatic payment discount, 1% cash back graduation reward Eligibility: Must be a U.S. citizen or permanent resident and have a minimum 2.9 GPA. Customer service: Email, phone Soft credit check: Yes Cosigner release: After 24 months Loan servicer: University Account Service (UAS)
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	4.24%+1	1.68%+1	$1,000 - $350,000 (depending on degree)	Late fee
Fixed APR: 4.24%+1 Variable APR: 1.68%+1 Min. credit score: 720 Loan amount: $1,000 to $350,000 Loan terms (years): 5, 10, 15 Loan types: Any private or federal student loan Repayment options: Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, military deferment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay, loyalty Eligibility: Available in all 50 states (international students can apply with a creditworthy U.S. citizen or permanent resident cosigner) Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: After 36 months Loan servicer: Firstmark Services
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	3.34%+2,3	1.04%+2,3	$1,000 up to 100% of the school-certified cost of attendance	Late fee
Fixed APR: 3.34%+2,3 Variable APR: 1.04%+2,3 Min. credit score: Does not disclose Loan amount: $1,000 up to cost of attendance Loan terms (years): 5, 8, 10, 15 Repayment options: Full deferral, full monthly payment, fixed/flat repayment, interest only, immediate repayment, academic deferment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay Eligibility: Must be a U.S. citizen or permanent resident and be making satisfactory academic progress. Customer service: Email, phone Soft credit check: Yes Cosigner release: After 24 months Loan servicer: College Ave Servicing LLC
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	4.07%+7	1.99%+7	$1,000 - $200,000	Late fee
Fixed APR: 4.07%+7 Variable APR: 1.99%+7 Min. credit score: 750 Loan amount: $1,000 to $200,000 Loan terms (years): 7, 10, 15 Repayment options: Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, loans discharged upon death or disability Fees: Late fee Discounts: Autopay Eligibility: Must be a U.S. citizen or permanent resident and have a minimum income of $30,000. Customer service: Email, phone Soft credit check: Yes Cosigner release: After 36 months Loan servicer: Granite State Management & Resources (GSM&R)
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	3.83%+8	1.61%+8	$1,001 up to 100% of school certified cost of attendance	Late fee
Fixed APR: 3.83%+8 Variable APR: 1.61%+8 Min. credit score: 670 Loan amount: $1,001 up to cost of attendance Loan terms (years): 5, 10, 15 Repayment options: Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, forbearance Fees: Late fee Discounts: Autopay, reward for on-time graduation Eligibility: Must be an Indiana resident or a U.S. citizen attending an eligible Indiana school Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: After 48 months Loan servicer: American Education Services
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	3.75%+	N/A	$1,500 or $2,000 up to school’s certified cost of attendance (depending on school type and minus other aid received)	None
Fixed APR: 3.75%+ Variable APR: N/A Min. credit score: 670 Loan amount: $1,500 or $2,000 up to total amount Loan terms (years): 10, 15 Repayment options: Full deferral, interest only, immediate repayment, academic deferral, forbearance Fees: None Discounts: None Eligibility: Must be a U.S. citizen or permanent resident and be making satisfactory academic progress. Customer service: Email, phone Soft credit check: Yes Cosigner release: After 48 months Loan servicer: American Education Services (AES)
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	4.25% - 12.59%9	1.13% - 11.23%9	Up to 100% of the school-certified cost of attendance	Late fee
Fixed APR: 4.25% - 12.59%9 Variable APR: 1.13% - 11.23%9 Min. credit score: Does not disclose Loan amount: $1,000 up to cost of attendance Loan terms (years): 5 to 15 Repayment options: Full deferral, fixed/flat repayment, interest only, academic deferment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay Eligibility: Must be a U.S. citizen or permanent resident. Also available to non-U.S. citizen students (including DACA students) attending a school located in the U.S. who apply with a qualifying cosigner. Customer service: Phone, chat Soft credit check: Yes Cosigner release: After 12 consecutive on-time payments Loan servicer: Sallie Mae
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Lowest APRs reflect autopay, loyalty, and interest-only repayment discounts where available | 1Citizens Disclosures | 2,3College Ave Disclosures | 7EDvestinU Disclosures | 8INvestEd Disclosures | 9Sallie Mae Disclosures

Ascent

4.9

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

Ascent Private Student Loans

Fixed APR

Lowest fixed rate available from this lender

3.43%+

Variable APR

Lowest variable rate available from this lender

2.14%+

Loan amount

Total amount you can borrow from this lender

$1,000 to $200,000

Loan terms (years)

How many years you have to repay the loan

5, 7, 10, 12, 15, 20

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• Fixed APR: 3.43%+
• Variable APR: 2.14%+
• Min. credit score: 600
• Loan amount: $1,000 to $200,000
• Loan terms (years): 5, 7, 10, 12, 15, 20
• Repayment options: Full deferral, fixed/flat repayment, interest only, academic deferment, military deferment, forbearance, loans discharged upon death or disability

• Fees: None
• Discounts: 0.25% to 2.00% automatic payment discount, 1% cash back graduation reward
• Eligibility: Must be a U.S. citizen or permanent resident and have a minimum 2.9 GPA.
• Customer service: Email, phone
• Soft credit check: Yes
• Cosigner release: After 24 months
• Loan servicer: University Account Service (UAS)

Citizens

4.8

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

Citizens Private Student Loans

Fixed APR

Lowest fixed rate available from this lender

4.24%+¹

Variable APR

Lowest variable rate available from this lender

1.68%+¹

Loan amount

Total amount you can borrow from this lender

$1,000 to $350,000

Loan terms (years)

How many years you have to repay the loan

5, 10, 15

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• Fixed APR: 4.24%+¹
• Variable APR: 1.68%+¹
• Min. credit score: 720
• Loan amount: $1,000 to $350,000
• Loan terms (years): 5, 10, 15
• Loan types: Any private or federal student loan
• Repayment options: Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, military deferment, forbearance, loans discharged upon death or disability

• Fees: Late fee
• Discounts: Autopay, loyalty
• Eligibility: Available in all 50 states (international students can apply with a creditworthy U.S. citizen or permanent resident cosigner)
• Customer service: Email, phone, chat
• Soft credit check: Yes
• Cosigner release: After 36 months
• Loan servicer: Firstmark Services

College Ave

4.9

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

College Ave Private Student Loans

Fixed APR

Lowest fixed rate available from this lender

3.34%+^2,3

Variable APR

Lowest variable rate available from this lender

1.04%+^2,3

Loan amount

Total amount you can borrow from this lender

$1,000 up to cost of attendance

Loan terms (years)

How many years you have to repay the loan

5, 8, 10, 15

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• Fixed APR: 3.34%+^2,3
• Variable APR: 1.04%+^2,3
• Min. credit score: Does not disclose
• Loan amount: $1,000 up to cost of attendance
• Loan terms (years): 5, 8, 10, 15
• Repayment options: Full deferral, full monthly payment, fixed/flat repayment, interest only, immediate repayment, academic deferment, forbearance, loans discharged upon death or disability

• Fees: Late fee
• Discounts: Autopay
• Eligibility: Must be a U.S. citizen or permanent resident and be making satisfactory academic progress.
• Customer service: Email, phone
• Soft credit check: Yes
• Cosigner release: After 24 months
• Loan servicer: College Ave Servicing LLC

EDvestInU

4.8

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

EDvestinU Private Student Loans

Fixed APR

Lowest fixed rate available from this lender

4.07%+⁷

Variable APR

Lowest variable rate available from this lender

1.99%+⁷

Loan amount

Total amount you can borrow from this lender

$1,000 to $200,000

Loan terms (years)

How many years you have to repay the loan

7, 10, 15

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• Fixed APR: 4.07%+⁷
• Variable APR: 1.99%+⁷
• Min. credit score: 750
• Loan amount: $1,000 to $200,000
• Loan terms (years): 7, 10, 15
• Repayment options: Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, loans discharged upon death or disability

• Fees: Late fee
• Discounts: Autopay
• Eligibility: Must be a U.S. citizen or permanent resident and have a minimum income of $30,000.
• Customer service: Email, phone
• Soft credit check: Yes
• Cosigner release: After 36 months
• Loan servicer: Granite State Management & Resources (GSM&R)

INvestEd

4.6

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

INvestEd Private Student Loans

Fixed APR

Lowest fixed rate available from this lender

3.83%+⁸

Variable APR

Lowest variable rate available from this lender

1.61%+⁸

Loan amount

Total amount you can borrow from this lender

$1,001 up to cost of attendance

Loan terms (years)

How many years you have to repay the loan

5, 10, 15

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• Fixed APR: 3.83%+⁸
• Variable APR: 1.61%+⁸
• Min. credit score: 670
• Loan amount: $1,001 up to cost of attendance
• Loan terms (years): 5, 10, 15
• Repayment options: Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, forbearance

• Fees: Late fee
• Discounts: Autopay, reward for on-time graduation
• Eligibility: Must be an Indiana resident or a U.S. citizen attending an eligible Indiana school
• Customer service: Email, phone, chat
• Soft credit check: Yes
• Cosigner release: After 48 months
• Loan servicer: American Education Services

MEFA

4.4

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

MEFA Private Student Loans

Fixed APR

Lowest fixed rate available from this lender

3.75%+

Variable APR

Lowest variable rate available from this lender

N/A

Loan amount

Total amount you can borrow from this lender

$1,500 or $2,000 up to total amount

Loan terms (years)

How many years you have to repay the loan

10, 15

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• Fixed APR: 3.75%+
• Variable APR: N/A
• Min. credit score: 670
• Loan amount: $1,500 or $2,000 up to total amount
• Loan terms (years): 10, 15
• Repayment options: Full deferral, interest only, immediate repayment, academic deferral, forbearance

• Fees: None
• Discounts: None
• Eligibility: Must be a U.S. citizen or permanent resident and be making satisfactory academic progress.
• Customer service: Email, phone
• Soft credit check: Yes
• Cosigner release: After 48 months
• Loan servicer: American Education Services (AES)

Sallie Mae

4.3

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

Sallie Mae Private Student Loans

Fixed APR

Lowest fixed rate available from this lender

4.25% - 12.59%⁹

Variable APR

Lowest variable rate available from this lender

1.13% - 11.23%⁹

Loan amount

Total amount you can borrow from this lender

$1,000 up to cost of attendance

Loan terms (years)

How many years you have to repay the loan

5 to 15

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• Fixed APR: 4.25% - 12.59%⁹
• Variable APR: 1.13% - 11.23%⁹
• Min. credit score: Does not disclose
• Loan amount: $1,000 up to cost of attendance
• Loan terms (years): 5 to 15
• Repayment options: Full deferral, fixed/flat repayment, interest only, academic deferment, forbearance, loans discharged upon death or disability

• Fees: Late fee
• Discounts: Autopay
• Eligibility: Must be a U.S. citizen or permanent resident. Also available to non-U.S. citizen students (including DACA students) attending a school located in the U.S. who apply with a qualifying cosigner.
• Customer service: Phone, chat
• Soft credit check: Yes
• Cosigner release: After 12 consecutive on-time payments
• Loan servicer: Sallie Mae

Which law school loan is best?

Ultimately, choosing the best law school loan for you will depend on your individual needs and circumstances. However, there are a few situations that might help you narrow down your choices between federal and private student loans.

Here are a few common scenarios where federal student loans could be a good option:

• You plan to work in public service. If you plan on becoming a public defender, prosecutor, or employee for a legal aid or nonprofit organization, you might be able to have your federal student loans discharged through Public Service Loan Forgiveness (PSLF). You’ll need to work for a qualifying employer for 10 years and make 120 qualifying payments to apply for PSLF.
• You want access to hardship options. If you think you might need deferment, forbearance, or income-driven repayment plans, then federal student loans are generally a good choice. While some private lenders offer perks like forbearance, they don’t come with the same amount of protections as federal loans.

There are also a few situations where private student loans might be the way to go, such as:

• You want the lowest interest rate possible. If you have good to excellent credit, you might qualify for a lower interest rate on a private student loan compared to a federal student loan. This could save you money over the life of your loan and might even help you pay off your loan faster.
• You need a bar exam loan. In most states, you’ll have to wait until after you graduate to take the bar exam, which means you’ll no longer be eligible for standard student loans. However, some private lenders offer bar study loans that can help you cover your living expenses while preparing for the bar exam.

Learn More: When You Should Apply for a Student Loan

How to take out a law school loan

If you’re ready to take out law school loans, follow these four steps:

1. Complete the FAFSA. Your first step to pay for law school should be submitting the FAFSA. Your school will use your FAFSA results to determine if you’re eligible for federal student loans or other federal aid. You might also qualify for school-based scholarships or grants through the FAFSA.
2. Check your credit report. If you need to take out private student loans to fully cover your education, make sure your credit is as strong as possible. You can check your credit report for free at AnnualCreditReport.com. If you find any errors, be sure to dispute them with the appropriate credit bureaus to potentially boost your score.
3. Compare lenders and pick your loan option. Be sure to compare as many private lenders as possible to find the right loan for you. Consider not only rates but also repayment terms and any fees charged by the lender. After doing your research, pick the loan option that best suits your needs.
4. Fill out the application. Once you’ve chosen a lender, you’ll need to complete a full application and submit any required documentation, such as pay stubs or cosigner information. If you’re approved, the lender will have you sign for the loan before sending it to your school for certification. Once this process is complete and your school tuition and fees have been paid, any remaining funds will be released to you.

If you decide to take out a private student loan, remember to compare as many lenders as you can to find a loan that suits your needs. Credible makes this easy — you can compare your prequalified rates from multiple lenders in two minutes.

Keep Reading: Taking Out Student Loans Without a Cosigner

Methodology: Credible evaluated loan and lender data points in 10 categories to identify the “best companies” that offer private student loans to anyone going to law school. We looked at interest rates, repayment terms, repayment options, fees, discounts, and customer service availability offered by 15 lenders. We also considered each company’s eligibility, cosigner release options, whether the minimum credit score is available publicly, and whether consumers could request rates with a soft credit check.

Credible receives compensation from its lender partners when a user of the Credible platform closes a loan with the lender.

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About the author

Kat Tretina

Kat Tretina is a contributor to Credible who covers everything from student loans to personal loans to mortgages. Her work has appeared in publications like the Huffington Post, Money Magazine, MarketWatch, Business Insider, and more.

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