Eligibility

• You may apply for a Bar Study Loan if you are enrolled at least half time in your final year of study at an ABA-accredited law school, or have graduated from one within the last 12 months.
• You must be sitting for the bar exam no later than 12 months after graduation.
• You must be a U.S. citizen or a non-citizen permanent resident without conditions and with proper evidence of eligibility, or an international student borrowing with a creditworthy cosigner who is a U.S. citizen or non-citizen permanent resident. Depending on the school you attend, you may be required to apply for the Bar Study Loan with a cosigner.

Features

• The Bar Study Loan has interest rates that reward good credit.
• If you do not have an established credit history, you may want to apply with a creditworthy cosigner because this may increase your chances of approval. Even if you have an established credit history, you may be eligible for a lower interest rate if you apply with a creditworthy cosigner.
• Creditworthy borrowers may request a cosigner release after making the first 24 consecutive payments of principal and interest on time.¹
• No minimum income requirement.
• You get the convenience of combined billing for all of your Sallie Mae-serviced loans.
• You can manage your account online 24/7.

Loan terms

Loan limits

You may borrow from a minimum of $1,000 to a maximum of $15,000.

Interest rate

• Manage your credit well and you may qualify for a lower interest rate.
• The LAWLOANS Bar Study Loan has interest rates that reward good credit. Interest rates are variable and reset monthly.

Fees

Loan fees are 0%–6%.

Repayment

Standard and graduated repayment options are available

Legal

Bar Study Loans are funded by Sallie Mae Bank^® or a Sallie Mae lender partner.

¹ Borrower’s account must remain current until the request for release is processed. Borrower credit qualification applies. Borrower must be a U.S. citizen or permanent resident at the time the cosigner release request is processed.

Sallie Mae reserves the right to modify or discontinue loan programs at any time without notice. Applicants should check the Sallie Mae website close to their loan disbursement date to obtain the most up-to-date information regarding loan programs, including borrower benefits.

Subject to the above, borrower benefits are effective for LAWLOANS Bar Study Loans first disbursed on or after June 1, 2008 and serviced by Sallie Mae.

Upromise is not limited to Sallie Mae loan customers.

Sallie Mae, Sallie Mae Bank, Bar Study Loans and LAWLOANS are registered service marks of Sallie Mae, Inc.