You can apply only once for the money you need for the entire school year. Funds will be sent for each term as requested by your school.
Sallie Mae® Law School Loan
Lowest rates shown include the auto debit discount. Only the most creditworthy applicants who choose the interest repayment option may receive the lowest rate.
coverage
of all your school-certified expenses like tuition, fees, books, housing, meals, travel, and even a laptop.footnote 2
of students
who've been approved for an MBA loan with a cosigner were approved again when they returned with a cosigner the following year.footnote 3
months of deferment
during your internship.footnote 4
interest-only payments
for eligible borrowers after the grace period for repayment flexibility.footnote 5
month grace period
to support you during your business career.footnote 6
Choose the loan options that works for you
Fixed rate: 3.49% - 14.47% APRfootnote 1
Lowest rate shown includes the auto debit discount. Get predictable monthly payments with a rate that doesn’t change over time.
Variable rate: 4.92% - 14.35% APRfootnote 1
Lowest rate shown includes the auto debit discount. Your interest rate can rise or fall as the market index changes, so your law school loan payments may vary over time.
Pay later
Deferred repayment option: Make no payments while you’re in school and in grace (nine months after leaving school).footnote 1 With this law school loan repayment option, you’ll likely pay more for your total student loan cost, since the interest rate may be higher and unpaid interest will be added to your principal amount at the end of your grace period.
Pay a little and save
Fixed repayment option: Pay $25 every month.footnote 7 Choose the fixed repayment option and receive an interest rate that is .25 percentage points lower than the deferred repayment option.1 While your total loan cost will typically be less than with our deferred repayment option, unpaid interest will be added to your principal amount at the end of your grace period.
Pay interest and save even more
Interest repayment option: Pay your law school loan interest every month you’re in school and in grace. Choose the interest repayment option and receive an interest rate that is .50 percentage points lower than the deferred repayment option.footnote 1 Your total loan cost will likely be lower than with the other repayment options, but your law school loan payments will likely be larger while you’re in school and in grace.
Law school loan benefits
- Returning customers can save time with a streamlined application.footnote 3
- Lower your total loan cost—get a 0.25 percentage point interest rate reduction when you enroll in and make monthly payments by auto debit.footnote 8
- Pay no origination fee or penalty for paying off your Law School Loan before its due date.footnote 9
- You can apply to release your cosigner after you graduate, make 12 on-time, principal and interest payments and meet certain credit requirements.footnote 10
- You can pay for up to all your school-certified law school costsfootnote 2 with a single, established lender.
The Sallie Mae Law School Loan vs the Federal Direct Grad PLUS Loan
After exploring federal student loans, you may find the Sallie Mae Law School Loan to be a good alternative to the Federal Direct Grad PLUS Loan, and if you're highly qualified, you may receive a lower interest rate.footnote 11
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Sallie Mae Law School Loan
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Direct Grad PLUS Loanfootnote 12 |
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No origination fee |
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Available for less than half-time enrollment |
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Offers variable interest rates |
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Offers fixed interest rates |
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9-month grace period |
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Deferred repayment option |
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Interest and fixed repayment options |
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Rate reduction for auto debit enrollment |
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Get the help you need during law school and beyond
A deferment may help you postpone or reduce your law school loan payments during your clerkship or fellowship. It’s available in increments of 12 months, up to a total of 48 months.4
Find out about a clerkship or fellowship deferment
Our bar study loan can help you pay for bar study-related expenses that aren’t covered by federal student loan programs, such as bar exam course fees and deposits.
Applying is easy
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Tell us about yourself
We’ll need some basic information from you (and your cosigner if you’re applying with one) like your name, address, and date of birth, along with some details about your school.
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Choose your loan option(s)
After you’re approved, pick the repayment option and interest rate type that work best for your budget.
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Sign and accept
Be sure to review all loan documents so you understand your responsibilities. Once you’ve decided to borrow from us, just e-sign and accept your loan. We'll work with your school to take care of the rest. That's it!
Frequently asked questions about the Sallie Mae Law School Loan
Bar study loans are not the same as law school loans. Bar study loans allow law school students nearing graduation to pay for bar study classes, cost of living, the bar exam itself, and other expenses accrued during your time spent studying for the bar. Law school loans help you pay for law school and all law-school related expenses during any year of school.
With the Sallie Mae Law School Loan, you can get up to 100% coverage for all of your school-certified expenses. This includes tuition, fees, books, housing, meals, travel, technology, and more.footnote 2 A law school loan does not cover expenses related to the bar exam. A bar study loan can help cover living expenses and testing fees for the bar exam.
The Sallie Mae Law School Loan can cover up to 100% coverage for all of your school-certified expenses. This includes tuition, fees, books, housing, meals, travel, technology, and more.footnote 2
A deferment may help you postpone or reduce your law school loan payments during your clerkship or fellowship. It's available in increments of 12 months, up to a total of 48 months.footnote 4
Find out about a clerkship or fellowship deferment
Our bar study loan can help you pay for bar study-related expenses that aren't covered by federal student loan programs, such as bar exam course fees and deposits.
The Sallie Mae Law School Loan is available to students enrolled full-time, half-time, and less than half-time. Contact your school to see if there are grants, scholarships, or other forms of financial aid for part-time or evening law school programs.
Obtaining state bar admissions and licenses are expenses that can be covered with bar study loans rather than law school loans. Bar study loans allow law school students nearing graduation to pay for bar study classes, cost of living, the bar exam itself, and other expenses accrued during your time spent studying for the bar.