Bar Examination & Law Study Loans
The Bar Examination/Study Loan is a potential resource available to assist in
meeting costs associated with preparation for and taking the Bar Examination
upon graduation from law school.
The eligibility requirements for submitting an application are that you:
1. Are enrolled at least half time in, or have graduated from, a tax-exempt law school approved by the American Bar Association.
2. Are a U.S. citizen/national or eligible non-citizen with a valid Social Security number.
3. Have not already borrowed the maximum total amount allowed under the Bar Examination Loan program ($15,000).
4. Are not in default on any education loan or owe a refund on an education grant.
Your application must be certified by the school no earlier than one year prior to
your anticipated graduation date and no later than six months after your actual
graduation date.
The Bar Examination/Study Loan is a private loan and requires that the student meet credit and other eligibility requirements of the lender.
Checks are made payable to you and mailed to your current mailing
address as reported on the application. This loan must be fully disbursed no later
than six months after your anticipated or actual graduation date.
Lenders that Provide Bar Exam Loans
| Lender | Loan Limits | Interest Rates | Fees | Repayment Options |
|---|---|---|---|---|
| Sallie Mae | $1,000-$15,000 | LIBOR +4%-14% | 0%-6% | standard and graduated |
| Wells Fargo | up to $12,000 | Prime +1%-9.5% | 0% | standard |
| Citibank | $1,000-$15,000 | variable | 0%-3.5% | up to 20 year repayment |
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