Finding a loan

Applying for a loan

Comparing student loan options

Loans for law school students

LAWLOANS Stafford Loan	Grad PLUS Loan	LAWLOANS Private Loan	Bar Study Loan	Tuition Answer Loan
Federal student loans		Private student loans
Interest rate
6.8%	8.5% Many lenders who work with Sallie Mae offer interest rate reductions that may reduce rate to 6.75%.	Interest rates that reward good credit and are as low as Prime – 0.75% for borrowers with excellent credit. Interest rates are variable and reset monthly.	Interest rates that reward good credit and are as low as Prime – 0.75% for borrowers with excellent credit. Interest rates are variable and reset monthly.	Interest rates that reward good credit and are as low as Prime + 0.5% for borrowers with excellent credit. Interest rates are variable and reset monthly.
Origination fees
For loans first disbursed July 1, 2007–June 30, 2008: Up to 2.5% in fees that includes a 1.5% federal origination fee and a 1% federal default fee. For loans first disbursed July 1, 2008–June 30, 2009: Up to 2% fees that includes a 1% federal origination fee and 1% federal default fee. There are lenders and guarantors that work with Sallie Mae that pay all or a portion of these fees.	Origination fee of 3% charged by the federal government. Up to a 1% guarantee fee. Many Sallie Mae lenders and guarantors who work with these lenders pay all or a portion of the guarantee fee.	No disbursement or repayment fees	No disbursement or repayment fees	Disbursement fee of 5%–10%
Annual loan limits
Up to $18,500 per year in Stafford loans with a lifetime maximum of $138,500.	Borrow up to the full cost of your education less other aid received.	Aggregate education loan limit (federal and private) is $150,000 without cosigner. Cost of education less other financial aid with cosigner.	From $500 to $15,000	Without cosigner $150,000 With cosigner no limit
Repayment
Standard, graduated, and extended repayment options are available. Repayment begins after a six-month grace period.	Repayment begins within 60 days after the final disbursement of the loan. Borrowers who are certified by their school to be attending at least half time will be automatically placed into in-school deferment. No payments are required during in-school deferment. Payments begin after in-school deferment ends.	Standard, graduated, and extended repayment options are available. Repayment begins after a nine-month grace period.	Standard and graduated repayment options are available.	Flexible repayment options determine first payment.