Sallie Mae® Bar Exam Loan for Law Students

For expenses associated with fees and living costs as you study for the bar exam
Apply for this loan
Fixed rates
7.01% APR
to 15.26% APRfootnote 1
Variable rates
7.63% APR
to 17.23% APRfootnote 1
Lowest rate shown includes the auto debit discount. Only the most credit-worthy applicants may receive the lowest rate.

Get the money you need for bar study-related expenses that are not covered by federal student loan programs, such as bar exam course fees and deposits.

Understanding bar study loans payment details

 

Fixed rates: 7.01% – 15.26% APRfootnote 1
Get predictable monthly payments with a rate that doesn’t change over time.

Variable rates: 7.63% - 17.23% APRfootnote 1
Your variable interest rate can rise or fall as the market index changes, so your Bar Study Loan payments may vary over time.

 

Deferred repayment
Make no scheduled payments while you're in school at least half-time and in grace (nine months after leaving school).footnote 1

Get budget flexibility

You can request to make lower, interest-only payments for the first two or four years of the repayment period.footnote 2 After that, you'll make principal and interest payments for the rest of the loan's repayment term. 

Benefit from these Bar Study Loan features

  • Take control of your funds; the funds are sent directly to you.
  • 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 3
  • Pay no origination fee or penalty for paying off your loan before its due date.footnote 4
  • Borrow from $1,000 up to $15,000.
  • Track your credit health with quarterly FICO® Credit Scores, available online for free to you and your cosigner.footnote 5

Get the money you need for your bar exam

Consider adding a cosigner

Last year, 49% of Bar Study Loan applicants who apply without a cosigner were approved.footnote 6

Why add a cosigner
You can apply for cosigner release

You can apply to release your cosigner from the loan after you graduate, make 12 on-time principal and interest payments, and meet certain credit requirements.footnote 7

 

Find out about cosigner release
If you need money for law school

A Sallie Mae® Law School Loan can help you get the money you need to continue your education. Choose a fixed or variable rate type and a repayment option that works best for you.

Learn about the Law School Loan

Easily apply in 3 steps

Provide some basic info

Give some details about yourself and your school.

Choose the number of disbursements

During the application process you can decide whether you want to receive funds in one disbursement or two.

Choose a delivery date for your funds

You can decide which date in the future you would like us to send you the funds.

Apply for this loan

Frequently asked questions about the Sallie Mae® Bar Study Loan

A bar study loan is a loan that allows law school students 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.

Bar study loans differ from federal and private student loans because they do not have to be disbursed to your school. To get a bar study loan, you also need to be at least in your final year of law school and plan to sit for the bar exam within 12 months.

A bar study loan can be used for things like:

  • Bar review course fees
  • Bar exam fees
  • Living expenses while studying for the bar exam
  • Other expenses not included in the school’s cost of attendance (COA) 

If you have extra money from your loan, consider getting a jump start on paying back your loan. This could help you reduce your interest payments over time.

To obtain a bar study loan, the following students are eligible:

  • Students pursuing or have earned a Juris Doctor (JD) or Master of Laws (LLM) degree and are enrolled at least half-time in their final year of study at a participating ABA-accredited law school, or have graduated from one within the last 12 months.
  • A student should be scheduled to sit for the bar exam no later than 12 months after graduation.
  • U.S. citizens and U.S. permanent residents can apply with or without a cosigner. 
  • All others, including DACA students, must apply with a cosigner (who must be a U.S. citizen or permanent resident), reside in the U.S., and provide an unexpired government-issued photo ID to verify identity.

If a borrower does not pass the bar exam, they will still be required to pay back their loan with interest. Missing payments may result in your account falling into delinquency or default.

International students or non-U.S. citizens can qualify for a bar exam loan with a creditworthy, U.S. citizen/permanent resident cosigner. They may need to present U.S. Citizenship and Immigrations Service (USCIS) documents to verify their identity.

No, you do not need to have a position at a law firm to be eligible for a bar study loan. You must be in your final year of law school from an ABA-accredited institution or have graduated within the last 12 months to qualify.

Have questions or need help applying?

Call us at

877-279-7172

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footnote Borrow responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.

footnote Bar Study Loans are intended to cover expenses not included in your school's cost of attendance.

footnote Bar Study Loans are for students who are enrolled at least half-time in their final year of study at a participating ABA-accredited law school or have graduated from one within the last 12 months. Students should be sitting for the bar exam no later than 12 months after graduation. This loan is subject to credit approval, identity verification, signed loan documents, and enrollment verification. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., graduate from, or attend school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident), and provide an unexpired government-issued photo ID. Requested loan amount must be at least $1,000.

footnote 1. Advertised APRs for Bar Study Loan assume a $15,000 loan disbursed at the time of the student's graduation from school. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent.  Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan.  Interest is charged starting when the funds are sent to you. Once principal and interest repayment begins, any Unpaid Interest will be added to Current Principal, increasing the Total Loan Cost. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.

footnote 2. Must request interest payments in writing. Choosing this option does not extend the loan term but does increase the Total Loan Cost and the monthly payment amount following the interest-only period.

footnote 3. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. 

footnote 4. Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note—first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal. 

footnote 5. Borrowers and cosigners with an available FICO® Score and a Sallie Mae-serviced loan with a current balance greater than $0, may receive their score monthly after the first loan disbursement. The FICO® Score provided to you is the FICO® Score 8 based on TransUnion data. FICO® Scores and associated educational content are provided solely for your own non-commercial personal review, use and benefit. This benefit may change or end in the future. FICO® is a registered trademark of the Fair Isaac Corporation in the United States and other countries. 

footnote 6. Based on a rolling 12-month period from October 1, 2022 through September 30, 2023.

footnote 7. Only the borrower may apply for cosigner release. To do so, they must first meet the age of majority in their state and provide proof of graduation (or completion of certification program), income, and U.S. citizenship or permanent residency (if their status has changed since they applied). In the last 12 months, the borrower can’t have been past due on any loans serviced by Sallie Mae for 30 or more days or enrolled in any hardship forbearances or modified repayment programs. In addition, the borrower must have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. The loan can’t be past due when the cosigner release application is processed. The borrower must also demonstrate the ability to assume full responsibility of the loan(s) individually and pass a credit review when the cosigner release application is processed that demonstrates a satisfactory credit history including but not limited to no: bankruptcy, foreclosure, student loan(s) in default or 90-day delinquencies in the last 24 months. Requirements are subject to change. 

footnote Sallie Mae loans are made by Sallie Mae Bank.

footnote Information advertised valid as of 10/25/2024.

footnote SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.