Get a Law School Loan
Find the Right Loan Provider
After finishing your four year degree, entry into a law university graduate program is next. Most law schools are expensive, and most of us will need to borrow a large chunk of money to invest in the future profession of being a lawyer or attorney.
Federal Law School Student Loans
The first option is usually getting federal assistance. There are two types of general federal graduate student loans, Perkins Graduate Loans and Stafford Graduate Loans which can be used for any graduate education.
With the Stafford Loans, you can receive either subsidized or unsubsidized loans depending on your financial need. These Graduate Stafford Loans usually offer more funding than normal undergrad Stafford Loans.
You can get a Direct Loan straight from the government, or choose a Federal Family Education Loan Program through secondary sources such as private banks and credit unions.
The Perkins Graduate Loan has a maximum limit of $6000 per year of study, and is lent out via the university you attend. This loan has some nice deferment benefits for those with the most financial assistance needed.
Private Law Student Loans
There are a handful of companies and non-profit organizations that have loans for law students.
Sallie Mae offers their LAWLOANS program for regular schooling and a Bar Study Loan to help with bar exam expenses. Their wholly owned subsidiary, Nellie Mae, has a similar Law EXCEL program.
The nonprofit Access Group has a Law Access Loan and Bar Examination Loan. They are also the largest private loan provider catering to law students.
Graduate PLUS Loans Not for Parents
Graduate PLUS Loans are available via the federal government or private organizations. PLUS Loans are commonly known to be paid by the parent for undergraduate study, but now graduates themselves can take advantage of a PLUS Loan.
