Type of Loan

Privately funded loan available to students enrolled at least half time in an ABA-accredited law school.

Borrower Eligibility

Requires a credit check. Is not dependent on income or assets. A cosigner is required for international students and students without sufficient credit history.

Loan Limits

Borrow up to the total cost of education, minus financial aid received on an annual basis.  Without a cosigner, students may borrow a maximum of $150,000.  There is no lifetime maximum with a cosigner.

Interest Rates

Rate and APR Examples »

Fees

A fee of 0% to 5% may be incurred at repayment based on the credit score of the borrower and/or cosigner+.

Disbursement Timing

Multiple disbursements are made directly to the school.  Disbursement schedules typically align with school terms or semesters.

Repayment         Start Date

Payments are deferred until 9 months after the student graduates or drops below half-time attendance.  Interest accrues during this period and will be added to the principal balance when repayment begins.

Repayment Term

Monthly payments are scheduled over a 15-25 year period, based on the loan balance with a $50 minimum payment. Loans may be prepaid without penalty

Repayment Options

Multiple, flexible repayment options are available including standard repayment, interest only repayment, and extended repayment.

Borrower Benefits

NA

Additional Information

The cosigner may be released from the loan after the borrower has made 24 consecutive on-time payments and is credit-approved for the release.