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Designed for your law school needs

100%

coverage

of school-certified expenses—with no max for all years of law school

9

month grace period

to support you during the start of your law career

48

months of deferment

during your clerkship or fellowship

15

years to repay

your Law School Loan with no prepayment penalty

12

interest‑only payments

for eligible borrowers after the grace period for repayment flexibility

Choose a variable or fixed interest rate

Variable interest rate:   
4.00% - 8.82% APR*

Benefit
Your starting Law School Loan interest rate may be less than a fixed interest rate, which could result in a lower total student loan cost.

Consideration
Your interest rate can rise and fall as the market index changes, so your Law School Loan payments may vary over time.

Fixed interest rate:   
6.24% - 8.93% APR*

Benefit
Get predictable monthly payments with a Law School Loan interest rate that doesn’t change over time.

Consideration
You may pay more for your total Law School Loan cost because a fixed interest rate is usually higher than a starting variable interest rate.

Pay it back now or later

With up to 15 years to repay, you’ll have flexibility while you’re getting settled in your career. Plus, you always have the option to pay extra, with no prepayment penalty.

Deferred repayment option

In school In grace After school No payments Principal & interest

No Law School Loan payments required while you’re in school and in grace (nine months after leaving school).*

With this Law School Loan repayment option, you'll likely pay more for your total student loan cost, since the interest rate may be higher and unpaid interest will be added to your principal amount at the end of your grace period.

Fixed repayment option

In school In grace After school $25 a month** Principal & interest

Pay $25 every month** you’re in school and in grace, and you can save on your total loan cost when compared to our deferred repayment option.*

However, unpaid interest will be added to your principal amount at the end of your grace period.

Interest repayment option

In school In grace After school Pay interest monthly Principal & interest

Pay your Law School Loan interest every month you're in school and in grace. Your interest rate will be 0.50 percentage points lower than with the deferred repayment option and 0.25 percentage points lower than with the fixed repayment option.*

Your total loan cost will likely be lower than with the other repayment options, but your Law School Loan payments will likely be larger while you’re in school and in grace.


* Interest rates for Fixed and Deferred Repayment Options are higher than interest rates for the Interest Repayment Option. You're charged interest starting at disbursement, while in school and during your separation or grace period. When you enter principal and interest repayment, Unpaid Interest will be added to your loan's Current Principal. Variable rates may increase over the life of the loan. Advertised APRs assume a $10,000 loan to a first-year graduate with no other Sallie Mae loans.

** This repayment example is based on a typical loan to a first-year graduate Law borrower who chooses a variable rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, a 0% disbursement fee, and a 7.79% variable APR. It works out to 42 payments of $25.00, 179 payments of $111.29 and one payment of $78.65, for a Total Loan Cost of $21,049.56. Variable rates may increase over the life of the loan.

Benefit from these features

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.

Pay no origination fee or penalty for paying off your Law School Loan before its due date.

Get the shortest cosigner release qualification period in the industry. You can apply to release your cosigner after you graduate, make 12 on-time, principal and interest payments and meet certain credit requirements.

Keep on top of your credit with a quarterly FICO® Credit Score, available online for free to you and your cosigner.

Pay for all your school-certified law school costs—plus bar study expenses with the Bar Study Loan®—with a single, established lender.

The Law School Loan vs the Federal Direct Grad PLUS Loan

The Sallie Mae Law School Loan can be a good alternative to the Federal Direct Grad PLUS Loan, and if you’re highly qualified, you may receive a lower interest rate.

  Sallie Mae Law School Loan Direct Grad PLUS Loan

Available for less than half-time enrollment

 

Offers variable interest rates

 

Offers fixed interest rates

No origination fee

 

9-month grace period

 

Deferred repayment option

Multiple in-school repayment options

 

Rate reduction for auto debit enrollment

Get the help you need during law school and beyond

Find flexibility with a clerkship or fellowship deferment

A deferment may help you postpone or reduce your Law School Loan payments during your clerkship or fellowship. It’s available in increments of 12 months, up to a total of 48 months.

Find out about a clerkship or fellowship deferment


Pay for your bar study expenses

Our Bar Study Loan can help you pay for bar study-related expenses that aren’t covered by federal student loan programs, such as bar exam course fees and deposits.

Learn about the Bar Study Loan

Law School Loan citizenship eligibility

U.S. citizens and permanent residents are eligible if you are

  • attending a degree-granting school located in or outside of the U.S. (or have attended one during an eligible prior enrollment period); or
  • enrolled in an eligible study-abroad program.

International students are eligible if you are

  • attending a participating degree-granting school located in the U.S. or a U.S. territory (or have attended one during an eligible prior enrollment period); and
  • applying with a creditworthy cosigner who is a U.S. citizen or U.S. permanent resident with required U.S. Citizenship and Immigration Service (USCIS) documentation.

Applying online is easy

is about all it takes to apply and get
a credit result.

of customers would recommend our online loan application process.

Source: Sallie Mae online loan application surveys, July 2016 – June 2017.

Questions? Need help applying?

Call us at (877) 279-7172

Didn’t find what you were looking for? See all graduate student loans.

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

This information is for borrowers attending degree-granting institutions only. You must be attending or have attended a participating school located in the U.S. during an eligible prior enrollment period. You must be a U.S. citizen or a permanent resident or a Non-U.S. citizen borrower with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and required U.S. Citizenship and Immigration Service (USCIS) documentation. U.S. citizens and permanent residents enrolled in eligible study abroad programs or who are attending or have attended schools located outside the U.S. are also eligible. Borrowers must be in a J.D. program. Graduate Certificate/Continuing Education coursework is not eligible. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount.

If at any time during the repayment period you enter an approved residency or internship program, you may contact us to request the Residency/Internship Deferment. To apply for the Residency/Internship Deferment, you must submit a form completed by you and an official from the residency or internship program to us for consideration. If you receive the Deferment, the Current Amount Due you will be required to pay each month during the deferment period will reflect the same repayment option that applied to your loan during the in-school period. Deferment periods are issued in up to 12-month increments. You can receive a maximum of four 12-month deferment periods (48-month maximum). Interest is charged during the deferment period and Unpaid Interest may be added to the Current Principal at the end of each deferment period, which will increase the Total Loan Cost.

This repayment example is based on a typical loan to a first-year graduate Law borrower who chooses a variable rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, a 0% disbursement fee, and a 7.79% variable APR. It works out to 42 payments of $25.00, 179 payments of $111.29 and one payment of $78.65, for a Total Loan Cost of $21,049.56. Variable rates may increase over the life of the loan.

Available for loans used to pay qualified higher education expenses at a degree-granting institution. Graduated Repayment Period (GRP) allows interest-only payments for 12 billing periods after principal and interest repayment begins. At the time of GRP request, the loan must be current (not past due). Customers may request GRP during the six billing periods before and the 12 billing periods immediately after the loan first enters principal and interest repayment. GRP does not extend the loan term. GRP increases the Total Loan Cost and monthly payments after the GRP will be higher than they would have been without it.

Borrower or cosigner must enroll in auto debit through Sallie Mae. The rate reduction 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, and may therefore be suspended during a forbearance or deferment period.

Only the borrower may apply for cosigner release. Borrowers who meet the age of majority in their state may apply for cosigner release by providing proof of graduation (or completion of certification program), income, and U.S. citizenship or permanent residency (if your status has changed since you applied). In the last 12 months, the borrower must be current on all Sallie Mae serviced loans (including no hardship forbearances or modified repayment programs) and have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. When the cosigner release application is processed, the borrower must demonstrate the ability to assume full responsibility of the loan(s) individually, and pass a credit review that demonstrates a satisfactory credit history including but not limited to no: open bankruptcy, open foreclosure, student loan(s) in default or 90 day delinquencies in the last 24 months. Requirements are subject to change. Shortest qualification period based on a 3/29/18 review of national private loan programs offered by publicly-traded competitors.

Borrowers and cosigners who have an available FICO® Score, may receive their score quarterly after the first disbursement of their loan. The FICO® Score provided to you is the FICO® Score 8 based on TransUnion data, and is the same score that Sallie Mae uses, along with other information, to manage your account. 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.

Explore federal loans and compare to ensure you understand the terms and features. Law School Loans that have variable rates can go up over the life of the loan. Federal student loans are required by law to provide a range of flexible repayment options, including, but not limited to, income-based repayment and income-contingent repayment plans/Graduated Repayment and Extended Repayment plans, and loan forgiveness and deferment benefits, which other student loans are not required to provide. Federal loans generally have origination fees, but are available to students regardless of income.

Rates, fees and availability of federal loan products are subject to change by the Federal Government. Check http://studentaid.ed.gov/ for the most up-to-date information about federal loan products.

Law School Loans are made by Sallie Mae Bank or a lender partner.

Information advertised valid as of 5/25/2018.

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.