Study for the Bar
The summer following graduation is often spent studying for the bar exam and not working. The loans assist graduating students with paying for bar exam courses and bar exam expenses. Bar study loans are private education loans for which third-year and LL.M. students may be eligible. The terms are similar to the corresponding private loan programs.
Lenders will often allow up to six months of forbearance or interest-only payments. Most lenders are interested in receiving their money and are willing to work out different payment schedules with borrowers, but can only do so if they know the borrowers' circumstances.
If repayment is due and you cannot make the monthly payment until you begin working, you should notify your lender(s) and request a forbearance or deferment until you begin work.
Here are a few more specifics about bar loans:
- Borrow up to $15,000.00, depending on the lender
- Must remain within the aggregate limits set by private lenders
- Must be creditworthy to be eligible
- Disbursements are made based on a review of the Bar Study Loan Certification Request form
- Disbursements are sent directly to the borrower - Please be sure that your lender has the correct address information for all disbursement periods
- Some lenders require that you must have previous borrowing relationship
If you wish to apply for a bar study loan please review the bar loan comparison chart and submit an application with your preferred lender. You must also submit the Bar Study Loan Certification Request form to the Office of Student Financial Services once your loan has been approved by your lender.