- Covers up to 100% of your costs1 for a law school degree2
- Flexible repayment options and zero origination fees
- A three minute application makes it simple to pay for law school
Here's our current law school loan interest rates we offer:
Variable rates
5.59%
to 14.47% APR
Fixed rates
3.59%
to 14.47% APR
(all rates shown include auto-pay discount)3
Variable and Fixed Rates Explained
If you’re considering law school, you know that it’s an expensive venture. But it’s a path with many opportunities beyond the classroom and courtroom. That’s why you should consider all the costs associated with law school so you’re prepared and informed before making the decision. Start with deciding whether you want a fixed or variable interest rate3.*all rates shown include auto-pay discount3
Variable Rate
5.59%
to 14.47% APR
Variable interest rates are tied to a market index and will fluctuate - up or down - over time with the market. This will change your monthly payment amount.
Changes to the rate are typically based on a publicly available interest rate index such as the prime rate or SOFR.
Fixed Rate
3.59%
to 14.47% APR
Fixed interest rates stay the same for the entire repayment period. You will have the same monthly payment amount every month after entering full repayment.
How Our Law School Loan Compares
| College Ave | Sallie Mae | Discover | |
|---|---|---|---|
| Number of Repayment Options |
4 |
3 | 4 |
| Select Your Own Repayment Term |
|
|
|
| Apply in 3 Minutes |
|
|
|
| Grace Period | 9 months | 9 months | 9 months |
| Deferment During Clerkship |
|
|
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*Comparisons based on information obtained on lenders’ websites as of October 8, 2024.
Focus On Preparing for the Bar Exam, Not How to Pay for It
You’re dedicated to the law, and we’re dedicated to you. We offer great rates and put you in control of how quickly you pay back your law school loan.
College Ave also offers a Bar Study Loan that covers exam fees, test prep fees and living expenses for recent law school graduates.
Overwhelmed? Don't Be! Just Follow These Easy Steps
1
Before school starts, figure out how much you’ll need to borrow. A good estimate is to take your cost of attendance and subtract any scholarships, grants, subsidized federal loans, and savings you plan to use.
2
Start shopping around for loans and apply for a law school student loan about 30 days before classes start. Know who your cosigner is, if you have one, and choose your loan term and repayment options.
3
Once approved, we’ll work directly with your school to certify the loan. After the money is sent to your school, be on the lookout for your first loan statement. If you selected an in-school repayment option, consider signing up for auto-pay.
Apply Now for a Loan Check Application Status 1
Before school starts, figure out how much you’ll need to borrow. A good estimate is to take your cost of attendance and subtract any scholarships, grants, subsidized federal loans, and savings you plan to use.
2
Start shopping around for loans and apply for a law school student loan about 30 days before classes start. Know who your cosigner is, if you have one, and choose your loan term and repayment options.
3
Once approved, we’ll work directly with your school to certify the loan. After the money is sent to your school, be on the lookout for your first loan statement. If you selected an in-school repayment option, consider signing up for auto-pay.
Apply Now for a Loan Check Application StatusFAQ's for Law School Student Loans
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How much in student loans can I get for law school?
The answer is, “it depends”. It depends on whether you're taking out a federal student loan for law school or a private student loan.
Law school students can take out up to $20,500 in Federal Direct unsubsidized loans each year they're in school. Federal Direct PLUS loans do not have a maximum cap, you can borrow up to your cost of attendance each year.
If you're taking out a private law school student loan, the maximum amount you can borrow may depend on the lender. College Ave's law school loans allow you to borrow up to the total cost of attendance for law school, minus any federal loans, grants, scholarships, and other aid you may have received.1
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What is the average cost of law school?
This changes year over year, but in 2022 the average cost of 3 years of law school was about $220,000. You can read more about law school costs in our complete guide.
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Do I have to start paying back my loan while I’m studying for the bar exam?
This will depend on the type of loan you take out. You may qualify for a deferment period if you are clerking or working after your graduate.
If you need extra financial assistance while you're studying for the bar exam, we do offer a separate Bar Study Loan. This allows you to primarily focus on your studies and passing the bar without having to stress over your finances.
Footnotes
1
As certified by your school and less any other financial aid you might receive. Minimum $1,000. Maximum $150,000.
2
You must be enrolled in a Juris Doctor (JD) degree program at an eligible school to qualify for the College Ave Student Loans Law School Loan.
3
Variable rates may increase after consummation. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit.
4
This informational repayment example uses typical loan terms for a first year law school student borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 6.34% fixed Annual Percentage Rate ("APR"): 42 monthly payments of $25 while in school, followed by 96 monthly payments of $151.86 while in the repayment period, for a total amount of payments of $15,703.15. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
5
This informational repayment example uses typical loan terms for a first year law school student borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 6.37% fixed Annual Percentage Rate ("APR"): 120 monthly payments of $143.25 while in the repayment period, for a total amount of payments of $17,189.59. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.