Bar Examination Study Loans

Bar Examination loans are non-federal credit based educational loans intended to assist students in paying for bar preparation courses and meeting other financial needs while studying for the Bar Exam.

Students may only submit the application for the Bar Exam Loan usually during their last year before graduation and a certain time period after graduation. The terms and credit criteria for Bar Examination Loans are similar to those for private loan programs. Fees and interest rates may vary upon credit. The maximum amount may vary depending on the lender. Unfortunately, students with negative credit ratings are generally not eligible for Bar Exam Loans.

To Apply for a Bar Examination Loan

1. Select a Lender

The Office of Financial Aid does not maintain Bar Loan lender list. You are free to select any lender you wish. Please keep in mind there are very few lenders that offer the Bar Loan. In order to ensure that you receive the most current and accurate information regarding loans terms and conditions, the Office of Financial Aid recommends that students do as much research as possible before choosing a lender. Please consider the following:

  1. The interest rate will be variable on a quarterly to monthly basis.
  2. Interest rates and loan terms will vary from lender to lender.
  3. Some lenders charge loan and/or origination fees.  These fees will be deducted from your loan amount when the funds are disbursed.
  4. In general, principal payments on these loans are deferred while in attendance but it is best to determine the lender specific deferment and forbearance options before you apply.
  5. The application process usually starts during your last year before graduation and a certain time period after graduation (for example 6-12 months after).

2. Follow Lender's Application Steps

The lender will run a credit check and collect the proper documents from you before the funds can be disbursed directly to you (not to the school). Many students are required to apply with a credit-worthy co-signer.

  1. Complete the lenders online or paper application. Your lender will do a credit check and review your application.
  2. Complete the promissory note process and provide additional documentation if required.
  3. Once you have been approved and submitted all your final documentation, your lender will contact our office and request a school certification. Our office will certify the loan. In most cases this will be done electronically. The lender will disburse the funds directly to you, not the school.

Other Things to Consider

  1. Bar Loans are credit-based. The lender will review a student's credit report when determining eligibility. Generally, a student with an adverse credit history may be denied.
  2. Bar Loans are not guaranteed or subsidized by the federal or state government.
  3. Bar Loans cannot be consolidated, do not offer multiple repayment plans as federal loans, and cannot be considered for loan forgiven.

Bar Costs: What Does Federal Aid Cover?