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Best law school loans in July 2025

Updated Jul. 07, 2025

What to know first: The costs of law school, including tuition, fees, housing and books, are difficult for most people to pay without additional financing. The average law school graduate owes over $100,000 in student loan debt. When borrowing that much money, finding the right loan for your needs and your financial future is essential.

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Sallie Mae: Bankrate 2025 Award Winner Best For Graduate Students

4.6
Fixed APR from
3.19- 14.99%
Loan term
15-15 yrs
Loan amount
$1,000-100% cost of attendance
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Check rate with Sallie Mae

College Ave: Bankrate 2025 Award Winner Best For Multiyear Approval

4.5
Fixed APR from
3.19- 14.47%
Loan term
5-20 yrs
Loan amount
$1,000-$150,000
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Check rate with College Ave

STUDENT LOAN

Earnest: Best for flexible repayment options

4.4
Fixed APR from
3.19- 14.30%
Loan term
5-15 yrs
Loan amount
$1,000-100% cost of attendance
See offersArrow Right

Check rate with Earnest

SoFi: Bankrate 2025 Award Winner For Borrowers With Good Credit

4.8
Fixed APR from
3.23- 14.83%
Loan term
5-15 yrs
Loan amount
$1,000-100% cost of attendance
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Check rate with SoFi

Citizens Bank: Bankrate 2025 Award Winner Best For Parents

4.6
Fixed APR from
3.24- 13.28%
Loan term
5-15 yrs
Loan amount
$1,000- $300,000
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STUDENT LOAN

Custom Choice: Best for multiyear loans

4.2
Fixed APR from
3.24- 15.71%
Loan term
7-15 yrs
Loan amount
$1,000-$180,000
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STUDENT LOAN

ELFI: Best for customer service

4.4
Fixed APR from
3.69- 14.22%
Loan term
5-15 yrs
Loan amount
$1,000-100% cost of attendance
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Ascent: Bankrate 2025 Award Winner Best For Bootcamps And Vocational Programs

4.7
Fixed APR from
3.89- 14.41%
Loan term
5-20 yrs
Loan amount
$2,001-$400,000
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Check rate with Ascent

STUDENT LOAN

INvestED: Best for Indiana residents

Fixed APR from
4.62- 8.58%
Loan term
5-15 yrs
Loan amount
$1k-$500K
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Check rate with Credible

STUDENT LOAN

MEFA: Best for low maximum APR

Fixed APR from
7.24- 8.89%
Loan term
15-15 yrs
Loan amount
$1,500- 100% total cost of attendance
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STUDENT LOAN

Federal grad Plus loan: Best for longest consolidation term and student protections

Fixed APR from
8.94- 8.94%
Loan term
10-25 yrs
Loan amount
$1k-$500K
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A closer look at the top lenders for law school student loans

SoFi: Bankrate 2025 Award winner best for borrowers with good credit

Rating: 4.8 stars out of 5
4.8

Overview: SoFi offers a range of financing options for students and stands out for its available discounts and range of repayment terms.

Fixed APR
3.23%–14.83%
Loan amount
$1,000-100% cost of attendance
Loan term
5-15 yrs

College Ave: Best for multiyear approval

Rating: 4.5 stars out of 5
4.5

Overview: College Ave offers loans for U.S. residents and international students, including a Bar Study Loan, which covers exams and test prep fees. Borrowers will have five repayment terms to choose from and can defer payment during their clerkship.

Fixed APR
3.19%–14.47%
Loan amount
$1,000-$150,000
Loan term
5-20 yrs

Sallie Mae: Bankrate 2025 Award winner best for graduate students 

Rating: 4.6 stars out of 5
4.6

Overview: Sallie Mae is one of the most well-known private student loan lenders, and provides funding for undergraduate and graduate students — even those going to school part time. It stands out for flexibility in repayment and range of loan amounts.

Fixed APR
3.19%–14.99%
Loan amount
$1,000-100% cost of attendance
Loan term
15-15 yrs

Earnest: Best for flexible repayment options

Rating: 4.4 stars out of 5
4.4

Overview: Earnest is a private student loan lender offering flexible repayment options, no late fees and competitive rates. Graduates in repayment can take advantage of a longer grace period and the ability to skip a payment without penalty once every year.

Fixed APR
3.19%–14.30%
Loan amount
$1,000-100% cost of attendance
Loan term
5-15 yrs

Citizens Bank: Bankrate 2025 Award winner best for parents

Rating: 4.6 stars out of 5
4.6

Overview: Custom Choice awards borrowers for graduating with a 2 percent principal reduction discount. There is also a 0.25 percent discount for enrolling in autopay and the lender and does not charge any fees.

Fixed APR
3.24%–13.28%
Loan amount
$1,000- $300,000
Loan term
5-15 yrs

Custom Choice: Best for multiyear loans

Rating: 4.2 stars out of 5
4.2

Overview: Custom Choice offers prequalification for students looking to fund their undergraduate and graduate educations. It awards borrowers for graduating and does not charge any fees.

Fixed APR
3.24%–15.71%
Loan amount
$1,000-$180,000
Loan term
7-15 yrs

ELFI: Best for customer service

Rating: 4.4 stars out of 5
4.4

Overview: ELFI is a nonprofit organization that provides funding for undergraduate and graduate borrowers. It offers nationwide coverage and has a number of repayment terms.

Fixed APR
3.69%–14.22%
Loan amount
$1,000-100% cost of attendance
Loan term
5-15 yrs

Ascent: Bankrate 2025 Award winner best for bootcamps and vocational programs

Rating: 4.7 stars out of 5
4.7

Overview: Ascent is an online lender that offers competitive rates and puts financial literacy at the forefront. Its law school loans come with a variety of repayment terms and plenty of discount options.

Fixed APR
3.89%–14.41%
Loan amount
$2,001-$400,000
Loan term
5-20 yrs

INvestED: Best for Indiana residents 

Overview: INvestED has a long history of serving students in Indiana. It functions as a financial resource and helps borrowers throughout the funding process and has scholarships available.

Fixed APR
4.62%–8.58%
Loan amount
$1k– $500k
Loan term
5-15 yrs

MEFA: Best for low maximum APR

Overview: MEFA offers loans for students nationwide and has one of the lowest maximum APRs available. It can also be a good option for borrowers of any credit background.

Fixed APR
7.24%–8.89%
Loan amount
$1,500- 100% total cost of attendance
Loan term
15-15 yrs

Federal grad PLUS loan:  Best for longest consolidation term and student protections

Overview: Federal student loans come with competitive interest rates and a number of repayment plans. There is also the option for six months of deferment once you drop below half time.

Fixed APR
8.94%–8.94%
Loan amount
$1k– $500k
Loan term
10-25 yrs

Calculate your law school loans payment

Use Bankrate's calculator to find the perfect loan repayment plan for you. Enter different loan amounts, terms and interest rates to compare estimated monthly payments and see how much total interest you'll pay.

Law school interest rates

Minimum rates have dropped at several private student loan lenders, giving strong credit students a lower-cost alternative to federal student loans. Qualified borrowers may be able to get rates that are up to 50 percent less than federal graduate loans. 

With all the turmoil in federal student lending, it may make sense to consider a private law school loan, since they are not affected by government policy changes. If you choose a private student lender with no fees, you'll also save on the 4.288% fee you'll pay for a federal student loan. 

What is a law school loan?

Law school loans are a type of student loan that typically are designed to help student pay for an education to pursue a Juris Doctor degree. Both federal and private loans are available. APRs are set once a year for federal student loans, and the rates are the same regardless of your credit profile. 

Private student loans can be significantly lower or up in the double digits depending on your credit score and overall creditworthiness. Both types of loans can be used to finance tuition and other expenses related to law school. 

Private law school lenders offer both fixed and variable rate options, with interest that accrues once you begin classes. Most private lenders offer repayment options that may include deferment, interest-only or small principal payments while in school. 

Pros and cons of law school loans

Weighing the benefits and drawbacks of federal and private law school loans can help you determine whether they're the best path to financing your education.

Pros

  • Checkmark Icon

    Private student loans offer strong credit borrowers at lower rates than federal student loans.

  • Checkmark Icon

    Federal loans come with more hardship protections and longer consolidation repayment terms.

  • Checkmark Icon

    Private student loans are available with no fees.

  • Checkmark Icon

    Federal student loan rates are the same regardless of your creditworthiness.

Cons

  • Private student loans may come with double-digit rates if you have lower credit scores.

  • Federal student loan rates are higher for excellent credit borrowers.

  • Private student loans don't come with the same hardship, forbearance or repayment flexibility that federal loans offer.

  • Federal student borrowing may be complicated by recent changes in student lending under the Trump administration.

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BANKRATE EXPERT FAQ

Ask the experts: Should you take out a bar exam loan?


Bankrate Expert Contributor, Student Loans

"When you are studying for the bar exam, you may not have any income, but still need to pay for living expenses. A bar study loan can be used to pay for these costs. While the cost may be lower than using a credit card to pay for groceries, interest will still accrue. Either way, you should try to minimize the amount you borrow. Note that some bar study loans may be dischargeable in bankruptcy, so if you don’t pass the bar, you may be able to get the bar study loan discharged. (Education loans used to pay for law school, on the other hand, are more difficult to discharge in bankruptcy.)"

Writer and Consumer Lending Analyst

"Like other private student loans, a bar exam loan can be costly, particularly if you don't have good credit or a creditworthy cosigner. Yes, it can help you cover living and other expenses while you're prepping for the big exam, but there are other options to consider. Above all else, maximize your federal, state and institutional financial aid, plus private scholarships. If you still need funds to get by while your nose is buried in books, consider other borrowing options, including a loan from a financially-stable family member or friend. As always, borrow only what you truly need and can realistically afford to repay."

How to get a law school loan

Qualification requirements for law school loans depend on the type of loan and the lender. Most lenders will require at least half-time enrollment and a nonadverse credit history. 

Typically, you must also be a U.S. citizen or permanent resident or have a cosigner who meets the requirement and must attend a school in the U.S. If you meet the requirements, there are a few steps to take to receive your loan.

  1. Fill out the FAFSA

    If you want to take out a federal student loan for law school, you'll need to fill out the FAFSA. Applications for the 2025-2026 FAFSA opened on October 1, 2024, and close on June 30, 2025. Some institutions and states have individual deadlines, so be aware of every deadline so you don't leave financial aid on the table.

  2. Get prequalified with private lenders

    Prequalification lets you see what interest rates and terms you’re eligible for without a hard credit check. After prequalifying with several lenders, compare offers and choose the best.

  3. Apply

    After choosing your lender or lenders, apply online, over the phone or in person. You’ll undergo a credit check. You’ll also have to provide documentation on your school, citizenship, employer and cosigner, if relevant.

  4. Sign loan documents

    If the lender approves your application, you’ll sign loan documents to complete the agreement. Your lender will confirm your cost of attendance with your school and will typically release the funds directly to it.

Frequently asked questions about law school loans

How we chose the best law school student loan lenders 

Bankrate's trusted student loans industry expertise

48

years in business

25

lenders reviewed

16

loan features weighed

400

data points collected

The Bankrate team uses a 16-point system to evaluate student loan lenders. This scoring criteria measures how lenders perform across three main categories.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.