Bar Study from Sallie Mae Bank

Updated November 22, 2021
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Check your student loan rates

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Fixed APR
5.75 - 12.43%
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Variable APR
3.15 - 11.56%
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Amount
up to $15,000
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Grace period
9
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Degree
Graduate
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Co-signer required
Yes
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Options

  • Degree:
    Graduate
  • Bank:
    Sallie Mae Bank
  • Credit Level:
    Fair (580-669)
  • When funds are available:
    10 business days.

Fees

  • Origination fee
    No origination fee.
  • Early payment fee
    No early payment fees.

Pros & Cons

Pros:
  • No origination fee or prepayment penalty
  • Autopay discount
Cons:
  • Information not available on minimum qualifying credit scores or income

Variable rates

Rates
3.15 - 11.56%
Term
60 - 180 months
Loan Amount
$1,000 - $15,000

Fixed Rates

Rates
5.75 - 12.43%
Term
60 - 180 months
Loan Amount
$1,000 - $15,000
Autopay
0.25%*
* In case of using Autopay service your rate is reduced by 0.25%
View all Rates & Fees

Repayment Options

Make no scheduled payments while you’re in school at least half-time and in grace (nine months after leaving school).

Requirements

  • What you need to get approved (Qualifications)
    FICO® score 600 or higher.
  • Residence

    Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend a participating school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and provide an unexpired government-issued photo ID to verify their identity.

  • Requirements Description
    • Permanent address. Note: If you've lived at your permanent address less than one year, you'll need to provide your previous address
    • Social Security Numbers of the borrower, cosigner and student, if applicable
    • School information to include name, enrollment status, degree and course of study
    • Academic period of enrollment and year in school
    • Loan amount requested and other financial aid the student expects to receive
    • Your employment information (company name and gross income)
    • Financial information, including your bank accounts, and your monthly mortgage or rent payments
    • Name and contact information for two personal contacts (not required for cosigners)

Description

  • Sallie Mae® Bar Study Loan is for graduate students. This loan is for students who are enrolled at least half-time in their final year of study at a participating ABA-accredited law school, or have graduated from one within the last 12 months. Students should be sitting for the bar exam no later than 12 months after graduation.

    Nearly half of Bar Study Loan applicants who apply without a cosigner are approved, however, consider adding a cosigner if you think you might need help getting approved.

    The Sallie Mae® bank provides loans with rates between 5.75% and 12.68% Fixed, 2.90% and 11.56% Variable (the lowest rates include the autopay discount).

    The borrower or cosigner must enroll in auto debit through Sallie Mae® to receive a 0.25 percentage point interest rate reduction benefit.

    The Sallie Mae® bank does not charge origination fees or prepayment penalty.