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5 Standout Law School Student Loan Lenders

Graduate to a better law school student loan

Jun 10, 2022

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Standout Law School Student Loan Lenders From Our Partners

College Ave Law Student Loan
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College Ave Law Student Loan

College Ave Law Student Loan

5.0
NerdWallet rating
Min. credit score

Mid-600s

Fixed APR

2.89-14.47%

Variable APR

4.24-14.47%

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Key factsBest for law students who'll need extra time before starting repayment.
Pros
  • You can see if you’ll qualify and what rate you’ll get without a hard credit check.
  • Nine-month grace period is longer than other lenders offer.
  • You can defer payments up to an additional 12 months during clerkship after your grace period.
Cons
  • You must be at least halfway through your repayment term before you can request a co-signer release.
Qualifications
  • Typical credit score of approved borrowers: Mid-700s.
  • Minimum income: $35,000 per year.
  • Loan amounts: $1,000 up to the total cost of attendance.
Available Term Lengths5, 8, 10, 15 or 20 years
DisclaimerCollege Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. (1)All rates include the auto-pay discount. 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. Variable rates may increase after consummation. (2)As certified by your school and less any other financial aid you might receive. Minimum $1,000. (3)This informational repayment example uses typical loan terms for a freshman 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 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 8/11/2025. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
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Ascent Law Student Loan
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Ascent Law Student Loan

Ascent Law Student Loan

5.0
NerdWallet rating
Min. credit score

Low-Mid 600s

Fixed APR

3.69-14.61%

Variable APR

5.08-15.04%

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Key factsBest for law students who want flexible payment options.
Pros
  • Among the best for payment flexibility.
  • Grace period of 9 months is longer than many lenders offer.
  • You can see if you’ll qualify and what rate you’ll get without a hard credit check.
  • Stands out for features that enable faster loan repayment.
Cons
  • You must be enrolled at least half-time to qualify.
Qualifications
  • Typical credit score of approved borrowers or co-signers: Not available.
  • Minimum income: Not available.
  • Loan amounts: up to $400,000.
Available Term Lengths7, 10, 12 or 15 years
Disclaimer*Ascent's undergraduate and graduate student loans are funded by Bank of Lake Mills or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent's Terms and Conditions please visit AscentFunding.com/Ts&Cs. Annual Percentage Rates (APRs) displayed above are effective as of 10/1/2025 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower's credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation.1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. Ascent applicants and borrowers that agree to the AscentUP Terms of Service and Privacy Policy, as well as students associated with an Ascent parent loan application, have access to the AscentUP platform.
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Sallie Mae Undergraduate Student Loan
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Sallie Mae Undergraduate Student Loan

Sallie Mae Undergraduate Student Loan

4.5
NerdWallet rating
Min. credit score

Mid-600's

Fixed APR

2.89-17.49%

Variable APR

4.37-16.99%

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Key factsBest for part-time students and those who want to make payments during school.
Pros
  • One of the few lenders to provide loans to part-time students.
  • Non-U.S. citizens, including DACA students, who live in the U.S. and attend school in the U.S. can apply with a qualified co-signer who is a U.S. citizen or permanent resident.
Cons
  • You can't see if you’ll qualify and what rate you’ll get without a hard credit check.
Qualifications
  • Typical credit score of approved borrowers or co-signers: Does not disclose.
  • Minimum income: Did not disclose.
  • Loan amounts: $1,000 up to 100% of the school-certified expenses.
Available Term Lengths10 to 15 years
DisclaimerLowest rates shown include the auto debit discount. Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. Advertised APRs are valid as of 8/11/2025. Loan amounts: For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website will be subject to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time. Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.
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Earnest Student Loan Refinance
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Earnest Student Loan Refinance

Earnest Student Loan Refinance

4.5
NerdWallet rating
Min. credit score

665

Fixed APR

3.73-9.99%

Variable APR

5.88-9.99%

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Key factsBest for borrowers who want to customize their repayment schedule to pay off debt fast.
Pros
  • Customizable payments and loan terms.
  • Option to skip one payment every 12 months.
  • You can see if you’ll qualify and what rate you’ll get without a hard credit check.
Cons
  • Loans aren't available in Nevada.
Qualifications
  • Typical credit score of approved borrowers or co-signers: 760.
  • Loan amounts: $5,000 to $500,000.
  • Must have a degree: No, but must be within six months of graduation and have income or a job.
Available Term Lengths5 to 20 years
DisclaimerActual rate will vary based on your financial profile. Fixed annual percentage rates (APR) range from 3.98% APR to 10.24% APR (3.73% - 9.99% with .25% auto pay discount). Variable annual percentage rates (APR) range from 6.13% APR to 10.24% APR (5.88% - 9.99% with .25% auto pay discount). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once a month, but there is no limit on the amount that the rate could increase at one time. Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX. Our lowest rates are only available for our most credit qualified borrowers and require selection of our shortest term offered (5 years) and enrollment in our .25% auto pay discount from a checking or savings account. Enrolling in autopay is not required as a condition for approval.
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SoFi Undergraduate Student Loan
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SoFi Undergraduate Student Loan

SoFi Undergraduate Student Loan

5.0
NerdWallet rating
Min. credit score

Mid-600s

Fixed APR

3.43-15.99%

Variable APR

4.64-15.99%

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Key factsBest for flexible repayment options and no fees options.
Pros
  • You can see if you’ll qualify and what rate you’ll get without a hard credit check.
  • Multiple in-school repayment options available, including interest-only and flat-fee, and deferred for undergrad and grad students.
Cons
  • Does not offer bi-weekly payments via autopay.
Qualifications
  • Typical credit score of approved borrowers or co-signers: 700+.
  • Minimum income: Did not disclose.
  • Loan amounts: $1,000 minimum.
Available Term Lengths5, 7, 10 or 15 years
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Which law school student loan is right for you?

Law school costs average almost $67,000 annually, according to data from the American Bar Association. If you’ve exhausted free aid like scholarships to cover those expenses and are torn about which law school loan to borrow, federal loans are a safer bet. Opt for these if:

  • You have bad credit. Direct unsubsidized loans are not credit-dependent. You will need to pass a credit check to get PLUS loans for law school, but these standards aren't as strict as with private lenders. All eligible federal loan borrowers also receive the same interest rate, regardless of their credit score.

  • You want flexible repayment options. Law students finish school owing an average of $145,500 in student debt, according to the National Center for Education Statistics. Federal loans offer more repayment options to handle that debt load, such as income-driven repayment plans, and and may be eligible for law school loan forgiveness or repayment programs.

Private student loans may make sense — and save you money — if you have excellent credit and don’t think you’ll need or qualify for federal loan benefits.

For example, repaying $145,500 in grad PLUS loans with a 6.28% interest rate would cost $196,305 over 10 years. Opting for private loans with an interest rate of 5% would drop that amount to $185,191. The PLUS loan would also come with an origination fee above 4%; most private lenders don’t charge these fees.

Monthly payments on that much debt would be roughly $1,500 for private loans and $1,565 for PLUS loans. Either might be unaffordable if you choose to be a legal services attorney, public defender or prosecutor, whose median starting salaries range from $48,000 to $58,000, according to the National Association for Law Placement. But with federal loans, income-driven payments at that salary could be closer to $250, and Public Service Loan Forgiveness could erase the balance after 10 years.

Projected starting salaries are higher if you plan to practice in the private sector, with a median of $155,000 according to NALP. Wages rise even more if you join a Big Law firm. Still, opting for federal loans can protect you if you don’t land the job or salary you expect. And if you do, you can always refinance law school loans after graduating to recoup some savings.

How to take out loans for law school

Taking out loans for law school requires only a few steps. If you applied for financial aid as an undergrad, you’ll likely know what to do — though there are a couple of differences.

1. Fill out the FAFSA

You must complete the Free Application for Federal Student Aid, or FAFSA, to receive all types of federal financial aid, including work-study and student loans. Many private scholarships and grants require the FAFSA as well.

When completing the FAFSA, indicate that you’re going to be or already are a graduate student. This means you don’t have to include your parents’ information on the form; it also increases your borrowing limits.

2. Complete other required applications

In addition to the FAFSA, some law schools may make you submit the CSS Profile to receive nonfederal financial aid. Alternatively, your school might require an aid application that’s unique to its program.

Unlike on the FAFSA, you may need to provide your parents’ financial information on these forms to receive institutional scholarships or grants. Double-check the application process with the school’s financial aid office — including when its priority filing deadline is — so you don’t miss out on free money.

3. Work directly with private lenders

You don't need to complete the FAFSA for private student loans. If you've decided a private student loan makes sense for you, apply directly with the lender. The lender will likely require proof of your identity, income and law school you're attending, among other information.

Each lender has its own underwriting standards. Be sure to shop around and compare interest rates. You may need a co-signer to get the best possible deal.

Last updated on June 10, 2022

To recap our selections...

NerdWallet's Standout Law School Student Loan Lenders

  • College Ave Law Student Loan: Excellent for Excellent for private student loan
  • Ascent Law Student Loan: Excellent for Excellent for private student loan
  • Sallie Mae Undergraduate Student Loan: Excellent for Excellent for private student loan
  • Earnest Student Loan Refinance: Excellent for Excellent for private student loan
  • SoFi Undergraduate Student Loan: Excellent for Excellent for private student loan
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