Law School Loans

The verdict is in: law students prefer Earnest private student loans.

Want evidence? Check our our low rates and flexible payments and you be the judge.

Benefits of Earnest private student loans

  • Fast application and approval process
  • 9-month grace period (3 months more than most lenders)
  • No fees for origination, disbursement, prepayment, or late payment
  • Skip a payment once per year (once repayment period has started)
  • Expert support from our Client Happiness team
  • 0.25% Auto Pay discount
  • Covers up to 100% of school’s certified cost of attendance

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Law school private student loan interest rates

Earnest offers low fixed and variable rates and allows students to choose which they prefer. Learn about the difference between variable and fixed interest rates.

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Starting at
2.79%
( including 0.25% Auto Pay discount )
variable rates
Are loans that have an interest rate that will fluctuate over time
Starting at
4.49%
( including 0.25% Auto Pay discount )
fixed rates
Are loans that have an interest rate that will not fluctuate over time
Starting at
2.79%
( including 0.25% Auto Pay discount )
variable rates
Are loans that have an interest rate that will fluctuate over time
Starting at
4.49%
( including 0.25% Auto Pay discount )
fixed rates
Are loans that have an interest rate that will not fluctuate over time

Common questions about law school loans

Can you get student loans for law school?

Law students should first use the FAFSA to apply for federal financial aid. After maxing out Federal Direct unsubsidized loans, students can consider Federal Direct PLUS loans (which have a flat interest rate and a mandatory origination fee) and private loans (which typically have no fees, and rates that depend on your credit history). 

Law students should first use the FAFSA to apply for federal financial aid. After maxing out Federal Direct unsubsidized loans, students can consider Federal Direct PLUS loans (which have a flat interest rate and a mandatory origination fee) and private loans (which typically have no fees, and rates that depend on your credit history). 

How much can you take out in loans for law school?

Grad students (including law students) are eligible to take out up to $20,500 in Federal Direct unsubsidized loans each year. Federal Direct PLUS loans and private student loans do not have a cap.

Grad students (including law students) are eligible to take out up to $20,500 in Federal Direct unsubsidized loans each year. Federal Direct PLUS loans and private student loans do not have a cap.

What is the difference between Federal Direct PLUS loans and private student loans?

Federal Direct PLUS loans are offered by the government, while private loans are offered by private lenders. Federal PLUS loans are available through the FAFSA, and a good credit history is not required to qualify. However, Federal PLUS loans do have a mandatory loan origination fee, and a flat interest rate. Private student loans typically have no loan fees, and your interest rate depends on your credit profile or that of your cosigner, if applicable.

Federal Direct PLUS loans are offered by the government, while private loans are offered by private lenders. Federal PLUS loans are available through the FAFSA, and a good credit history is not required to qualify. However, Federal PLUS loans do have a mandatory loan origination fee, and a flat interest rate. Private student loans typically have no loan fees, and your interest rate depends on your credit profile or that of your cosigner, if applicable.

3 quick steps to your law school loan

1) Check your eligibility

All you need is the name of your law school and an estimate of your credit score.

2) Fill out an application

You (and your cosigner, if you have one) add further financial details to help us fully understand you and your needs.

3) Choose your preferred loan options

Once approved, customize your loan repayment plan—then get back to preparing for class.

Pick the in-school payment that fits your budget

  • Deferred Payment (not available in AL, AZ, CA, FL, MA, MD, MI, ND, NJ, NY, OH, PA, and WA): Waiting till the end of your grace period to make payments means the highest total cost.
  • Fixed $25 Payment: Making small monthly payments while in school reduces your accrued interest.
  • Interest-Only Payment: Paying the accrued interest each month is the middle ground for in-school repayment options.
  • Principal & Interest Payment: Making full payments right away makes the biggest impact on your total loan cost.

    See loan cost examples for each repayment option. 

Learn more about paying for law school on our blog