Bar Loans
Bar Loans are available to law students graduating from Michigan State University College of Law, although in some cases lenders will approve a loan after graduation. Loans are used to cover expenses such as Bar Review courses, Bar application fees and related expenses for bar study. Approval for Bar Loans is determined by the lender; in some cases students must have a co-signer or co-borrower. Although payment from a Bar Loan usually is made directly to the borrower, the Office of Financial Aid still must approve and certify most Bar Loans.
While the Office of Financial Aid does not endorse any specific Bar Loan we do encourage you to read all fine print on websites and applications. We also encourage you to make sure you have taken any student and/or alternative loan already available to you for the aid year before seeking a Bar Loan.
***Please note you cannot consolidate Bar Loans with your Stafford and/or Direct Loans.***
| CITIASSIST | 5/3rd Bank Bar Study Loan | LAWLOANS | |
| Maximum | $ 15,000 | $15000 | $ 15,000 |
| Grace Period | 9 mo | 9 mo | 9 mo |
| Interest Rate | (see lender website) | (see lender website) |
As low as Prime + 0 (with co-signer) |
| Fees | (see lender website) | (see lender website) |
(please contact Sallie Mae at 800-984-0190) |
| Repayment Period (years) | 15 | 15 standard (may be up to 30) | 10-25 |
| PNC Solution Loan for Bar Study | WELLS FARGO BAR EXAM LOAN* | |
| Maximum | $15000 | $12000 |
| Grace Period | 9 mo | 6 mo |
| Interest Rate | (see lender website) | (see lender website) |
| Fees | (see lender website) | None |
| Repayment Period (years) | 20 | 15 |
* Must be a current Wells Fargo customer.