Sallie Mae Bar Study Loan Helps Law Students Finance Expenses Not
Covered by Federal Student Loan Programs
NEWARK, Del.–(BUSINESS WIRE)–As law school graduates ready for their next challenge: the bar exam,
Sallie Mae — the nation’s saving, planning, and paying for college
company — is again offering a responsible option to finance costs not
covered by federal student loan programs, including bar review course
fees, exam fees, and living expenses incurred while preparing for the
Mae Bar Study Loan has among the lowest annual percentage rates
available from national private education lenders. Rates are variable,
and starting rates range from 3.87
percent APR to 10.58 percent APR. In addition, customers who make
scheduled monthly payments by automatic debit receive a 0.25
percentage point interest rate reduction.
Students who plan to take the bar exam within 12 months of graduating,
who are enrolled at least half time in their final year of study at an
American Bar Association-accredited law school, or who have graduated
from one within the past 12 months, are eligible to apply for the Bar
In addition to competitive interest rates, Sallie Mae’s Bar
Study Loan offers:
No application, origination or disbursement fees, and no prepayment
penalties. Loan funds are sent directly to customers, who also
receive free access to their FICO®
Credit Scores on a quarterly basis.
Deferred payments while in school. Customers may defer payments
as long as they are at least half-time students and for nine months
after they graduate or leave school.
Interest-only payments. Customers can choose the standard
repayment of principal and interest, or ask to make interest-only
payments for the first two or four years after graduation, followed by
monthly principal and interest payments for the remainder of the
“For many J.D. candidates, law school coursework is demanding, but it’s
merely a warm up for the big game; the bar exam,” said Charlie Rocha,
executive vice president and chief marketing officer, Sallie Mae.
“Sallie Mae has been providing competitive financing options for law
students for decades. The Sallie Mae Bar
Study Loan helps relieve the stress of paying bills and expenses so
students can channel all of their concentration into passing the bar and
beginning their legal careers.”
Sallie Mae also offers the Smart
Option Student Loan for Graduate Students, a competitive financing
option for students seeking a law degree or another graduate program
such as a master’s, doctorate, medical, dental, or veterinary degree.
Sallie Mae’s Smart Option Student Loan for Graduate Students offers
fixed and variable interest rates, choice of repayment options, and no
origination fees or prepayment penalties. Graduate students may qualify
for variable rates starting from 2.87
to 7.86 percent APR or fixed rates of 5.74
to 8.56 percent APR.
For more information or to apply online for Sallie Mae’s Bar Study Loan,
or start the application process by calling Sallie Mae at 1-877-279-7172.
For more tips, tools, and resources that can help students and families
save, plan, and pay for college, visit SallieMae.com.
About Sallie Mae
Sallie Mae (Nasdaq: SLM) is the nation’s saving, planning, and paying
for college company. Whether college is a long way off or just around
the corner, Sallie Mae offers products that promote responsible personal
finance, including private education loans, Upromise rewards,
scholarship search, college financial planning tools, and online retail
banking. Learn more at SallieMae.com.
Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are
not sponsored by or agencies of the United States of America.
Beth K. Toll, 302-463-0109