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CHARLES WIDGER SCHOOL OF LAW

BAR EXAM LOAN INFORMATION

Bar exam loans are offered by some educational loan lenders. These loans are designed to assist graduating law students in their efforts to finance bar exam-related expenses. Because these loans are not considered part of your academic year financial aid, the loan will need to be certified by the Office of Financial Aid in order to verify that you are a third year law student and expected to graduate. Only one bar loan application will be certified per student. Below is a chart of some educational lenders that offer bar exam loans. 

Wells Fargo requires you to have a prior banking or borrowing relationship while PNC, Discover, and Sallie Mae do not. Your loan application will be approved, by the lender, according to your creditworthiness. If approved, a loan check will be mailed directly from the lender to you at the address listed on your application.

Because these loans are not regulated by the government, we hope that you thoroughly review the terms of each lender before applying for the bar exam loan. Understanding the terms of each lender will help you make an informed decision before submitting your application.

Borrowing Limit: $15,000

Cumulative Debt Limit: None

Origination Fee: 0%

Repayment Incentives:

  • Get 0.50% off your rate with automated payment from your checking or savings account.
  • A co-signer release option is available after the initial 48 consecutive on-time monthly payments.

Eligibility:

  • U.S. citizens or permanent residents. Have lived in the U.S. the previous two years.
  • Meet debt to income requirements.

Borrowing Limit: $15,000

Cumulative Debt Limit: None

Origination Fee: 0%

Repayment Incentives:

  • Get 0.25% rate reduction when automatic payments are made.

Eligibility:

  • Enrolled in final year of law program or have graduate within 12 months.
  • Sitting for the bar no later than 12 months after graduation.
  • U.S. citizen, U.S. national, or permanent resident alien within conditions and with proper evidence of eligibility.
  • An international student borrowing with credit worthy co-signer who is a U.S. citizen or non-citizen permanent resident.

Borrowing Limit: $12,000

Cumulative Debt Limit: 4180,000 (including bar loan)

Origination Fee: 0%

Repayment Incentives:

  • 0.25% rate reduction at repayment upon verification of graduation
  • 0.25% rate reduction when automatic payments are made.

Eligibility:

  • Current Wells Fargo customer (checking/savings account or prior loan history)
  • Enrolled in final year of law program or have graduated within 30 days.
  • Have an established positive credit history.
  • U.S. citizen, U.S. national or permanent resident alien without conditions and with proper evidence of eligibility.