Best Law School Loans of 2024: Compare Student Loan Rates and Options

Are you considering going to law school but worried about how to finance your education? Student loans can be a helpful tool to cover the costs of law school, but it’s essential to compare rates and terms to find the best option for you. In this blog post, we will discuss some of the best law school loans available in 2024 and provide information on how to qualify and apply for them.

One of the top contenders for law school loans is Earnest, which offers competitive variable and fixed APR rates with the option to skip a payment per year. They also provide a 9-month grace period for graduate students before repayment begins. However, they do not offer a co-signer release program, so keep that in mind if you plan to use a co-signer.

Another reputable lender is College Ave, which offers a unique 8-year term option and a longer grace period compared to other lenders. They also provide a co-signer release policy after 24 payments. However, they require a minimum credit score in the mid-600s for eligibility.

Sallie Mae is another popular choice for law school loans, offering loans up to the total cost of attendance with no origination fees. They provide a 0.25% rate discount for enrolling in autopay and offer various repayment options, including a co-signer release after 12 monthly payments.

If you’re looking for federal loan options, the Federal Graduate PLUS Loan and Federal Direct Unsubsidized Loan are worth considering. These loans offer low fixed interest rates and multiple repayment options, making them a reliable choice for many law students.

When applying for law school loans, make sure to compare interest rates, fees, repayment terms, and eligibility requirements. Federal loans may be easier to qualify for, but private loans could offer lower rates for well-qualified applicants. Be sure to fill out the FAFSA to access federal aid and consider your career goals and potential earnings before taking out loans.

Overall, law school loans can be a valuable investment in your future, but it’s essential to choose the right loan option for your financial situation. By comparing rates and terms from different lenders, you can find the best loan to support your legal education.