Bar Study Loans are available to students in their third year at Willamette College of Law or recent graduates. Bar Study Loan funds are available for expenses incurred for and associated with preparing for the bar exam, including cost of living.
Bar Study Loans are not federally guaranteed loans and cannot be consolidated with federal loans upon graduation. Bar Study Loans, not being federally guaranteed loans, are not covered by any of the protections or rights of federal loans, including loan forgiveness programs, forbearances, or deferments. The Office of Financial Aid strongly encourages you to exhaust all of your federal borrowing eligibility prior to applying for a Bar Study Loan.
Bar study loans are private loans between student and lender. A credit check is required and, dependent upon credit history, the addition of a cosigner may be necessary. Applying with a creditworthy cosigner may increase the likelihood of your application being approved and may assist in obtaining a lower interest rate.
The interest rate of Bar Study Loans can vary widely from lender to lender. Each lender's web site offers examples of the current rates. The rates are variable and not fixed, and may be adjusted monthly or quarterly according to market changes. Additional items to consider when choosing a lender are length of grace period, length of repayment period, and whether the lender offers a cosigner release. Do your research before choosing a lender!
Funds are disbursed directly to the student by check to the permanent address listed on the application.
- Review each lender's loan terms.
- Choose a lender.
- Willamette is currently aware of five lenders who offer Bar Study Loans. Those are listed below. You are welcome to search for additional lenders. Willamette will certify a loan for the lender you choose.
- Apply for a Bar Study Loan through your chosen lender.
- Most lenders will require proof that you are graduating. Check with your lender regarding satisfactory documentation. This may include one or more of the following items or additional items not listed here.
- Copy of your latest transcript.
- Specific form to be completed by Law Student Services.
- Specific form to be completed by the Office of Financial Aid.
- Electronic certification completed by the Office of Financial Aid.
- Your lender will send the funds for your loan to you directly once all information has been received.
Bar Study Loan Lenders
The lenders listed below are the five lenders which are offering Bar Study Loans according to Willamette University's research. You are encouraged to search for additional lenders and choose the lender you are most comfortable with. Willamette will process a Bar Study Loan for the lender you choose even if they are not on this list.
|Discover Student Loans||(877) 728-3030||www.discoverstudentloans.com|
(Please note: You must contact the Office of Financial Aid
once you have been approved for a PNC Bank Bar Loan.
We will not know to certify your loan until you have
notified us of your approval.)
|Sallie Mae||(888) 2-SALLIE||www.salliemae.com|
|Wells Fargo||(800) 658-3567||www.wellsfargo.com/student|