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Loans

Below is brief comparison of the types of student loan programs available to graduate students. 

If you are attending two institutions of higher education simultaneously (even if attendance only overlaps 1 day), this will impact your federal student aid eligibility at both schools, and you must notify the Financial Aid Office immediately.

Loan Terms

  • Fixed interest rate of 7.94% (As of 07/01/25)
  • Origination fee of 1.057%
  • Interest begins accruing as soon as funds are disbursed
  • Repayment will begin 6 months after you graduate, withdraw, or are enrolled less than half-time
  • 10 year repayment period

Yearly Amounts

Learn more

Application Requirements

Sample Repayment Schedule

Total Debt at Repayment* Monthly Payment Amount Total Amount Paid Total Interest Paid
$5,000 $50 $6,005 $1,007
$10,000 $100 $12,013 $2,013
$15,000 $150 $18,020 $3,020
$20,000 $200 $24,026 $4,026
$25,000 $250 $30,033 $5,033
$30,000 $300 $36,039 $6,039
$35,000 $350 $42,046 $7,046
$40,000 $400 $48,052 $8,052
$45,000 $450 $54,059 $9,059
$50,000 $501 $60,065 $10,065
*Payment calculated using a fixed interest rate of 3.76% over a 10 year period.

Lenders

Students are responsible for searching for and choosing a lender for the bar study loan.

Loan Terms

Varies based on lender and creditworthiness of borrower and co-signer (if required).

Yearly Amounts

Varies based on lender.

Application Requirements

  • Third year law student or recent graduate
  • Pass credit check
  • Complete paperwork as required by the lender

(Please note that these funds are disbursed directly to the student, unlike the federal loans.)

Recent Federal has eliminated graduate PLUS loans for all new borrowers as of 7/1/2026. There is a legacy provision that allows current borrowers to continue to use this loan:

If a borrower has a Federal Direct Loan made before July 1, 2026, while enrolled in a program of study, the borrower can continue to borrow from the program for 3 academic years or the remainder of their expected time to credential, whichever is less.

Loan Terms

  • Fixed interest rate of 8.94% (As of 07/01/25)
  • Origination fee of 4.228%
  • Interest begins accruing as soon as funds are disbursed
  • Repayment will begin 6 months after you graduate, withdraw, or are enrolled less than half-time
  • 10 year repayment period

Yearly Amounts

Up to the cost of attendance minus other financial aid (individual eligible amounts will be listed on the award letter).

Application Requirements

Sample Repayment Schedule

Total Debt at Repayment* Monthly Payment Amount Total Amount Paid Total Interest Paid
$5,000 $50 $6,005 $1,007
$10,000 $100 $12,013 $2,013
$15,000 $150 $18,020 $3,020
$20,000 $200 $24,026 $4,026
$25,000 $250 $30,033 $5,033
$30,000 $300 $36,039 $6,039
$35,000 $350 $42,046 $7,046
$40,000 $400 $48,052 $8,052
$45,000 $450 $54,059 $9,059
$50,000 $501 $60,065 $10,065
*Payment calculated using a fixed interest rate of 3.76% over a 10 year period.

Cohort Default Rate

Willamette's most recently calculated cohort default rate for federal student loans is 0.0%.

A cohort default rate is a key metric used to assess the financial health of US colleges and universities, particularly those receiving federal student aid. It measures the percentage of a school's borrowers who enter repayment on federal student loans and subsequently default within a specific timeframe, typically three years.

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Willamette University

Office of Financial Aid