Loans

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

Up to $20,500

Application Requirements

• Valid FAFSA filed and available to Willamette
• Master promissory note (MPN)
• Entrance counseling

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.

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

• Valid FAFSA filed and available to Willamette
• Complete grad plus credit authorization
• Pass credit check (an endorser may be added)
• Master promissory note (MPN)
• Entrance counseling

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.)