Law school is one of the biggest financial commitments you can make. At private law schools, tuition alone runs $50,000 to $70,000 per year. Public law schools cost $30,000 to $45,000 per year for in-state students. Add living expenses, books, and bar prep, and the total cost of a J.D. can easily top $200,000.

The average law school graduate carries between $130,000 and $160,000 in student loan debt. Meanwhile, the median lawyer salary sits around $95,000, with a wide range from roughly $60,000 in public interest law to $230,000 or more at large firms (often called BigLaw).

Starting July 1, 2026, the One Big Beautiful Bill Act (OBBBA) eliminates the Grad PLUS loan program for new borrowers. That means law students who start borrowing after that date will face a hard cap of $20,500 per year in federal Direct Unsubsidized Loans, with an aggregate limit of $138,500 for graduate borrowing. For most law students, that will not come close to covering full tuition, let alone living costs.

Private student loans are about to become a much bigger part of the law school funding equation. This guide compares the best options available right now.

Federal Loans First

Before turning to private lenders, max out your federal student loans. Even with the current graduate rate of 7.94%, federal loans offer protections that private loans do not.

Why federal loans matter for law students:

Income-driven repayment (IDR): Monthly payments based on what you earn, not what you owe. This is critical if you plan to work in public interest, government, or lower-paying legal roles.
Public Service Loan Forgiveness (PSLF): After 120 qualifying payments while working for a qualifying employer, the remaining balance is forgiven. Many prosecutors, public defenders, and legal aid attorneys rely on this program.
Deferment and forbearance: Federal loans offer built-in safety nets during periods of unemployment or financial hardship.
No credit check on Direct Unsubsidized Loans: You qualify based on enrollment, not your credit score.

What changes after July 1, 2026:

Grad PLUS loans are no longer available to new borrowers
The annual federal borrowing limit for graduate students is $20,500
The aggregate federal limit for graduate borrowing is $138,500
Law students starting after this date will need to cover the gap with private loans, scholarships, or savings

Bottom line: Borrow the full $20,500 in federal Direct Unsubsidized Loans each year before applying for any private loan. The borrower protections are worth the slightly higher rate.

What Law Students Should Look For

Law school borrowing is different from undergraduate borrowing. The amounts are larger, the timeline is longer, and your career path has a big impact on which loan features matter most.

Key factors to evaluate:

Interest rate: Compare both fixed and variable rates. A lower variable rate can save money in the short term, but a fixed rate gives you certainty over a 10 to 20 year repayment period.
Fees: Some lenders charge origination fees of 1% to 5% of the loan amount. On a $50,000 loan, a 4% fee costs $2,000 before you receive a dollar. Look for lenders with zero fees.
Grace period: Law school loans should offer at least a 6-month grace period after graduation. Some lenders offer 9 months, which gives you time to study for and take the bar exam before payments begin.
Cosigner release: If you need a cosigner to qualify, find out how long before you can release them. Some lenders offer release after 12 months of on-time payments, others after 24 months, and some offer no release at all.
Coverage amount: Make sure the lender covers up to 100% of the school-certified cost of attendance (COA), including living expenses.
Multi-year approval: Some lenders let you apply once and receive approval for all three years of law school. This saves time and avoids the risk of being denied in your second or third year.
Career support: A few lenders offer career coaching, networking events, or job placement help. These extras can be genuinely useful during your job search.
Repayment flexibility: Look for options like interest-only payments while in school, the ability to skip a payment, or multiple repayment term lengths.

Best Private Student Loans for Law School

These six lenders offer loan products designed for law students or graduate students. Rates shown are current as of April 2026 and include autopay discounts where applicable. Your actual rate depends on your credit profile, income, and whether you use a cosigner.

1. SoFi

Best for: Career-focused borrowers who want extras beyond a loan

SoFi offers a dedicated Law School Loan with some of the strongest borrower perks in the market.

Fixed APR: 3.23% to 15.99%
Fees: None. No origination fee, no application fee, no late fee.
Cosigner release: Available after 24 months of on-time principal and interest payments
Grace period: 6 months after graduation or leaving school
Loan amounts: Up to 100% of school-certified cost of attendance

What stands out: SoFi includes career coaching, resume review, and networking events for all borrowers. If you lose your job after graduation, SoFi offers unemployment protection that lets you pause payments and get help finding a new position. The zero-fee structure means every dollar you borrow goes toward your education.

What to watch: The 24-month cosigner release is longer than some competitors. The minimum credit requirements can be strict for borrowers without a cosigner.

Learn more in our full SoFi student loan review

2. Sallie Mae

Best for: Borrowers who want the lowest starting rates and fast cosigner release

Sallie Mae offers a specific Law School Loan product with competitive rates and a short path to cosigner release.

Fixed APR: 2.89% to 14.99% (graduate rates)
Fees: None disclosed
Cosigner release: Available after 12 months of on-time payments
Grace period: 6 months after graduation
Loan amounts: Up to 100% of school-certified cost of attendance

What stands out: Sallie Mae's floor rate of 2.89% is among the lowest available for graduate borrowers. The 12-month cosigner release is one of the fastest in the industry, which can be a big selling point if your cosigner wants off the hook quickly.

What to watch: Sallie Mae's upper rate range is competitive, but always compare your actual offered rate, not just the advertised floor. Check the fine print on any fees that may apply to your specific loan terms.

Learn more in our full Sallie Mae student loan review

3. Earnest

Best for: Borrowers who want flexible payments and a long grace period

Earnest focuses on flexibility, giving borrowers more control over their payment structure than most lenders.

Fixed APR: 2.89% to 16.49%
Fees: None. No origination fee, no application fee.
Cosigner release: Not available
Grace period: 9 months after graduation or leaving school
Loan amounts: Up to 100% of school-certified cost of attendance

What stands out: Earnest lets you skip one payment every 12 months (after making at least 6 consecutive payments). The 9-month grace period is among the longest available, giving you extra breathing room to take the bar and start your career. You can also choose your exact monthly payment amount within a range, which lets you fine-tune your budget.

What to watch: Earnest does not offer cosigner release. If you borrow with a cosigner, they stay on the loan for life unless you refinance. This is a dealbreaker for some families.

Learn more in our full Earnest student loan review

4. College Ave

Best for: Borrowers who want multi-year approval and a law-specific grace period

College Ave is designed with graduate and professional students in mind, offering features that match the law school timeline.

Fixed APR: 3.23% to 15.99%
Fees: Some loans may carry an origination fee depending on terms
Cosigner release: Terms vary by loan product
Grace period: 9 months for law school borrowers
Loan amounts: Up to 100% of school-certified cost of attendance
Multi-year approval: Available, so you can secure funding for all three years with one application

What stands out: The multi-year approval feature is a major convenience. You apply once and get approved for borrowing across your entire law school career. The 9-month grace period matches the bar-exam timeline, and coverage goes up to 100% of COA, which is important when federal loans fall short.

What to watch: Check whether your specific loan terms include an origination fee. College Ave's fee structure can vary depending on the repayment plan and term you select.

Learn more in our full College Ave student loan review

5. Ascent

Best for: Borrowers without a cosigner

Ascent stands out for its Outcomes-Based Loan, which does not require a cosigner or a long credit history. Instead, it considers your school, major, and expected earnings.

Fixed APR: 3.23% to 15.99%
Fees: None. No origination fee, no application fee.
Cosigner release: Available after 12 months of on-time payments (on cosigned loans)
Grace period: 6 months after graduation
Loan amounts: Up to 100% of school-certified cost of attendance

What stands out: The Outcomes-Based Loan is a game-changer for law students who do not have a cosigner. Most private lenders require either strong credit or a creditworthy cosigner. Ascent evaluates your future earning potential based on your school and program, making it accessible to students who might be turned away elsewhere. The 12-month cosigner release on cosigned loans is also competitive.

What to watch: The Outcomes-Based Loan may come with a higher rate than Ascent's credit-based option. Not all law schools are eligible. Check the Ascent website to confirm your school qualifies before applying.

Learn more in our full Ascent student loan review

6. Citizens Bank

Best for: Borrowers who want the deepest rate discounts and multi-year approval

Citizens Bank rewards loyal customers and offers one of the largest combined interest rate discounts in the market.

Fixed APR: 4.24% to 15.60%
Fees: None disclosed
Cosigner release: Terms vary
Grace period: 6 months after graduation
Loan amounts: Up to 100% of school-certified cost of attendance
Multi-year approval: Available

What stands out: Citizens Bank offers a 0.25% rate discount for autopay and an additional 0.25% discount for existing Citizens Bank customers, for a combined 0.50% discount. Over a $100,000+ law school balance, that discount adds up to meaningful savings. Multi-year approval means one application covers all three years.

What to watch: The floor rate of 4.24% is higher than some competitors. Citizens Bank's best rates may require an existing banking relationship. The lender's geographic footprint is more limited than national online lenders.

Learn more in our full Citizens Bank student loan review

How to Choose

Picking the right private student loan for law school depends on your specific situation. Here is a framework.

If you plan to work in BigLaw or a high-paying firm: Focus on the lowest interest rate. You will likely repay aggressively, so the total interest cost matters most. SoFi and Sallie Mae tend to offer the most competitive rates for strong borrowers.

If you plan to work in public interest or government: Max out federal loans first, since you may qualify for PSLF. For any remaining gap, look for lenders with flexible repayment options like Earnest's skip-a-payment feature.

If you do not have a cosigner: Ascent's Outcomes-Based Loan is your strongest option. It considers your school and program rather than requiring a cosigner or established credit.

If you want to lock in funding for all three years: College Ave and Citizens Bank both offer multi-year approval. This reduces the stress of reapplying each year and protects you from potential credit changes.

If your cosigner wants off the loan quickly: Sallie Mae and Ascent both offer 12-month cosigner release. SoFi requires 24 months.

General advice:

Apply to at least three lenders and compare the actual rates you are offered, not just the advertised ranges
Check whether your rate quote triggers a hard or soft credit pull
Calculate the total cost of the loan, including any fees, over the full repayment term
Read the fine print on deferment, forbearance, and hardship options
Ask whether the lender reports to all three credit bureaus, which helps build your credit profile

Law-Specific Repayment Programs

Law school borrowers have access to repayment assistance programs that most other graduate students do not. Understanding these programs can change how you approach borrowing.

Loan Repayment Assistance Programs (LRAPs)

Many law schools run their own LRAPs for graduates who work in lower-paying public interest or government positions. These programs typically provide grants or forgivable loans to help cover monthly student loan payments.

How LRAPs work:

You must work in a qualifying public interest, government, or nonprofit legal role
Your income must fall below a threshold set by your law school (often $60,000 to $80,000)
The school provides monthly or annual payments toward your student loans
Some LRAPs cover the full monthly payment; others cover a percentage
Most require you to stay in a qualifying role for a set number of years

Important: LRAP details vary widely by school. Check your law school's financial aid office for specific terms before you enroll.

Public Service Loan Forgiveness (PSLF)

PSLF forgives the remaining balance on federal Direct Loans after 120 qualifying monthly payments (10 years) while you work full-time for a qualifying employer.

Who qualifies:

Employees of federal, state, local, or tribal government agencies
Employees of 501(c)(3) nonprofit organizations
Public defenders, prosecutors, legal aid attorneys, and other government lawyers

Key requirements:

Only federal Direct Loans qualify (not private loans)
You must be on an income-driven repayment plan
You must make 120 qualifying payments (they do not have to be consecutive)
You must work full-time for a qualifying employer when you make each payment and when you apply for forgiveness

Strategy for law students: If you plan to pursue PSLF, borrow as much as possible through federal loans and as little as possible through private loans. Private loan balances cannot be forgiven through PSLF.

State Loan Repayment Assistance

Several states offer their own loan repayment assistance programs for attorneys who work in underserved areas or specific public roles. Examples include programs in New York, California, Texas, and many other states. Search "[your state] attorney loan repayment assistance" to find options.

FAQs

Can I use private student loans for law school living expenses?

Yes. Most private lenders allow you to borrow up to 100% of your school-certified cost of attendance, which includes tuition, fees, books, housing, food, transportation, and personal expenses. The amount you can borrow for living expenses depends on what your law school certifies as the total COA.

What credit score do I need for a private law school loan?

Most private lenders look for a credit score of 670 or higher for the best rates. Some lenders, like Ascent with its Outcomes-Based Loan, consider factors beyond credit score. If your credit is below 670, applying with a creditworthy cosigner can help you qualify and potentially get a lower rate.

Should I borrow federal or private loans first?

Always borrow federal loans first. Federal Direct Unsubsidized Loans offer income-driven repayment, PSLF eligibility, deferment, and forbearance protections that private loans do not. After you reach the $20,500 annual federal limit, then turn to private loans for the remaining balance.

How much can I borrow in private student loans for law school?

Most private lenders let you borrow up to 100% of the cost of attendance minus any other financial aid you receive. There is no set federal cap on private borrowing, but lenders set their own limits based on your creditworthiness, income, and the school's certified COA.

Can I refinance my law school loans after graduation?

Yes. Refinancing combines multiple loans into one new private loan, often at a lower rate. Many of the lenders on this list, including SoFi and Earnest, also offer refinancing products. Keep in mind that refinancing federal loans into a private loan means you lose access to IDR plans and PSLF.

What happens to my law school loans if I do not pass the bar?

Your loan payments still come due whether you pass the bar or not. Federal loans offer deferment and forbearance options. Some private lenders offer hardship programs, but they vary. This is one reason to choose a lender with a longer grace period, like Earnest or College Ave at 9 months, so you have time for a second attempt before payments begin.

Is the Grad PLUS elimination final?

Yes. The One Big Beautiful Bill Act (OBBBA), signed into law, eliminates Grad PLUS loans for new borrowers starting July 1, 2026. Current Grad PLUS borrowers are not affected. New graduate borrowers after that date are limited to $20,500 per year in federal Direct Unsubsidized Loans.

Can I deduct student loan interest on my taxes?

Yes. You can deduct up to $2,500 in student loan interest per year on your federal tax return, regardless of whether the loans are federal or private. The deduction phases out at higher income levels. This applies to interest paid on qualified education loans during the tax year.

Bottom Line

Law school is expensive, and the elimination of Grad PLUS loans makes private borrowing more important than ever for students starting after July 1, 2026. The right approach is straightforward: borrow the full $20,500 in federal Direct Unsubsidized Loans each year, then fill the gap with the best private loan you can find.

Among private lenders, SoFi stands out for its zero-fee structure and career support. Sallie Mae offers the lowest starting rates and fastest cosigner release. Earnest gives you the most payment flexibility. College Ave and Citizens Bank provide multi-year approval for peace of mind. And Ascent opens the door for borrowers who do not have a cosigner.

Apply to at least three lenders, compare the rates you are actually offered, and choose the loan that fits your career plan and financial situation. If you expect to work in public interest law, lean heavily on federal loans and explore your school's LRAP. If you are heading to BigLaw, prioritize the lowest rate to minimize total interest cost.

Your law degree is an investment. Make sure you finance it wisely.

The CollegeLens Team. Updated April 2026. Rates and terms are subject to change. Check each lender's website for the most current information.

Best Private Student Loans for Law School in 2026: Quick Summary

Law school is extremely expensive, and starting July 1, 2026, the Grad PLUS Loan disappears for new borrowers under the One Borrower, One Balance, One Act (OBBBA). That means:

You can still get $20,500/year in federal Direct Unsubsidized Loans
There’s a $138,500 lifetime cap on federal graduate borrowing
Most law students will need private loans to cover the gap between federal aid and the full cost of attendance (COA)

Why Federal Loans Still Come First

Even without Grad PLUS, you should always max out federal Direct Unsubsidized Loans first because they offer:

Income-driven repayment (IDR) plans
Deferment and forbearance options
Eligibility for Public Service Loan Forgiveness (PSLF)

Best Student Loans for Law School in 2026