10 Best Law School Student Loans

Earnest is a fintech lender founded in 2013 and a leader in student loan refinancing. They added private student loans to their list of products in 2019 and are known for their transparency when it comes to loan requirements – making it easy for students to see what they qualify for.

Earnest offers repayment periods of up to 15 years with the option of full deferment, fixed repayments, and interest-only payments. Loan rates start at 4.45% and you can borrow up to 100% of your school-certified cost of attendance.

There is also a nine-month grace period, but there is no cosigner release.

College Ave was founded in 2014 and is known for its straightforward and personalized approach, making it a very attractive lender. They offer tailored private student loans, including for law students, and refinancing to undergraduate and graduate students and parents.

College Ave has low rates starting at 4.44% and covers up to 100% of your school-certified cost of attendance. Loan repayment terms are available for up to 15 years and options include full deferment, $25 monthly, and interest-only payments.

They allow for a cosigner release after 24 full and consecutive payments.

Citizens Bank is one of the largest banks in the U.S. and was founded in 1828. The bank offers private student loans and refinancing, as well as personal and business financing products. Citizens Bank offers multi-year approvals, enabling students to fund their four-year stay in college with only one application.

Undergraduate loans start at 4.43% APR with repayment periods of up to 15 years. Getting a quote takes a few minutes and doesn’t require a hard credit check.

Private student loans from Citizens Bank are available from $1,000 up to the total cost of education. Cosigners are optional and there are no origination fees, no application fees, and no penalty fees for early repayment.

Founded in 1972, Sallie Mae is one of the best-known private student lenders in the US. The company offers student loans for undergraduates, graduates, parents, and career training, among others.

They cover up to 100% of your school-certified cost of attendance. Loans can also be used for off-campus housing, computers, software, sheets, towels, books, supplies, transportation, and equipment you need for classes.

Sallie Mae offers the quickest opportunity for cosigners to be released, along with a multiyear advantage that gives current borrowers with cosigners high approval odds.

Loan rates start at 4.50% and they offer repayment terms of up to 20 years with a 0.25% discount for automatic payments. Sallie Mae also has multiple deferment options available, including full deferment, $25 monthly, or interest-only payments.

There is a six-month grace period and cosigner release is available after 12 payments.

Founded in 2015, Ascent is an online lender that offers private student loans to undergraduate and graduate students. They offer loans to those who don’t meet the eligibility requirements of most lenders

Ascent’s student loans don’t require a cosigner and applicants don’t have to be U.S. citizens, making this an excellent option for international students. They offer loan repayment periods of up to 20 years with a 1% cash-back graduation reward when borrowers meet certain criteria.

Loan rates start from 4.62% with a 0.25% discount for AutoPay. You have various repayment options including interest-only payments, $25 minimum payments, and full deferment.

Founded in 2000, Discover Bank is an online bank owned by Discover Financial Services. With a history of almost 40 years, they offer a range of financial products, including private student loans to international students.

With Discover, international and DACA students can qualify with a U.S. citizen or permanent resident as cosigner. You can borrow up to 100% of the school-certified cost of attendance, which can include books, tuition, housing, and more.

One benefit that stands out is that borrowers with a 3.0 GPA or higher can receive 1% of their loan amount as a cash reward.

There are no late fees and fixed rates start at 4.49% APR. Loan repayment periods are available up to 20 years and there are multiple repayment periods available.

SoFi is a personal finance company and bank founded in 2011. As a leader in student financing, the company offers private student loans and refinancing, as well as other financial products like personal loans and credit cards.

SoFi was the first lender to refinance private and federal student loans together. They also offer free career coaching and getting a rate estimate won’t affect your credit.

Student loans from SoFi come with rates starting at 4.99% and repayment terms of up to 20 years. Repayment options include interest-only, flat-fee, and deferred. There are no late fees, prepayment penalties, or application fees.

Cosigner releases are available after 24 on-time, full monthly payments.

MPOWER Financing, established in 2014 and headquartered in Washington, provides private student loans to both local and international students. These loans are especially attractive to students since they don’t necessitate a cosigner or a strong credit record.

Another benefit of MPOWER is that borrowers can get a 1.5% interest rate reduction with six automatic on-time payments, proof of graduation, and proof of employment.

MPOWER loans come with fixed APRs starting at 14.75% and loan terms go up to 10 years. The maximum loan amount is $100,000 and there is a 5% origination fee.

Massachusetts Educational Financing Authority (MEFA) has been providing student loans for over 40 years. MEFA provides private student loans and refinancing loans, with fixed interest rates and an instant decision on applications.

Interest rates for MEFA student loans start at 5.35% APR with repayment periods of up to 15 years. There are no application or origination fees, no prepayment penalties, and multiple repayment options.

The minimum loan amount is $1,500, which is ideal for borrowers who only need a small amount of money to complete their education.

Cosigner release is available after 48 consecutive, on-time payments.

Established in 1935, PenFed (Pentagon Federal Credit Union) offers student loan refinancing to its members. It’s the second-largest credit union in the country and has 2.9 million members. Although you have to be a member of PenFed to qualify, anyone is eligible for membership. They have a quick application process and their rates start at 7.74% fixed APR.

PenFed offers repayment periods of up to 15 years with loan amounts up to $300,000. Married couples can refinance together, and borrowers can refinance their parents’ PLUS loans. There are no prepayment penalties and an online application takes less than 15 minutes.