Justice isn't cheap: Tuition, fees and living expenses at a traditional three-year U.S. law school topped $200,000 in 2024, according to data from the Education Data Initiative (EDI). Savings, scholarships and federal student loans can only get you so far, especially after the One Big Beautiful Bill capped federal aid for law school students at $50,000, with an aggregate limit of $200,000.
The measure also drew a $257,500 ceiling on all federal student loans, excluding borrowed Parent PLUS loans. As a result, more people are looking to private lenders to help finance law school.
CNBC Select has rounded up the best lenders for law school loans, based on rates, amounts, repayment terms and more. (See our methodology for more on how we made this list.)
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Best for longer terms: College Ave
- High loan amount
- Flexible repayment terms
- Hardship protections like deferment and forbearance
- No co-signer required for U.S. students
- Offers repayment terms of up to 20 years for graduate student loans (otherwise, up to 15 years for undergraduate loans)
- Co-signer can't be released until half of the repayment term has passed
College Ave's student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or BTG Pactual Bank, N.A., member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term
Who's this for? Need more time? College Ave has a half-dozen repayment terms for its law school loans, ranging from 5 to 20 years.
Standout benefits: Borrowers who make payments in school can choose from interest-only, interest-and-principal and flat $25 monthly installments.
Best for multi-year financing: Citizens
- No co-signer required
- International students can qualify with a U.S. co-signer
- 0.50% rate discount for autopay from a Citizens account
- Offers student loan refinancing
- Multi-year approval lets you apply once and then just have a soft credit inquiry when they need funds in the following semesters
- Co-signers can't be released until after 36 payments.
- Banking services not available in every state
Who's this for? If you don't want to have to reapply every year, Citizens' multi-year approval program helps streamline the process with just one hard inquiry. According to the bank, borrowers with multi-year approval have a 99% success rate with later requests for funds.
Standout benefits: Citizen customers can get a rate discount of up to 0.50% with autopay. Rate quotes are available online in just two minutes with no hit to your credit score. Thousands are given away monthly in the Citizens Scholarship, with a grand prize of $15,000.
Best for affordable rates: Ascent
- Considers borrowers with no credit
- High loan limit
- Co-signer release available after just 12 payments
- Up to 1% interest rate discount for autopay*
- 1% cash back rewards*
- Considers alternative requirements like the borrower’s school, program, graduation date, major, GPA, cost of attendance and Satisfactory Academic Progress (SAP) to grant approval
- Maximum fixed APR is on the high side
- Doesn't offer student loan refinancing
Disclosure: *Ascent Funding, LLC products are made available through Bank of Lake Mills or DR Bank, each Member FDIC. Subject to credit approval. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent's Terms and Conditions please visit AscentFunding.com/Ts&Cs. Annual Percentage Rates (APRs) displayed above are effective as of 3/1/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower's credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation.1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. Ascent applicants and borrowers that agree to the AscentUP Terms of Service and Privacy Policy, as well as students associated with an Ascent parent loan application, have access to the AscentUP platform.
Who's this for? Ascent's average rates for law school loans are the lowest of any lender we reviewed, making them a no-brainer for affordability.
Standout benefits: The San Diego fintech company has both co-signer and non-cosigner loans. Applicants can get pre-approval and a rate quote without a hard credit inquiry. There's also 1% cash back on principal loan amounts at graduation and a generous nine-month grace period before payments start coming due.
Best for lengthy grace period: Earnest
- Nine-month grace period available
- No co-signer required but offers the option to apply with a co-signer
- 0.25% interest rate discount for autopay
- Qualified borrowers can skip one payment every 12 months
- Offers student loan refinancing
- Offers loans for half-time students while still providing benefits received by full-time students (like the skip payment, autopay discount and more)
- No co-signer release option available
- Variable rates not available in all states
Actual rate will vary based on your financial profile. Fixed annual percentage rates (APR) range from 4.60% APR to 10.24% APR (4.35% - 9.99% with .25% auto pay discount). Variable annual percentage rates (APR) range from 6.13% APR to 10.24% APR (5.88% - 9.99% with .25% auto pay discount). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once a month, but there is no limit on the amount that the rate could increase at one time. Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX. Our lowest rates are only available for our most credit qualified borrowers and require selection of our shortest term offered (5 years) and enrollment in our .25% auto pay discount from a checking or savings account. Enrolling in autopay is not required as a condition for approval.
Who's this for? Earnest extends borrowers a nine-month break after they graduate or leave the school before payments start coming due, compared to just six with most lenders. You can also skip one payment per year without being penalized.
Standout benefits: In addition to four repayment options and ultra-flexible terms, Earnest promises a rate match guarantee against any legitimate offer from a qualified lender. Borrowers can
How much do I need for law school?
The cost of a law school education varies greatly, depending on the institution and location and whether it's private or public.
The nationwide average is about $217,480 total for all three years. According to the EDI, in-state residents pay about $25,409 less a year or about $76,227 overall.
In 2025, federal law school loans were capped at $50,000 by the One Big Beautiful Act, with an aggregate limit of $200,000. There's also a $257,500 ceiling on all federal student loans except for borrowed Parent PLUS loans).
- In 2024, the average cost of law school in the U.S., including tuition and living expenses, was about $217,480 for all three years.
- Based on tuition alone, the most expensive law school in the U.S is New York City's Columbia University at $81,292 a year.
- The least expensive law school based on tuition is the University of Puerto Rico, which runs about $9,750 annually.
- With living expenses, the most expensive law school is San Francisco's Stanford University at $47,832 a year.
- The least expensive based on cost of living is Oklahoma City University, at $12,600 a year.
FAQs
What is the best loan for law school?
When considering loans for law school, it's typically a good idea to first look into federal direct unsubsidized loans. These loans typically carry low, fixed interest rates but borrowers can also take advantage of federal benefits like income-driven repayment (IDR) plans and loan forgiveness programs.
Can you get student loans for law school?
There are a variety of lenders that cater to students entering law school. Keep in mind that you will be responsible for paying back the interest and principal along with any applicable fees.
Is it worth it to take out loans for law school?
Before applying for any new line of credit, potential borrowers should consider their personal situation, ability to repay the loan and future earning potential. Students should also try to exhaust any "free" money options that don't need to be paid back before applying for funding that does need to be paid back.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of student loan products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best graduate school student loans.
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Our methodology
To determine the best law school student loans, CNBC Select analyzed and compared private student loan funding from national banks, credit unions and online lenders. We narrowed down our ranking by only considering those that offer competitive student loan rates.
While the companies we chose in this article consistently rank as having some of the market's lower interest rates, we also compared each company on the following features:
- Broad availability: All of the companies on our list offer undergraduate and graduate private student loans, and they all offer variable and fixed interest rates to choose from
- Flexible loan terms: Each company provides a variety of financing options that borrowers can customize based on their monthly budget and how long they need to pay back their student loan. Each company also allows borrowers to start repaying their student loans while still in school, ultimately saving them money
- No early payoff penalties: The companies on our list do not charge borrowers prepayment penalties for paying off loans early
- Streamlined application process: We made sure companies offered a fast online application process
- Autopay discounts: All of the companies listed offer an autopay interest rate discount
- Private student loan protections: Each company on our list offers some type of financial hardship protection for borrowers
- Loan sizes: The above companies offer private student loans in an array of sizes, all the way up to the cost of college attendance. Each company advertises its respective loan sizes, and completing a preapproval process can give borrowers an idea of what their interest rate and monthly payment would be
- Credit requirements/eligibility: We took into consideration the minimum credit scores and income levels required if this information was available
- Customer support: Every company on our list provides customer service available via telephone, email or secure online messaging. We also opted for lenders with an online resource hub or advice center to help borrowers educate themselves about student loans in general
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