Why Get Stress About Paying For Your Bar Exams When You Can Get Bar Loans?
Going through law school is expensive. The tuition fees alone ranges from $8,000 to $40,000 annually. Additionally, a law student must incur extra bar exam charges to qualify as an advocate. This further increases the expenses of these students. Loans such as bar exam study loans and the loans for bar exam exist to cushion students from financial strains.
What Are the Available Bar Exam Loans?
Owing to the expensive and demanding nature of the bar exams, one needs proper financing to be able to sit for the bar exams comfortably. The money involved caters for exam fees among other requirements that are necessary for sitting for the bar. Basically, these loans will cushion your transition from a law student to a lawyer without having straining to make ends meet. Remember, studying for the bar is more than enough stress, you would not want to add finances to the list of things you have to worry about.
Loans available for such purposes include; the Sallie Mae bad credit loans, PNC consumer loans, Wells Fargo loans for the bar exam, Discover loans for bar exams among others. A majority of the bad loans bad credit loans available are private loans. Bar loans for bad credit are given to students who do not have property to present as collateral.
Best Firms to Provide Your Bar Study Loans
Of all the private loan providers offering loans bar study and bar prep loans, the ones you should strongly consider approaching for financing include; Sallie Mae, PNC solution loans, Discover loans and Wells Fargo since they offer bar exam loans bad credit.
- Sallie Mae
Sallie Mae is undoubtedly the largest private loan providers for students. Being a private loan provider, it offers legal loans with bad credit at interest rates slightly higher than the federal student loans. Their APR varies with the market changes, but generally, they range between four to eleven percent. This loan offers a flexible repayment plan for its borrowers. You can choose your installment plan. You also get a nine-month grace period before the installments are due. The loan lacks origination fees and penalties for loans paid and cleared before the agreed time. You can also get a reduction in the interest rates if you make the installment payments via standing orders.
For one to qualify for bar loans bad credit, one must;
- Be a law student halfway through the final year
- Have cleared law school at most twelve months before the application
- Be a USA citizen and resident
For full control of finances, the money is sent directly to the applicant. The applicant is also free to choose a cosigner. This decision may influence the interest rates being charged. A cosigner with a good credit score may reduce the interest rates being charged.
- PNC Loans
PNC bank offers PNC bank loans for bad credit to final year law students wishing to enroll and sit for the bar exams. The requirements are almost similar to that of Sallie Mae but with slightly different terms. For instance, applying for the PNC study loans allows the applicant to choose a fixed or flexible interest rate. The loan also allows the applicant to release the cosigner, the only difference is that it will take forty-eight consecutive installments as opposed to the twelve installments required by Sallie Mae. The PNC loans offer a larger interest rate reduction of 0.5 percent upon automated payments compared to the 0.25% offered by Sallie Mae.
Generally, the PNC clients enjoy lower interest rates and better interest rate flexibility than the rest. This fact has been responsible for the numerous positive PNC loans reviews.
- Discover Loans
Discover loans for bar exams are pretty much the same as the other two loans. They offer competitive interests for loans ranging from one thousand to sixteen thousand dollars. The qualifications are the same as the other two. The only major difference is in the flexibility of the payment methods where it allows you to choose either in-school or deferred payments. The Discover loans for bar exams also provide a longer repayment period of up to twenty years.
- Wells Fargo loans for the bar exam
Does Wells Fargo give personal loans with bad credit? Many people are always shocked about Wells Fargo giving out loans with bad credit.
Just like the other loans, the Wells Fargo loans for bar exam have no origination fees. Wells Fargo allows a grace period of six months before the installments are due. The applicant is entitled to an interest rate discount if he/she has ever gotten a loan from Wells Fargo or if he/she uses automated payment for the installments. The applicant is also allowed to choose between a fixed and variable interest rates
Comparison of loans
What Do You Consider When Applying for a Bar Prep Loans?
When met with a list of bar loans one can easily get confused about the firm to approach for financing. One must make a proper bar loans comparison before settling for a loan. When choosing a bar exam loans with bad credit, always look out for the interest rates, repayment options and flexibility and the issues surrounding getting a cosigner.
When considering interest rates offered, PNC loans for bar exams might be the one to go for. They have the most competitive rates in the market. When factoring in the issue of the cosigner, Sallie Mae has the most flexible program. It allows the release of a cosigner after twelve successful installments. The credit rating of the cosigner can also affect your credit ratings. The only disadvantage is that Sallie Mae rates are slightly on the higher side as compared to the rest.
Always looks for a financer that will allow you a flexible repayment plan that suits you.
Minimize the pressures of the bar exam by allowing financial firms to sort out your finances!