Best Law School Loans Of April 2022 – Forbes Advisor - Forbes

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Law school can lead to a highly lucrative career, but you should still use caution when borrowing for your education. It’s common to use student loans to help pay for school, and the average graduate left law school with a combined debt of $130,000 in undergrad and law school loans.

For many students, it makes sense to consider federal student loans first to cover these costs. Federal debt comes with lower interest rates than many borrowers are apt to find in the private loan market. Federal student loans also come with more flexible repayment options, including income-driven repayment (IDR) plans and potential forgiveness options. These may be particularly useful for borrowers who intend to enter legal jobs in the public sector.

However, well-qualified borrowers with excellent credit and a reliable income may find better rates and lower fees with private student loans. These loans can also be a helpful way to cover any funding gaps you have for your education. See which law school loans could work for your situation, and how to choose the right one.

source: https://www.forbes.com/advisor/student-loans/best-law-school-loans/

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