Defer Your Law School Loans Until After the Bar Exam

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Federal student loans include a six month deferment period. However, if you ever consolidated your law school loans, you probably waived your six month deferment period. This means your consolidated loan will become due immediately upon graduation and you must start making payments at that time. Most law students are studying for the bar exam during this time, so they don’t have money to make student loan payments.

The good news is, many student loan companies will still defer your law school loan for six months if you call and request it (they will probably provide a form that you must complete). If you do not qualify for a deferment, the loan company may give you a forbearance (deferment and forbearance defined).

If you graduated in the spring, you should call to request loan deferment now to allow enough time to process the deferment before your loan becomes due.

Student Loan Consolidation 

You may also want to consider consolidating your student loans. By consolidating your student loans, you can reduce the inconvenience of paying multiple bills for each loan. You may also benefit from locking in your student loan interest rates.

Finally, some student loan consolidation companies offer discounts for timely payments and discounts for automated withdrawal from your bank account. Although the rates for federal student loans are the same between student loan consolidation lenders, these discounts can reduce the amount you must pay over time, saving you money.

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3 Responses to “Defer Your Law School Loans Until After the Bar Exam”

  1. Cristina Says:

    Great tip! I didn’t even think about deferring for the bar exam. I’ll definitely keep that in mind when my time comes.

    I’ve found that student loan companies are usually willing to work with you and help you as much as they can with deferrals and forbearances. All you have to do is ask. Nicely…

  2. Daniel Says:

    Due to a recent law change, you must end your grace period by October 1 to get the loan benefits (interest reduction program benefits) on top of the consolidation interest rate. See

  3. Larry Says:

    Thanks for the information. I have always been curious about consolidation and exactly what the benefits/drawbacks were.

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