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The chart also compares variable and fixed interest rate ranges, including LIBOR-based formulas and discount scenarios, and provides a typical repayment example for at least one 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Exam Loan | Sallie Mae Bar Study Loan | Wells Fargo Bar Exam Loan |\n| Borrowing Maximum | $16,000 | $15,000 | $12,000 |\n| Cumulative Debt Limit | $180,000 (including bar loan) | No limit | $180,000 (including bar loan) |\n| Origination Fee | 0% | 0% | 0% |\n| Grace Period | 9 month from graduation date | 9 month from graduation date | 6 month from graduation date |\n| Interest Rate | Variable Interest Rate as\u003Cbr>6.39% APR to 11.99% APR\u003Cbr>(3-month LIBOR + 3.52% to 3-month LIBOR + 9.12%) depends of credit rating\u003Cbr>(Actual 3-month LIBOR rate)\u003Cbr>Fixed Interest Rates as\u003Cbr>7.39% APR to 12.99% APR\u003Cbr>depends of credit rating | Variable Interest Rate as\u003Cbr>5.36% APR to 12.06% APR\u003Cbr>(1-month LIBOR + 3.00% to 1-month LIBOR + 9.75%)\u003Cbr>depends of credit rating\u003Cbr>(Actual 1-month LIBOR rate) | Variable Interest Rates as\u003Cbr>12.01% APR (with discount) to 12.23% APR (without discount)\u003Cbr>Fixed Interest Rates as\u003Cbr>10.45% APR (with discount) to 12.68% APR (without discount) |\n| Length of Repayment | 20 years | 15 years | 7 years |\n| Repayment Incentives | 0.25% interest rate reduction when enrolled in automatic monthly payments during repayment | 0.25% interest rate reduction when enrolled in automatic monthly payments during repayment | 0.25% interest rate reduction for previous Wells Fargo student loan or other qualifying account\u003Cbr>0.25% interest rate reduction when enrolled in automatic monthly payments during repayment |\n| Typical Repayment Example |  | Based on a $15,000 loan, with one disbursement, and 9.96% variable APR. It works out to 179 payments of $173.91 and one final payment of $83.34, for a Total Loan Cost of $31,213.23 |  |\n| Eligibility | Enrolled in final year of law program and paid the institutional graduation fee, or have graduated within 6 months\u003Cbr>US citizen or US permanent resident with a valid Social Security number and US address | Enrolled in final year of law program and paid the institutional graduation fee, or have graduated within 12 months\u003Cbr>Sitting for the bar no later than 12 months after graduation\u003Cbr>US citizen, US national or permanent resident alien without conditions and with proper evidence of eligibility. An International student must borrow with a credit worthy cosigner who is US citizen or noncitizen permanent | Sitting for the bar no later than 12 months after graduation\u003Cbr>Enrolled in final year of law program or have graduated within 30 days, and paid the graduation fee\u003Cbr>US citizen, US national or permanent resident alien without conditions and with proper evidence of eligibility |\n\n[https://www.discover.com/student-loans/bar-exam-loans.html](https://www.discover.com/student-loans/bar-exam-loans.html)[ ](https://www.discover.com/student-loans/bar-exam-loans.html)[https://www.salliemae.com/student-loans/bar-study-loan/](https://www.salliemae.com/student-loans/bar-study-loan/)[ ](https://www.salliemae.com/student-loans/bar-study-loan/)[https://www.wellsfargo.com/student/graduate-loans/bar-exam/](https://www.wellsfargo.com/student/graduate-loans/bar-exam/)","cbCainashSuA4CEr","https://ap.wps.com/l/cbCainashSuA4CEr","pdf",197763,"English","# Loan Terms Compared\n## Borrowing, Limits, and Fees\n## Grace Periods and Interest Rates\n## Repayment, Incentives, and Eligibility","[{\"question\":\"What are the borrowing maximums and repayment lengths for the three lenders?\",\"answer\":\"Discover allows up to $16,000 with a 20-year repayment term, Sallie Mae allows up to $15,000 with a 15-year term, and Wells Fargo allows up to $12,000 with a 7-year term.\"},{\"question\":\"How do grace periods differ between the lenders?\",\"answer\":\"Discover and Sallie Mae provide a 9-month grace period from the graduation date, while Wells Fargo provides a 6-month grace period from the graduation date.\"},{\"question\":\"What eligibility requirements does the chart specify?\",\"answer\":\"The chart requires enrollment in the final year of a law program and payment of an institutional graduation fee, or graduation within a defined timeframe, plus U.S. citizenship/permanent residency or other specified evidence and, for international borrowers, a creditworthy cosigner.\"}]","BAR LOAN COMPARISON CHART (2019-2020 AY) - Loan comparison across Discover, Sallie Mae, and Wells Fargo | PDF",1789961092]