Bar Study Loans

Bar study loans are post-enrollment educational loans specifically designed for law students. They assist with bar application costs and living expenses during the period the student is studying for the Bar. These loans are not need based and require credit worthiness.  Students are not eligible to apply until they are in their final year of study and lenders may require the Financial Aid Office to certify students' graduation date. STU's Office of Financial Aid can certify on ebar study loan per student. Students may borrow with the lender of their choice.

Bar study loans should be submitted directly to your lender. We certify loan applications after your lender has processed and approved your request. You may use our Bar Study Loans Comparison chart (click here) as an aid in selecting a lender for your Bar Study Loan.

Understanding Credit Scores

Fair Isaac Corporation, FICO, recently updated its credit-risk assessment model. According to Fair Isaac, the new model, FICO 08, will allow lenders to better predict which borrowers are likely to default on their obligations. FICO projects that the new model will improve the accuracy of lending decisions by 15%.

FICO 08 will:
  • Still range from 300 - 800 (the higher the score, the lower the assessed risk of default).
  • Increase credit scores for persons with accounts with good repayment histories.
  • Increase credit scores for person who have one major account in delinquency but otherwise have a number of major accounts with good repayment histories.
  • Reduce credit scores for persons with poor repayment histories, especially persons who are habitually delinquent.

The factors included in FICO 08 to determine creditworthiness are:
  • Payment History (35% of score)
  • Account Balances Relative to Available Credit (30% of score)
  • Length of Credit History (15% of credit score)
  • Recent Credit Applications (10% of credit score)
  • Types of Available Credit (10% of credit score)

Additional information is available here.