BarBri Loan

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
User avatar
Posts: 1341
Joined: Thu Apr 21, 2011 12:48 am

BarBri Loan

Postby tedler » Wed Apr 17, 2013 5:21 pm

Last edited by tedler on Tue Jan 19, 2016 4:52 pm, edited 1 time in total.

Posts: 3
Joined: Fri Apr 19, 2013 3:16 pm

Re: BarBri Loan

Postby achambers528 » Fri Apr 19, 2013 3:29 pm

BARBRI partnered with GL Advisor to offer a loan to cover the cost of BARBRI and your living expenses while studying for the bar, up to $15,000. The interest rate varies depending upon your credit, but the great thing about this loan is it could be interest free! There is no penalty for pre-payment and payments aren't due until December - so if you pay back the whole amount by December, it will be interest free! You can go to --LinkRemoved-- for more information.

I'm the BARBRI attorney for Oklahoma and Arkansas and recently graduated from law school. I hope this helps!

User avatar
Themis Bar Review
Posts: 22
Joined: Fri Apr 19, 2013 4:13 pm

Re: BarBri Loan

Postby Themis Bar Review » Fri Apr 19, 2013 4:26 pm

We received several questions from students on our phone and chat lines and called GL Advisor to inquire to the rates and specifics. Here is what we found:

1. GL Advisor's maximum borrowing amount is $15,000, which is normal for lenders listed on the online comparison charts.*

2. GL Advisor sets no total debt limit, which is normal.*

3. GL Advisor charges no origination fee, which is normal.

4. GL Advisor's grace period is from the date of origination until December 2013, while other lenders offer fixed grace periods of 6-9 months from the date of origination.

5. GL Advisor's interest rate is higher than that of the other lenders on the comparison charts. Its interest rate is set at the sum of 7-14% (fixed, depending upon the applicant's creditworthiness) plus the LIBOR rate (variable). This is about twice as high as the ranges offered by Citibank, PNC, or Wells Fargo (See e.g. ... ns-pdf.pdf).

6. GL Advisor's repayment period is 80% shorter than those offered by any other lender on the comparison charts: 3 years instead of 15 years.

7. If you do not have a job offer when you apply for the loan, but then you opt for automatic debit repayments and you certify that you've passed the bar exam and you certify that you're employed, you may request a discount of 3-4% off your interest rate. They call this the "interest rate reduction for passing the bar exam." Other lenders offer reductions of .25-.5% merely for automatic debiting.*

8. GL Advisor's eligibility requirements are normal.

*Wells Fargo's maximum loan amount is $12,000 and borrowers' cumulative debt limit is $180,000. It gives an interest rate discount of up to 1.25% to Wells Fargo account holders participating in some "student graduation" program.

You may also find the following helpful:

**Self-promotion alert!**
Themis is not only affordable at $1495, we also work with students to establish payment plans.

User avatar
Posts: 6665
Joined: Mon Jun 15, 2009 1:26 pm

Re: BarBri Loan

Postby IAFG » Fri Apr 19, 2013 4:38 pm

Not-BarBri seems smart in this situation.

Return to “Financial Aid”

Who is online

Users browsing this forum: MSNbot Media and 2 guests