Information for 3L Students

Bar Loans

For a list of Mizzou approved private Bar Loan lenders visit the Mizzou Law Private Lender Page.

Before you apply for a Bar Loan, check your credit report for any discrepancies or errors. You may not know you have a problem until something bad happens, such as when your loan application is rejected. Visit for a free copy of your credit report.

3L students may apply for a Bar Study Loan to help you finance bar exam costs that are not covered by your federal student loans. Costs include; bar review course fees, bar exam deposits and fees, and living expenses. All bar loans are funded through a private lender and the interest rate is variable. You must have acceptable credit to qualify. Some lenders allow you to apply using a co-signer while other lenders use their discretion on whether to offer the co-signer option.

Lenders will ask the Financial Aid Office to certify your bar loan application before issuing funds. The Mizzou Law Financial Aid Office will begin certifying bar loan request on February 1. The process can take 15-20 days and funds are paid directly to you from your lender.

The Mizzou Financial Aid Office does not endorse any specific lender. There are many to choose from. Make sure you check the fine print and the lenders website. Finally, make sure you have taken all of your federal loans available before applying for a bar study loan.

Remember, bar study loans are private and cannot be consolidated with your federal loans.

Federal Student Loan Consolidation

Carefully consider whether loan consolidation is the best option for you. Loan consolidation can greatly simplify loan repayment by centralizing your loans to one bill and can lower monthly payments by giving you up to 30 years to repay your loans.

However, if you increase the length of your repayment period, you’ll also make more payments and pay more in interest. Compare your all repayment options before you consolidate your loans. Once your loans are combined into a Direct Consolidation Loan, they cannot be removed. The loans that were consolidated are paid off and no longer exist.

Take the time to study the pros and cons of consolidation before you submit your application. Review the Consolidation Checklist to see if consolidation is the best option for you.

For more information about Direct Loan Consolidation visit or call 800-557-7392.

Credit Reports

The information about you that’s contained in your credit file is a very vital part of your financial life. Creditors use this information when deciding to grant your request for credit. It is important to have a good credit standing and to always check to make sure the information in your credit file is up to date and accurate.

If credit is something new, you may wonder if you will ever be approved for a loan. Trust your values when it comes to debt. You don’t have to take on debt to build a sound credit history. Steps to building a good credit reputation include:

  1. Have a checking and savings account. Lenders like to see accounts that are managed properly.
  2. Have your cell phone or utilities billed in your name. This will reflect a good payment pattern lenders can use, plus it confirms to the lender that you are disciplined with money and you will do the same when you receive credit.
  3. Pay down your student loans. Regular monthly payments show you are responsible.

The Fair Credit Reporting Act guarantees you access to your credit report for free from each of the three national credit reporting companies — Equifax, Experian, and Transunion — every 12 months. is the ONLY authorized source for the FREE annual credit report that’s yours by law.

Credit Links:

Student Loan Repayment

Successful loan repayment requires preparation and consideration. It’s important to consider your budget, other debt you may have, and your financial goals. Write down your short and long-term financial goals. For example; you may have a short-term goal of saving for a down payment to purchase a home or you may have a long-term goal of saving for your children’s college education. Your goals will pay an important role when picking a repayment plan.

You may be asking yourself…

  • Who do you repay?
  • How much do I owe?
  • What will my payment be?
  • When does repayment begin?
  • What plans are available?

Get answers to these questions, and others by checking out the Federal Student Aid Website.

Want to meet one-on-one to discuss student loan repayment? The Financial Aid Office is here to help you plot a course for your student loan repayment strategy. One-on-One counseling sessions are available. Contact the Financial Aid Office to schedule your appointment.