Skip to main content

Bar Examination Scholarships & Loans

Bar Examination Scholarships

Each year various sections of the New Mexico State Bar Association provide scholarships to graduating third year law students to aid in their preparation for the bar exam. These scholarships are provided directly to the students and are meant to help defray the costs of taking and studying for the exam. For information on which sections of the State Bar and other Bar Associations offer these opportunities for UNM School of Law students as well as requirements, please visit the New Mexico Board of Bar Examiners Resources for Examinees website.

Indian Law Section of The New Mexico State Bar Scholarship

To support and promote the practice of Indian Law in New Mexico, the Indian Law Section of the State Bar of New Mexico annually awards scholarships to third-year University of New Mexico Law School students who intend to practice Indian Law, to help defray the costs of preparing for and taking the New Mexico bar examination. Students who will graduate in 2017 and take the bar examination within one year of graduation may apply. The 2017 Bar Scholarship will award $4,000 or more in scholarships, subject to change based on the number of applicants, student interest and Indian Law Section resources.

Deadline: March 31, 2017

To apply complete the application form and submit to:
State Bar of New Mexico
Attn: Indian Law Section Scholarship Committee P.O. Box 92860
Albuquerque New Mexico 87199-2860

M & A Gross Indian Self Determination Fund for Bar Preparation Assistance Scholarship

M & A Gross Indian Self Determination Fund for PLSI Graduates Scholarship was established by Michael “Mike” P. Gross, a Santa Fe Attorney and his wife Andrea Gross. This scholarship provides a $1,500 award to two 3L students in their final semester, who will be taking the New Mexico Bar Exam for the first time.

Applicants interested in being considered for this opportunity must submit a statement of interest, a current resume, and current transcript to financialaid@law.unm.edu.

A preference is given to applicants interested in pursuing practice in the area of Indian Law and students with financial need.

New Mexico Hispanic Bar Association (NMHBA) and the New Mexico Hispanic Bar Association Foundation (NMHBA Foundation) Bar Scholarship

The New Mexico Hispanic Bar Association (NMHBA) and the New Mexico Hispanic Bar Association Foundation (NMHBA Foundation) bar exam scholarship opportunity for third year law students is now available to third-year law students at the University of New Mexico. December graduates who are taking the exam in February 2017 are also eligible to apply.

Complete the application form which addresses the following criteria: (1) involvement in the Hispanic community, student organizations, other community organizations, civic, charitable, legal or social justice endeavors; (2) academic achievement; (3) financial need; (4) financial support you will receive while preparing for the bar exam; and (5) experience or interest in practicing in public interest law.

Submit an unofficial law school transcript and two letters of recommendation.

Deadline: March 31, 2017

Complete application packets must be submitted in PDF form by email to nmhbascholarships@gmail.com.

Please e-mail Denise Chanez at nmhbascholarships@gmail.com with any questions.

Bar Examination Loans

Some lenders offer bar exam loans which are designed to assist graduating law students in their efforts to finance bar exam-related expenses. While these loans are not part of your academic year financial aid, they still need to be certified by our financial aid office in order to verify that you are expected to graduate. The loan check will be mailed directly to you.

Carefully research interest rates, repayment terms, application deadlines, and fees in order to decide which loan works best for you.

The comparison chart below will help you focus on the important terms of any loan program you review regardless of which lender you choose and allow you to make an informed decision on which program you want to borrow through.

To apply and for more detailed and updated information regarding the bar loan programs from these lenders, please click on the links below:

Bar Loan Comparison Chart

 Discover Bar Exam Loan
800-788-3368
Sallie Mae Bar Study Loan
800-984-0190
Wells Fargo Bar Exam Loan
800-378-5526
Borrowing Maximum$16,000$15,000$12,000
Cumulative Debt Limit$225,000None$180,000 (including bar loan)
Origination Fee0%0%0%
Grace Period9 months after graduation9 months after graduation6 months after graduation
Interest Rate

Variable Rates: 5.12% APR - 9.87% APR (3-Month LIBOR + 3.74% to 3-Month LIBOR + 8.49%)

Fixed Rates: 6.99% APR - 11.49% APR

Variable interest rates range from 4.24% - 10.95% APR

Variable interest rates range from 9.76% APR (with discounts) to 9.99% APR (without discount).

Fixed interest rates range from 10.66% APR (with discounts) to 10.89% APR (without discount).

Length of Repayment20 years15 years7 years
Repayment Incentives0.25% interest rate reduction for automatic debit payments0.25% interest rate reduction when automatic payments are made

0.25% rate reduction for previous Wells Fargo student loan or other qualifying account

0.25% interest rate reduction for enrolling in automatic payments

Eligibility

Enrolled in final year of law program or have graduated within 6 months

U.S. citizen, U.S. permanent resident with a valid Social Security number and U.S. address

An international student borrowing with a credit worthy cosigner who is a U.S. citizen or non-citizen permanent.

Enrolled in final year of law program or have graduated within 12 months

Sitting for the bar no later than 12 months after graduation

U.S. citizen, U.S. national, or permanent resident alien without conditions and with proper evidence of eligibility

An international student borrowing with a credit worthy cosigner who is a U.S. citizen or non-citizen permanent.

Enrolled in final year of law program or have graduated within 30 days

Have an established, positive credit history

U.S. citizen, U.S. national, or permanent resident alien without conditions and with proper evidence of eligibility

 Need Academic Help?

Quick Links