1. Bar Preparation and Bar Study Loans

2. Exam + Character and Fitness = License Deadlines – IN Feb: Nov 15 July: April 1 – IL: Feb: Sept 1 July: Feb 15 Cost – IN: $250 – IL: $400 if student registration $850 if no law student registration Pay attention to the following issues: – References – Fingerprints – Driving record – Previous employers – Academic issues – Criminal issues – Mental health and substance abuse – Financial issues Bar Application Basics

3. No Federal Loan Availability Costs may vary based on which Bar Preparation Course taken. Private loans can be used to cover cost of prep course and living costs

4. Current Lenders Discover (rolling out new product in Spring) Sallie Mae Fifth Third Bank Wells Fargo (must have an account with the company) PNC Bank

5. Applying for the bar exam and related costs Bar review courses – Payment dates Hotel room Living expenses during bar prep period and after – Bar results released in: April and October Time off work (if applicable) Financial Considerations

6. Things You Should Know Before you Borrow Loan Limits (normally $15,000) Interest rates (variable) Repayment terms Time it takes to receive the loan Suggestions: -Limit amount borrowed/incremental loan

7. Some Fundamental Differences About Loans Federal Loans can be consolidated, these include: Grad Plus, Unsubsidized, Subsidized and Perkins Loans Private loans cannot be consolidated with federal loans. Also most private loan companies do not consolidate other private loans with their own. Your federal loan information can be found at: www.nslds.ed.gov. www.nslds.ed.gov Private loan information does not have a specific website location. Contacting your lender will be important.

8. Private loans, like some federal loans begin accruing interest once they are disbursed. Loan payments on most private loans begins 9 months after graduation. Interest rates on private loans are variable and may change during repayment. Some lenders may sell your loans, check to ensure you know where the loan is being serviced. Stay in contact with your lender should unforeseen circumstances arise and you are unable to pay. Payment options will vary based on your lender. I have my money. Now What?

9. Important Things to Think About Please notify the Financial Aid Office when you apply for a Bar Study Loan. We are still required to certify the loans and do not get notices when you apply There is no penalty for paying off your loans early Try to add extra to your loan payment when possible and ask that the additional portion be put toward the principal on the loan Income Based Repayment options are not available for private loans Ask your lender about deferment and forbearance options should you face a challenge paying on the loan (use these options wisely) If you are having problems or are concerned about your loan payments CONTACT the lender. DO NOT WAIT! Defaulted loans will have an impact on your credit

10. Upcoming Bar Presentations Bar Application and Bar Prep Basics Contact Bethany Lesniewski for more details

11. Valparaiso Bar Prep Resources: Have questions or seeking advice: See Bethany Lesniewski, Director of Academic Success – Office in Library- Room 268 Advanced Legal Studies- Law 655 – We use bar prep materials to practice MC, Essay, and MPT questions. – Not a substitute for a bar review course. You also have access to bar prep programming following graduation

12. Questions or concerns regarding loans: Contact Ann Weitgenant at 219-465-7818 or Ann.Weitgenant@valpo.eduAnn.Weitgenant@valpo.edu Questions about Bar Preparation contact: Bethany.Lesniewski@valpo.edu Director of Academic Success