Yale is exploring multiple payment and financing options comparable to or better than the Grad PLUS Loan. The first such offering is available through SoFi. Eligible YLS students may apply for loans with SoFi or other alternative lenders beginning with the 2026-2027 academic year.
In addition to the loan program offered through SoFi, YLS students are welcome to explore other alternative loan options in order to evaluate lenders and select one that suits their loan needs. A few helpful resources:
- ELMSelect provides a comparison of different lenders, based on those lenders used by our students over the past three years.
- AccessLex has information available about various private lenders for law students.
Many of these programs offer competitive interest rates and program-specific repayment benefits and meet Yale’s standard for accessibility with expanded eligibility criteria that make financing available to more students. When considering which loan program to choose, be sure to carefully compare all of the terms, including interest rates (fixed vs. variable), lender fees, grace periods, deferment and forbearance options, ease of access, and customer service.
Yale does not endorse, recommend, or promote SoFi or any of the lenders included in ELM Select or listed by AccessLex. YLS students are not obligated to borrow from these lenders and may select other lenders.
Private Loan FAQs
How do I apply for a private student loan?
Students should first apply directly with the lender of their choice. For U.S Citizens and eligible non-citizens: you can review various lender options directly on ELMSelect. By no means are you required to apply for a loan on this list, it's merely offered as a starting-point.
Can the Financial Aid Office help me in choosing a private lender?
Our office is actually prohibited from recommending one private lender over another. The University has, however, compiled a 'Lender Comparison Chart' through ELMSelect, which details lenders that our students have anecdotally borrowed from. To access Yale Law School’s chart, enter "Yale University" in the school search engine, and then "Law" under 'Select Program'. Although this chart is meant to be a starting point for you in your private lender search, you can apply for any private educational loan of your choosing.
What type of repayment plans are offered for private loans?
Repayment plans for private loans can differ from lender to lender; we typically find that private lenders offer a repayment period ranging from 5-15 years.
Do private loans have origination fees associated with them?
Private loans may or may not have an origination fee. You should make sure that you check in with the lender regarding whether or not they have an origination fee.
How does my private lender communicate with the Financial Aid Office?
All educational loan certification requests are sent electronically to our office by your lender automatically once your application is completed. You will be asked to complete a Private Loan Request Form so our office can be sure to allocate your funds according to your wishes. Additional information will be available to students.