Various agencies offer private student loan programs to law students. These programs are often offered by commercial banks and other lenders and are not funded by state or federal financial aid funds. The terms of lending, maximum loan amounts, schedules for repayment, interest rates, fees and qualifications are determined by each organization. Borrowers are strongly encouraged to consider the federal student loans and compare interest rates, fees, and repayment options such as deferment and forbearance of all loans.