WEST CHESTER, PA — AccessLex Institute announced the launch of the AccessLex Private Loan Exchange, a resource intended to help law schools and students review private education loan options as changes to federal student loan policies affect graduate and professional borrowers.
The nonprofit said the online directory compiles information on private and state-based lenders offering loans to law students.
AccessLex said the resource was developed in response to feedback from financial aid administrators who requested clearer information to help students navigate private lending options.
Recent federal policy changes have placed new limits on the availability of federal loans for graduate and professional students, which could lead more law students to rely on private loans to finance their education.
The AccessLex Private Loan Exchange provides a directory of available loan products and is intended to help students compare options as part of the financial aid process.
Chris Chapman, president and chief executive officer of AccessLex Institute, said the organization created the resource to address uncertainty surrounding law school financing.
“Our role has always been to reduce friction and uncertainty around how students pay for law school,” Chapman said. “The AccessLex Private Loan Exchange reflects our commitment to providing objective, consistently sourced information that helps borrowers compare options.”
AccessLex said the exchange is designed as an informational tool and does not represent a preferred lender list or endorsement of specific lenders.
The organization said the resource can be used by law schools alongside financial aid counseling to help students evaluate private loan options.
AccessLex Institute, headquartered in West Chester, works with nearly 200 American Bar Association-approved nonprofit and state-affiliated law schools on programs related to financial education and access to legal education.
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