Paying for Law School | The Law School Admission Council (2024)

Paying for Law School | The Law School Admission Council (1)

Law school is a major commitment and a significant financial investment. Fortunately, there are affordable and flexible funding options to help pay.

Financial Aid 101

Financial aid is available. The primary funding options are Scholarships and grants—the “free” money this is either funded by your law school or funded by private organizations, civic groups, etc.; Loans which can be federal loans or private/alternative/institutional loans. Always use federal loans first; only use private/alternative/institutional loans when federal loans are not available.

College Fund

Sources of additional funds used for paying for law school. These include your savings, financial gifts from family and friends, and earnings from part-time employment in the second and third years of law school.

FAFSA

Types of scholarships and grants. There are merit-based awards for outstanding academic achievements, special talents, leadership potential, and other personal characteristics. There are also need-based awards given on the basis of financial need of the student. FAFSA is used for determining federal, state, and institutional need-based aid eligibility. Tip: Make sure you find out how and when you need to apply for the “free money.”

Decide how much you need to borrow—make sure you borrow the right amount.

  1. Estimate available resources from savings, financial support from family and friends, and earnings
  2. Estimate in-school expenses including tuition and fees, books and supplies, housing, food, transportation, clothing, entertainment and recreation, and miscellaneous expenses.
  3. Don’t forget the cost of getting admitted to the bar. This likely is your ultimate goal. Estimate these expenses as well, including the cost of studying for and taking the bar exam and living expenses until you get your first paycheck.

Here are the steps to follow when applying for financial aid.

  1. Attend a Financial Aid workshop at an LSAC Law School Forum—you also can speak one-on-one to school representatives and to a financial aid expert when you attend a forum.
  2. Identify all financial aid application requirements and deadlines for each school you want to attend.
  3. Collect financial documents needed to apply for financial aid.
  4. Complete and submit Free Application for Federal Student Aid (FAFSA) Paying for Law School | The Law School Admission Council (2).
    This is important.Please Note: Must be submitted each year you need federal student aid.
  5. Review your “Student Aid Report”(SAR); submit corrections/updates as needed.
  6. Provide any additional information requested by the school.
  7. Review the financial aid award notices you receive from each law school.
  8. Apply for loan funding, as needed.
  9. Apply for privately funded scholarships/grants.

The good news is that funding is available to help cover tuition and fees, books/supplies, and living expenses for the academic year. Financial aid can cover the FULL COST of attendance established by the school you attend, if needed. IF YOU NEED TO BORROW loans for this important investment in your future, the flexibility and safety of the federal student loan programs lets you afford repayment of any federal loans you borrow, regardless of career.

Paying for Law School | The Law School Admission Council (2024)

FAQs

Is Law School Admission Council legit? ›

The Law School Admission Council (LSAC) is a nonprofit, membership organization composed of all ABA-accredited law schools in the United States. LSAC provides many services to the member schools, including the Law School Admission Test (LSAT).

Is it worth it to pay for law school? ›

Is a law degree worth it? For many graduates, yes. With a median annual salary of over $145,000, lawyers are the 32nd most highly paid occupation in the country, according to the BLS. However, the ABA notes that the average total education debt among law school graduates is around $130,000.

How do most people pay for law school? ›

The primary funding options are Scholarships and grants—the “free” money this is either funded by your law school or funded by private organizations, civic groups, etc.; Loans which can be federal loans or private/alternative/institutional loans.

What is the average debt for law school students? ›

Law school can be a path to a lucrative career—but it can also lead to significant debts. The average law school graduate debt is $160,000, while the starting annual salary is much less.

Is debt from law school worth it? ›

Many law school students borrow heavily to cover high tuition and other education costs. For some, the cost may be worth it, though it depends on the school and the career pursued after. Potential post-law school earnings vary widely by specialty, firm size, location, and other factors.

Are there any legitimate online law schools? ›

Northwestern offers many online law programs that provide students with the flexibility to learn at their convenience, from anywhere they choose. Their online program is accredited by the State Bar of California and is renowned for its convenient, flexible, and top-quality legal education.

What is the dropout rate for law school? ›

How race and ethnicity play a role in law school attrition. The 2023 law school attrition rate was 3.8 percent, varying across demographics and institutions. This article delves into the types of attrition, the schools with the highest rates, and the impact of these rates on student choices and institutional policies.

Is 40 too old for law school? ›

It's Never Too Late

You absolutely can go to law school and be very successful if you're over 40.

How to not pay for law school? ›

The best way to attend law school with no money is to apply for scholarships or make yourself a prime candidate to be offered scholarships. Low-ranking schools tend to give out higher-value scholarships more frequently.

What are the Tier 2 law schools? ›

This means that the tier 2 law schools include:
  • Vanderbilt University.
  • Washington University in St. Louis.
  • Northwestern University.
  • University of Texas at Austin.
  • University of Georgia.
  • University of Notre Dame.
  • University of Southern California.
  • University of Illinois—Urbana Champaign.

What LSAT score will get me a scholarship? ›

Students with an LSAT score close to 170 have a great chance of earning a scholarship for law school. Some other ways to increase the odds of getting a scholarship for law school are listed below. We also recommend applying to more than one scholarship program to increase your odds.

How to reduce the cost of law school? ›

Position Yourself for Scholarships
  • Earn solid credentials and apply where you stand out.
  • Ensure the program fits your career path.
  • Look for institutional scholarships rewarding other attributes.
  • Explore outside scholarships and fellowships.
  • Explore post-graduation loan assistance.
  • Apply to a public law school.
Jul 24, 2024

How long to pay off 200k law school debt? ›

Decide on a repayment strategy
Repayment planMonthly paymentYears of payment
Standard repayment$2,42610 years
Income-Based Repayment (IBR)$52620 years
Pay As You Earn (PAYE)$52620 years
Saving on a Valuable Education (SAVE)$43525 years

How do you survive financially in law school? ›

Loans and scholarships are the only way to get money while you're in law school. Lots of law students will hold a job of some kind while they are in school. The key to having a job while in law school is to find one that is high-pay/low-hour. Working for your school is often a great option.

Which law school has the least debt? ›

Schools with Lowest Debt-to-Income Ratios
SchoolDebt-to-Income Ratio
Brigham Young University0.76
Cornell University0.78
Northwestern University0.78
Stanford University0.80
6 more rows

Do I have to buy CAS? ›

You will need to purchase a CAS Report for each law school to which you are applying.

Should you reach out to law school admissions? ›

The answer is maybe. If you are in college and you now have more grades than you did when you applied, please send your new transcript. Usually the school will tell you how to do this, sometimes it's right through CAS. If you retook the LSAT, chances are that they already have it, but please send them an update still.

Who is on law school admissions committees? ›

Admissions committees at top law schools usually consist of professional admissions officers, law professors, and law students. These are the people who will read your entire application file, including your personal statement.

How does the CAS work? ›

The CAS is managed by the same organization that administers the LSAT, the Law School Admission Council. The CAS is actually designed to make your life easier. It combines your transcripts, test scores, and evaluations into a single report that it sends to law schools when you apply.

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