Regardless which school you select to attend, the next years will be pricey, which means you will probably need law school financial aid. In fact, depending on your school,
the costs of tuition, books, study materials, and living expenses can drive the cost tag for law school in to six figures. With these costs, it is not surprising that most students need financial aid for law school, which usually comes in forms: loans, scholarships/grants, and federal college work study, discussed in more detail below.
Law students may start the method of requesting loans from the government by filing the Free Application for Student Federal Aid (FAFSA). These loans must be repaid and include:
Federal Stafford (subsidized and unsubsidized): fixed-rate loans offered by the federal government. Subsidized loans are awarded based on financial need, and you are not responsible for interest before you start repayment or in the coursework of deferment. To take out an unsubsidized Stafford loan, you do not must show financial need, but you will be responsible for interest from loan disbursement until repayment.
Visit Stafford Loan for Graduate Students for more information.
Federal Perkins: low-interest loans awarded by law schools based on need. As with Stafford subsidized loans, you are not responsible for interest before you start repayment and in the coursework of deferment.
You can find more information at the Federal Perkins Loan Program.
Graduate PLUS: provided through private lenders with decisions based on credit reports, Grad PLUS loans can be used to make up any difference between other federal loans and school-provided aid. Be positive to check your credit document before applying in order to clear up any potential issues. Keep in mind that you are entitled to free credit document per year through AnnualCreditReport.com.
Law school loans are also obtainable from private lenders, including the following:
Campus Door Loans through Access Group
Citi Assist through Citibank
LAWLOANS through Sallie Mae
Law School Loans through Key Bank
Again, be positive to receive a duplicate of your credit document before applying.
Scholarships and Grants
Law students may even be eligible for scholarships and grants, which are often awarded on the basis of merit and/or financial need and do not must be repaid. Law schools themselves usually offer such aid opportunities, so be positive to request information, including any school-specific applications, from each law school you are thinking about.
Federal College Work Study
At some law schools, you may be able to participate in the Federal Work Study program through which you can work part-time in the coursework of the school year and full-time in the coursework of the summer to help cover law school costs.
Keep in mind, though, that most ABA-approved law schools forbid law students from working in the coursework of their first year, so even if the schools you’re thinking about participate in the program be positive to check whether you can do so every year in order receive a complete picture of your whole package of financial aid for law school.