FINANCING YOUR
LEGAL EDUCATION
PAYING FOR LAW SCHOOL
There’s no beating around the bush; law school is extremely expensive. The average
cost of attending law school can range anywhere from $150,000 - $300,000. When
applying to law school it is important to develop a financial strategy that includes
creating a realistic budget that includes tuition, living expenses, and other relevant
costs. As you embark on your educational journey, it is paramount that you create a
comprehensive strategy that will help you manage these expenses realistically. Your
budget should encompass repayment options, financial aid packages, and anticipated
future income based on your legal specialty and location. Keep in mind, depending on
your legal specialty, location salaries can vary. Questions to consider while choosing a
legal specialty are:
What fields are growing the most rapidly?
What is the range of salaries of people in my area and field? Consider the low,
average, and high salaries.
What are the job prospects like in the area of law I want to study? Consider location
as well.
By carefully evaluating this information, you can make the most informed decision that
aligns best with your interests, skills, and financial goals, ensuring the best financial
career path for you. Now that you have considered those questions, we can delve into
the primary funding options available for law school.
The primary funding options in law school financial aid packages are scholarships,
grants, and loans.
Scholarships & Grants
Scholarships and grants are “free” money that you do not need to pay back. They can
come from your school’s financial aid package or outside organizations. Grants and
scholarships are often dispersed in two categories: Merit-based and need-based.
Merit-based scholarships are awarded to students for outstanding academic
achievement, talents, leadership ability, and other characteristics. Need-based
scholarships are awarded on the basis of the demonstrated financial need of the
student. Colleges will use your FAFSA to determine state and federal eligibility for
additional money.
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Pre Law Resource Guide
LA Civil Rights