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Graduate School
Strategies for Affording Law School
Information
provided by Kaplan Test
Prep & Admissions
Paying for law school requires the same kind of careful
planning that you used to get admitted. When you're thinking about applying
to law school--optimally, 15-18 months before you plan to enroll--you
should also be considering how you're going to pay for your
education. Construct a financial plan that takes the long
view. After all, depending upon whether you enroll full or part time
or pursue a joint degree, law school is a three- or four-year
proposition. Here are some additional tips to help you afford law
school:
Pay down your consumer debt
Credit card debt should not exceed ten percent of the
amount the school budgets for monthly living expenses. If you haven't
already done so, add up your monthly credit obligations. Figure out which
are charging the highest interest rate and pay those off, if possible. If
not, reduce the balance as much as possible. Don't make any purchases that
send your debt back up.
Take out extra loans
In certain cases, financial aid officers will allow
you to add your extra expenses to your budget. And although you probably won't
get extra grant money from your school, you might be able to take out
additional loans for these expenses.
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Attend school part time
If you can't eliminate your expenses or reduce your
costs to a manageable level, consider enrolling in law school on a part-time
basis. A large number of law schools offer part-time programs, with evening
classes for students with full-time jobs. This option has many advantages,
assuming you're eligible to obtain financial aid--usually loans--for
tuition, books, and other school-related expenses. Your salary may affect
the type of loan you can receive, but you are eligible for the funding.
Work and save now
Planning to go to law school next fall? If you are,
this is not the time to forego a summer job or quit your job early and take
a tour of Europe or participate in some other high-priced adventure.
You can only afford one dream at a time. If law school is that dream, then
you need to be saving your available resources for future law school
expenses, or at the very least, not running up your credit card debt beyond
what you can pay off before you begin law school.
Attend a low-cost school
There are some schools where you might still be able
to write the check yourself! Check out this list of schools with lower
in-state tuitions:
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School
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In-State Tuition
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Out-of-State Tuition
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U. of Arizona
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$5,240
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$13,106
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U. of Houston
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$8,268
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$12,188
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U. of Kentucky
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$6,686
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$16,500
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U. of N. Carolina at Chapel Hill
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$7,446
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$19,359
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U. of Oklahoma
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$5,746
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$14,170
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Some
representative Florida schools and costs
COSTS
at UF Law School 2009
Costs at
FSU Law School 2009
Costs at
Stetson University Law School 2009
Costs at
University of Miami Law School 2009
Costs at Barry
University Law School 2009
Costs at
Florida A&M Law School 2009
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