Advising

PRE-LAW ADVISING

Financing Your Legal Education

Money for law school is available in the form of scholarships, grants, work-study, and loans.  By far, most students finance most of their education through loans, either from the federal government or from private sources.  To qualify for loans, however, you must have a good credit rating.  As you begin the application process, order a copy of your financial credit report and review it.  Mistakes are made on the reports (particularly if you have a common name) and it may take many months to correct the information. Some forethought to your credit rating will assure your borrowing power is not jeopardized! 

Plan to file a FAFSA (Free Application for Federal Student Aid) by February 1 of the year you plan to enroll in law school, www.fafsa.ed.gov.  This form requires your tax information.  If your taxes are incomplete, you may estimate figures on the FAFSA (actual numbers will save you time).  You will need a Personal Identification Number from the U.S. Department of Education to complete the FAFSA http://www.pin.ed.gov., A general portal for students about federal student financial aid is www.studentaid.ed.gov.

More than 80% of law students borrow to finance their education, and for 2006 the average accumulated debt load was $54,509 for public law school and $83,181 for private. In addition, many of these students carry an average of $20,000 from undergraduate studies.

Federal Student Aid: Free Application for Federal Student Aid (FAFSA) *

file a FAFSA (Free Application for Federal Student Aid) by February 1 of the year you plan to enroll in law school, www.fafsa.ed.gov. This form requires your tax information. If your taxes are incomplete, you may estimate figures on the FAFSA (actual numbers will save you time). You will need a Personal Identification Number from the U.S. Department of Education to complete the FAFSA, www.pin.ed.gov.

The Federal Student Loan Forgiveness Law: College Cost Reduction and Access Act (CCRAA) of 2007
The CCRAA has many implications for public service in the U.S. and will enable many more graduates to pursue public interest jobs without regard for debt, for many ears one of the major obstacles for public interest minded lawyers. 
Learn more http://www.equaljusticeworks.org/files/ejw_ccraa.pdf

Access Group

Access Group is a nonprofit student loan provider that specializes in graduate and professional student lending.  Their web site features many articles and tools for students.

The Smart Student Guide to Financial Aid *

FinAid was established in the fall of 1994 as a public service. This award-winning site has grown into the most comprehensive source of student financial aid information, advice and tools -- on or off the web.

Information about credit and your credit score

It is important to be informed about your credit and your credit score. FICO scores are your credit rating. Most lenders base approval for credit, and often the rates at which they will lend, your FICO score.

Application Timeline for Financial Aid

This broad outline will keep you on track in attaining the funds you need to pay for law school. This timeline begins in the summer a year prior to law school matriculation.

Loan Repayment Assistance Programs
(from the ABA) *

LRAPs provide loan repayment or forgiveness, lower interest rates on loans, or postponed payment of law school loans to graduates entering specific types of employment, usually law-related public interest jobs.

List of law schools with LRAP (Loan Repayment Assistance Programs) *

Created and administered by bar associations, bar foundations, independent nonprofit organizations and state education administrations, 17 states offer loan repayment assistance programs.

Miscellaneous Financial Resources

Other useful resources