Let’s face it, law school is expensive. Incredibly expensive. But if you’re worried about being unable to pay for it and you simply just have no idea how you will, fear not, because there is always a way to pay for the education that you want. There are many great lawyers, such as the lawyer Jeremy Diamond, who managed to find ways to fund their law school degree and it’s likely the case that you will too.
So where do we start?
Save Up Some Money
You don’t have to start law school straight out of your undergraduate. You can take some time off from school (and many people advise this), so that you can get into the flow of working and making a full-time wage. This can also be a great opportunity for you to pick up a paid internship in your field to strengthen your resume.
Try to save up enough money to pay for the initial course fees, any out of pocket expenses like a place to live as well. You can do this by researching the cost per month to live in the area and save up a few months worth of living expenses.
Start looking for scholarships as soon as you get into a law school that you plan to attend. First research the scholarships that the school offers to see what you can qualify for. Are there any academic scholarships you can earn? Something for extra-curricular activities you’ve done? It may be wise to research what law schools offer the best scholarships before you apply.
Once you’ve searched for internal scholarships, look on scholarship sites for national ones. Not only do these carry a lot of money, but they carry prestige as well. They’re just a bit harder to get.
Loan Repayment Assistant Programs
Most schools offer some sort of repayment assistant program that you can use. These typically involve paying your course fees in increments throughout the year(s) of study. So you may make two or four payments each semester. The only downside is that these payments are often quite large, which are hard for students who pay their own way to afford. This is a good opportunity for some students however.
Most law schools should have a relationship with a private loan finance company. This could be a company such as Wells Fargo or Sallie Mae, who will provide you a learn. For Wells Fargo specifically, they will loan you between $5,000 and $100,000 at a reasonable rate and you will not need a co-signer for your loan either, as it’s a higher level of education than an undergraduate degree. These are often an option for students who expect to take on massive amounts of student loans.
Financing your law school degree can often seem like an intimidating tasks, but with some planning ahead and enough research, you can make it happen to get the degree you’ve always wanted.
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