The legal profession has historically required a high level of education. Regardless of whether you want to work in law enforcement, corporate legal services, the judiciary or nonlegal fields, you may find yourself with a heavy burden of student debt to carry after graduation. In some cases, that debt can be prohibitive, preventing you from pursuing your dream career.
The average cost of law school, including tuition and living expenses, is $88,830 per year for three years. With tuition rates increasing each year, it is important to consider all of the costs involved in determining your financial eligibility for law school.
Law students need to carefully weigh the benefits of a legal education against the projected debt load and determine if a law degree is worth the investment. It is also important for prospective law students to research employment outcomes and examine expected salaries in their preferred legal specialties of interest. Additionally, it is helpful to review alternative pathways to a law degree that could be less costly.
Scholarships and grants can significantly reduce the cost of a law degree. These awards are typically merit-based and determined primarily by a student’s UGPA (undergraduate grade point average) and LSAT scores. In addition, many law schools report the percentage of students receiving scholarships and grants on their ABA Standard 509 Information Report. These reports can be found by searching the words “ABA Required Disclosures” or typing in “509” into a law school’s website search bar.
There are also a variety of government programs available to help alleviate the costs of law school. For example, the FBI offers a highly selective program that provides up to $50,000 in tuition assistance for selected students who wish to become agents. Other programs include the Federal Public Defender Loan Repayment Assistance Program and the Herbert S. Garten Student Loan Repayment Assistance Program.
Various law firms and other employers offer tuition reimbursement as part of their benefit packages. Some of these programs reimburse for all or a portion of the cost of law school, while others offer tiers that increase with the number of years a student works for the firm.
While it is difficult to avoid the burden of student loans, a well-planned financial strategy can make law school an affordable option for many students. In addition to exploring various law school scholarship opportunities, it is recommended that students rid themselves of any consumer debt before attending law school and develop spending habits that will allow them to minimize non-law school related expenses. The Mizzou Law Thrifty Budget can be used as a guide for law students to maximize their financial aid eligibility and minimize their debt load.Law Tuition
