The average law school costs about $30,000 to $40,000 a year just for tuition. Living expenses typically cost upwards of $20,000 a year, depending on the type of city one resides within. Before one decides to make the choice to attend law school, it is always a good idea to consider the cost of law school. The following three factors should be seriously assessed prior to application process:
Loans and Scholarships
The way that a majority of law students pay for their education is through federal loans. Federal loans allow law students to pay for their tuition costs and have access to a reservoir of cash for living expenses. The average law school does not give out many scholarships to students. Students may be able to find additional scholarships from private organizations like the American Bar Association or other law firms in the area.
Research the Costs Before Attending Law School
It is important for one to see the entire cost of a legal program by using a financial calculator before he or she commits to a legal education. A person should look at his or her personal economic situation and compare it to the entire cost of a law school program. A student should consider how he or she will be able to make up for any additional costs that law school may incur.
Students frequently need to buy a car, rent an apartment and maybe even buy a computer when they move to a new city to attend law school. They should make sure that they will have the financial means to afford these extra costs.
Use the Summers Wisely
During the summers, a law student may be able to meet living expenses by taking a job at a large law firm. Students are usually attracted to taking on jobs at large law firms because they pay at least $2,500 to $3,000 a week. With these types of salaries, students can pay off their cars, pay for living expenses and maybe even pay off some of their tuition from the school year.
The summers are a prime time for students to earn the money that they will need to survive during the school year and to pay for a bar exam prep course upon graduation. The typical bar exam prep course costs $3,400 so students should be prepared to have the cash to pay for this too.
The preceding factors should be looked at carefully by a student before committing to law school. Doing so may enable a law student to afford the education without going totally broke.
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