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How Do I Pay for Law School

It isn't easy, but it can be done!
Apr 2, 2023

Table of Contents

  1. How you will pay for law school is dependent on a few factors
  2. Determine how much it will cost you
  3. Things to keep in mind when borrowing for law school
  4. Related Articles

How you will pay for law school is dependent on a few factors like: 

  1. How much you have in savings and plan to put towards school.
  2. How much help you will get from your family. This might be in the form of direct support like cash, rent payment, a place to live, tuition support, hugs, or whatever. Or more indirect support, like cosigning on a loan.
  3. Your credit score and credit history
  4. The financial aid policies at the school you are going to 
  5. Scholarships you can receive from the school you attend, or outside organizations

When it comes down to it, in order to pay for law school you have to determine how much it will cost you: 

  1. Figure out the cost of attendance at your school after you subtract financial aid and/or scholarships
  2. Determine how much money you (or family members) are going to pay out of pocket directly towards tuition 
  3. Determine how much money you have in savings that you want to use for things like rent and food. Also consider any ongoing support your family might provide.
  4. Finally once you take the estimated cost of attendance and subtract out the above, then you are left with how much money you will have to borrow each year. 

Things to keep in mind when borrowing for law school. 

First, some good news, if you plan to do a private sector (or a very very rare paying public interest) internship during your 1L or 2L summer, then you will make some money which can help pay tuition or living expenses. Unfortunately, some schools will reduce need-based financial aid if you make money over the summer (or during the school year) so be sure to check with schools if you are comparing them based on cost. 

Next, a recommendation. Budgeting is the worst, and it is also super important. Tuition, rent, gas, Netflix, coffee, healthcare, school health fee (which seems like a scam since you also pay for insurance), books, supplies, food, coffee, fun with friends, coffee, parking, coffee. It all adds up. It’s manageable and you can (probably) get a loan to cover most of it, but loans are expensive and you have to pay them back, so the less you borrow the better.  

Finally, a friendly warning. Law school is long (at least 3 years) and expensive, interest is the worst, and lawyers don’t automatically make a lot of money after they graduate. Schools rarely (I’ve yet to see it anywhere) report the cost of attendance for all three years in one place; probably because $90,000 is scary, but not as scary as $270,000, and they want you to attend and pay them money. Since these numbers are big, it is important to plan for the 10 years after law school, or at least take a few minutes to think about it. To learn more about law school loans you can check out our toolshereor one of our articles about choosing the right loans like this one.

Related Articles

  1. How should I Choose a Student Loan?
  2. Oddly specific questions you might be asking when borrowing for law school.
  3. Is Law School Worth It?
  4. How Do I Pay For Law School?
  5. How Much do Lawyers Make?
  6. Preparing for Law School
  7. How should I Choose a Student Loan?
  8. What is an Origination Fee ? Plus Other Terms you Should Know when Borrowing for Law School?
Windsor MIT '22, Harvard College Advisor

I am the half of LSD that didn't take the LSAT, or go to law school (Sorry about that). But I did go to MIT business school while surrounded by law students and lawyers, so I am somewhat qualified to talk about the intricacies of law school apps and finances.

Windsor (the dog) didn't write this but he WAS a Resident Tutor and career advisor at Harvard College with me, so deserves some credit.

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KnowledgeableRitzyWasp
18:47
@TruthTheX: praying for your gulc uprising
TruthTheX
19:15
Ty me too 🙏
TruthTheX
19:15
@Silver: if you want to practice in IL then there’s likely no better school than the in state schools
BankruptcyAndRestructuringLawIsCool
19:53
@SpectacularDefiantMouse: yeah, like condemnedpuffygnome, I'm not really preparing for law school by taking some courses or anything like that. The only way I'm going to be preparing is by getting myself into a rhythm schedule-wise, well enough in advance of the first day of classes, that I think will be necessary for me to do well 1L.
BankruptcyAndRestructuringLawIsCool
19:54
I'm very much not in rhythm now. lol. But I've 3-ish months.
BankruptcyAndRestructuringLawIsCool
19:55
I've got*
jb2028
19:55
@Silver: Cost of attendance is what matters. $37K in-state tuition = $47K sticker price with a $10K scholarship elsewhere, $70K sticker with a $40K scholarship is better than either, $40K sticker with a $0 scholarship worse than both.
jb2028
19:55
(Assuming placement etc. is comparable)
BankruptcyAndRestructuringLawIsCool
19:57
Congrats on Harvard, jb2028. Any reason you applied to A&M but not Texas at Austin? Seems odd.
jb2028
19:58
@BankruptcyAndRestructuringLawIsCool: Family connection, they gave me a CAS waiver so it was free
BankruptcyAndRestructuringLawIsCool
20:00
Ah, gotcha.
BankruptcyAndRestructuringLawIsCool
20:04
Question for the chat about judicial internships (not externships). My understanding is that judicial internships (as opposed to externships) during the summer are unpaid. How, then, do people who get them pay living expenses during the summer? Do they just make loans stretch for 12 months when they're only meant for 9? I heard that some people supplement the internship with, e.g., a research assistant position with a law professor. But would such a person both do the internship and the RA position at the same time? And if so, is that too much work or feasible?
BankruptcyAndRestructuringLawIsCool
20:04
I don't know what the workload is really like for judicial internships and RA positions.
BankruptcyAndRestructuringLawIsCool
20:05
Also curious what other things people might do to supplement an unpaid judicial internship over the summer with something paid.
jb2028
20:20
@BankruptcyAndRestructuringLawIsCool: Many schools will provide some type of stipend for unpaid summer roles with a public interest employer (defined broadly, often includes any gov or judicial job)
BankruptcyAndRestructuringLawIsCool
20:35
Right, I thought so. At BU, though, it appears that what's called BU's public interest project grant is not available to supplement judicial internships. And I think its public service summer funding is also limited. Oh well.
jb2028
21:13
@BankruptcyAndRestructuringLawIsCool: FWIW they allude to some type of funding ("BU Law has implemented separate funding sources for judicial interns") in this packet https://www.bu.edu/law/files/2023/11/Public-Service-Summer-Funding-Applicant-Packet-2024.pdf
jb2028
21:13
Although they don't give details, and as you note they don't guarantee funding to everyone (which is in line with other $ they offer, e.g. the LRAP)
TruthTheX
21:14
Anyone know how hard it is to do pro bono work as a 1L for judges or fed gov in general in the D.C. market
TruthTheX
21:14
Idk much about pro bono opportunities period but thinking I wanna try to get some work experience as soon as humanly possible
TruthTheX
21:14
When I begin law school I mean
jb2028
21:15
Lines up with BU's limited endowment: $81K per student a few years ago, i.e., enough to support a payout of about $3,250 per student per year at a 4% payout rate https://leiterlawschool.typepad.com/leiter/2022/05/per-student-value-of-law-school-endowments-2021.html
jb2028
21:17
Seems like they're trying to compete with other schools on program headlines (we fund X, Y, and Z and we have an LRAP) but the endowment can't really support that, so they have all these programs but don't guarantee funding. Would not rely on that if you have alternatives.
BankruptcyAndRestructuringLawIsCool
21:19
Thanks for those links. I'll give the public service summer funding information packet, in particular, a careful read. But yeah, your takeaway seems right.
KnowledgeableRitzyWasp
22:33
i could really use some fried chicken right now
KnowledgeableRitzyWasp
22:34
kfc or popeyes
KnowledgeableRitzyWasp
22:34
or korean with gochujang
KnowledgeableRitzyWasp
22:35
i might order some gochujang sauce on amazon and cook some air fried chicken breast filets, they’re really good
KnowledgeableRitzyWasp
22:35
just letting you guys know :)
Mohammed
0:14
Where I can find the definition of the false-endowment?
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