Money for law school is available in the form of scholarships, grants, work-study, and loans. Law students finance most of their education through loans, from either the federal government or private sources, and in many cases from both. The amount of aid you receive and the form it takes is largely determined by the law schools; therefore, the Law Schools to which you are applying should be your primary source of information. This article can give you answers to some basic questions you may be asking yourself:

* What does the process of securing financial aid involve?
* How is eligibility for financial aid determined?
* What goes into a financial aid package?
* What can I do ahead of time to improve my chances of getting financial aid?

Changes in financial aid rules and regulations are ongoing. Law school policies vary. Therefore, it is your responsibility to stay current and to educate yourself about law school loans in much the same way that you research law schools when deciding where to apply.

The single best source of information about financing a legal education is the financial aid office (or the website) of any LSAC-member law school. The financial aid office at each school can provide information about how students at that particular institution typically finance their law school loans. Information about private scholarships, application procedures, and alternative school loans are available through the Internet.

The cost of a three-year law school education could exceed $150,000. Tuition alone can range from a few thousand dollars to more than $40,000 a year. When calculating the total cost of attending law school, you also have to include the cost of housing, food, books, transportation, and personal expenses. Law schools will determine the student expense budget for you: see a helpful law school directory. Today, approximately 80 percent of law school students rely on education loans as their largest source of financial aid for law school.

Loans from governmental and private sources at low and moderate interest rates are available to qualified students. Both federal and private law school loans are based on the law school’s estimate of your need and the overall cost of attending. Credit history is a factor for private loans. Students must have good credit to be approved for most private loans. Typically, the lowest interest rates are associated with federal loans; private education loans are available at higher rates. Institutional loans may be available from the school. Scholarships, grants, and fellowships exist, but are limited. Some students are offered part-time employment through the federal work-study program in their second and third year of law school. First-year students are expected to concentrate fully on schoolwork.

Any additional information is available from the law school financial aid office of your school of choice.