Paying for Law School

Law school is a costly investment and there are special considerations to be aware of, especially as the federal loan rules have changed. The information offered below will help you start your exploration of financial topics, but please note that there are many nuances, case-specific factors, and changes to this landscape so it is imperative that you educate yourself with additional resources, such as those included below.

As a starting point, it is useful to research the cost of attendance for individual schools, the schools’ track record of giving merit and need based financial aid, your credit score if you are considering private loans, and the recent changes to the federal loan rules. You should also create a realistic and informed financial plan for yourself.

Be aware that many people find it unrealistic to hold a job during their 1L year, if they are in a full-time school, and some law schools do not permit employment in 1L. Your Pre-Law Advisor in the Career Center is able to provide you with a foundation as you start to educate yourself on the monetary considerations do your financial planning. Read on and then explore the wonderful and highly detailed resources available linked below.

Cost of Attendance

Cost of attendance (COA) considers the direct and indirect costs of law school. COA includes tuition + fees + insurance (direct costs) and housing + food + transportation (indirect costs).  Other expenses that are not included in the COA might include the cost of borrowing, the loan originating fee, etc. Each law school sets its own COA based on researching the typical and average local housing and transportation costs. This is an area for self-advocacy—you can negotiate with a school to increase their COA for your specific needs once you are enrolled. Before you commit to a school, you can talk to their Financial Aid Office to understand the likelihood of success of a COA Adjustment Request if you were to enroll.  

Borrowing Money

It is common to borrow $100-200K for a law school education.  The amount of debt you leave law school with may impact your career choices, at least in the short term.

Many people take out federal loans. Currently, federal loans are capped at $50K/academic year, have a fixed interest rate and do not require a credit check.

Private loans are becoming more common with this cap, but the maximum amount that you can borrow is still capped by the COA. There are many additional considerations with private loans, for example: the prevalence of variable interest rates, a credit check, no income-based repayment plans, no loan forgiveness after public service, no loan repayment grace period. It is vital that you review any terms of a loan (public or private) very carefully. If you are exploring private loans, it may be helpful to ask the law school you are enrolling in to provide you with their Preferred Lender List as a starting point.

Financial Aid — Unique Considerations for Law School

Financial aid from law school supplements loans based on either merit or need-based considerations. Unlike for undergrad financial aid, for law school it is essential that you are aware of school specific filing deadlines. These school deadlines can vary widely and you do not want to miss them. It is advisable to also complete your FAFSA paperwork, but there is no need to rush to do that early.

Individuals going to law school are considered “professional students” and they are viewed as “independents” even if their parent claim them as “dependents” on their taxes. So, for the purposes of FAFSA, no parental information is needed, however many schools will require that you provide it to them for the school to take into consideration.

Did you know that conditional scholarships are more common for law school than for undergrad? Be on the lookout for them and give them careful consideration. Also, work-study is more limited in law school and often prohibited for 1Ls.

As the Big Beautiful Bill is beginning to be understood, a few key takeaways for law students are: it appears that the federal loans for professional students (incl. law students) will be limited to $50K per year with a $200K lifetime limit for graduate programs; that Public Service Loan Forgiveness remains possible for federal loans; that Grad Plus Loans are eliminated as of July 1, 2026; that some favorable repayment plan options are being eliminated. You are advised to do thorough research on the impacts of the federal changes on your ability to finance your law school education.

Resources on Financial Aid for Law School

Review material from reputable sources, such as the ones below and from law schools, and speak with financial advisors. The information provided in this blog is accurate as of May 2026 and is intended to serve only as an informational introduction to these topics.

By Rebecca Corke
Rebecca Corke Pre-Law Advisor
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