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How to Pay for Law School

Law school is expensive. To pay for it, explore all your options for grants and scholarships. Once you’ve exhausted free funding, consider federal student loans before taking out private loans to cover additional costs.

Earning a law degree can be a worthy investment in your future earning power. Unfortunately, law school can also be expensive, and the average law school debt can be prohibitively high.

  • Other ways to pay for law school

Paying for law school: first steps

There are many methods of paying for law school, but you should explore some options before others. Here’s what to consider first when figuring out how to pay for law school.

  • Step 2: Use federal aid
  • Step 3: Compare private loans

Step 1: Exhaust your interest-free options

Before you borrow any money, look for ways you can pay for school without taking out loans and accruing interest.

Law school scholarships & grants

Many law school scholarships and grants exist to pay for law school. Here are a few to get you started:

Step 2: Use federal aid

Once you’ve exhausted all your sources of free funding, you should apply for federal student loans through the U.S. Department of Education.

Start with the FAFSA

To qualify for any federal student aid, you will need to complete the Free Application for Federal Student Aid (FAFSA).

Step 3: Compare private loans

If you’ve exhausted options for federal aid, private student loans can help you get the additional funding you need to pay for your education and living expenses.

Other ways to pay for law school

Outside of scholarships, grants, federal, and private student loans, you may have additional options to help cover the cost of your legal education.

Income share agreements

Income share agreements don’t charge interest payments as traditional loans do. Instead, you commit to paying a portion of your income in exchange for funding.

Work your way through school

Working during law school could be an option, although you’ll need to check the rules with your state bar association to find out how many hours you’re allowed to work.

With the help of LendEDU’s blog, tools, and resources, our goal is to assist you in making educated financial decisions. LendEDU: Educated Financial Decisions.