Top Law Schools and Financial Aid

<p>I was just reading on the Stanford Law website that there are tuition fellowships for students with need, which cover the difference between the first $26,000/year and the expected $60,000/year expenditure (numbers rounded). This means that, for a person who needs complete financial aid, a law degree would only cost around $75,000 total for the three years---which doesn't seem that bad.</p>

<p>So, my question is: Given that it appears that a person without means could go to a top law school fairly cheaply (if they could get in, of course), it would appear that he or she would not be forced into either the corporate law path or the regular public interest path, and could pursue other things, such as being a law professor, doing something entrepreneurial, etc. </p>

<p>Are top law schools like top undergrad schools in that they pay (most of) your way if you can get in and are broke?</p>

<p><a href="http://www.law.harvard.edu/students/sfs/basics/LIPP.php%5B/url%5D"&gt;http://www.law.harvard.edu/students/sfs/basics/LIPP.php&lt;/a&gt;&lt;/p>

<p>The Harvard program referred to is not a financial aid program while one is a student. Instead, it helps to repay outstanding student loans for those who follow certain career paths post-graduation.</p>

<p>For the most part, law schools require a student to include not only one's own financial information, but also their parents' financial information, in their financial aid applications even if the student applying for financial aid is actually financially independent of their parents. Many law schools require for a student to include their parents' financial information unless the applicant is between 26 and 30 years old at the time of application, depending on the law school. Typically, it doesn't matter if that student is married with kids, or if that student can demonstrate financial independence. </p>

<p>There have been past threads on this topic with much more detailed information than I provided, which may help you sort through this issue.</p>

<p>yes and no. First, as Sally explained, if you are under 27 or 28, depending on law school, your parents' income counts. That includes both parents if yours are divorced. Income of a spouse counts too. Some of the top law schools -including Stanford--use the services of an organization whose website can be accessed at <a href="http://www.needaccess.org%5B/url%5D"&gt;www.needaccess.org&lt;/a>. It includes a list of participating schools. </p>

<p>I haven't done it in a while, but it used to be that you could access the forms and get an idea of how much if any financial need based aid you would get. You can print out a paper copy of the form and see what kind of information you will have to supply. Anyway, that website is a good place to start.</p>

<p>As Mike mentioned, there are also loan forgiveness programs. These essentially provide that you don't have to pay your loan during years in which your income is low. Last I knew, low was about $43,000--it goes up with inflation. Between $43,000 and some other number, which used to be about $82,000--you pay on a sliding scale. The more you earn, the more you pay. Above the cut off, you have to pay the full amount. Most public universities do NOT offer loan forgiveness programs.</p>

<p>They vary a great deal among law schools, so check the details of the law schools which interest you. One big caveat is that clerkships don't exempt you from repayment during clerkship years.</p>

<p>Remember that they will also use loans to fulfill your need, which means the first 20,000 of your FA will be in the form of stafford loans (subsidized and unsubsidized).</p>