Compare the Sallie Mae® Law School Loan to the Federal Direct Grad PLUS Loan. It can be a good alternative and, if you’re highly qualified, you may receive a lower interest rate.footnote 2
How much does law school cost?
With average tuition prices increasing by $1,398 per year, it may be overwhelming to think about how you’ll be able to cover the rising cost of law school.footnote 1
When figuring out how you’ll pay for law school fees, make sure you have all the associated costs lined up so you’re not surprised by unexpected fees or stuck in a difficult financial situation.
Although prices can vary depending on the institution type and location of the school, the average total cost of law school is $220,335, with an average yearly cost of $48,828.footnote 1
Keep in mind, beyond the tuition price of school programs there are other costs to consider, such as: application fees, books, living expenses, and bar exams.footnote 1
When it comes to covering law school costs there are a lot of tools to help you access paying for higher education without getting you into more debt than you can handle.
Make a plan to pay for law school
You can use a 1-2-3 approach to help figure out how to finance your law degree.
1. Use “free” money first. Supplement your savings by applying for money you don’t need to pay back, like law scholarships, grants, and assistantship positions.
2. Apply for federal student aid. Fill out the Free Application for Federal Student Aid (FAFSA®) to see if you qualify for government loans and grants as well as state and school aid, if they are available.
3. Consider a responsible private student loan for law school. If you qualify, a private law school loan can help you pay any remaining tuition, fees, or living expenses.