Financing a Legal Education
The cost of tuition and fees (not including rent and living expenses) per year averages about $28,500 for state residents at a public institution, approximately $42,000 for out-of-state residents at a public institution and approximately $50,000 per year at a private institution. In addition, you need to consider a law school's Cost of Attendance (COA). The American Bar Association (ABA) requires that each law school publish their COA. This is a school’s estimate of the total cost, beyond just tuition and fees, and includes cost of living, transportation, and some personal expenses for the 9-month academic year. When you compare the cost of a legal education at different schools, look at the COA, not just the tuition and fees.
Most law schools consider grants and scholarships to be “merit aid”—which is awarded based upon your LSAT and GPA numbers and other factors in relation to other admitted applicants (75%ile can equal a full-tuition scholarship) not your financial need. Many schools also offer need-based grants and scholarships, and there are scholarships you may apply for based on your interests, accomplishments, and circumstances. A very few law schools award grants and scholarships only on a needs basis. Loans are also available, either through the federal government, some state higher ed. authorities or commercial lenders. Check specific law schools’ financial aid award policies for more information.
The single most important thing you can do is to read AccessLex.org’s Financing your Legal Education guide. Other sources of trusted information are provided by the U.S. government and LSAC. Most law schools require those applying for financial aid to submit the FAFSA. Make sure you stay on top of financial aid applications for each school to which you apply. Submit your financial aid application as soon as the school allows you to apply, otherwise, if you wait too long, all the money may have been awarded.
All U.S. Citizens are eligible to borrow up to the Cost of Attendance (“COA”) which includes tuition/fees plus living expenses for law school. Each school is required to publish their COA on their website. This information allows you to compare apples to apples—looking at the tuition price alone does not paint the full picture or let you compare costs of different schools. International students or U.S. citizens are usually eligible for a private loan from the school, or a commercial loan. These typically have higher interest rates than government loans, so you will pay more to borrow money this way. Some lenders may require a co-signer, someone who pledges to be responsible for repaying the loan.
A searchable database of scholarships and a highlighted listing can be found on the LSAC website.
Bowdoin awards a few scholarships to seniors and alumni who have been admitted to law school each year.