Getting a law degree can open the door to a lucrative career as a lawyer. But how much money do you have to pay to earn that degree? The numbers can be surprisingly high. Many new lawyers are surprised to find that, despite their above-average salary, they struggle financially for their first few years out of law school. Why? Enormous student loans!
In this article, we take a look at the complicated financial realities of law school. We also examine potential scholarship opportunities and ways that you can develop a more competitive application.
How Much Does Law School Cost?
The cost of law school can vary pretty dramatically based on where you go. The general range is between $25K-$50,000 a year. The most prestigious law schools can cost even more than that. Most students complete their degree in three years making the combined cost somewhere in the ballpark of $150,000.
There are, of course, expenses beyond tuition. For example, you can expect to pay even more if you are boarding at the school. Your books also will not be free.
In general, however, newly minted lawyers leave with something in the neighborhood of six figures in debt student loans.
Are there Scholarship Opportunities?
There are scholarship opportunities that you can apply for. While full rides are not very common they do happen. The best way to get a scholarship is to begin building a strong transcript early on.
The more competitive application, the better chance you will have of receiving award money.
Keep in mind that there are plenty of grant opportunities that are not strictly merit-based. For example, if you qualify for some type of minority grant, you may find that there are fewer eligible applicants, making the money slightly easier to get.
In any case, it always helps to apply widely for a wide range of opportunities. Cast a big net and see what you can get. Small awards up. While $1000 may not sound like very much in the scheme of things, it is ultimately money you don’t have to give to the school.
How Do You Get Into Law school?
Many may be surprised to learn that you do not necessarily need to finish at the top of your class to get into law school. Good grades certainly help—particularly if you are hoping for an Ivy League experience—but it isn’t mandatory.
Law school admittance hinges on two factors:
- Grade point average and
- LSAT scores.
The LSAT is a standardized test that evaluates not your understanding of the legal system but your critical thinking skills. Many questions are comparable to what you might encounter on an IQ test.
“You are planning a party. You are inviting A, B, C, D, and E. E will only sit by B, B will only sit by C, and E will only sit by A. Next to who do you sit D?”
Or something like that.
A great LSAT score can make up for a mediocre GPA while a bad one can nullify a great academic transcript.
A B average can get you in under the right circumstances. Even lower scores may be considered with a strong enough LSAT.
If you are an undergraduate student considering your future as a lawyer you should definitely prioritize getting good grades.
You should also begin preparing for the LSAT.
While you can’t memorize answers, you can take practice tests that will prepare you for what the actual exam will be like.
Consider tutoring services from someone who has already taken the test. You can’t necessarily learn logical thinking you can get used to the unique way that questions on that test are asked.
Major Requirements?
Here’s what you don’t need to do: major in pre-law. In fact, there are no undergraduate requirements except that you need to have some type of degree before you can apply to law school.
Previously, aspiring lawyers were encouraged to take English, or philosophy, or even Latin to prepare ahead of time for some unique requirements of law school.
In reality, there is only modest truth in the benefits of doing so. While majoring in pre-law may help you determine that law school is not right for you, it won’t do much more than any other degree to prepare you for success.
Sure, learning early on that you don’t want to be a lawyer will save you on law school tuition. However, it will also result in a degree with no real-world application.
Instead of using your undergraduate degree as a way to prepare for law school, consider majoring in something that genuinely interests you. Especially if that something will equip you with skills that open up doors beyond law school. Something you can fall back on if you decide that becoming a lawyer isn’t for you.
Education. Marketing. Even video editing. The sky is the limit.
Conclusion
Law school is expensive, and financial assistance in the form of grants and scholarships is a little bit harder to come by than it is for undergraduate students. Should that deter you from pursuing a career in law?
No! Remember that your education is always an investment. Law degrees may cost a lot of money but they also produce the potential to make a lot of money. Successful attorneys generate six-figure salaries. Extremely successful attorneys make even more.
If you are interested in becoming a lawyer work hard, apply for every scholarship and grant that you can, and find the educational route that makes the most sense for your financial needs.
