I am currently in the application process of going to law school. I most probably will not be going to law school in the city I am in (Los Angeles) and will have to branch out to cities close to me. I live in California so expenses are high and so is law school. I have not received any responses from my applications and don’t know what my scholarships are, but all the schools I applied for have conditional scholarships and I would like to be prepared in case anything happens. My schools are 54-67k a year only and I have about 16k in savings, 50k in my 401k which I will have to withdraw. I am looking to pick up an extra job, but I am going to for sure need a private loan; for at least 100-150k just to live off of for the next 3 years for rent and living expenses. So where are we getting our private loans? How are we doing this? Need some advice especially after this big beautiful bill. I also don’t want to hear things like don’t take out private student loans or retake the L-SAT. It is what it is; most people will be taking out private student loans anyways.
How are we paying for law school? Any recommendations?
byu/dnafjei inStudentLoans
Posted by dnafjei
3 Comments
> So where are we getting our private loans? How are we doing this?
Shop around at national banks, and local banks and credit unions. Go with who offers the lowest rate.
> My schools are 54-67k a year
Tuition only or COA?
> I also don’t want to hear things like don’t take out private student loans or retake the L-SAT
This is a public forum, people will say what they are going to say. Matter of fact, I bet some people will chime in with ‘I’m a lawyer, don’t do this trust me’ and you might want to consider what they have to say
I wouldn’t even go to law school with the new limits and I say that as someone that had a conditional scholarship, lost it, and graduated with 200K of law school debt
FWIW when I worked at a Law school, students *were not allowed* to have a job in the 1st year and tbqh they did not have time for one. Do not count on employment unless you already have something extremely flexible & non-demanding.
I’d say go to the tier of school that will provide significant funding for you specifically