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Written by Daryn Pelfry
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Wednesday, 06 February 2008 13:26 |
 By velo_city at Flickr
Law school is expensive. Even if you decide to attend night school, there will still be many sacrifices to make. Before you begin law school, take the time to get your finances in order so you can have a successful first year.
Plan in Advance
Planning in advance is the best way to limit the amount of stress you will feel for the next three years. Create a budget that is honest and reliable. Pay off all credit card debt, car loans and other debt you have before starting law school. Try to keep this debt as low as possible for the duration of the time you spend in law school.
Decide where you're going to live and how much you can afford to spend on living expenses. If you need to find roommates or move back home, discuss your options with family and friends so they know what to expect.
Apply for Loans, Grants, and Scholarships
Because law school is so expensive, most people have to take out student loans in order to pay for their education. Thanks to the Internet, searching for loans, both Federal and private, grants and scholarships has become much easier. Before you apply to law school or after you've been accepted, research your financial options. Start with the school you will be attending. Apply for every loan, grant or scholarship they offer. Apply for Federal loans next.
Some law schools offer stipends that can help pay cost of living expenses. These stipends can be difficult to obtain, however, because many people apply for them each year. Make sure you turn in all of your financial paperwork on time so you can be considered. The same goes for financial aid from the government and from the school.
Start Saving for Law School
Having a financial plan is just the beginning. Start saving for law school as soon as possible. Calculate the cost of living during the school year, search for part-time jobs that you can work during holidays and learn more about your school's policies on working during the semester. Many schools prohibit students from working while they are enrolled in the program.
Some students make the decision to move back in with their parents or relatives, find roommates or postpone law school for a year or more until they have enough saved to cover these expenses. Law school is stressful enough without having to worry about paying rent, buying food or paying for repairs on your car. If possible, move to a place where you can walk to class as this will take off some of the financial burden of making car payments or repairs for a few years.
Work during Vacations and Summers
Working when you can is a great way to supplement your savings. Some law students work in law offices while others tend bar or waitress to increase their savings. Be creative when it comes to finding employment. You may be able to find a part-time job teaching or running group study sessions at the law school you're attending.
During holidays and during the summer, you should find ways to earn as much as you can. Not only will this help take your mind off of school for a while, it will also help you increase your savings.
Attending Night School
If you want to attend law school at night and work during the day, keep in mind that your time to do anything else will be limited. Before you begin law school, make sure your supervisor and co-workers know what you're doing. Many employers help students by allowing them to vary their work schedule, work from home or work fewer hours.
As you prepare to graduate, you should plan on taking a few months off to prepare for the bar exam.
Supporting yourself for the next three years will not be easy. There will be many times when you will question if you've made the right decision by attending law school in the first place. But only you can answer this question. Taking the time to prepare financially can help you succeed in law school so you can take the next steps in preparing for your upcoming career.
Tell us how you are preparing by commenting below!
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