While many graduating law students do find prosperous and high-paying careers, for most students the road to a career in law will be paved with debt. A typical law student will take out loans to cover tuition, living expenses and the cost of a multi-state bar exam. This makes it essential that prospective law students consider and prepare for the total cost of attending law school in order to minimize their debt burden after graduation.
There are a number of ways to reduce the costs associated with attending law school including applying for grants, scholarships and work-study programs. To qualify for these types of aid, a student must submit the Free Application for Federal Student Aid (FAFSA).
In addition to grant and scholarship opportunities, students can also pursue federal and private loan programs. These options offer competitive interest rates, flexible repayment terms and potential loan forgiveness for borrowers.
Lastly, a student can seek out employer assistance through tuition reimbursement programs. Many companies will cover some or all of the cost of a law degree for employees that pursue degrees that will directly benefit the company.
In the future, Kafafian hopes to see Flywheel expand beyond the top 14 schools in the country and reach out to a greater percentage of law students. He believes that this would not only nudge graduates into lower-salary careers and reduce their debt burden, but would also help level the playing field by not making a person’s family financial status the deciding factor in whether they attend law school. Law Tuition