Friday, December 4, 2009

Paying for Law School during the Recession

Posted by: Christina Dove

During the recession it has become increasingly difficult for many college students to afford the costs of college and higher education. In particular law school prices have skyrocketed and many students are struggling to finance the costs and pay back student loans. Many qualified and aspiring lawyers are at a crossroads in continuting their education in law or finding another job that will not require as much financing and repayment in the future.

Some of the financing options include seeking any scholarships that you think you may qualify for. The worst that can happen is that you do not get it and the best case scenario would be that you do get a substantial amount of money to cover the costs. In addtion, some schools offer private loan options that may cost less that a traditional bank loan and be much easier to qualify for. Another option is to be a TA for an undergraduate class that you have already taken or a TA for a first year law class during your second or third year of law school.

Despite the rising costs and less available financing, there are many students still applying to law school suprisingly. The number of law school applications have risen by 4.3% in the last year. However the number of graduating law students getting jobs has not increased at the same rate. Many aspiring lawyers are looking for the high paying jobs upon completing such a rigorous program and they are just not out there in this struggling economy.


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