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Financial Aid for Law School Basics

The best source of information about financial aid is the aid office of each school. Each office, unfortunately, has different requirements and multiple deadlines—applying for aid is almost as complex as applying for admission. It is often useful to get a separate calendar just for financial aid deadlines and requirements.

It is best if you apply for financial aid before you receive admission decisions, but this is not always practical. Whenever you do apply, however, make sure you meet all "priority" deadlines, and that you submit all paperwork. The failure to meet a deadline often means that less money will be available for you. In addition, some aid applications ask for current tax information, so doing your taxes ASAP can be helpful as well.

As a first step, get the introductory booklet from the Law School Admission Council (LSAC), "Financial Aid for Law School: A Preliminary Guide". You can download one directly from the LSAC website.

In general, applying for a Direct Student Loan is easy. Just fill out a Free Application for Federal Student Aid (FAFSA). The FAFSA is always required to apply for any federal financial aid. FAFSA is available online. You can also obtain one at IUB from the Office of Student Financial Assistance in Franklin Hall 208 or from any college or law school.

If you have any questions about Direct Loans, check with the financial aid office of the school you plan to attend, or contact the Federal Student Aid Information Center: 1-800-433-3243 (1-800-4-FEDAID).

You should also check your consumer credit reports and make sure they are accurate. Check early enough to be able to correct any mistakes that you find.

Relevant Finance-Related Web Sites

Financing Your Legal Education—Introduction

Law School Admission Council

Funding Sources

U.S. Department of Education (official information on government loans and other programs. A great place to start.)
Access Group (a nonprofit student loan provider that specializes in graduate and professional students. This outstanding website features many articles and tools for students, including loan and repayment calculators and a series of interactive web features to help you understand personal finance and debt management.)
SallieMae (a lending service)
Indiana CLEO Program (While I-CLEO's stated mission is to help disadvantaged students gain access to law school, all are welcome to apply. For those who will attend an Indiana law school.)
Finaid.com (a basic student guide to financial aid; scholarship search engine)
Fastweb.com (scholarship and internship search engine)

Five Law Schools On Money

Credit Bureaus and Consumer Rights

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