How to Negotiate Your Law School Financial Aid Package
Law school is expensive and worrying about how you're going to pay for it likely consumes a great deal of your brain's bandwidth. Your acceptance at a law school comes with a financial aid package that typically includes multiple types of need-based and merit-based funding. Law schools use your Free Application for Federal Student Aid (FAFSA) to determine your need. You should fill this application out as soon as possible—ideally, in October or November of the year before you intend to start law school. Law schools only have so much money to give each year. The earlier you apply for law school financial aid the better chance you have of negotiating your package.
Some pieces of your funding package are non-negotiable, but you can potentially negotiate some parts. Below I have provided a short overview of the types of funding that could be included in your package. Once you have an understanding of what you are looking at when your offer(s) roll in, you will know which pieces of your package are negotiable.
Types of Funding in Your Law School Financial Aid Package
On a general level, there are two types of financial aid for law school: the type you have to pay back and the type you don't. The goal of negotiating the best financial aid package is getting as much funding as you can to cover your costs without having to pay back the aid.
Financial Gifts
Most law schools include at least one type of financial gift in their funding package. Gift aid includes:
Merit-based Scholarships.Law schools award these scholarships based on academic achievement. Your undergraduate GPA and LSAT score play a large part in whether you receive a merit-based scholarship and how much you receive. Merit-based funding is negotiable in many situations.
Need-based Grants. Law schools award need-based grants based on the information you provided on your FAFSA. Some schools also require applicants to fill out a CSS Profile with College Board to qualify for need-based grants. These awards are not negotiable.
PRO TIP: Harvard, Yale, and Stanford only offer need-based grants. They do not offer merit-based scholarships.
Federal Work Study (FWS) & Federal Loans
Some law schools also include work-study in your financial aid package. If approved for FWS, you work part-time in an approved position on campus and receive a paycheck to help you pay for school. Like your undergraduate financial aid package, loans will make up the balance of your financial aid package. You can take a certain amount of Unsubsidized Federal Loans and an unlimited amount of Federal PLUS loans.
Ultimately, the goal of negotiating your law school financial aid package is to increase your amount of merit-based scholarships so you can reduce the amount in loans you need to take or avoid having to work while you attend law school.
How to Negotiate Merit-Based Law School Scholarships
Following these guidelines will give you the best chances to negotiate the amount of merit-based aid you receive from your law school of choice.
Don't Play Off Of Other Offers
Law schools know you have applied at more than one school and that you have potentially received more than one financial aid package. If the Dean of Admissions suspects you are only interested in more money to increase your offer at another school, you likely will not be successful. Instead, save negotiations for the school you really want to attend. Visit the school, meet with faculty, talk to students, and demonstrate that you are eager to become part of the community. Your engagement will go a long way in helping to secure additional merit-based aid.
Be on Your Best Behavior
Law schools want students who will succeed when they graduate, as demonstrated by a commitment to learning, professionalism, and a great attitude. Regardless of how you might be feeling, always act professionally when you visit the school and interact with others. Employ good manners by saying "Please," saying "Thank you," and always showing respect and appreciation for the time people give you to answer questions. Avoid complaining about anything because it can paint you in a negative light.
Do Your Homework
You cannot effectively negotiate if you do not understand the offers you have received. Each school is different, but you need to know the math and closely evaluate where you want to go. You should also know how much law school support you need to ensure you can attend. Consider the following about your offers before negotiating:
Does your scholarship last for one, two, or three years? A lower scholarship that lasts longer might be a better option.
What is the school's rank and how do their placement statistics look? Taking out a small loan to go to a high-ranking school with a strong placement record might be better than going completely debt-free with a low-ranked school.
How does the cost of living impact each offer? The money you save in lower tuition and more scholarships could easily be eaten up in a high-cost of living area.
Reach Out to Admissions Committees
After you've forged relationships by visiting campus and have carefully evaluated your offer, you can reach out to admissions committees to inquire about additional funding. Focus only on the top one to three schools where you know you would enroll. Ask if you qualify for additional funding, but do not offer information about other funding packages unless asked. Most importantly, give committees a reason to want to offer you more aid by advocating for yourself. Your ultimate goal is to thoughtfully and articulately persuade admissions committees that you bring something special to their school and the broader legal community, so they want to help you get the funding you need to enroll in their program.
Funding law school can be challenging, but you have options to get the money you need. If you cannot successfully negotiate a better financial aid package, consider an LRAP program through the school where you want to enroll. Contact me today with additional questions you have about your law school financial aid package.