Guide for Applying to Law School—Need-Based Financial Aid
One of the major differences between applying to law school and applying for undergrad programs is the availability of need-based financial aid, whether in the form of grants or subsidized student loans. Aid is not available to the same extent for law school applicants. This is because admissions offices operate on the assumption that law students are older than undergraduates and have easier access to funds and loans because of their career goals. Of course, you know this is not always true, especially for those from lower-income families.
Lack of financial aid makes it more difficult for those from working-class families to afford law school and even scares away some from applying. Don't let your socioeconomic background deter you from achieving your goals. Below I offer a quick guide to applying for need-based aid to attend law school, including timelines you need to follow, what factors influence your eligibility for need-based financial aid, and an overview of the forms you need to fill out for your application.
Deadlines for Applying for Financial Aid
Meeting applicable deadlines for financial aid is key to getting some money thrown your way. Even if you are eligible, you will receive little, if any, aid if you apply too late. The law school will have already allocated funds to other students, so it's unlikely they will be able to offer you an aid package.
According to the Law School Admission Council (LSAC), applicants can apply for financial aid beginning October 1 of the year before they attend. For example, if you intend to start law school in Fall 2022, you can submit your application as soon as October 1, 2021. You apply directly through the government, and they disperse a report to the schools of your choice.
You do not have to wait until you get accepted to a particular school to apply for financial aid. In fact, you do not even have to have your admissions application complete to apply for financial aid. In fact, it's in your best interest to apply as soon as possible to ensure the best chances of getting the best financial aid package for the school you attend. The absolute latest deadline for filing for federal financial aid is June 30 of the year you wish to start law school.
Factors That Impact Your Eligibility for Need-Based Financial Aid
Several factors impact your eligibility for financial aid. However, it isn't always black and white. Instead, certain factors will impact the amount of need-based aid you receive and the type of aid you receive, not necessarily disqualify you from receiving it. These factors include:
Your Personal Resources
You will have to disclose all your financial information, including debt and assets. The more assets you have, the more you will be expected to contribute to the cost of attending law school.
Current Federal Regulations
Regulations about how much and what type of aid based on various demographic information change frequently, often with presidential administrations. At times when government spreads money for education around, it can increase the amount of aid and type of aid you might receive in your package.
School Policies and Resources
Each law school has distinctive policies that govern how they award need-based scholarships and grants from their institution. Also, some law schools have more resources than others to award students institutional aid. The schools you apply to impact your eligibility for aid. For example, Yale only offers need-based financial aid to provide students with the funds that make up the difference between their resources and the cost of attendance.
Your Dependent Status
For the purposes of your federal application for law school financial aid, you are considered independent. Your parent's assets and income do not impact your eligibility for financial aid. However, this can change at the institutional level. Law schools differ on their policies concerning financial information about an applicant's parents. They also differ in how they weigh this factor when calculating a final aid package. Sometimes age and other circumstantial information play a role. You should always reach out to a financial aid officer at a particular school to discuss your situation.
How to Apply for Need-Based Financial Aid for Law School
Once October 1 rolls around, you should get yourself ready to apply for financial aid. Here are the major steps you need to take to get it done:
1. Get Your Most Recent Tax Returns Together
You need your tax information to apply for aid. If you submit your application soon after October 1, there is a chance you will have your next year's taxes before you hear a response from the schools where you applied. That's okay. You can update your information once you complete your new tax return.
2. Fill out the Free Application for Federal Student Aid (FAFSA)
The most important form that you fill out for need-based financial aid for law school is the FAFSA. This is the same form that you likely filled out as an undergraduate. You can fill the form out online. Besides your Social Security Number (SSN) and tax information, you will need the following items:
Driver's license information
Records of untaxed income like child support, interest income, and veterans benefits
Records of current assets including cash, savings accounts, checking accounts, investments, and any real estate that is not your primary residence
3. Complete Additional Forms if Needed
Depending on where you apply to law school, you might need to fill out additional forms to qualify for institutional grants or scholarships. Your law school should provide these when they send you your package. However, you should always double-check with a financial aid officer to make sure everything is covered.
4. Wait for Acceptance Letters and Financial Aid Offers
Once your FAFSA is processed and you've completed your admissions applications, you will begin to hear from schools where you applied. Take the time to review your offers. If they are not what you hope, you might have some room to negotiate or appeal your package. Schools approach the appeals process differently. So, you need to reach out to the financial aid office for the law school you want to attend. If you have special circumstances, the school will typically reevaluate your situation to see if they can provide a better package.
Learn More About Need-Based Financial Aid
Planning to pay for law school can be overwhelming and stressful, but financial aid and other types of programs are available to help. If you have additional questions about funding law school or filling out your application for financial aid, visit my law school admissions page to contact me.