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Minimize Student Loan Debt During Law School

It’s been said that money is the root of all evil, but that’s a lie. Not having money is the root of all evil.

The opportunity to make a comfortable living is the reason a lot of people go to law school. And while it’s true that jobs starting at $120,000 are still out there, it’s also true that, today, they’re just hard to find and even more difficult to land.

Today, the more typical starting salary for a law school graduate doesn’t come close to six figures. This shift in the compensation practices of law firms has left law school grads in a predicament that was unheard of just 10 years ago—struggling to pay off student loans.

Ah, the student loan. It’s the albatross of many a great lawyer; pulling them down, drowning them in a sea of debt.

But it doesn’t have to be that way. Here are three ways (for all you 0Ls and current students) to minimize your student loan debt:

Ask for a scholarship.

It’s never been easier for law school students to land a scholarship—especially if your GPA and LSAT scores are above average.

Law schools need students to survive, and fewer people are applying to law school right now. So to get you in the door (or keep you in their classroom), they’re handing out scholarships like government cheese.

If you’re applying to a law school right now, make sure you ask for a scholarship. If you’re in school and don’t have a scholarship, ask for one or consider transferring to a school that will give you one. 

Go part time.

Working during the day and taking classes at night or on the weekends might not have the “sex appeal” of being a full-time student. But if you graduate with little or no student loan debt, it’s more than worth it.

There are schools, too, that will let you switch from full time to part time.

Be smart.

Brew your own coffee. Pack your own lunch rather than eating in the café every day. And do everything you can to ensure that you graduate in the top 10 percent of your class—hire a law school tutor, study like mad—because that’s who get the highest paying jobs out of law school.

Do all of these “smart” things, and you’ll save thousands while in school and make thousands more when you graduate.

 

About the Author
Sumita Dalal is the Founder and CEO of FindMyLawTutor, the largest and most trusted website and online portal that connects law students with law tutors for success in law school. Whether preparing for the LSAT, are currently a law student or are studying for the bar exam, FindMyLawTutor makes finding a law tutor fast and easy.

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