Ep 125: How To Apply For Financial Aid For Law School
In this episode, we explore the essential steps for law school financial aid, centering on the Free Application for Federal Student Aid (FAFSA). Emphasizing the FAFSA's significance, we discuss early submission strategies, document preparation, and the pitfalls of paid FAFSA services. AccessLex is highlighted as a valuable resource, offering free financial advice for law students. We cover the FAFSA school designation process and explain loan types, repayment considerations, and the potential impact of loan forgiveness programs.
Episode Highlights
Early submission is key for FAFSA; file as soon as possible after release for optimal aid opportunities.
Prepare tax returns, and consider filing 2023 taxes early for potential updated information.
Beware of companies charging for FAFSA completion; seek free assistance from law school financial aid offices.
AccessLex offers free one-on-one financial advice for law students, including post-graduation support.
Utilize AccessLex resources for comprehensive guidance in the financial aid process.
Understand differences between subsidized and unsubsidized loans; grasp distinctions of Direct Plus Loans.
Federal loans offer deferral options during school, generally favorable interest rates.
Explore federal loan programs, such as Public Interest Service Loan Forgiveness.
Consider potential impacts of student loan debt cancellation, noting it typically applies to federal, not private, loans.
Tweetable Quotes
“While law school is an amazing journey that will undoubtedly take you places, it’s crucial to ensure that this intellectual pursuit aligns with wise financial decisions. Your legal degree is a powerful asset, but making smart choices with your money is equally important for a successful and fulfilling future in the legal profession.”