How to take charge of your finances

With the economy waning, a law school education is even tougher to budget than before. Popular ways to pay for law school include scholarships, school financial aid, and student loans; the trick is finding the right combination.

Reducing your debt can be achieved through thorough assessment of your situation, according to Marc Berman, director of financial assistance at Thomas Jefferson School of Law. Once you pick a financing plan that suits your circumstances, careful budgeting is necessary in order to avoid tremendous debt from law school loans.

“It’s important to live within your means and understand that you have likely paid for your education with some of your current earnings,” according to Heather Jarvis from Equal Justice Works. “Everyone is more concerned about whether they can afford a particular purchase, and a law school education is expensive.”

For more tips on minimizing law school debt, read the March issue of The National Jurist here: