Tuition, Fees, and the Student Budget
The University of Akron School of Law does not have a dedicated financial aid office. Rather, law students at The University of Akron are served by the Office of Student Financial Aid, which also serves undergraduate and graduate students. Law students and admitted applicants should address questions regarding loans directly to Student Financial aid and should work directly with that office in arranging for law school loan financing. Please contact Cora Moretta at 330.972.5374 or firstname.lastname@example.org with questions regarding your financial aid as a student at Akron Law.
In order to receive loans for law school, students must follow the proper application procedures and then decide how much loan money they wish to accept. The University of Akron Financial Aid Office has on its website a step-by-step outline of the loan application process. To ensure that the financial aid process goes smoothly, it is suggested that law students follow this step-by-step outline closely.
Federal Direct Subsidized and Unsubsidized Loans: Law students may borrow up to $20,500 per year through the federal Direct Loan program. In order to be considered for federal Direct Loans, students must complete the FAFSA. Note that The University of Akron's School Code for the FAFSA is 003123.
Grad PLUS and Alternative Loans: Law students may borrow beyond the $20,500 Federal Stafford Loan limit up to the maximum annual loan amount (as noted on the financial aid budget). Those funds would be secured as a Direct Grad PLUS loan (through the federal government) or an Alternative Loan (through a private lender). These loan programs are described in detail here.
Click here for a full comparison of these loan programs.
Maximum Financial Aid Budget: The amounts noted on the tuition and fees page reflect the maximum amount that a law student at The University of Akron School of Law may receive in all financial aid for the fall and spring semesters combined. Plan to borrow only what you need.
Debt Management: As the old saying goes, "If you live like a lawyer while you are in law school, you will live like a law student when you are a lawyer." Be a responsible consumer. Do not borrow any more money than is absolutely necessary to pay for tuition, fees, and books, and to maintain a healthy yet modest standard of living. Do not feel obligated to borrow up to the annual loan limit if you do not need the money - this will only lead to unnecessary debt and burdensome loan payments.
QUESTIONS regarding the status of your financial aid loans should be directed to Cora Moretta at 330.972.5374 or email@example.com. You may also contact the Office of Student Financial Aid at 330.972.7032 or 800.621.3847.
Debt and Credit
Some Alternative loans are granted based on levels of debt and credit rating. For information on debt and credit counseling, visit www.nfcc.org.
To find your FICO (Fair, Isaac & Co.) credit score, and for useful information about consumer credit, visit www.myfico.com.
A note regarding debt and Bar Exam clearance: The fiscal health of a law graduate as it relates to bar admission is a VERY REAL and VERY SERIOUS matter. Law students should take steps to clean up consumer debt before entering law school and to manage their consumer credit very conservatively and wisely during law school. It is fair to say that debt alone will not result in the Supreme Court denying permission to sit for the bar exam. However, debt coupled with poor decisions, or no plan to manage or eliminate the debt could create a question for the character and fitness committee of any given state bar admissions office and ultimately contribute to a decision to deny permission to sit for the bar exam.
Short-Term Emergency Loan Fund
The School of Law Dean's Office has an emergency loan fund to assist law students unexpectedly faced with pressing financial obligations. Interest-free loans are available from $25 up to $250 and are usually due to be repaid within four to eight weeks. To borrow, students must be in good academic standing and currently enrolled in the School of Law.
See the School of Law Receptionist in room 136 (the School of Law Dean's Office) for more information on Short-Term Emergency Loans.
Bar Exam Loans
Graduating law students often borrow money to finance bar exam registration costs, exam-related preparatory materials, and associated living expenses.