BUDGETING FOR LAW SCHOOL

Plan ahead for a successful budget.  Be aware of your available resources. The decision to take on debt will affect your lifestyle during law school as well as the years that follow.  Many students are limited to the funds they receive with financial aid and have no savings or personal resources on which to fall back.  This will make your financial situation very difficult. 

To reduce the stress and aggravation often associated with being a student on financial aid, plan your own personal budget by charting your expenses. Keep a journal. If your expenses seem to leave you with minimal discretionary income, make adjustments accordingly.

• share expenses with a roommate
• take advantage of student discounts and coupons
• bring your lunch &/or snacks
• shop wisely/avoid impulse buying
• consider paying yourself a salary.  Each month deposit into your checking account enough money to cover your fixed expenses and keep the remainder of your savings or financial aid in a separate account.
• Pay your entire semesters rent with your financial aid refund

The amount of financial aid a student is eligible to receive is based on the 2011-2012 Financial Aid Budget/Cost of Education (COE). The 2012-2013 budget should be available in late April 2012.

University of Houston Law Center
Financial Aid & Scholarship Office
100 Law Center
Houston, Texas 77204-6060
(713) 743-2269
School code 003652
lawfinaid@uh.edu