Federal Student Loan Consolidation

Now is the time to consolidate your federal student loans with Law School Loans. We know better than anyone else how to help law students and attorneys take advantage of this free government program that has no fees, no prepayment penalties, and requires no credit check. It will allow you to

— Get a fixed interest rate as low as 5.375% for the life of your loans, saving you thousands of dollars
— Combine your loans into one easy payment
— Reduce monthly payments by up to 50%

See for yourself. Use our savings calculator to do the math.

College Student Relief Act of 2007

The most recent midterm elections shifted Congressional power to the Democrats, and since this shift, there has been much focus on the cost of higher education. The Democratic Party’s strategy is to move quickly and begin implementing its agenda during the first 100 hours of the 110th Congress. It’s expected that within the first week, Democrats will propose the College Student Relief Act of 2007.

The issue of college graduates accumulating insurmountable debt—if they can afford to pursue higher education at all—has been worsening every year. The objective of the College Student Relief Act of 2007 is to cut interest rates on student loans by 50%. This reprieve alone would save millions of students thousands of dollars.

Federal Grants To Increase?

Federal Grants To Increase?
Financially strapped students will find a bit of good news in a new budget that proposes the first substantial increase to federal grants in years.

The 2007 Labor, Health and Human Services and Education Appropriations Bill includes a proposal to increase Pell Grants by $100 to $4,150. This increase is the largest to come in more than five years; the grant maximum amount has never been higher.

The $141.93 billion budget exceeds what the President had in mind by $4.136 billion. It also calls for $47 million in scholarships for disadvantaged students; President Bush had only wanted to use $10 million for this purpose.

Federal Student Loans vs. Private Student Loans

These days, there are very few students who can afford to pay for college without some form of education financing. Two-thirds of undergraduate students have some debt, and 88% of law students need to borrow to finance their education. Law school students may graduate with an average of $80,000 in student loans. Typically, law school students have acquired both federal and private debt, but what are the differences between these types of loans? And is one better than the other? Read on for an explanation of both categories of student loans.

Many students rely on federal student loans to help finance their education. The most common federal loan is a Stafford Loan. These may be issued directly from the government to the student, or they may be issued by a private lender, such as a bank or credit union, belonging to the Federal Family Education Loan Program (FFELP). Either way, these loans are guaranteed against default by the federal government.

Firms Promote Diversity through Scholarships

With diversity in the workplace becoming an increasingly desirable goal, law firms are taking an active approach, offering minority scholarships to high school and law school students.

“A combined lack of funds, guidance, and opportunities can cause law school to seem like a pipe dream for minorities,” the Minority Corporate Counsel Association said in a statement on its website. “Without incentives to interest minority students in the vocation, scholarships to fund law school, mentors to open eyes to the various areas within the field, and internship and employment opportunities—all of which various scholarship programs normally offer—ethnic diversity among law students stagnates.”

Benefits of Federal Loan Consolidation with Law School Loans

Use this menu to find out more about the benefits of federal loan consolidation with Law School Loans.

Special Law School Loans Borrower Benefits:

Platinum Counsel: 0.25% interest rate reduction
Platinum Counsel Select: additional 1% interest rate reduction
Additional Federal Loan Consolidation Benefits:
Fixed rates as low as 5.375%
Extended repayment term with lower monthly payments
No fees
No credit checks
No prepayment penalties
Seven flexible repayment plans
Turn several monthly payments into one
Deferment and forbearance available

Private Loans for Every Situation

Whether you are a first-year law student or a well-established attorney, Law School Loans has a private loan program to fit your needs. Because we only deal with law students and attorneys, we have a specialized view of the financial requirements of our clients. Our private loan applications are easily completed over the phone, and you will know right away if you are approved. We are dedicated to helping you with your private education loans, private loan consolidations, bar loans, and even small business loans.

Let’s face it, completing law school may be an expensive undertaking, and federal student loans usually are not sufficient to cover all of your tuition, housing, and living expenses. Our law school tuition loans are designed to help fill in the gaps so you can concentrate on your education, instead of worrying about how to pay your rent.

Tip For Private Student Loan

Private student loan are a smart way to finance a college education with the benefits of competitive interest rates and deferred payment plans, usually based upon credit worthiness, with proof of income required. For the borrower who is self-employed, being in business for at least 2 years is necessary for approval. Borrower must be a U.S. citizen or permanent resident in order to qualify. Foreign students applying for a private student loan may need a co-signor who is a U.S. citizen or permanent resident. There is a maximum amount that can be borrowed. This financial aid will not be taken into consideration regarding approval and the amount of financial aid received will not affect the amount to be loaned.

Scholarships for Unusual Talents

Shaquille O’Neal earned a basketball scholarship to Louisiana State University. The 2005 Nobel Prize Winner in physics, John L. Hall, won a science scholarship to Carnegie Mellon University. But you don’t have to be a basketball star or science wiz to win money for college. Scholarships designed for students with unique talents can help fund your degree.

Skateboarding
Do you know what an Ollie is? Can you do a 50-50 grind, kickflip or nose wheelie? If you answered yes to any of those questions, you may be eligible for the Patrick Kerr Skateboard Scholarship. Applicants for this award must submit an essay on how skateboarding has had a positive impact on their lives. One scholarship winner receives $5,000 and three winners receive $1,000 each to attend the college of their choice as full-time students.

Develop Your Scholarship Game Plan

To mount an effective scholarship campaign, the first thing you need is a winning game plan. Start by implementing the following four key action strategies.

1. Plan to apply for as many scholarships as possible
Some students make the mistake of thinking that they maximize their chances of winning by pouring all of their energy into one or two scholarships.

But applying for scholarships is partially a numbers game. A variety of factors outside of your control affect the outcome of any given award. Only by applying for large numbers of scholarships can you minimize such factors, and maximize your chances of winning. In my own scholarship quest, I ended up applying for about three dozen awards.