How to Finance Your Education

Tuition and living expenses for the academic year are combined to create the student budget (tuition + living expenses = budget). The budget is also sometimes referred to as the cost of attendance. This helps students know the maximum amount they are going to need to finance their education at the University of Michigan Law School. It also sets the limit of financial aid that a student can receive for their period of enrollment. Financial aid cannot exceed the student budget. This includes merit-based aid, need-based aid, loans, outside scholarships, and employment at the University.

Most students will be able to live comfortably within the budget. In fact, we have many students who are able to live on less. We encourage our students to borrow as little as possible. As the old adage says, “if you live like a student now, you can live like a lawyer later” rather than “if you live like a lawyer now, you must live like a student later.” Students with additional medical or childcare expenses can contact our office for a possible increase in the student budget.

For more information on the different types of financial aid that you can apply for in order to finance your education, please see Forms of Aid on our website.