Personal Loans

Top rated personal loans

The Best Approach to Apply For Need-based or Merit-based Law Schools – Part 2

The Best Approach to Apply For Need-based or Merit-based Law Schools – Part 2

On our last entry over the weekend, we took an in-depth look at the different things that some law schools tend to require from potential applicants in order to accept them.

We focused first on need-based law schools that offer some form of financial aid or personal loans to families that are not in ideal financial standings. We discussed how, in order to offer this financial aid and personal loans, these law schools usually require a family’s financial information in order to determine the amount of financial help they will offer the student.

This time, let’s take a better look at how merit-based law schools behave hen it comes to providing help to applicants who want to avoid acquiring personal loans.

Merit-based Aid:

Merit-based law schools are usually overlooked by college applicants, mainly due to the fact that it generally doesn’t have a special application for it and because law schools always fail to highlight it. On the positive side, being given financial aid from a merit-based law school can greatly decrease its education costs and make put it far more in reach of parents, allowing them to avoid applying for a personal loan. This is why parents should focus on helping their children get the best and most interesting merit-based packages, since the rewards in the future will be substantial.

The main difference between need-based personal loans, merit-based ones is that with the latter, students that are granted financial aid grants and personal loan don’t need to repay them, nor their parents regardless of what type of job the student gets after graduating from law school.

Parent should know though, that some of the major law schools like Harvard, Stanford, Yale and others usually don’t offer significant merit-based financial aid or personal loans. Regardless, there are several other law schools that offer quite substantial amounts of financial aid that can range from around $10,000 a year to a full-on scholarship. Because of this, parents are encouraged to push their chidden to apply to as many merit-based law schools, specially those known to grant a lot of merit-based financial aid and personal loans.

What most of these law schools use in order to award any personal loans is to judge the strength of the applicant’s profile based on several factors, which is why one of the main duties of parents should be to allow their children to invest the necessary time and effort in preparing the qualitative details of their applications, like their resumes, essays and such.

In addition to that, applicants should also trying applying to not only private schools, but also to public ones, since there is a substantial number of public law schools that are extremely well-ranked and that offer great financial aids and personal loans.

Here is mother tip: Sometimes it can be a lot more cost efficient to go for an out-of-state public law school that offers great personal loans than to go for a private school with similar rankings but that will costs a lot more.

Also, parents and applicants should consider that, while quantitative factors count a lot when applying for merit-based law schools, other factors like a great personal story are also essential for a successful application and to obtain a nice financial aid or personal loan. Additionally, parents could also hire an admissions counselor that can give their children a lot of essential information for them to create the best possible application that can give them a great chance to receive a scholarship or a personal loan for their education.

That’s about it. Make sure to read also our previous entry to get a full scope of how to best apply to merit-based and need-based law schools and avoid applying for a personal loan.