Financial aid starts with the standard cost of attendance (COA) for a student. The items listed below form the basis for what the Financial Aid Office can permit in overall financial aid, including student loans. The following budget is for the 2009-2010 academic year.
2009-2010 COSTS
Tuition
$46,332
Student Activity fee
200
University Facilities fee
698
Health Services fee
774
Student Health Insurance (may be waived with proof of comparable coverage)
1,638
Transcript fee (one-time charge)
95
TOTAL UNIVERSITY CHARGES
$49,737
Books
1,448
TOTAL EDUCATIONAL COSTS
$51,185
Living expenses for the 9-month 2009-2010 academic year are budgeted as follows:
Single Students
Married Students
Room
(includes Utilities)
$11,330
($1,259/mo)
$15,005
($1,667/mo)
Board
$4,860
$7,260
Personal
$3,625
$5,550
Total Living
$19,815
($2,202/mo)
$27,815
($3,090/mo)
Total Budget
$71,000*
$79,000
Additional Allowances:
Children:$5,000 allowance for first child; $4,000 each additional child.
*This is the Standard Cost of Attendance (COA), which is used to determine eligibility for federal aid (Stafford, Perkins, Work-Study and for LRAP). However, eligibility for credit-based educational loans can be based on a student's total budget, and may be adjusted as described below.
Living expenses are based on information from the Bureau of Labor Statistics and the Consumer Price Index for the New York area, and provide for a moderate standard of living for the nine-month academic year.
It is very important to plan carefully so that your funds will be sufficient for the entire academic year. Students needing to finance their entire cost of education must keep in mind that they will be living on a fixed income, and must establish their spending priorities accordingly. If you choose to spend more in one area, you will need to reduce your expenses in other areas. Additionally, most grant and loan funds are divided equally and disbursed at the beginning of each term but must cover educational expenses for several months. It is recommended that you prepay your major non-discretionary expenses for the term, such as tuition, fees, rent, or set aside adequate funds in a separate account to cover these costs for the entire term.
Students may encounter a number of expenses that are not covered by the standard COA — for example, the purchase of a personal computer or unreimbursed costs for medical emergencies. To cover such expenses, students may request to have their budget adjusted to allow for additional borrowing through credit-based educational loan programs. Requests must be submitted to the Financial Aid Office in writing, with receipts and supporting documentation included where applicable, and they will be considered on a case-by-case basis. Depending on the reason for the requested increase, students may be asked to submit a detailed financial budget as well.
Expenses that will not be considered for budget increases are payments for prior debts (credit card bills or other), summer expenses, and other discretionary expenditures (e.g., car, entertainment, other lifestyle expenses). Therefore, students who have high consumer debt or other financial obligations that cannot be deferred while they are in law school must carefully examine their ability to accommodate their needs to the student budget. We strongly recommend that students take all measures to reduce their consumer debt prior to beginning their studies.
Please note that the Loan Repayment Assistance Program (LRAP) will not cover any loans borrowed beyond the standard COA. For more information about LRAP, review the Loan Repayment Assistance Program (LRAP) section of this site for a detailed description.
