Examine Your Spending Habits
For many individuals, the start of law school represents a transition from working full-time to being a full-time student. That transition should result in an examination of one's living expenses. As mentioned in the Student Expense Budgets section, the allowances for living expenses are quite moderate. This generally mandates that students examine their spending habits and resolve to eliminate consumer debt items (credit cards, car expenses, etc.) so that they may live within the budget.

Review Your Credit Record
Many students will look towards supplemental loan programs to assist in meeting their educational costs. These loan programs are based upon the credit worthiness of the borrower - and generally, that is the student. As such, it is important that applicants' credit histories are clean. Here are some steps you can take to improve your credit record:

  • Make payments on time, and make at least the minimum monthly payments.
  • Limit the number of credit accounts you have, your total available credit, and how much of the available credit you use.
  • Request a copy of your credit report once a year. This way, you can clear up any errors that may appear on your report.

Applicants who are unsure of their history should contact one of the national credit bureaus to obtain a copy of their credit report. The three main credit bureaus include: Experian, Equifax and Trans-Union.

If you have had credit difficulties, remember that it takes time to rebuild good credit. You must demonstrate responsible credit behavior.