How the New Student Loan Rules Are Reshaping Law School Financial Aid

In this episode of Status Check with Spivey, Anna Hicks-Jaco is joined by three experienced law school financial aid professionals: Dalmarie Lawrence, Director of Financial Aid at the University of the District of Columbia School of Law; Montré Everett, Director of Financial Aid at UC Davis School of Law; and Matt Wakeman, Assistant Dean of Financial Aid at the University of Virginia School of Law.Together, they discuss how the student loan changes included in the One Big Beautiful Bill Act are affecting current and prospective law students, particularly following the elimination of Grad PLUS loans and the introduction of new federal borrowing limits.The group explains what has changed for incoming law students, how part-time students may be affected, and why simply lowering law school tuition may be more complicated than it sounds. They also discuss how law schools are responding through scholarships, institutional aid, tuition freezes, loan repayment assistance programs, and other resources designed to help students manage the cost of attendance.The conversation also covers how applicants can use ABA 509 reports to evaluate scholarship opportunities and identify financial safety schools, what students should know about private student loans, and how credit history and cosigners may affect their ability to borrow. The guests also explain why private loans may sometimes offer lower interest rates than federal loans, while emphasizing the risks they may create for students pursuing public service careers and Public Service Loan Forgiveness.Additional topics include financial aid considerations for veterans and military dependents, the impact of the new rules on transfer and dual-degree students, the importance of borrowing only what is necessary, and practical strategies for reducing law school expenses through scholarships, budgeting, and early communication with financial aid offices.You can listen and subscribe to Status Check with Spivey on ⁠⁠Apple Podcasts⁠⁠, Spotify⁠⁠, and ⁠⁠YouTube⁠⁠. You can read a full transcript of this episode with timestamps here.