|
Scholarship Assistance
Borrowing money in this economic climate and contemplating the possibility of more debt is not something that delights our applicants. Please be assured, however, that you are in good company - 80% of Cumberland students receive some form of financial assistance, and you have very helpful financing options available to you. By completing your Free Application for Federal Student Aid or “FAFSA” form, you are eligible to receive Stafford law school loans from the federal government in the amount of $20,500. To cover the rest of the cost of attendance, our students obtain the Graduate Plus Loan, which covers the full cost of your Cumberland education minus any other financial aid you receive. With these two federal loans, you will be able to cover the full cost to attend Cumberland. The best advice I can give you is to complete your FAFSA form well before the deadline and find a co-signer willing to help you get the best interest rate possible when it comes time to take out your loans. Then, create a budget and stick to it, living as frugally as possible. As the adage says: “If you ‘live it up’ now, you’ll have to live like a student later.” I wish someone would have told me to take out the bare minimum in loan money. I always thought I would need more of a “cushion” when I was managing my financial aid, so I always took out a little more than necessary each year. As it turns out, I was able to live according to my means and later qualified for some Cumberland scholarship assistance, so taking out those additional loan funds, however minimal, was unnecessary and only lead to a larger amount to repay later. In terms of scholarship opportunity at Cumberland, the law school awarded more than two million dollars in scholarship assistance to certain entering and current students last year alone. Scholarship awards are based on a variety of criteria, from overall outstanding scholarship, leadership, academic achievement, and diversity to various alumni-sponsored awards. Awards for selected entering students range from partial assistance all the way up to full tuition plus books plus a one-time stipend of $5000. The best part is that all you have to do to be considered for a part of the two million plus dollars is gain admission to Cumberland. All admitted applicants are considered for scholarship eligibility; there are no additional forms to be filled out or submissions to be made. There are also a wide variety of outside sources to which one can apply for scholarships and grants. |
Christy Lynn Sherbrook, Esq.