Driven by a decision to hold tuition constant and increase scholarships 101 percent over the last four years, the average level of indebtedness of the class of 2015 declined from the level of the class of 2014 and the class of 2013.
The average indebtedness of Colorado Law graduates who borrowed fell by 8 percent, from around $116,000 for the classes of 2013 and 2014 to $107,080 for the class of 2015.
鈥淚t is no secret that, over the last decade, the average amount of debt incurred by law students nationally has ballooned. At Colorado Law, we are doing all we can to make law school affordable as well as to raise the value of the Colorado Law experience,鈥� said Dean Phil Weiser.
At Colorado Law, 75 percent of students receive scholarships, with the median scholarship amount per recipient around $11,000 each year. Students appreciate this level of support鈥攊n June 2015, Colorado Law was nationally for its financial aid offerings, reported Business Insider.
Joely Denkinger (鈥�16), a 3L law student whose decision to attend law school was greatly influenced by the financial aid options available, is an example of a student who is directly benefitting from the commitment to making law school reasonably affordable. She said the scholarships she received from Colorado Law alleviated some of the pressure she felt about long-term finances after law school, allowing her to concentrate on academics and to explore several different career options, without solely focusing on income to pay back her loans.
鈥淭he generous scholarships I received have played a huge role in the choices I鈥檝e made, from whether to attend law school at all, to which school was right for me, to the career I want to pursue once I graduate,鈥� she said. 鈥淭hanks to financial aid, my career decisions are not driven primarily by financial concerns. I feel a sense of freedom to pursue different types of careers because I don鈥檛 feel constrained to search only for a six-figure-salary position. My sincere thanks go to all those who support Colorado Law and its fantastic scholarship program.鈥澛�
In addition to scholarship support, Colorado Law also offers partial loan repayment assistance for graduates in public service who work in underserved areas.
To learn more about Colorado Law鈥檚 financial aid, including scholarship and the Loan Repayment Assistance Program (LRAP), please visit www.colorado.edu/law/admissions/financialaid.