Overcoming Financial Issues in Applying for Clerkships S p o n s o - - PowerPoint PPT Presentation

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O F F I CE O F CA R E E R S E R V I CE S S TU D E N T F I N A N CI A L S E R V I CE S S U P E R O L A W S TU D E N TS A S S O CI A TI O N

Overcoming Financial Issues in Applying for Clerkships

 Hiring tends to happen in waves:

 Applicants may begin submitting applications as soon as 1L

spring grades are released.

 Earliest wave of judges may hire rising 2Ls in late June and

early July.

 Hiring will continue through the summer and fall.  Another wave of judges tends to wait until 2L fall grades are

released.

 Positions for the year after graduation can remain available

through students’ 3L year.

 Hiring is unpredictable. It is difficult for students to

predict when they will incur costs.

Timeline of Clerkship Applications

 Expenses related to the clerkship application process

include:

 Printing paper applications;  Mailing hard copy applications;  Formal professional attire;  Travel to interviews;  Lodging;  Transportation within interview city;  Food throughout interview travel.

 Expenses can vary greatly depending on a student’s

applications, judges’ timelines and hiring policies, holiday pricing of travel and lodging, and other factors. Because of this, it is hard to determine how much the process will cost any one applicant.

Clerkship Application Expenses

 Travel to interviews is typically the largest cost.

 Costs of Each Interview

• Average: $418 .56
• Regional Averages:
• EAST: $262.56
• MIDWEST: $555.92
• SOUTH/ SOUTHWEST: $572.86
• WEST: $780.66

 On average, students w ill have 2-3 interview s. How ever,

the reported range is from 0-10.

Cost of Clerkship Interviews

 Students reported total costs of clerkship

applications ranging from $10 to $4500.

The average reported cost is approximately

$1100.

The median reported cost is approximately

$750.

Total Costs of Clerkship Applications

 Plan for an average amount of costs  Save in advance if possible

 Reduce living expenses during academic year to save  Can save funds from summer employment (depending on how

much income you earn)

 Use existing savings

 If not able to save in advance, or if costs exceed

savings, can request borrowing increase

Planning for Clerkship Application Costs

Caps on Clerkship Expense Appeals

 $1,200 per academic year and $2,400 total J.D. limit

• n borrowing increases for clerkship expenses

 Appeals are generally for reimbursement only

 SFS strongly recommends that students request increase for

total clerkships expenses once per year

 SFS will consider “advance” borrowing increases on request

(e.g. if student not able to cover expenses up-front due to high financial need) and must receive documentation of expenses

 Expenses incurred in summer will be reimbursed in Fall term

Eligible Clerkship Appeal Expenses

 Expenses are eligible for borrowing increase only;

this borrowing will be LIPP eligible

 Expenses requiring documentation (receipts)

 Major travel expenses (airfare, train)  Hotel/ lodging expenses

 Documentation (receipts) not required

 Local transportation (bus, cab/ ride share, public transport)  Meals  Printing (cover letters and resumes) and postage

Process to Request Borrowing Increase

 Student completes online appeal form

 On form, student will “self certify” amount of expenses not

requiring documentation

 Student also itemizes expenses requiring documentation  Student submits documentation (if required) to Student

Financial Services to complete appeal

 Student Financial Services reviews appeal, adjusts

student budget for allowed expenses, and notifies student of budget adjustment

 Student applies for loan to cover amount of expenses  Once loan processed, SFS will release funds to

student (if current billing balance due allows)

Professional Attire Allowance

 Up to $500 one-time budget increase toward the

cost of professional attire

 Eligible for borrowing increase only; this borrowing

will be LIPP eligible

 Process

 Student submits Appeal form  No documentation required; student will “self-certify”

expenses on Appeal form

 Otherwise similar to Clerkship expense appeal process

Other Comments, Tips, and Questions

 Ken  Liv  Mario  Kirsten  Questions?