Consolidating Educational Loans after Law School

QUESTION:

With graduation coming up soon for many of us and the repayment of loans occurring shortly after that, I was wondering if you had any information on loan consolidation and how to negotiate down loan interest rates. I've done some preliminary research, and a lot of the information I've found simply lowers the interest rate over extended periods of time. However, I am interested in finding out if I can (1) consolidate my law school loan, then (2) negotiate a lower interest rate over a shorter time period. I also want to make sure that I maintain the option for advance payment without a penalty.

Your question about Loan Repayment Options was directed UALR’S Financial Aid Director. Her response is below.

ANSWER:
I am not aware of any options in the federal student loan programs to "negotiate" an interest rate. The interest rate is set in federal law.

Over the past several years, new payment options have been introduced primarily to assist students by lowering monthly payments and increasing the repayment period. If the student navigates to http://studentloans.gov there is a section on the bottom right about managing repayment. The student can drill down in that information to learn about loan consolidation http://studentaid.ed.gov/PORTALSWebApp/students/english/consolidation.jsp?tab=repaying

University of Arkansas at Little Rock | Office of Admissions and Financial Aid
O: 501.569.3035 | F: 501.569.8956 | http://www.ualr.edu/admissions

OCI Job Offers / Good Questions for the Interview

QUESTION:

How will students be notified by OCI employers about whether or not they have been selected for a clerking position? Or is there a certain date after which if we have not heard from any employers we should assume we did not get any clerk positions and continue searching for employment elsewhere (or sign up for summer classes, etc.)?

ANSWER:
These former are legitimate questions you should ask each interviewer. Employers all operate differently and from year-to-year even that might change! Career Services asks that they give you all two weeks of interviewing before requiring AN ANSWER to an offer. A couple of them might make immediate offers while others will wait until they've interviewed at Fayetteville and considered applicants from any other schools they work with. Phone calls are the usual for offers and letters for non-offers. We continue to have students who hear nothing from the employer either way, unfortunately. Be sure to ask in the interview when and how should you expect to hear from them.

Don't stop your search of other employers waiting on OCI employers to respond! The job market is tight, but even before that happened, many employers were seeking law clerks with more than one year of law school to their credit. Remember, smaller employers are more numerous and the experience with a small firm is a good one to have.

DK

The Job Interview: BE PREPARED!

With on-campus interviews starting in just a few days, make sure you spend adequate time preparing. The article linked below echos comments from the Career Services staff, our mock interviewers and the most sage advice found in the purple Career Services Handbook. We thought we'd pass it along for all students to enjoy.

http://lawyerist.com/be-prepared-for-job-interviews/