Notre Dame Law School hosted its second annual Financial Wellness Week from March 14 to 18 on important financial education topics most relevant to law students.
The programming, hosted in coordination with AccessLex, provided presentations on several law student specific financial topics, including:
- Funding Your Bar Exam Experience
- Five Habits of Financially Successful Lawyers
- Credit and Debt Management for Bar Admission
- The Road to Zero: A Strategic Approach to Loan Repayment
Financial Wellness Week and the Law School’s partnership with AccessLex, a nonprofit organization dedicated to law students, provides transparency and guidance to students as they make important financial and loan decisions during and after law school.
AccessLex offers free on-campus and online loan repayment and financial education programming and resources to help students confidently manage their finances. The MAX program combines online and virtual programming, in-person workshops, and one-on-one counseling. The curriculum is designed specifically for all three years of law school and meets students where they are in their financial planning process. There is no charge to the student for any of the MAX programming or coaching and it can be done at the student’s convenience.
In addition, the MAX program provides free, unbiased, one-on-one coaching services with an accredited financial counselor. Students can meet anytime with a counselor in person or online to go over their specific questions, situation, and loan.
The first-year lessons include topics such as personal budgeting, establishing credit, and planning for summer expenses. Second-year lessons cover the financial aspects of future career decisions, taxes and benefits, bar prep expenses, and strategies for budgeting for taking the bar. During the third year, lessons include how to start investing, debt to income ratio, how loans affect large purchases like cars and homes, and plotting a strategy for loan repayment.
By participating in the program students can earn free money. AccessLex holds scholarship drawings every semester for students who have completed activities on the MAX platform and who have attended virtual or in-person seminars or webinars.
Third-year law student Naomi Price recently won a $5,000 scholarship for participating in the program during the month of February.
“As a first-generation law student, navigating the financial pressures of law school was scary. The student loan process was new for me, but luckily AccessLex came to my law school to raise awareness about their resources,” Price said. “Ever since, I have been using MAX and the personal finance program to get standardized and personalized advice. The AccessLex scholarship will help me alleviate the pressures of law school and further strategize my finances.”
This is the third year that a ND Law student has won a $5,000 AccessLex scholarship.
AccessLex’s largest scholarship drawing for all MAX users is in April. Students are encouraged to complete their lessons by April 1 to enter. Students who have not signed up can sign up for MAX here. AccessLex will give away two $25,000 and one $40,000 scholarships for each class level (1Ls, 2Ls, 3Ls).