Budgeting

Planning and preparation are important to funding your legal education. Developing a realistic budget early on can help you navigate your financial life more smoothly and feel more confident about the state of your finances. Although your circumstances will likely change during your time in law school, we recommend thinking through all three years early on, and making adjustments annually as you get a better picture of your actual personal and financial situation.

Estimated Budget for Academic Year

Basic Expenses – Single, Domestic Student

On Campus (Osgoode Chambers)

Off Campus

At Home with Family

Tuition

$24,802.26

$24,802.26

$24,802.26

Ancillary Fees

$1,083.02

$1,083.02

$1,083.02

Books and Supplies

$900

$900

$900

Rent (including utilities)

$8,752

$11,712

$0

Phone

$720

$720

$720

Basic Cable

$224

$400

$0

Internet

$0

$560

$0

Food

$4,000

$4,000

$2,000

Health and Dental

$500

$500

$500

Transportation

$1,025

$1,025

$1,025

Other Costs (personal care, clothing, interest payments, travel home, entertainment etc.)

$2,800

$2,800

$2,800

TOTAL

$44,806.28

$48,502.28

$33,830.28

This is a rough guide only. Expenses will vary from student to student, especially for those with dependants and other unique personal circumstances.

Budgeting Tips

Separate Needs from Wants

Consider which are necessary expenditures and which you could do without. For example:

  • Could you share accommodation, or live with family to reduce costs?
  • Do you need a car or could you depend on public transportation?
  • Might you bring your lunch to school and avoid dining at restaurants?
  • Do you shop wisely and take advantage of lower prices and sales?

Consider All Available Resources

Be sure to tap all available sources of financial support. Review all the funding sources on this site to see what you’re eligible for.

Be Realistic

Don’t downplay expenses. It may seem daunting to list all your expected expenses for the next three years, but being as precise as you can will help you to prepare a realistic plan.

Take Advantage of Financial Help

Speak with professionals at your local financial institution to help you plan your finances. Contact the FSO to discuss your budget.

Review and Revise Your Budget Regularly

As you move through law school, your situation will no doubt change. Make sure to review your budget regularly to account for new or changed expenses, new sources of income or other resources (summer employment, bursary or scholarship funding etc.) and changes in your personal and family circumstances.