I thought about law school before I realized there are other options for post graduate study besides law school, med school, and b school.
Unless you've wanted to be a lawyer all your life and don't care about money, don't go. That's my advice.
By the way, the biglaw bubble has burst and will never recover. (Not that it's some great thing to be a slave to biglaw partners while you get paid $150k for $1MM worth of work). Lots of students at top schools(even top six like NYU) are struggling to find jobs to pay off their debts. Before 2008, going to a top 14 school meant a better than coin flip chance at biglaw. Like astrolad has said many times, the further you go down, the harder it gets to get the job you want. If you're considering going to a school that isn't in the top six and you have to take out more than $50K in loans(for all 3 years combined, not $50k per year) you would be making a very poor financial decision unless your dad or uncle is a biglaw partner.
When kids in the top 14 can't get biglaw, they go for the next tier of jobs, and as a result even non big law jobs become extremely competitive. Also, there is no such thing as "midlaw." The distribution of law salaries is bi-modal, with modes at around 40k and 160k.
WRT to the LSAT, the best thing to do is to get the powerscore books for whatever sections you don't already feel comfortable in. Hell, get all 3 books and read them cover to cover, and then take official preptests everyday for six weeks leading up to the test. That would be the best way to maximize your potential score. Oh, and get plenty of sleep too; all the LSAT dates are for 8am except for the June one which is at noon. I got a really good lsat score but took it on 3 hours of sleep and was pissed that I got a couple points lower than what I really thought I would get.
what kind of scholarships can you get going into law school? If I do really well on the LSAT would there be a chance of colleges seeking me out to attend their school and possibly giving a scholarship, or would I pretty much be doomed to pay for everything out of pocket (with loans) if I went the law school route?
Schools give plenty of merit scholarships based on how strong of an applicant you are, yes. LSAT and GPA are the most important things, but other things like undergrad prestige apply too, and don't forget to apply as early as possible. Pretty much every school has rolling admissions and gives preference to early applicants, but that doesn't mean you have to apply early decision. Just get the apps done and complete by Halloween, thanksgiving at the latest.
Re:UT vs GULC: Texas is a very good school if you want to stay in Texas. Georgetown is a school that pretty much admits based on numbers, has a million students, and probably has a lot of unemployed grads.