I know that I'm ignorant but..

[peppers1982]

I just had a quick question regarding loans. I currently have $18,500 from FAFSA per year for law school. The law school that I'm attending estimates that it will cost around $25,000 per year. This includes transportation and miscellaneous expenses. I figure that this is probably somewhat close (at least w/in $5 k of what it will actually be). Where can I get this extra $10,000 or so per year that I'll need in loans? Is it purely from private loans organizations? Which ones have you guys/girls found  to be the best? Can FAFSA offer any more? Again, I know that these are broad, ignorant questions so humor me. Thanks for any help!

[Law2k6]

Basically, you can get either the brand new Graduate PLUS loan, which is a government backed loan program like unto the Stafford loan program, or you can get private loans.

See the these threads:
http://www.lawschooldiscussion.org/prelaw/index.php/topic,59307.0.html
http://www.lawschooldiscussion.org/prelaw/index.php/topic,60064.0.html

[SapientiaEstPotentia]

Ok, so I got my credit score as of today and now I’m wondering what will happen to my credit score as soon as I take out the Federal unsubsidized/subsidized, and or Private loans, and the half baked GradPLUS loan. Will my credit score drop after three years of loans?  Go Trojans!

[SapientiaEstPotentia]

bump

[SapientiaEstPotentia]

where's the aid?



Bump

[SapientiaEstPotentia]

Spoke with the Citi-Assist Loan people and they finally answered my question. It seems that law students credit scores are affected by the amount of money they borrow for law school. It all boils down to the debt-to-credit ratio thing. There goes my excellent credit score. Asta La vista baby!!!

[SapientiaEstPotentia]

I just heard that a cop got shot near the usc campus. That sucks!

[fry_lord]

I'm unclear on exactly how Grad Plus loans work.  When do we apply for these loans?  Do we wait for information from the school we're going to?  Wouldn't I be taking a risk if I keep waiting for info. on the grad loan plus???  Should I apply for private funding now just in case?

Also, what's the deal with Stafford loans?  Once I return the forms accepting them from my college do I then apply for them from a private bank or does my school handle this??

I'm REALLY ignorant........thanks.

[SapientiaEstPotentia]

Go for the GRADPlus loan. You get to borrow money at a reasonable interest rate and you do the patriotic thing by allowing Uncle Sam to earn the Proceeds. Our Federal Government needs all the help it can get from us. Your help starts with such actions. 
 

[chonralda]

hahahah amen SapientiaEstPotentia!