Law School Discussion

What a pain (in the wallet)

SummerTimeChills

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What a pain (in the wallet)
« on: June 22, 2009, 10:38:21 AM »
I've known since early spring that if I was accepted at Bama, I would attend. I applied, was accepted, and received a scholarship that would essentially pay tuition (but it's a dollar amount; not a tuition waiver.)

So.. of course... crappy economy and all... Tuition is going up 9.4% - $1880 a year for law students.

Maybe it's me, but this is NOT a small amount of money, so here's my question:

The school has not posted this fall's cost of attendance. I'm quite sure they will adjust it for the tuition increase (how could they not?) My financial aid package already includes the scholarship, as well as maxing out Stafford loans, both subsidized and unsubsidized. Will I receive a new updated package that includes, say, GradPlus loans or something to cover the increase in tuition?

Thanks y'all!

Re: What a pain (in the wallet)
« Reply #1 on: June 22, 2009, 11:19:33 AM »
I have to say, as a general response to your post, that I detest the fact that tuition is going up.  I know the economy sucks, but it sucks for students too.  Sorry, it's just my own personal pet peeve :)

For your situation, you should be receiving a financial aid package that covers the cost of attendance for you for the 2009-10 school year.  If the number changed after your aid package was awarded, the fin aid office should revise your award.  If you're nervous about it, I strongly recommend you call the financial aid office to follow up with them.  You should be eligible for a GradPlus loan to cover the amount not covered in scholarship and Stafford loans.

Re: What a pain (in the wallet)
« Reply #2 on: June 22, 2009, 11:39:04 AM »
I have to say, as a general response to your post, that I detest the fact that tuition is going up.  I know the economy sucks, but it sucks for students too.  Sorry, it's just my own personal pet peeve :)

It actually makes very poor sense for tuition costs to go up.  Since September, the US economy has been operating in a deflationary state.  Thus, as the market basket gets cheaper for individuals across the board, they can charge others less for the same goods and services.  Price adjustments should take place in order to correct for higher costs of doing business, but during deflation, this isn't occurring.  Incidentally, schools are (generally) raising tuition in order to help meet budget shortfalls faced by the state that limit state funding to state institutions.

Either that, or, 'Bama is finally having to pay for all those iTunes gift cards they gave out with fee waivers.  ;)

'blueskies

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Re: What a pain (in the wallet)
« Reply #3 on: June 22, 2009, 11:45:18 AM »
If you have a scholarship covering your tuition, except the $1880, and have maxed out your stafford loans, $20,500 (?), exactly how much more do you need? Just the $1880?

Re: What a pain (in the wallet)
« Reply #4 on: June 22, 2009, 11:56:01 AM »
So what's the excuse for private schools. >:(

Inexcusable.

SummerTimeChills

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Re: What a pain (in the wallet)
« Reply #5 on: June 22, 2009, 06:10:06 PM »
If you have a scholarship covering your tuition, except the $1880, and have maxed out your stafford loans, $20,500 (?), exactly how much more do you need? Just the $1880?


I had hoped to avoid taking out GradPlus loans, but as I have a child in day care, I probably would have been stuck doing it anyway. (Financial aid will add to COL with day care documentation.) With the increase in tuition, I'll have no choice but to take out more in loans. $1880 is a *lot* for a divorced single mother with no savings or resources, even when the ex does manage to send a check.

No matter. Just have to adjust is all.  8)

'blueskies

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Re: What a pain (in the wallet)
« Reply #6 on: June 22, 2009, 06:19:02 PM »
I'm not arguing that $1880 isn't a lot of money (for you or anyone else), but more that $20,500 could be a lot for living expenses depending on the COL of where you're living.  Did you make up your own budget for your living expenses?  Could you be spending less than what they are allowing you for the Stafford loans?

SummerTimeChills

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Re: What a pain (in the wallet)
« Reply #7 on: June 22, 2009, 07:08:03 PM »
I'm not arguing that $1880 isn't a lot of money (for you or anyone else), but more that $20,500 could be a lot for living expenses depending on the COL of where you're living.  Did you make up your own budget for your living expenses?  Could you be spending less than what they are allowing you for the Stafford loans?

I am definately hoping to spend far less. The $450-500 a month in child care is a real killer, plus gas every other weekend to drive to Montgomery and back (long story). Fortunately, next year he'll be starting kindergarten, so 2L and 3L should be far easier to get by.

I found the article on the tuition increase this weekend while trying to come up with as realistic a budget as I can possibly can with so many unknowns. I'll be staying at my about-to-be-minimum-wage-when-it-goes-up-in-July job (runner for a firm in Montgomery) until refunds are issued (hopefully the weekend before orientation) so I can make deposits and such.

As though starting law school wasn't going to be stressful enough.  ::)

Re: What a pain (in the wallet)
« Reply #8 on: June 22, 2009, 10:59:07 PM »
Have you tried talking to the school to see if they can find a bit extra in scholarship money for you?  I know there's probably a tight budget at the school and all, but perhaps writing a really nice note talking about the scholarship as it related to the tuition numbers and why it's important to you would encourage them to give you more money.  The worst that could happen is that they say no, but that's a chance I'd take :)