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Topics - yale08

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Financial Aid / Time off after undergrad and financial aid
« on: April 16, 2008, 07:21:39 PM »
I am a college senior planning to take two years off before law school to do consulting.  I haven't yet researched law school financial aid extensively, but I know that for my undergraduate financial aid, there was in some sense a disincentive to save money before college.  The more that one had saved up, the more he would be expected to contribute. 

I have 12k in debt from undergrad that I will begin paying six months after graduation.  Almost all of that amount is subsidized, and I don't have to pay interest on it while I am in law school. 

What is the best way to handle finances between now in law school?  It seems that it would be smarter to invest what money I can save over the next two years and still take on a higher amount of law school debt.  Is this sensible?  Is money saved in 401(k) plans or in IRAs assessed in determining financial aid eligibility?  Or would it be smarter to pay what I can up front and have less debt (though this amount will not be very much relative to the cost of law school).

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