I'd so rather take the LSAT again than deal with this...but I've avoided it long enough.
My situation. I'm 30, haven't been declared on my parent's taxes in several years (I do have to check), but I'm back at home to save on rent until law school, have some of my own saving (not much, cause I was a poor grad student for quite a while), AND a very pretty chunk of change sitting in a CD in my name, thanks to my folks, but it matures in about three years, so it's not really liquid. As far as I understand it, this CD is considered in the assets. (I could be wrong, and kinda hope I am).
I used this http://www.ifap.ed.gov/IFAPWebApp/currentEFCInformationPag.jsp
to calculate my EFC, and my EFC is very close to the cost of a year of law school.
Now, this CD isn't something I'm planning on using to pay for law school. One, I can't get the money out without a penalty, two, I don't really think of it as *my* money, and three, even aside from the penalty, I think it might be wiser to let it keep getting interest rather than pay tutition outright.
So what I am wondering is what kind of loans does this leave me open for? Can I still get the 18.5K in Unsubsidized Stafford loans, making the rest up with private loans? Or does that 18.5K max only after EFCs?
Will this screw me out of any grant aid I might get from a school, which seems to be both merit and need based? (which I still have no idea if I have a chance for, since my GPA is low).
Thanks...I hope this makes sense.