Law School Discussion

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Messages - Kait

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41
I think this is how it works:

1) Complete the FAFSA and receive your Student Aid Report with your EFC.

2) Calculate: School's annual budget - EFC = eligibility for aid.


So, with an annual budget of $40,000 and an EFC of $10,000

$40,000 - $10,000 = $30,000

You are eligible for $30,000 in financial aid.

The first place to go for aid is always the government - ie. Stafford loans. There are two types - subsidized [the gov't pays your interest while you are in school] and unsubsidized [you pay your interest while in school - you can get this deferred until you graduate, though]. The max any student can get in Stafford loans is $18,500 ($8,500 is subsidized and $10,000 is unsubsidized).

3) Eligibility for aid - government aid (Stafford loans) = private loan eligibility

So, $30,000 - $18,500 = $11,500

You are eligible for $11,500 in private loans.

4) Apply for Stafford loans.

5) Apply for private loans.


The main confusing part for me was that my FAFSA and school financial aid applications were not actually applying for aid. Those applications are simply to determine eligibility for aid. Once that is determined, you still have to apply for the aid for which you are eligible. At some schools, after they have received your FAFSA info. and financial aid app., they will send you an award letter indicating eligibility and also including forms to begin applying for the loans for which you are eligible. (Often with detailed instructions). At other schools, the financial aid apps have a spot where you can check off and the school will initiate the loans (Stafford or private) for you upon receipt of your FAFSA and financial aid app (if you are eligible).

42
Personal Statement / Re: Syracuse stmnt
« on: January 29, 2005, 07:39:04 PM »
I applied to Syracuse and basically took the instructions to mean as long as necessary to get my point across (without droning). Since my other apps specified that they were looking for two pages, I just stuck with that for Syracuse. So....two pages double spaced is what they got from me.

43
Where should I go next fall? / Re: EFC . . . aaargh!
« on: January 27, 2005, 12:25:47 AM »
I'm confused. On the FAFSA it says that since I'm going for a JD I don't have to include my parent's info. However, some schools require it. If the schools require it and I don't include it on the FAFSA, does that mean that they will just request the parental info they require on their own school-specific financial aid apps?

Should I exclude my parent's info on my FAFSA? (I'm 21...definitely still claimed as an exemption.)

Also, if I worked in 2004, how do those earnings affect my EFC since I will not be working at all during 1L?

Financial aid is much more complicated than I realized.

44
Acceptances / Re: Villanova
« on: January 24, 2005, 04:53:24 PM »
Thanks for the response. Interesting that Vill does that...

45
Acceptances / Re: Villanova
« on: January 24, 2005, 04:45:05 PM »
For those of you whose decision was sent to your permanent address, did you indicate that your current address should be used until a certain date that has already passed? Or did Villanova just decide to send it to your permanent address?

I'm asking because I assumed my decision would come to my current address and I'd really rather it not show up at my parent's home (permanent address) where I'd have to travel to get it or have them open it over the phone.

46
I mailed my app Dec. 14th. I received the postcard that I included with the app. on Dec. 23rd - the postcard was stamped with the date of receipt as Dec. 18th. No further word, though. And no request.

47
All my reports have long been requested with the exception of Villanova. Anyone notice that Villanova takes awhile, or should I get in touch?


48
Law School Applications / LSN - Representative Sample of Applicant Pool?
« on: January 24, 2005, 01:45:43 PM »
Just wondering what everyone's opinion on LSN is...do you think that the span of numbers on there is pretty indicative of what kind of stats the general applicant pool has for the given school? Or do you think that the people listing on this site, if their numbers were averaged, would yield a higher average than that of the entire applicant pool? (I'm basing this on the assumption that maybe LSN posters are a little more concerned and over-zealous than some other applicants who have not sought out such a sight.)

Just wondering.

49
Law School Applications / Re: Anyone submitted financial aid info yet?
« on: January 19, 2005, 04:22:54 PM »
For those of you who know, can anyone give me a general overview of the financial aid process from beginning to end? I am very confused because I have never done this before.

This is what I know - I fill out the FAFSA and receive my SAR with my EFC. This is also sent to my schools. I also fill out the school-specific forms. Then, based on all this info, the schools determine financial aid packages by calculating the difference between the estimated budget and the EFC? Do most people get that calculated amount from the schools? Or do they get some from the schools, then try to get the rest in Stafford loans? Or is this the other way around?

Sorry - I'm really confused...any help would be great!

50
Where should I go next fall? / Re: How big of a mistake was this?
« on: January 15, 2005, 03:56:40 PM »

Yeah I got a phone call from Franklin Pierce and the woman was like "I'm looking at your file, and we've got this email from you and were wondering...". It kinda wigged me out.

Yeah. I can just imagine the proof-reading on my next email to a school!

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