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Messages - ErinKG

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Financial Aid / Received non-certified loan
« on: August 01, 2005, 07:01:51 PM »
I just wanted to post that I just received my $30k non-certified loan funds today from BofA. I applied a few weeks ago with a cosigner (my husband) and was approved after a few days (DH has a fraud alert on his credit reports so it slowed the process down a bit). I kind of sat on the application for a week or so and faxed it in early last week with my tuition bill and DH's paycheck. They disbursed the funds on Friday and I received the check today. Very, very fast turnaround. If you need extra money on top of your certified loans (or you need money prior to classes starting), this is definitely the way to go. I have heard horror stories about Bank One making the check out to the school, giving applicants a hard time about proof of enrollment, etc. I didn't run into any of that with BofA.

Oh, and I received the full $30k - the fees (6.5% - ouch!) are added on to the total owed.


Incoming 1Ls / Re: A serious question for my fellow busty LSDers...
« on: July 14, 2005, 04:02:44 PM »
I don't think you're going to find a store that sells clothes off the rack that will fit right. If I were in your situation, I would consider shopping at places like Nordstrom, Banana Republic, etc. that offer alterations or finding a good local seamstress. My friend is very tall with very long arms and has to have almost all of her clothes altered. It isn't very expensive, probably less than you would expect, and the clothes fit her perfectly.


Incoming 1Ls / Re: Planning a wedding before LS
« on: July 01, 2005, 02:30:19 AM »
If you're going to spend money, may as well spend it on the party and not the ceremony!

Incoming 1Ls / Re: Planning a wedding before LS
« on: June 30, 2005, 11:54:08 PM »
Last week we decided to get married and are doing it next week at the courthouse. Easy, no real planning involved and cheap. What more could you ask for?



Financial Aid / Re: How much are you spending?
« on: June 30, 2005, 11:43:48 PM »
Our COL might be a little high - we've been living on a combined salary of over $110k/year. Our mortgage is about $1800 and, yes, we are making payments on two cars, although they should be paid off in about a year. Our financial decisions may not be understood by others, but we are comfortable with them. Like I said, we probably won't use the entire 30k, but we have it just in case. We'll roll over any unused money to next year and take out fewer loans.

Incoming 1Ls / Re: Is this really worth it?
« on: June 29, 2005, 05:47:08 PM »
I'm giving up close to that as well. I wasn't going to do it initially (or I was going to go part-time), but I came to the realization that I don't enjoy what I'm doing and I don't want to continue doing it in the future. Due to loans, our lifestyle won't change a whole lot in law school, which was one of my worries. I'm able to take out loans that equal close to what I was taking home after taxes.

Do you enjoy what you are doing now? Would you be happy doing it for ten more years? Would you enjoy law more? You can't look at it 100% from a money standpoint, you need to consider quality of life and enjoyment as well.

Our scores are pretty much the same across the three bureaus.

Financial Aid / Re: How much are you spending?
« on: June 29, 2005, 05:41:59 PM »
I don't have a family, but my BF (soon to be DH) and I own a house and cars, etc. It's worth it for us to take the money out now and continue living here with the cars, etc. We will definitely cut back on certain things and may not need the whole amount. We just want to have it just in case. The staffords will just cover my tuition, so the additional $46k will be for us to live on for the next year (we included summer in our planning in case I don't find a paying job). He also has a salary (40k), so I think we'll be good.


Financial Aid / Re: Private Loan Question
« on: June 29, 2005, 05:39:00 PM »
Did your father not file taxes? I think all he needs to show is $18k/year or something like that. If he didn't file taxes, then you are definitely in a tight spot. Can you apply on your own? If these are the certified private loans, you may be able to get the loan without a cosigner, although your rate might be higher.

In general, a credit increase will cause your score to go up, but only if it makes a significant difference in your debt to credit ratio. If you have a high percentage (say 90%) of your credit being used and a credit limit increase will take that percentage down below 70%, you will most likely see an increase in your score of up to 50 points or so. In most cases, the inquiry will not lower your score more than a few points, so it can be a good thing to request increases. But, if you request an increase and don't get it, your score will probably drop a bit from the inquiry.

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