Law School Discussion

Couple financial aid q's

Couple financial aid q's
« on: December 09, 2008, 07:18:34 PM »
1.) Do loans cover the cost of relocation if your law school is out of state?

2.) If you don't get a paid 1L job, how do you survive?  Loan budgets are figured based upon the 9 months academic year...

Ninja1

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Re: Couple financial aid q's
« Reply #1 on: December 09, 2008, 09:03:31 PM »
1.) Do loans cover the cost of relocation if your law school is out of state?

2.) If you don't get a paid 1L job, how do you survive?  Loan budgets are figured based upon the 9 months academic year...

No.

Hide in summer classes and get FA, or move back in with the 'rents for the summer if possible.

Re: Couple financial aid q's
« Reply #2 on: December 09, 2008, 09:10:58 PM »
1.) Do loans cover the cost of relocation if your law school is out of state?

2.) If you don't get a paid 1L job, how do you survive?  Loan budgets are figured based upon the 9 months academic year...

No.

Hide in summer classes and get FA, or move back in with the 'rents for the summer if possible.

Moar questions:

If you find housing cheaper than allotted for in the CoA, can you keep the difference for misc. expenses? Or are you required to only borrow exactly what you need? I figured the CoAs are what is automatically granted in all cases.

Ninja1

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Re: Couple financial aid q's
« Reply #3 on: December 10, 2008, 09:13:31 AM »
1.) Do loans cover the cost of relocation if your law school is out of state?

2.) If you don't get a paid 1L job, how do you survive?  Loan budgets are figured based upon the 9 months academic year...

No.

Hide in summer classes and get FA, or move back in with the 'rents for the summer if possible.

Moar questions:

If you find housing cheaper than allotted for in the CoA, can you keep the difference for misc. expenses? Or are you required to only borrow exactly what you need? I figured the CoAs are what is automatically granted in all cases.

You keep the difference. COA is what they know tuition will cost + what they think it will cost you to buy books, pay for housing, and survive for the semester, including (usually) a little bit for traveling and misc. expenses. After your school deducts your tuition (and fees) from your total loan, they then disburse everything that's left over to you and you may spend it however you like (you know, within reason).

One extra word of advice, if you're smart and can afford to do so, you'll also repay the interest on unsubsidized loans, but don't beat yourself up if you can't. I couldn't this semester just because moving costs ate up a lot of my misc. funds, but in the future, I will be doing so.