Law School Discussion

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« on: September 30, 2005, 06:45:55 PM »
If you have assets worth of 150k or more, would that disqualify you for Federal loans and need-based grant?

If the asset is your primary residence, would law school and FAFSA expect you to sell your house to finance law school?



bruin

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Re: $$$
« Reply #1 on: September 30, 2005, 11:14:37 PM »
As far as need-based grants, that would disqualify you. To my knowledge, everybody is eligible for $18,500/year in federal loans, no matter what your assets/income are. You most likely would not get any subsidized loans, but yould get the full amount in unsubsidized stafford loans.

Re: $$$
« Reply #2 on: October 01, 2005, 10:28:59 AM »
If you have assets worth of 150k or more, would that disqualify you for Federal loans and need-based grant?

If the asset is your primary residence, would law school and FAFSA expect you to sell your house to finance law school?




Everyone who meets the basic requirements (citizenship, no prior defaults and no illegal drug histoy) will get federal loans.  The question is if they will subsidize your loans.  Does the FAFSA even ask about your home ownership?  I do not think it does.   

Grants are awarded by the schools and each school has its own policy.