Law School Discussion

NU Scholarship

NU Scholarship
« on: March 07, 2006, 05:35:55 PM »
I am still trying to decide between NU and Chicago, but I had a question about my NU Scholarship.  According to the scholarship, I get spread my 66K accross the three years however I want.  What would be the best way to do this?


Re: NU Scholarship
« Reply #1 on: March 07, 2006, 08:03:06 PM »
I'm no expert, so take my advice with a grain of salt. I think it's best to use as much as you can your first year to avoid any loans. Because you'll have to take loans out that will exceed the federally subsidized limit that money will start accruing interest immediately. So if you have to take unsubsidized loans, it's best to do that as late as possible.

I don't know if that affects your chances of getting financial aid during your 2nd or 3rd years.

check01

Re: NU Scholarship
« Reply #2 on: March 08, 2006, 08:27:27 PM »
This is good advice, with one clarification: use what you need MINUS the $8500 in subsidized loans. The subsidized loans are free money while in school. Push the interest-building loans as late as possible into the process.

Just wanted to make that clear . . .

nowayman

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Re: NU Scholarship
« Reply #3 on: March 09, 2006, 08:07:03 AM »
Another good reason to lump the fin aid into the first year is that you might possibly land a good 1l (unlikely) and 2l (likely) job, which you can use to take a big chunk out of tuition the following year.

Btw, have you seen how crazy expensive NU is?  38k tuition with 20k+ living expenses.

Re: NU Scholarship
« Reply #4 on: March 19, 2006, 07:53:44 PM »
NU isn't that much more expensive than other top schools, and is less expensive than Columbia and NYU.  If you look at how NU breaks down the costs, their total seems high because they are more straightforward about costs (they include $3000 for a computer, for example, while NYU and CLS don't if I'm not mistaken).

nowayman

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Re: NU Scholarship
« Reply #5 on: March 21, 2006, 09:39:47 AM »
Columbia and NYU are more expensive, sure.  But they are the two most expensive lawschools in the top ten.

NU is 3k a year more than most + the cost of living in downtown Chicago.

Nu, for example, is about 30k more expensive than three years at Michigan.

9k for tuition dif.  21k for col.