Law School Discussion

I know that I'm ignorant but..

I know that I'm ignorant but..
« on: May 10, 2006, 10:51:45 PM »
I just had a quick question regarding loans. I currently have $18,500 from FAFSA per year for law school. The law school that I'm attending estimates that it will cost around $25,000 per year. This includes transportation and miscellaneous expenses. I figure that this is probably somewhat close (at least w/in $5 k of what it will actually be). Where can I get this extra $10,000 or so per year that I'll need in loans? Is it purely from private loans organizations? Which ones have you guys/girls found  to be the best? Can FAFSA offer any more? Again, I know that these are broad, ignorant questions so humor me. Thanks for any help!

Law2k6

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Re: I know that I'm ignorant but..
« Reply #1 on: May 10, 2006, 11:17:03 PM »
Basically, you can get either the brand new Graduate PLUS loan, which is a government backed loan program like unto the Stafford loan program, or you can get private loans.

See the these threads:
http://www.lawschooldiscussion.org/prelaw/index.php/topic,59307.0.html
http://www.lawschooldiscussion.org/prelaw/index.php/topic,60064.0.html

SapientiaEstPotentia

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Re: I know that I'm ignorant but..
« Reply #2 on: June 06, 2006, 10:34:52 PM »
Ok, so I got my credit score as of today and now Iím wondering what will happen to my credit score as soon as I take out the Federal unsubsidized/subsidized, and or Private loans, and the half baked GradPLUS loan. Will my credit score drop after three years of loans?  Go Trojans!

SapientiaEstPotentia

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Re: I know that I'm ignorant but..
« Reply #3 on: June 06, 2006, 11:01:14 PM »
bump

SapientiaEstPotentia

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Re: I know that I'm ignorant but..
« Reply #4 on: June 07, 2006, 11:43:12 AM »
where's the aid?



Bump

SapientiaEstPotentia

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Re: I know that I'm ignorant but..
« Reply #5 on: June 07, 2006, 12:04:24 PM »
Spoke with the Citi-Assist Loan people and they finally answered my question. It seems that law students credit scores are affected by the amount of money they borrow for law school. It all boils down to the debt-to-credit ratio thing. There goes my excellent credit score. Asta La vista baby!!!

SapientiaEstPotentia

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Re: I know that I'm ignorant but..
« Reply #6 on: June 07, 2006, 03:49:55 PM »
I just heard that a cop got shot near the usc campus. That sucks!

Re: I know that I'm ignorant but..
« Reply #7 on: June 12, 2006, 08:40:47 PM »
I'm unclear on exactly how Grad Plus loans work.  When do we apply for these loans?  Do we wait for information from the school we're going to?  Wouldn't I be taking a risk if I keep waiting for info. on the grad loan plus???  Should I apply for private funding now just in case?

Also, what's the deal with Stafford loans?  Once I return the forms accepting them from my college do I then apply for them from a private bank or does my school handle this??

I'm REALLY ignorant........thanks.

SapientiaEstPotentia

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Re: I know that I'm ignorant but..
« Reply #8 on: July 16, 2006, 04:07:27 PM »
Go for the GRADPlus loan. You get to borrow money at a reasonable interest rate and you do the patriotic thing by allowing Uncle Sam to earn the Proceeds. Our Federal Government needs all the help it can get from us. Your help starts with such actions. 
 ;)

Re: I know that I'm ignorant but..
« Reply #9 on: July 16, 2006, 09:14:53 PM »
hahahah amen SapientiaEstPotentia!