Law School Discussion

Living Expenses ??'s


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Re: Living Expenses ??'s
« Reply #10 on: August 02, 2006, 06:26:28 PM »
How does everyone have a car then... How do you apply for jobs for the summer if you can't drive to the interview?  That is really counter productive for the law schools.. they should be facilitating good networking opportunities.. by providing enough assistance for a car, so you can network and interview.. then maybe the employment stats will go up...  ::)
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Re: Living Expenses ??'s
« Reply #11 on: August 02, 2006, 06:33:33 PM »
also most cost of living estimates do not include car payments--they budget a transportation allotment but that's meant to cover gas and/or the cost of public transportation. in my case, even if I wanted to take out a loan to pay another loan (car note) my school made it very clear that they would not budget that in.

Exactly- I think it's around $1900 at my school- which is enough to cover insurance, parking and gasoline during the school year. Financial aid Web sites tell you that you need to either pay off your car or find another way to make car payments.

As for getting summer loans, your school will have a student budget for that and you'd find a loan just like you would otherwise. My school is not a direct lender, so I have to find a lender on my own regardless. I'd guess you could do a private loan or GradPLUS and would need to make sure that you stayed under the aggregate limit for grad school.

Re: Living Expenses ??'s
« Reply #12 on: August 02, 2006, 06:37:12 PM »
In most cases, you can only borrow up to the budget, but if this is really not enough, you can ask for a budget increase. 


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Re: Living Expenses ??'s
« Reply #13 on: August 02, 2006, 07:06:07 PM »
a loan is not free money.  at the current 6.5-8.5% rate, a dollar borrowed will cost about 50 cents in interest over 10 years, and $1 over 30.  School can certify all it wants, but the only loan with free interest while in school is subsidized stafford which limits to $8500 a year, the rest all cost you money at the time of borrowing and interests as soon as the loans are disbursed.
Bruin once again.

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Re: Living Expenses ??'s
« Reply #14 on: August 02, 2006, 09:08:35 PM »
seriously, I'm scared. They have a nifty little calculator on the federal loan entrance exam. I played around with it and I shocked. I just look at other people and assume they turned out ok and hope I'll be alright.

Re: Living Expenses ??'s
« Reply #15 on: August 02, 2006, 10:00:47 PM »
Whether you will turn out alrite depends on your school and your grade.  It all comes down to having the desire and drive to succeed in life, and not be lumped in the same rank as the suckers.  So don't worry, study hard in LS and you will be rewarded handsomely for it.