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Author Topic: I have no idea how to pay for law school.  (Read 9033 times)

queencruella

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Re: I have no idea how to pay for law school.
« Reply #10 on: December 27, 2006, 05:27:09 PM »
In order to qualify for federal Stafford loans, you have to fill out the FAFSA (Free Application For Federal Student Aid). Do your taxes as early as you can after January 1st, 2007, and have your parents do the same. Then, when you have all your tax info ready, fill out the fafsa. Go to http://www.fafsa.ed.gov/ to fill it out electronically. You can have your completed fafsa form sent to the schools that you are considering attending. They should then prepare an aid package for you.

Your parents do not need to fill out the FAFSA. All the OP needs to do is estimate his/her taxes and fill out the FAFSA ASAP. Some schools will require either the CSS/Profile or NeedAccess (and possibly their own FA/Scholarship forms) that require parental information. However, those typically just require estimates as well so you can use last year's info as an estimate for your parents if they don't want to file in January.

EEtoJD

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Re: I have no idea how to pay for law school.
« Reply #11 on: December 27, 2006, 05:30:46 PM »
Same here.  I did my bachelor's and master's in the US as well, and always chose the lesser-ranked school with full-tuition over higher-ranked school with partial/no scholarships.


Yeah, but law school decisions are a bit different. Going to Harvard with no money and Penn with lots of money is a tough decision, but I'd choose Harvard because my earning potential seems to be larger than from Penn by enough to make it worth it. This is only from anecdotal evidence, though, I have not researched any sort of numbers along these lines.

I suppose I should have replaced "chose" with "had to attend" in that quote.  I did not even apply to Harvard et al because I CANNOT go.  There are no financial aid options out there for non-US citizens to take out 90K+ in loans with no significant assets to their name.  It's not even an choice.  Heck, I may not even be able to afford UT, and they gave me a scholarship :(

Yeah, that's a major bummer. Maybe you can meet up with a loan shark? High interest loan with the risk of broken kneecaps? Sign me up!
I can't believe these obnoxious Michigan students, who use the board not to share information, but to socialize (as pathetic as that is)

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sladkaya

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Re: I have no idea how to pay for law school.
« Reply #12 on: December 27, 2006, 05:38:09 PM »
Yeah, that's a major bummer. Maybe you can meet up with a loan shark? High interest loan with the risk of broken kneecaps? Sign me up!

Yeah, it is. I'm hoping at least one of my schools gives me a full scholarship and I won't have to worry about my kneecaps.  But we'll see.
Accepted: Michigan($$), Northwestern($$$), Vanderbilt($$$), UCLA($$), UT($$$), WUSTL($$$), UIUC($$$$), Notre Dame($$),

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BrerAnansi

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Re: I have no idea how to pay for law school.
« Reply #13 on: December 27, 2006, 05:43:53 PM »
LSD stole my long-winded entry but maybe that's for the best.  In short, I think you're a little confused about your choices.  You should be less worried about funding a potential Harvard JD than a potential UT degree.  The thing about "elite" private schools is that once you're accepted they will do whatever it takes financially to aid your matriculation.  As an international student, you won't qualify for federal loans but that need will instead be met by institutional loans.  It's one of the perks of having such a huge endowment.  UT, as a state school, is more likely to have far less financial dollars to go around and the few that it does will have strings attached. (being paid for by the taxpayers and such) 

http://www.law.harvard.edu/students/sfs/loans/

Same here.  I did my bachelor's and master's in the US as well, and always chose the lesser-ranked school with full-tuition over higher-ranked school with partial/no scholarships.


Yeah, but law school decisions are a bit different. Going to Harvard with no money and Penn with lots of money is a tough decision, but I'd choose Harvard because my earning potential seems to be larger than from Penn by enough to make it worth it. This is only from anecdotal evidence, though, I have not researched any sort of numbers along these lines.

I suppose I should have replaced "chose" with "had to attend" in that quote.  I did not even apply to Harvard et al because I CANNOT go.  There are no financial aid options out there for non-US citizens to take out 90K+ in loans with no significant assets to their name.  It's not even an choice.  Heck, I may not even be able to afford UT, and they gave me a scholarship :(
Grrr...

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queencruella

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Re: I have no idea how to pay for law school.
« Reply #14 on: December 27, 2006, 05:52:55 PM »
In order to qualify for federal Stafford loans, you have to fill out the FAFSA (Free Application For Federal Student Aid). Do your taxes as early as you can after January 1st, 2007, and have your parents do the same. Then, when you have all your tax info ready, fill out the fafsa. Go to http://www.fafsa.ed.gov/ to fill it out electronically. You can have your completed fafsa form sent to the schools that you are considering attending. They should then prepare an aid package for you.

Your parents do not need to fill out the FAFSA. All the OP needs to do is estimate his/her taxes and fill out the FAFSA ASAP. Some schools will require either the CSS/Profile or NeedAccess (and possibly their own FA/Scholarship forms) that require parental information. However, those typically just require estimates as well so you can use last year's info as an estimate for your parents if they don't want to file in January.

I was answering the OP's question based on what I know from filling out the FAFSA for undergrad. We do not need to report our parents' income on the FAFSA for law school? I didn't know that. Also, I was under the impression that the FAFSA couldn't be filled out until after January 1.

You're right that it cannot be filled until after January 1, but we're so close now that it slipped my mind that we aren't there yet. :) Many schools have a January 15 priority deadline, so it's best to get it in ASAP after January 1, even if you can't do your taxes yet. For graduate programs, all students are considered independent and no parental information is required.

sladkaya

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Re: I have no idea how to pay for law school.
« Reply #15 on: December 28, 2006, 04:05:08 PM »
LSD stole my long-winded entry but maybe that's for the best.  In short, I think you're a little confused about your choices.   You should be less worried about funding a potential Harvard JD than a potential UT degree.  The thing about "elite" private schools is that once you're accepted they will do whatever it takes financially to aid your matriculation.  As an international student, you won't qualify for federal loans but that need will instead be met by institutional loans.  It's one of the perks of having such a huge endowment.  UT, as a state school, is more likely to have far less financial dollars to go around and the few that it does will have strings attached. (being paid for by the taxpayers and such) 

http://www.law.harvard.edu/students/sfs/loans/


So it seems.  Thanks Brer, I had absolutely no idea about institutional loans. And now it's so late in the cycle, do you think it's any use applying to "elite" private schools?
Accepted: Michigan($$), Northwestern($$$), Vanderbilt($$$), UCLA($$), UT($$$), WUSTL($$$), UIUC($$$$), Notre Dame($$),

Attending: TEXAS !!!

http://www.lawschoolnumbers.com/display.php?user=sladkaya

EEtoJD

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Re: I have no idea how to pay for law school.
« Reply #16 on: December 28, 2006, 05:05:39 PM »
So it seems.  Thanks Brer, I had absolutely no idea about institutional loans. And now it's so late in the cycle, do you think it's any use applying to "elite" private schools?

Of course it's not too late! At least, I hope not, since I just submitted all mine on Christmas...  :-\
I can't believe these obnoxious Michigan students, who use the board not to share information, but to socialize (as pathetic as that is)

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Re: I have no idea how to pay for law school.
« Reply #17 on: December 28, 2006, 05:06:24 PM »
So it seems.  Thanks Brer, I had absolutely no idea about institutional loans. And now it's so late in the cycle, do you think it's any use applying to "elite" private schools?

Of course it's not too late! At least, I hope not, since I just submitted all mine on Christmas...  :-\

Uh, I hope not either.
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Zam

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Re: I have no idea how to pay for law school.
« Reply #18 on: December 31, 2006, 09:43:48 AM »
Uh, here's a question for anyone who knows a lot about FA.

I'm planning on doing my taxes as soon as humanly possible, which will probably mean in the next couple of weeks. My taxes are easy and I can then immediately do my FAFSA.

However, my parents own their own businesses and invariably need to apply for extensions. I have asked them not to do this but they tell me it is unavoidable. I feel pretty confident I can get estimates on their returns by February, but I have no idea when they will actually file. Is this going to be a problem? Will I get awarded aid and then not actually get it if they don't file by April 15th?

EEtoJD

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Re: I have no idea how to pay for law school.
« Reply #19 on: December 31, 2006, 05:00:37 PM »
Uh, here's a question for anyone who knows a lot about FA.

I'm planning on doing my taxes as soon as humanly possible, which will probably mean in the next couple of weeks. My taxes are easy and I can then immediately do my FAFSA.

However, my parents own their own businesses and invariably need to apply for extensions. I have asked them not to do this but they tell me it is unavoidable. I feel pretty confident I can get estimates on their returns by February, but I have no idea when they will actually file. Is this going to be a problem? Will I get awarded aid and then not actually get it if they don't file by April 15th?

When you fill out the FAFSA, if you're not a dependent anymore, this doesn't matter. If you are, then yeah, it might. FAFSA lets you estimate your taxes, but you do need a final accurate count before they disburse aid. If you're a dependent, I'd call up your aid office at school or email a contact given on the FAFSA website.
I can't believe these obnoxious Michigan students, who use the board not to share information, but to socialize (as pathetic as that is)

LSN</