Tangerine Gleam wrote:msbeautifulbasham wrote:I totally understand your situation, OP. I am worried about the same thing. I am wondering if I will qualify for any loans, because my parents have created savings accounts and mutual funds in my name and have purchased a home with my name - with the exception that they won't let me access them! So, on paper it looks like I'm loaded, but its really not the case at all, since it is all my parents' money that they won't give it to me (something about me needing to learn the value of a dollar.... hmph!) So pretty much, I'm probably headed to a much lower school than my LSAT/G.P.A. afford, because I need the aid.
No offense, but your conclusion is completely off.
You don't need to be able to afford a school up-front to attend. The grand majority of applicants have to pay entirely via loans because they don't have the money on-hand to pay for it.
Be very happy that you are lucky enough to have significant holdings, even if you won't be able to access them for years.
Thanks, guys. That is reassuring. I guess I am way off. I'm so confused on how aid works. Fortunately, I never had to depend on aid for my UG (scholarships covered all direct expenses). However, my brother is a Ph.D. student at Stanford and he was denied aid at Stanford when he applied 4 years ago, so I was wondering if its the same situation...