I am currently employed and am making a little over $100k per year. Apparently because of this, my EFC is over 40K for the 2010-11 academic year. During my first year of law school, my income will be around 0. I have a little bit of money saved up, but not nearly enough to shell out 40K per year while I attend law school.
I'm sure this question has been asked before, but what are my options for financial aid? If I decide to pay sticker at a law school, am I going to have to take out a private bank loan to finance my law school education?
$40K+ EFC. Now what? Forum
- thalassocrat
- Posts: 488
- Joined: Wed Sep 23, 2009 8:07 pm
Re: $40K+ EFC. Now what?
No, even if your EFC were $40 million you'd still be able to take out the full cost of tuition + COL in a combination of Stafford and GradPLUS loans. Just like it's been said in just about every other thread where this question's asked.Dignan wrote:I am currently employed and am making a little over $100k per year. Apparently because of this, my EFC is over 40K for the 2010-11 academic year. During my first year of law school, my income will be around 0. I have a little bit of money saved up, but not nearly enough to shell out 40K per year while I attend law school.
I'm sure this question has been asked before, but what are my options for financial aid? If I decide to pay sticker at a law school, am I going to have to take out a private bank loan to finance my law school education?
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- Posts: 200
- Joined: Tue Dec 22, 2009 5:33 pm
Re: $40K+ EFC. Now what?
Yeah, you are going to have to get a loan. I suppose the assumption from the aid office side is that you were saving up some of that 100k a year to go to law school instead of feeding that nasty coke habit...
- Dignan
- Posts: 1110
- Joined: Sun Feb 08, 2009 5:52 pm
Re: $40K+ EFC. Now what?
I apologize for asking an oft-repeated question; I am new to the FA forum and a quick search didn't reveal an answer. Anyway, thank you for answering.thalassocrat wrote:No, even if your EFC were $40 million you'd still be able to take out the full cost of tuition + COL in a combination of Stafford and GradPLUS loans. Just like it's been said in just about every other thread where this question's asked.Dignan wrote:I am currently employed and am making a little over $100k per year. Apparently because of this, my EFC is over 40K for the 2010-11 academic year. During my first year of law school, my income will be around 0. I have a little bit of money saved up, but not nearly enough to shell out 40K per year while I attend law school.
I'm sure this question has been asked before, but what are my options for financial aid? If I decide to pay sticker at a law school, am I going to have to take out a private bank loan to finance my law school education?
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- Posts: 241
- Joined: Mon Jan 25, 2010 6:46 pm
Re: $40K+ EFC. Now what?
It should change after your first year, since your income would go down to zero right?Dignan wrote:I am currently employed and am making a little over $100k per year. Apparently because of this, my EFC is over 40K for the 2010-11 academic year. During my first year of law school, my income will be around 0. I have a little bit of money saved up, but not nearly enough to shell out 40K per year while I attend law school.
I'm sure this question has been asked before, but what are my options for financial aid? If I decide to pay sticker at a law school, am I going to have to take out a private bank loan to finance my law school education?
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