Any idea how need-based financial aid works?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
sequence
Posts: 20
Joined: Wed Feb 10, 2010 11:31 pm

Any idea how need-based financial aid works?

Postby sequence » Sat Feb 13, 2010 6:26 am

I'm newly independent as of this most recent tax filing. I made 3k last year while claimed as a dependent, if that matters at all.

Any idea how need-based aid works in law school? I was already receiving some in undergrad due to my mom's low income, but not very much. Seeing as I'm now filed as independent and broke as hell, should I see some money thrown my way?

TIA.

premadance
Posts: 10
Joined: Mon Jan 14, 2008 12:14 am

Re: Any idea how need-based financial aid works?

Postby premadance » Sat Feb 13, 2010 8:23 am

Generally, unless you've been independent of your parents for several years, need based financial aid will involve an assessment by the school of your finances as well as your parents. The federal loan program treats grad school students as independent regardless of age or the length of time since you were last claimed as a dependent, thus requiring only an assessment of your finances.

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swc65
Posts: 1003
Joined: Wed Jul 22, 2009 11:27 am

Re: Any idea how need-based financial aid works?

Postby swc65 » Sat Feb 13, 2010 11:53 pm

It really depends on the school. Some schools require parents' info regardless of age or dependency status.




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