Summer Financial Aid?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
Torvon
Posts: 352
Joined: Tue Sep 01, 2009 6:09 pm

Summer Financial Aid?

Postby Torvon » Mon Mar 01, 2010 7:06 pm

Anyone more familiar with the federal loan programs than I able to explain to me how most law schools handle summer loans? Specifically I'm looking at Georgetown, but I would imagine most or all law schools handle it the same. From what I understand the summer counts as part of the next fall and spring semesters for limits on financial aid for Stafford and such, but as long as I'm getting GradPLUS there isn't an annual limit, correct? (Aside from the student budget of course.) Do most schools come up with a student summer budget or is it the same as the PT budget for the regular school year?

Ideally I would get a good job during the summers to pay the bills, however I'm trying to come up with some kind of plan b, just because you never know ITE.

flowylime
Posts: 88
Joined: Wed Jan 14, 2009 4:39 pm

Re: Summer Financial Aid?

Postby flowylime » Tue Mar 02, 2010 3:59 pm

Torvon wrote:Anyone more familiar with the federal loan programs than I able to explain to me how most law schools handle summer loans? Specifically I'm looking at Georgetown, but I would imagine most or all law schools handle it the same. From what I understand the summer counts as part of the next fall and spring semesters for limits on financial aid for Stafford and such, but as long as I'm getting GradPLUS there isn't an annual limit, correct? (Aside from the student budget of course.) Do most schools come up with a student summer budget or is it the same as the PT budget for the regular school year?

Ideally I would get a good job during the summers to pay the bills, however I'm trying to come up with some kind of plan b, just because you never know ITE.


Summer term typically is considered part of the previous school year's financial aid. So for example, the summer of 2010 would be considered part of the 09-10 school year. This can vary a bit depending on when summer classes start and the school you attend.

Either way, if you borrow the maximum amount in stafford loans during the fall/spring terms, you wouldn't be able to borrow any more in the summer (obvs). The school will come up with a summer budget, and you will be able to borrow a grad plus loan for living expenses and tuition/fees. Keep in mind that you will have be enrolled at least half-time to be eligible for the grad plus loan (usually about six credits).

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legalease9
Posts: 623
Joined: Tue Mar 23, 2010 8:41 pm

Re: Summer Financial Aid?

Postby legalease9 » Tue Apr 20, 2010 3:07 pm

So if you loan out the entire 9-month budget all schools post on their website, can you get additional grad plus loans for summer?




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