How screwed am I?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.

Posts: 97
Joined: Mon Feb 22, 2010 10:05 pm

How screwed am I?

Postby roofles » Mon May 03, 2010 1:25 am

I filled out the FAFSA, but in doing so discovered that my wife has several trusts which re-invest profits and made the net worth question ridiculous. I know that the stafford loans are standard, but how much trouble am I in for supplemental (CoA) student loans? Does the FAFSA info only affect interest rates, or do they affect both the total loan value and interest rate. I'm worried that these trusts that we see no money from are going to completely screw over my law school financing.

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voice of reason

Posts: 264
Joined: Thu Oct 29, 2009 12:18 am

Re: How screwed am I?

Postby voice of reason » Wed May 05, 2010 2:13 am

I believe your net work affects your eligibility for subsidized loans (so it sounds like you won't be getting any), but not your eligibility for un-subsidized loans and not the total amount you can borrow. So you will be able to borrow enough for tuition and basic living expenses, but the rate will be high and interest will accrue while you are in school.

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