Need Based Aid

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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androstan
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Re: Need Based Aid

Postby androstan » Tue Jan 25, 2011 4:21 pm

Frankie55 wrote:Assuming you meet the criteria to receive need based aid, when can you expect an offer? I'm assuming February/March along with certain schools' merit scholarships?


GWU doesn't send anything out until the first week or two of March.

Klogon
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Re: Need Based Aid

Postby Klogon » Thu Mar 03, 2011 11:28 pm

Any updates for what people have gotten for aid with EFC 0?

And when do finaid grant details come out from the schools? I guess April is listed for most schools... but even then, I'd like to have some idea what to expect from the schools I'm on the wait-list at. And just some specific questions: anybody know if you can get more grant aid in addition to a merit scholarship at wustl? How about BU?

neonx
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Re: Need Based Aid

Postby neonx » Fri Mar 04, 2011 1:21 pm

So, HELP:

I just got e-mail notification that I received ~$16,000 in need0based grants from UCLA for my first year.

I had already secured $25,000 per year based on a merit-based grant.

So, what does this mean? Will I have $41,000 in total grant money for 1L if I enroll in UCLA? Or does the need-based grant deduct from the merit-based aid?

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androstan
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Re: Need Based Aid

Postby androstan » Thu Mar 10, 2011 3:52 pm

neonx wrote:So, HELP:

I just got e-mail notification that I received ~$16,000 in need0based grants from UCLA for my first year.

I had already secured $25,000 per year based on a merit-based grant.

So, what does this mean? Will I have $41,000 in total grant money for 1L if I enroll in UCLA? Or does the need-based grant deduct from the merit-based aid?


Why do people ask these questions on an internet message board instead of just calling the financial aid department itself? Do you think we know better than the people who are actually doling out the $?

Anyway, some schools will not let you have both. If you get merit aid then you're disqualified for need-based. That's how GW does it. I don't know how UCLA does it.

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buckilaw
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Re: Need Based Aid

Postby buckilaw » Sat Mar 12, 2011 1:02 pm

I just recieved a need based grant of 62,500 over three years at Michigan. I'm pretty poor but I still can't believe that they were so generous.

Edit EFC=0
Last edited by buckilaw on Mon Apr 11, 2011 3:08 pm, edited 1 time in total.

Klogon
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Re: Need Based Aid

Postby Klogon » Wed Mar 16, 2011 2:32 am

buckilaw wrote:I just recieved a need based grant of 62,500 over three years at Michigan. I'm pretty poor but I still can't believe that they were so generous.


Damn. Do you have the numbers that line up with similar merit-based scholarships in the past?

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Hattori Hanzo
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Re: Need Based Aid

Postby Hattori Hanzo » Wed Mar 16, 2011 4:15 am

Merits are over 3 years. Need based are for one year (because they recalculated and readjust every year)

CLS: $75K merit + $5K need
Boalt: $17.5K need, no merit (rejected for matching with CLS)
NYU: $75K merit, withdrew before it came to need_based
HLS: $30K need
UCLA: $135K merit IIRC

HTH

bbermud
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Re: Need Based Aid

Postby bbermud » Wed Mar 16, 2011 5:45 am

how about EFC being 0 and having instate tuition? do you think being a resident would make them less generous?

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Hattori Hanzo
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Re: Need Based Aid

Postby Hattori Hanzo » Wed Mar 16, 2011 12:21 pm

Private schools don't care about state residency. If the school is public and the tuition is different for in-state students, that obviously reduced your COA and your "need" and might impact your fin aid.

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androstan
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Re: Need Based Aid

Postby androstan » Wed Mar 16, 2011 2:59 pm

GWU has slated March 25th for the official release of need-based aid packages to admitted students.

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androstan
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Re: Need Based Aid

Postby androstan » Mon Mar 28, 2011 10:32 pm

I got an 11k need-based grant for the upcoming year at GW. My EFC was like 5k.

Confused7
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Re: Need Based Aid

Postby Confused7 » Tue Apr 05, 2011 8:02 pm

Bumping this...

Just got my financial aid award from HLS, and grant is around 29K/year with EFC being 0. I'm actually quite terrified of this amount even though it's supposedly "high" on the spectrum of need-based aid. I'm still in undergrad so no work experience to save up money, and I come from a UG with excellent financial aid so I basically pay nothing now. Seems like a huge leap to me. Welcome to the real world, I guess?

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swc65
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Re: Need Based Aid

Postby swc65 » Tue Apr 05, 2011 8:05 pm

Confused7 wrote:Bumping this...

Just got my financial aid award from HLS, and grant is around 29K/year with EFC being 0. I'm actually quite terrified of this amount even though it's supposedly "high" on the spectrum of need-based aid. I'm still in undergrad so no work experience to save up money, and I come from a UG with excellent financial aid so I basically pay nothing now. Seems like a huge leap to me. Welcome to the real world, I guess?



Uh 87K to go to Harvard Law and you're "terrified?" You are an easily frightened little bear aren't you? LoL.

welcome to the real world? NO the real world is what the other 99% of law students face who go to much worse schools with much less money. you sir/ma'am are in a "dream world." You have won the lottery, go enjoy.

Confused7
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Re: Need Based Aid

Postby Confused7 » Tue Apr 05, 2011 8:15 pm

swc65 wrote:
Confused7 wrote:Bumping this...

Just got my financial aid award from HLS, and grant is around 29K/year with EFC being 0. I'm actually quite terrified of this amount even though it's supposedly "high" on the spectrum of need-based aid. I'm still in undergrad so no work experience to save up money, and I come from a UG with excellent financial aid so I basically pay nothing now. Seems like a huge leap to me. Welcome to the real world, I guess?



Uh 87K to go to Harvard Law and you're "terrified?" You are an easily frightened little bear aren't you? LoL.

welcome to the real world? NO the real world is what the other 99% of law students face who go to much worse schools with much less money. you sir/ma'am are in a "dream world." You have won the lottery, go enjoy.


Hang on, I'm just trying to understand this more. How is it 87k? The cost of attendance is almost 80k/year, which means I'd have to take out more than 100k over three years.

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swc65
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Re: Need Based Aid

Postby swc65 » Tue Apr 05, 2011 8:25 pm

Confused7 wrote:
swc65 wrote:
Confused7 wrote:Bumping this...

Just got my financial aid award from HLS, and grant is around 29K/year with EFC being 0. I'm actually quite terrified of this amount even though it's supposedly "high" on the spectrum of need-based aid. I'm still in undergrad so no work experience to save up money, and I come from a UG with excellent financial aid so I basically pay nothing now. Seems like a huge leap to me. Welcome to the real world, I guess?



Uh 87K to go to Harvard Law and you're "terrified?" You are an easily frightened little bear aren't you? LoL.

welcome to the real world? NO the real world is what the other 99% of law students face who go to much worse schools with much less money. you sir/ma'am are in a "dream world." You have won the lottery, go enjoy.


Hang on, I'm just trying to understand this more. How is it 87k? The cost of attendance is almost 80k/year, which means I'd have to take out more than 100k over three years.



Uh, I just meant your total award is 87K (29 per year for three years= 87K). So you're getting 87K in aid to go to Harvard! I would say that's a pretty good deal! Also, there's no reason to pay full CoA. First year, yeah you will. Second year, get a part time job and cut that down. Ton's 2Ls at my school have them (a lot work at their 1L summer jobs for ten to 20 hours per week during the semester). Third year, live on your SA money and PT job and avoid paying hardly anything for living expenses the third year. You should be able to lower your debt load if you try hard enough.

But still the "real world" for the vast vast majority of people does not include being handed 87K to attend Harvard Law.

neonx
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Re: Need Based Aid

Postby neonx » Tue Apr 05, 2011 8:29 pm

38-39K for first year at Stanford. If income/assets and tuition stay the same, I should be getting a similar amount for 2L and 3L as well. I am floored.

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swc65
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Re: Need Based Aid

Postby swc65 » Tue Apr 05, 2011 8:31 pm

neonx wrote:38-39K for first year at Stanford. If income/assets and tuition stay the same, I should be getting a similar amount for 2L and 3L as well. I am floored.



So I guess Columbia is out of the running? Also, congratz!

3L year usually has less aid because they will ask what you summer income is going to be and probably lower your finaid if you make over a certain amount.

Confused7
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Re: Need Based Aid

Postby Confused7 » Tue Apr 05, 2011 8:32 pm

swc65 wrote:
Confused7 wrote:
swc65 wrote:
Confused7 wrote:Bumping this...

Just got my financial aid award from HLS, and grant is around 29K/year with EFC being 0. I'm actually quite terrified of this amount even though it's supposedly "high" on the spectrum of need-based aid. I'm still in undergrad so no work experience to save up money, and I come from a UG with excellent financial aid so I basically pay nothing now. Seems like a huge leap to me. Welcome to the real world, I guess?



Uh 87K to go to Harvard Law and you're "terrified?" You are an easily frightened little bear aren't you? LoL.

welcome to the real world? NO the real world is what the other 99% of law students face who go to much worse schools with much less money. you sir/ma'am are in a "dream world." You have won the lottery, go enjoy.


Hang on, I'm just trying to understand this more. How is it 87k? The cost of attendance is almost 80k/year, which means I'd have to take out more than 100k over three years.



Uh, I just meant your total award is 87K (29 per year for three years= 87K). So you're getting 87K in aid to go to Harvard! I would say that's a pretty good deal! Also, there's no reason to pay full CoA. First year, yeah you will. Second year, get a part time job and cut that down. Ton's 2Ls at my school have them (a lot work at their 1L summer jobs for ten to 20 hours per week). Third year, live on your SA money and PT job and avoid paying hardly anything for living expenses the third year. You should be able to lower your debt load if you try hard enough.

But still the "real world" for the vast vast majority of people does not include being handed 87K to attend Harvard Law.


Oh, RC fail. I thought you were indicating how much in loans I'd have to take out. Yeah, good points about the part-time job and summer jobs. I'm definitely taking advantage of any free time I'll have to work my ass off. I'd say I come from a fairly disadvantaged background, and my parents have zero experience financing this sort of thing. Don't want to come off as the "starry-eyed, straight from UG" person, but putting it all into context helps me wrap my head around it.

Confused7
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Re: Need Based Aid

Postby Confused7 » Tue Apr 05, 2011 8:36 pm

neonx wrote:38-39K for first year at Stanford. If income/assets and tuition stay the same, I should be getting a similar amount for 2L and 3L as well. I am floored.


This is excellent!! Congrats!

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swc65
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Re: Need Based Aid

Postby swc65 » Tue Apr 05, 2011 8:39 pm

Confused7 wrote:
Oh, RC fail. I thought you were indicating how much in loans I'd have to take out. Yeah, good points about the part-time job and summer jobs. I'm definitely taking advantage of any free time I'll have to work my ass off. I'd say I come from a fairly disadvantaged background, and my parents have zero experience financing this sort of thing. Don't want to come off as the "starry-eyed, straight from UG" person, but putting it all into context helps me wrap my head around it.



It's true. I have similar background (and got similar aid to a similar school). I used to add up CoA minus finaid and just stare at the number in fear. Once I realized there ware ways to really cut that number down to a much more manageable level (I have a "plan" to cut 50K off what I originally had planned- we'll see how it works though). Many of my 2L classmates say they have enough time to make a few grand the first semester and more the second. 3Ls have more than enough time to work a lot and have SA money!
Last edited by swc65 on Tue Apr 05, 2011 8:43 pm, edited 1 time in total.

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BackToTheOldHouse
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Re: Need Based Aid

Postby BackToTheOldHouse » Tue Apr 05, 2011 8:39 pm

neonx wrote:38-39K for first year at Stanford. If income/assets and tuition stay the same, I should be getting a similar amount for 2L and 3L as well. I am floored.

Awesome. I'm guessing your EFC is zero?

r6_philly
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Re: Need Based Aid

Postby r6_philly » Tue Apr 05, 2011 8:41 pm

neonx wrote:38-39K for first year at Stanford. If income/assets and tuition stay the same, I should be getting a similar amount for 2L and 3L as well. I am floored.


Jealous ^ 2

Confused7
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Re: Need Based Aid

Postby Confused7 » Tue Apr 05, 2011 8:45 pm

swc65 wrote: It's true. I have similar background (and got similar aid to a similar school). I used to add up CoA minus finaid and just stare at the number in fear. Once I realized there ware ways to really cut that number down to a much more manageable level (I have a "plan" to cut 50K off what I originally had planned- we'll see how it works though). Many of my 2L classmates say they have enough time to make a few grand the first semester and more the second. 3Ls have more than enough time to work a lot and have SA money!


This is very good to know. Thanks for the information and best of luck to you! It sounds like you're in a good spot and know what you're doing. Hopefully I'll figure out what I'll actually need to live off (if it's not the whole CoA)...and hopefully that doesn't entail living off instant noodles for 3 years. :D

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BackToTheOldHouse
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Re: Need Based Aid

Postby BackToTheOldHouse » Tue Apr 05, 2011 8:46 pm

r6_philly wrote:
neonx wrote:38-39K for first year at Stanford. If income/assets and tuition stay the same, I should be getting a similar amount for 2L and 3L as well. I am floored.


Jealous ^ 2

+1 for being admitted and for the generous aid. You must be super pumped! Celebration time :)

r6_philly
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Re: Need Based Aid

Postby r6_philly » Tue Apr 05, 2011 8:48 pm

BackToTheOldHouse wrote:
r6_philly wrote:
neonx wrote:38-39K for first year at Stanford. If income/assets and tuition stay the same, I should be getting a similar amount for 2L and 3L as well. I am floored.


Jealous ^ 2

+1 for being admitted and for the generous aid. You must be super pumped! Celebration time :)


I always knew to shoot for HYS, but...

Pleeeaaassseeeee!!! :mrgreen:




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