UG loans during law school. ALSO living expenses

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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bostlaw
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Joined: Thu Oct 07, 2010 4:27 pm

UG loans during law school. ALSO living expenses

Postby bostlaw » Tue Oct 12, 2010 8:50 pm

2 questions

1) If I graduate college with loan debt (hopefully I can have it paid off by graduation) but if so, do I still have to pay them off starting at 6 months after graduation even if I am attending law school full time? It was a federal loan.

2) I understand many law school give out financial aid and there are federal loans for tution. But besides the obvious (get a job) can you recieve loans for living expenses? Federal loans for living expenses? School grants? anything. Is it common?

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kalvano
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Joined: Mon Sep 07, 2009 2:24 am

Re: UG loans during law school. ALSO living expenses

Postby kalvano » Tue Oct 12, 2010 8:52 pm

bostlaw wrote:2 questions

1) If I graduate college with loan debt (hopefully I can have it paid off by graduation) but if so, do I still have to pay them off starting at 6 months after graduation even if I am attending law school full time? It was a federal loan.

2) I understand many law school give out financial aid and there are federal loans for tution. But besides the obvious (get a job) can you recieve loans for living expenses? Federal loans for living expenses? School grants? anything. Is it common?



1) No. Payment is suspended as long as you are enrolled in school.

2) Yes. Every school has a cost-of-living estimate that you take out what is called Grad-PLUS loans for. The PLUS loans will cover you for any excess tuition plus COL. You shouldn't work during 1L.

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DearCan
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Joined: Thu Sep 16, 2010 6:13 am

Re: UG loans during law school. ALSO living expenses

Postby DearCan » Tue Oct 12, 2010 8:54 pm

bostlaw wrote:2 questions

1) If I graduate college with loan debt (hopefully I can have it paid off by graduation) but if so, do I still have to pay them off starting at 6 months after graduation even if I am attending law school full time? It was a federal loan.

2) I understand many law school give out financial aid and there are federal loans for tution. But besides the obvious (get a job) can you recieve loans for living expenses? Federal loans for living expenses? School grants? anything. Is it common?


As for the first question, you can definitely defer your loan payments if you're in school full time.

On the second one I'm of the understanding that most people are able to get enough money to cover living expenses. Most 1L students don't work from what I'm gathering. Maybe someone will give you more insight into this than I'm able to.

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bostlaw
Posts: 173
Joined: Thu Oct 07, 2010 4:27 pm

Re: UG loans during law school. ALSO living expenses

Postby bostlaw » Tue Oct 12, 2010 8:56 pm

kalvano wrote:
bostlaw wrote:2 questions

1) If I graduate college with loan debt (hopefully I can have it paid off by graduation) but if so, do I still have to pay them off starting at 6 months after graduation even if I am attending law school full time? It was a federal loan.

2) I understand many law school give out financial aid and there are federal loans for tution. But besides the obvious (get a job) can you recieve loans for living expenses? Federal loans for living expenses? School grants? anything. Is it common?



1) No. Payment is suspended as long as you are enrolled in school.

2) Yes. Every school has a cost-of-living estimate that you take out what is called Grad-PLUS loans for. The PLUS loans will cover you for any excess tuition plus COL. You shouldn't work during 1L.



thank you.

GettingReady2010
Posts: 426
Joined: Tue Jun 29, 2010 5:40 pm

Re: UG loans during law school. ALSO living expenses

Postby GettingReady2010 » Wed Oct 27, 2010 3:52 pm

kalvano wrote:
bostlaw wrote:2 questions

1) If I graduate college with loan debt (hopefully I can have it paid off by graduation) but if so, do I still have to pay them off starting at 6 months after graduation even if I am attending law school full time? It was a federal loan.

2) I understand many law school give out financial aid and there are federal loans for tution. But besides the obvious (get a job) can you recieve loans for living expenses? Federal loans for living expenses? School grants? anything. Is it common?



1) No. Payment is suspended as long as you are enrolled in school.

2) Yes. Every school has a cost-of-living estimate that you take out what is called Grad-PLUS loans for. The PLUS loans will cover you for any excess tuition plus COL. You shouldn't work during 1L
.


Will all Grad-Plus loans always FULLY cover tuition and COL?

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im_blue
Posts: 3276
Joined: Sun Apr 12, 2009 3:53 am

Re: UG loans during law school. ALSO living expenses

Postby im_blue » Wed Oct 27, 2010 4:40 pm

GettingReady2010 wrote:
kalvano wrote:
bostlaw wrote:2 questions

1) If I graduate college with loan debt (hopefully I can have it paid off by graduation) but if so, do I still have to pay them off starting at 6 months after graduation even if I am attending law school full time? It was a federal loan.

2) I understand many law school give out financial aid and there are federal loans for tution. But besides the obvious (get a job) can you recieve loans for living expenses? Federal loans for living expenses? School grants? anything. Is it common?



1) No. Payment is suspended as long as you are enrolled in school.

2) Yes. Every school has a cost-of-living estimate that you take out what is called Grad-PLUS loans for. The PLUS loans will cover you for any excess tuition plus COL. You shouldn't work during 1L
.


Will all Grad-Plus loans always FULLY cover tuition and COL?

yes




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