What criteria is weighed more?

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ATORR21
Posts: 7
Joined: Mon Sep 06, 2010 10:56 am

What criteria is weighed more?

Postby ATORR21 » Sun Oct 24, 2010 12:37 pm

Greetings my fellow colleagues,

I'm preparing myself to apply to law schools next fall. The one aspect I'm a little fuzzy on is what criteria will be weighed when I apply for financial aid? I have two boys under three years old, a home (which I'm selling) and a well paying job that I'll be giving up to attend law school full time. I have excellent credit, but when I quit my job and have no income coming in I will require need based aid to get us through. Will lenders and or university financial aid offices loan me money? My circumstances will change dramtically once I leave my job. Will they take that into consideration? My previous year's tax returns will indicate I make money, but like I said, that will change.

Any insight would be greatly appreciated.

AT

09042014
Posts: 18282
Joined: Wed Oct 14, 2009 10:47 pm

Re: What criteria is weighed more?

Postby 09042014 » Sun Oct 24, 2010 1:12 pm

ATORR21 wrote:Greetings my fellow colleagues,

I'm preparing myself to apply to law schools next fall. The one aspect I'm a little fuzzy on is what criteria will be weighed when I apply for financial aid? I have two boys under three years old, a home (which I'm selling) and a well paying job that I'll be giving up to attend law school full time. I have excellent credit, but when I quit my job and have no income coming in I will require need based aid to get us through. Will lenders and or university financial aid offices loan me money? My circumstances will change dramtically once I leave my job. Will they take that into consideration? My previous year's tax returns will indicate I make money, but like I said, that will change.

Any insight would be greatly appreciated.

AT



As long as you have halfway decent credit, you will get federal loans to cover the entire Cost of Attendance. I don't know if that will be enough for you though since you have kids.

User avatar
kalvano
Posts: 11720
Joined: Mon Sep 07, 2009 2:24 am

Re: What criteria is weighed more?

Postby kalvano » Sun Oct 24, 2010 1:28 pm

I believe a lot of schools allow you to ask for an increase in the estimated COL if you have kids, etc.




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