Parental Income?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
mcdongy
Posts: 7
Joined: Sun Dec 12, 2010 7:50 pm

Parental Income?

Postby mcdongy » Mon Dec 20, 2010 7:28 pm

So I know everyone in grad school is considered financially independent by FAFSA, but not necessarily from the law school.

My parents are over 60 so have a lot of money saved up for their retirement. I am under 24 so am not automatically independent. Will law schools avoid giving me scholarships because of my parent's income and large savings? I'm not on financial aid in undergrad because of their income/assets but after undergrad they are not paying for my tuition/anything anymore.

Also, does it matter whether or not they claim me on this year's tax return? They want to but are afraid it will hurt my chances at financial aid in law school. Or is it hopeless that any school will give me aid so it doesn't matter?

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bk1
Posts: 18406
Joined: Sun Mar 14, 2010 7:06 pm

Re: Parental Income?

Postby bk1 » Mon Dec 20, 2010 7:29 pm

Except for HYS/Boalt, pretty much every school only gives merit-based and not need-based.

mcdongy
Posts: 7
Joined: Sun Dec 12, 2010 7:50 pm

Re: Parental Income?

Postby mcdongy » Mon Dec 20, 2010 7:39 pm

Except for HYS/Boalt, pretty much every school only gives merit-based and not need-based.


Thanks. Ugh, I wish I figured that out before undergrad. Would've hit the books a bit more.




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