Need-based financial assistance (grants)

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
dbshjb
Posts: 25
Joined: Fri Nov 26, 2010 7:14 pm

Need-based financial assistance (grants)

Postby dbshjb » Mon Mar 21, 2011 8:49 pm

Does anyone knows how much family income will qualify for need-based financial assistance (grants) from IVY Law Schools including Columbia, U Penn, and Cornell?

alicen
Posts: 104
Joined: Tue Nov 02, 2010 4:42 pm

Re: Need-based financial assistance (grants)

Postby alicen » Tue Mar 22, 2011 1:43 am

i'm also really curious about this. willing to post my own info:

efc=0 (including parental income)
parents make 40-50k; i'm in undergrad so measly income myself

this is my financial aid for 1L year at penn - am really interested if this seems typical or is like crazy good for these schools:
3,000 Dean's Scholarship [9,000 total]
25,100 Need-based Grant [57,something total, decreasing amounts every year]
4,500 Alternative Loan
8,500 Federal Subsidized Loan
12,500 Federal Unsubsidized Loan
5,000 Perkins Loan
2,200 University Subsidized Loan

60,800 Total Aid 1L Year

10,460 Remaining

dbshjb
Posts: 25
Joined: Fri Nov 26, 2010 7:14 pm

Re: Need-based financial assistance (grants)

Postby dbshjb » Tue Mar 22, 2011 6:24 pm

Were the need-based grants only based on your family income or your numbers (LSAT/GPA) also considerated?

alicen
Posts: 104
Joined: Tue Nov 02, 2010 4:42 pm

Re: Need-based financial assistance (grants)

Postby alicen » Thu Mar 24, 2011 7:15 pm

i'm pretty much at lsat median for penn so i'm guessing it was need based.

sarahlawg
Posts: 1001
Joined: Fri Jun 25, 2010 5:59 pm

Re: Need-based financial assistance (grants)

Postby sarahlawg » Thu Mar 24, 2011 8:36 pm

alicen wrote:i'm also really curious about this. willing to post my own info:

efc=0 (including parental income)
parents make 40-50k; i'm in undergrad so measly income myself

this is my financial aid for 1L year at penn - am really interested if this seems typical or is like crazy good for these schools:
3,000 Dean's Scholarship [9,000 total]
25,100 Need-based Grant [57,something total, decreasing amounts every year]
4,500 Alternative Loan
8,500 Federal Subsidized Loan
12,500 Federal Unsubsidized Loan
5,000 Perkins Loan
2,200 University Subsidized Loan

60,800 Total Aid 1L Year

10,460 Remaining


I got the same exact award with EFC=9k... must be the max.

005618502
Posts: 2577
Joined: Thu May 06, 2010 10:56 pm

Re: Need-based financial assistance (grants)

Postby 005618502 » Thu Mar 24, 2011 8:37 pm

sarahlawg wrote:
alicen wrote:i'm also really curious about this. willing to post my own info:

efc=0 (including parental income)
parents make 40-50k; i'm in undergrad so measly income myself

this is my financial aid for 1L year at penn - am really interested if this seems typical or is like crazy good for these schools:
3,000 Dean's Scholarship [9,000 total]
25,100 Need-based Grant [57,something total, decreasing amounts every year]
4,500 Alternative Loan
8,500 Federal Subsidized Loan
12,500 Federal Unsubsidized Loan
5,000 Perkins Loan
2,200 University Subsidized Loan

60,800 Total Aid 1L Year

10,460 Remaining


I got the same exact award with EFC=9k... must be the max.


Wait your EFC was 9000 and you got that much AID?

005618502
Posts: 2577
Joined: Thu May 06, 2010 10:56 pm

Re: Need-based financial assistance (grants)

Postby 005618502 » Thu Mar 24, 2011 8:38 pm

alicen wrote:i'm also really curious about this. willing to post my own info:

efc=0 (including parental income)
parents make 40-50k; i'm in undergrad so measly income myself

this is my financial aid for 1L year at penn - am really interested if this seems typical or is like crazy good for these schools:
3,000 Dean's Scholarship [9,000 total]
25,100 Need-based Grant [57,something total, decreasing amounts every year]
4,500 Alternative Loan
8,500 Federal Subsidized Loan
12,500 Federal Unsubsidized Loan
5,000 Perkins Loan
2,200 University Subsidized Loan

60,800 Total Aid 1L Year

10,460 Remaining


So you got 34,000 in money that doesnt need to be paid back?? is this per year?

Do you think some of that was merit based?

sarahlawg
Posts: 1001
Joined: Fri Jun 25, 2010 5:59 pm

Re: Need-based financial assistance (grants)

Postby sarahlawg » Thu Mar 24, 2011 8:46 pm

AssumptionRequired wrote:
sarahlawg wrote:
alicen wrote:i'm also really curious about this. willing to post my own info:

efc=0 (including parental income)
parents make 40-50k; i'm in undergrad so measly income myself

this is my financial aid for 1L year at penn - am really interested if this seems typical or is like crazy good for these schools:
3,000 Dean's Scholarship [9,000 total]
25,100 Need-based Grant [57,something total, decreasing amounts every year]
4,500 Alternative Loan
8,500 Federal Subsidized Loan
12,500 Federal Unsubsidized Loan
5,000 Perkins Loan
2,200 University Subsidized Loan

60,800 Total Aid 1L Year

10,460 Remaining


I got the same exact award with EFC=9k... must be the max.


Wait your EFC was 9000 and you got that much AID?


yep. actually I guess mine was a little different - I had 18k merit, 57k need over 3 years, but my remaining was the same (less in alt loan/uni loan, I think).

dbshjb
Posts: 25
Joined: Fri Nov 26, 2010 7:14 pm

Re: Need-based financial assistance (grants)

Postby dbshjb » Sat Mar 26, 2011 8:33 pm

At UPenn, how much EFC will not get need-based grant? How much family income will not get any need-based grant (free money)?




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