Loans for Harvard

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
rubyrose
Posts: 20
Joined: Thu Jan 12, 2012 1:58 am

Loans for Harvard

Postby rubyrose » Fri Jan 13, 2012 12:41 am

Does anyone know how difficult it is to get a loan to cover the full cost of attendance at Harvard? Is it possible to secure a loan for the entire amount?

What are the qualifications for law school loans?

Thanks in advance!

backwards54
Posts: 113
Joined: Mon Jan 09, 2012 8:26 pm

Re: Loans for Harvard

Postby backwards54 » Fri Jan 13, 2012 9:52 pm

There is a lot of information on their website: http://www.law.harvard.edu/current/sfs/index.html

From what I've read, there is 2 type of financial aid available:

1) loans only
2) loans + grants.

To be admissible for grants, they look at several factors (your parents income and assets, your income and your assess, if you have other siblings in college, etc.). It appears that if you're parents make under 180 000 $ of income a year, you have very good chances of being considered for grants. If they make more than that, it's harder to get grants, unless you have a lot of other siblings in college. v

Also another good point is that international applicants are admissible for financial aid as well, not only US residents.

I don't know more ever since I haven't been accepted yet by Harvard (and don't know if I'll be) so I haven't checked their process in detail.

rubyrose
Posts: 20
Joined: Thu Jan 12, 2012 1:58 am

Re: Loans for Harvard

Postby rubyrose » Sat Jan 14, 2012 3:12 pm

Thanks so much for the info. You've been helpful. Good news about the family income... if parents make under $180,000 there's a good chance for grants. Our family is definitely under the $180,000 in income and assets.

Good luck and hopefully you'll hear soon from Harvard!

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englawyer
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Joined: Wed Feb 14, 2007 10:57 pm

Re: Loans for Harvard

Postby englawyer » Wed Jan 18, 2012 11:40 pm

rubyrose wrote:Thanks so much for the info. You've been helpful. Good news about the family income... if parents make under $180,000 there's a good chance for grants. Our family is definitely under the $180,000 in income and assets.

Good luck and hopefully you'll hear soon from Harvard!


getting a full-boat of loans is very feasible. in fact, if you elect to do that, you have a simplified financial application process.

what do you mean by "our family"? the family for financial aid purposes does not mean you and your spouse. it means your parents, unless you are over the age of 28.

rubyrose
Posts: 20
Joined: Thu Jan 12, 2012 1:58 am

Re: Loans for Harvard

Postby rubyrose » Thu Jan 19, 2012 12:23 am

this is for my son. He's applying for law school loans on his own. From what we've read the gradplus loans are the easiest to quaify for. Do you happen to know the qualifications for this type of loan? Also, on the fafsa and needplus it wants to know the family income. I believe this is for grants money.

So good to know that getting a loan for the full amount is possible. He doesnt have much for credit since he will just be graduating from undergrad, still not a problem??? thanks in advance

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englawyer
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Joined: Wed Feb 14, 2007 10:57 pm

Re: Loans for Harvard

Postby englawyer » Thu Jan 19, 2012 11:34 am

rubyrose wrote:this is for my son. He's applying for law school loans on his own. From what we've read the gradplus loans are the easiest to quaify for. Do you happen to know the qualifications for this type of loan? Also, on the fafsa and needplus it wants to know the family income. I believe this is for grants money.

So good to know that getting a loan for the full amount is possible. He doesnt have much for credit since he will just be graduating from undergrad, still not a problem??? thanks in advance


he will definitely be able to take out as much gradplus as he needs/wants. if you want the basics of grant aid you can look here

http://www.law.harvard.edu/current/sfs/ ... ytype.html


here are some basic tips for whether you should even bother applying for grants:

our parents' total family income (not the AGI on your tax return, but your actual gross income from all sources before deductions) is less than $180,000 per year and

your parents' net worth (from all investments excluding savings in qualified retirement accounts, plus home equity, plus other savings, trusts, business value, and real estate equity) falls within the range typical for the HLS Grant recipient population, which is $0 to $500,000

please note that if your parents' income exceeds $150,000 there is a low likelihood that you will qualify for HLS Grant assistance

rubyrose
Posts: 20
Joined: Thu Jan 12, 2012 1:58 am

Re: Loans for Harvard

Postby rubyrose » Thu Jan 19, 2012 2:58 pm

englawyer, you are so helpful. Thanks so very much!

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Br3v
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Re: Loans for Harvard

Postby Br3v » Thu Jan 19, 2012 3:26 pm

wait...so is it common to not be able to get enough loans to cover everything? including COL?




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