Is it possible to take out loans for law school w/o parents? Forum
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- Posts: 75
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Is it possible to take out loans for law school w/o parents?
I am 22 years old and have no credit. I was accepted into a school I'd really like to go to, but they have yet to reveal their merit-scholarship or financial aid packet. It is a reach school, so I am planning for the likely event that I will receive no aid.
I know that we can receive up to 20,500 a month from federal loans, but that's only enough to cover the cost of living. Are there other federal loans that we can take out without our parents co-signature? What about private? I suppose what I am asking is whether or not it is possible to finance law school at sticker without my parents co-signature, as they are extremely hesitant and may be either unable or unwilling.
I apologize if this is a rudimentary question, but I am just beside myself with worry. Anyone that can answer my question or point me in the right direction would be a godsend.
I know that we can receive up to 20,500 a month from federal loans, but that's only enough to cover the cost of living. Are there other federal loans that we can take out without our parents co-signature? What about private? I suppose what I am asking is whether or not it is possible to finance law school at sticker without my parents co-signature, as they are extremely hesitant and may be either unable or unwilling.
I apologize if this is a rudimentary question, but I am just beside myself with worry. Anyone that can answer my question or point me in the right direction would be a godsend.
- IAFG
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Re: Is it possible to take out loans for law school w/o parents?
You can take out the full cost of attendance (living expenses + tuition). That's how we all end up in 6-figure debt.
- cinephile
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Re: Is it possible to take out loans for law school w/o parents?
Yes, you can definitely take out federal loans without your parents co-signing.
- NomNom
- Posts: 170
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Re: Is it possible to take out loans for law school w/o parents?
A month?? Sign me up!I know that we can receive up to 20,500 a month
You will be fine. You can finance the whole enchilada through loans. Relax.
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Re: Is it possible to take out loans for law school w/o parents?
Yea my parents are dumb, but they aren't dumb enough to co-sign a quarter million dollar loan.IAFG wrote:You can take out the full cost of attendance (living expenses + tuition). That's how we all end up in 6-figure debt.
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- IAFG
- Posts: 6641
- Joined: Mon Jun 15, 2009 1:26 pm
Re: Is it possible to take out loans for law school w/o parents?
It's true that it can be financed, but I don't know that we can promise that OP will be fine, and it's not time to relax yet.NomNom wrote:A month?? Sign me up!I know that we can receive up to 20,500 a month
You will be fine. You can finance the whole enchilada through loans. Relax.
- NomNom
- Posts: 170
- Joined: Sat Sep 10, 2011 1:33 pm
Re: Is it possible to take out loans for law school w/o parents?
I didn't promise the OP would be fine. I'd never promise that for anyone. It's always time to relax when you are stressing about something in which you have no control. I simply stated that he or she can finance everything. It is possible. Given the information provided, that's all we know.IAFG wrote:It's true that it can be financed, but I don't know that we can promise that OP will be fine, and it's not time to relax yet.NomNom wrote:A month?? Sign me up!I know that we can receive up to 20,500 a month
You will be fine. You can finance the whole enchilada through loans. Relax.
- sunynp
- Posts: 1875
- Joined: Tue May 24, 2011 2:06 pm
Re: Is it possible to take out loans for law school w/o parents?
Now before you sign the promissory note for those loans, figure out how you plan to pay them back. Make sure you know your odds of getting a job that will cover the loan payments and allow you to live . And you know you aren't getting 20 grand a month to live on, right? I'm not sure where you got that figure.
- tyro
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Re: Is it possible to take out loans for law school w/o parents?
Also never been in debt. Even 40-80k sounds ridiculous and that's the most I think I would do outside of t14.
- NomNom
- Posts: 170
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Re: Is it possible to take out loans for law school w/o parents?
I'm still fantasizing about what I'd do with 20,500 a month.
- IAFG
- Posts: 6641
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Re: Is it possible to take out loans for law school w/o parents?
I guess I misinterpreted this statement:NomNom wrote:I didn't promise the OP would be fine. I'd never promise that for anyone. It's always time to relax when you are stressing about something in which you have no control. I simply stated that he or she can finance everything. It is possible. Given the information provided, that's all we know.IAFG wrote:It's true that it can be financed, but I don't know that we can promise that OP will be fine, and it's not time to relax yet.NomNom wrote:A month?? Sign me up!I know that we can receive up to 20,500 a month
You will be fine. You can finance the whole enchilada through loans. Relax.
NomNom wrote: You will be fine.
- NomNom
- Posts: 170
- Joined: Sat Sep 10, 2011 1:33 pm
Re: Is it possible to take out loans for law school w/o parents?
Misinterpreted...maybe. Held onto and over analyzed the shit out of? Perhaps.IAFG wrote: I guess I misinterpreted this statement:
You will be fine.
- tyro
- Posts: 643
- Joined: Sat Mar 26, 2011 2:23 am
Re: Is it possible to take out loans for law school w/o parents?
You meant they will be fine with getting that loan sum, she sarcastically quoted you saying they might not be fine paying it back and that it's going to be a gamble regardless.NomNom wrote:Misinterpreted...maybe. Held onto and over analyzed the shit out of? Perhaps.IAFG wrote: I guess I misinterpreted this statement:
You will be fine.
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- AreJay711
- Posts: 3406
- Joined: Tue Jul 20, 2010 8:51 pm
Re: Is it possible to take out loans for law school w/o parents?
Save it and give it to your kids when you die. It really isn't that exciting.NomNom wrote:I'm still fantasizing about what I'd do with 20,500 a month.
- dingbat
- Posts: 4974
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Re: Is it possible to take out loans for law school w/o parents?
Make partner?NomNom wrote:I'm still fantasizing about what I'd do with 20,500 a month.
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