Need Based Grants

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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Nickg415
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Need Based Grants

Postby Nickg415 » Wed Aug 01, 2012 4:15 pm

So I have been noticing that a lot of top 14 schools have need based financial assistance. I was hoping someone with more knowledge, possibly some experience, with the requirements and extent of such aid at the T14 (Specifically Penn and UVA).

mr.hands
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Re: Need Based Grants

Postby mr.hands » Wed Aug 01, 2012 5:11 pm

Need based aid is basically a myth outside of HYS. You need to be in DIRE need of financial help to even be considered for something. Probably not something to bank on (granted, I don't know your situation)

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indigomachine
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Re: Need Based Grants

Postby indigomachine » Wed Aug 01, 2012 5:54 pm

mr.hands wrote:Need based aid is basically a myth outside of HYS. You need to be in DIRE need of financial help to even be considered for something. Probably not something to bank on (granted, I don't know your situation)


This is basically false, at least for NYU. Not sure about Penn / UVA / rest of CCN bracket, but I got aid on appeal from NYU (my appeal was strictly need-based and I'm ED so it's not like I could bargain with other aid packages)

Two points that may lead to some confusion on this (can only speak for NYU, but I'd guess the process is similar at other T14 schools)

1. NYU distinguishes between unwillingness and inability for family contribution. If your family could, in theory, support your legal education to some extent, that is considered as part of your financial resource s, regardless of whether they actually do. (this is how it was explained at our ASW at least).

2. This sort of speaks to the whole "dire need" idea you mentioned, but getting need based aid from law school is not like getting it from undergrad. In undergrad the approach seems much more "undergrad is expensive, you're not rich, here's some combination of need/merit aid". Law school fin aid offices know law school is expensive and that very few people can afford out of pocket, but barring a compelling reason why you are exceptionally unable to reasonably cover the cost, they will probably expect you to cover the cost with federal stafford and grad plus loans. I think "dire" need is a bit strong, but this may just be difference in word choice... You don't need to be homeless / supporting a kid on your own, but my guess is that need-based aid is unlikely if your only reasons are "Wow, law school is expensive, I'm not rich, and my parents (reasonably) don't want to pay even more exorbitant amounts of money to educate me".

*note: also have another friend at NYU with median stats going almost certainly on some need based aid. (I say almost because technically can't know what portion, if any, is merit, and mine is definitely need based)

Maybe some Penn / UVA people can add some insight since you're mostly interested in those schools.

Tl;dr: need based aid is not a myth outside HYS

(Sorry about any typos. On phone)

mr.hands
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Re: Need Based Grants

Postby mr.hands » Wed Aug 01, 2012 6:45 pm

Fwiw, I notified a T14 that I owed 60k+ in undergrad debt and had no family support and zero assets. Got nothing

It is extremely hard to get need based aid for law school. When I said it was a myth, I was being hyperbolic (I thought that was clear). It exists, but schools are very very stingy with it. Some schools will calculate your need based aid and your merit based aid and just give you whichever is higher, instead of adding them together. I have no idea what UVAs or UPenns policy on that is, however

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2014
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Re: Need Based Grants

Postby 2014 » Wed Aug 01, 2012 7:50 pm

Chicago has a need access form you fill out but when you get the award it isn't broken down into need or merit so the safe assumption is that it is mostly merit. I made a similar plea to the person above and received a scholarship though so maybe it does play a role.

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indigomachine
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Re: Need Based Grants

Postby indigomachine » Wed Aug 01, 2012 8:11 pm

mr.hands wrote:Fwiw, I notified a T14 that I owed 60k+ in undergrad debt and had no family support and zero assets. Got nothing

It is extremely hard to get need based aid for law school. When I said it was a myth, I was being hyperbolic (I thought that was clear). It exists, but schools are very very stingy with it. Some schools will calculate your need based aid and your merit based aid and just give you whichever is higher, instead of adding them together. I have no idea what UVAs or UPenns policy on that is, however


Was this no family support because they couldn't or because it was a strain that they didn't want to take on?




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