Budget increase question

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ms2dai
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Joined: Fri Feb 13, 2015 11:18 am

Budget increase question

Postby ms2dai » Mon May 11, 2015 7:00 pm

Sorry if this has been asked before...

How do you go about asking for a budget increase in financial aid loans? What are some good reasons for asking for an increase? What are some reasons that will get you a quick "no"?

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twenty
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Re: Budget increase question

Postby twenty » Mon May 11, 2015 8:12 pm

ms2dai wrote:Sorry if this has been asked before...

How do you go about asking for a budget increase in financial aid loans? What are some good reasons for asking for an increase? What are some reasons that will get you a quick "no"?


Requests that you can't get a budget increase for, for starters. Your school should have a form where you can make a request - you'll probably have to provide documentation for things.

ms2dai
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Re: Budget increase question

Postby ms2dai » Wed Jul 22, 2015 8:48 am

Yeah they don't have a form. They want you to verbalize what you want and then they deny or approve. Thanks anyway...

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runinthefront
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Re: Budget increase question

Postby runinthefront » Wed Jul 22, 2015 8:58 am

ms2dai wrote:Yeah they don't have a form. They want you to verbalize what you want and then they deny or approve. Thanks anyway...


You ask. You should be able to differentiate between good reasons (e.g., my laptop without a warranty is fried and a need a new once) vs. dumb reasons (e.g., I'm going to need more money because I want to take a trip out to Cali during Spring Break).

Also, you need to retake the LSAT.

ms2dai
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Joined: Fri Feb 13, 2015 11:18 am

Re: Budget increase question

Postby ms2dai » Wed Jul 22, 2015 9:10 am

runinthefront wrote:
ms2dai wrote:Yeah they don't have a form. They want you to verbalize what you want and then they deny or approve. Thanks anyway...


You ask. You should be able to differentiate between good reasons (e.g., my laptop without a warranty is fried and a need a new once) vs. dumb reasons (e.g., I'm going to need more money because I want to take a trip out to Cali during Spring Break).

Also, you need to retake the LSAT.


Gotcha. They seem big on modest budgets but we will see what works. Not retaking the LSAT ... the score would be around the same. Standardized testing was never my "thing."

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runinthefront
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Re: Budget increase question

Postby runinthefront » Wed Jul 22, 2015 9:21 am

Okay. You will likely leave your school with crippling debt without a job that pays enough to service your debt comfortably, so I would try and be as conservative with the amount of money you take out. I think the interests rates are like 7.8% or something now Grad Plus loans. Just something to consider when deciding whether or not you must have an increase.

Good luck OP!

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A. Nony Mouse
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Re: Budget increase question

Postby A. Nony Mouse » Wed Jul 22, 2015 9:48 am

My understanding is that the best reason for a budget increase is that you have kids or other dependents. You can't get an increase for car payments.

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jchiles
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Re: Budget increase question

Postby jchiles » Wed Jul 22, 2015 10:07 am

ms2dai wrote:
Gotcha. They seem big on modest budgets but we will see what works. Not retaking the LSAT ... the score would be around the same. Standardized testing was never my "thing."


When you are living on non-dischargeable debt a modest budget is a pretty good idea.

ms2dai
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Joined: Fri Feb 13, 2015 11:18 am

Re: Budget increase question

Postby ms2dai » Wed Jul 22, 2015 10:45 am

jchiles wrote:
ms2dai wrote:
Gotcha. They seem big on modest budgets but we will see what works. Not retaking the LSAT ... the score would be around the same. Standardized testing was never my "thing."


When you are living on non-dischargeable debt a modest budget is a pretty good idea.


True




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