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How does student income affect financial aid?

Posted: Tue Jan 09, 2018 7:59 pm
by moonstaff324
Hi everyone, I recently debating whether or not to take a job before entering law school. I've already applied this admission cycle, but I was wondering how the income I'd make from my job would affect financial aid. My family as a whole has a very low income, and I'm expecting to get some aid at the schools I'm applying to. However, I'm not sure how the income I would make might affect financial aid. I know the student income is considered, but it seems like it's not considered as much because obviously the student cannot continue employment during law school. It seems to be the case that the students assets are fully considered but I'm just wondering how much the student's income is considered. Of course, I'm sure this varies school to school but any insight is appreciated.

Some extra details: I know only HYS are schools with significant aid. I am looking at these schools.
I'm only a year out of undergrad doing mostly volunteer work and deciding whether or not to take this job or not. Probably will not take if it substantially impacts aid. Thanks.

Re: How does student income affect financial aid?

Posted: Tue Mar 13, 2018 9:30 pm
by anacabana
moonstaff324 wrote:Hi everyone, I recently debating whether or not to take a job before entering law school. I've already applied this admission cycle, but I was wondering how the income I'd make from my job would affect financial aid. My family as a whole has a very low income, and I'm expecting to get some aid at the schools I'm applying to. However, I'm not sure how the income I would make might affect financial aid. I know the student income is considered, but it seems like it's not considered as much because obviously the student cannot continue employment during law school. It seems to be the case that the students assets are fully considered but I'm just wondering how much the student's income is considered. Of course, I'm sure this varies school to school but any insight is appreciated.

Some extra details: I know only HYS are schools with significant aid. I am looking at these schools.
I'm only a year out of undergrad doing mostly volunteer work and deciding whether or not to take this job or not. Probably will not take if it substantially impacts aid. Thanks.


+1

Re: How does student income affect financial aid?

Posted: Mon Apr 16, 2018 3:55 am
by asheets2
I was wondering about student income too. If anyone knowledgeable could weigh in it'd be much appreciated.

Re: How does student income affect financial aid?

Posted: Fri Jun 08, 2018 12:05 pm
by Synapse2018
Where it matters most is the ability to secure private loans. Law school is expensive and those with low incomes are often not approved without a co-signer that has a significant income which can often be difficult to secure.

Other than that, a low EFC will make you eligible for maximum federal grants and loans which won't even cover half of tuition sometimes, let alone COA. If you can't finance the difference, you're SOL. That's why it's important to go to the schools that give you the most aid. Because, although it's stigmatized and not spoken of much, "credit worthiness" which is often defined by your income, can keep you in or out of the school of your choice.