UVA Class of 2012 Forum

[YCrevolution]

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[YCrevolution]

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[Jim_Stansel]

I'm female.


For the loans, is it better to take the all out with the lender? Better to take the out with different lenders? I need serious help, here.

It'd be easier administratively since you'd only have to deal with one lender (and one less lender's loan you have to consolidate later if you want to consolidate) although there's no penalty or anything for using multiple lenders. The only reason I haven't done my Grad Plus loan yet is I'm not quite certain yet as to how much I want to borrow.

YC, question: Did you choose your lender on SIS then actually apply for it on the Discover website? Is that the protocol?

[YCrevolution]

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[Jim_Stansel]

I'm female.


For the loans, is it better to take the all out with the lender? Better to take the out with different lenders? I need serious help, here.

It'd be easier administratively since you'd only have to deal with one lender (and one less lender's loan you have to consolidate later if you want to consolidate) although there's no penalty or anything for using multiple lenders. The only reason I haven't done my Grad Plus loan yet is I'm not quite certain yet as to how much I want to borrow.

YC, question: Did you choose your lender on SIS then actually apply for it on the Discover website? Is that the protocol?

I'm not sure what the protocol is, but I chose my lender on SIS first (and accepted the Stafford portion) and applied on the Discover website afterwards. Discover is still in the process of verifying with UVA my loan amount. I think it's better to accept the loan first (and indicate lender) because then when the lender asks for verification of the loan, UVA can tell them you've accepted it and verify it.

EDIT: If you do it within 24 hours of each other (choosing lender on SIS and applying for a loan), it probably really wouldn't matter which you did first.

True, thanks.

[Jim_Stansel]

I'm female.


For the loans, is it better to take the all out with the lender? Better to take the out with different lenders? I need serious help, here.

+1. I'm clueless and slightly panicky. Are people planning on paying their interest on the unsubsidized stafford and gradplus when in school? UVA's website says they recommend it...finance majors please help!

Not an option for me, unless during school I decide to sell my car, cancel my cell phone plan, and stop eating. But, like YC said, if you would be in a position to do this, you might consider taking less than the full amount and not have as much interest to deal with.

[crazyinalabama]

I'm female.


For the loans, is it better to take the all out with the lender? Better to take the out with different lenders? I need serious help, here.

+1. I'm clueless and slightly panicky. Are people planning on paying their interest on the unsubsidized stafford and gradplus when in school? UVA's website says they recommend it...finance majors please help!

Not an option for me, unless during school I decide to sell my car, cancel my cell phone plan, and stop eating. But, like YC said, if you would be in a position to do this, you might consider taking less than the full amount and not have as much interest to deal with.

Hmmm things to consider...thanks! If I were to pay the interest while in school my parents would probably be giving me an interest-free loan to make payments. It would probably be less hassle to just take out a little less instead.

[CE2JD]

Wait, so you have to apply separately with whomever you choose for the Stafford / GradPlus loans?

YC, did you do this online? Was it easy?

[rsr28]

I'm female.


For the loans, is it better to take the all out with the lender? Better to take the out with different lenders? I need serious help, here.

+1. I'm clueless and slightly panicky. Are people planning on paying their interest on the unsubsidized stafford and gradplus when in school? UVA's website says they recommend it...finance majors please help!

Not an option for me, unless during school I decide to sell my car, cancel my cell phone plan, and stop eating. But, like YC said, if you would be in a position to do this, you might consider taking less than the full amount and not have as much interest to deal with.

Hmmm things to consider...thanks! If I were to pay the interest while in school my parents would probably be giving me an interest-free loan to make payments. It would probably be less hassle to just take out a little less instead.

It makes more economic sense to just take out less.

Long story short, if you pay off interest but no principal while in school, you basically have a loan for the full principal amount where interest will start accruing. On the other hand, if you subtract off that amount of interest you're paying (let's suppose it's 10% of principal, which we'll call x. Interest is then .1x. If you just took out loans for 0.9x in the first place, interest cannot possibly accrue beyond the 0.1x you would have been paying. Therefore you'll be spending less money, to end up with a loan with a lesser amount to pay off when you graduate.

[geoffree]

I'm female.

Ehh, it's more "okay" to look younger as a female. As a male, the ego takes a bigger blow.

[geoffree]

geoffree - love the tar by the way. Glad to know I won't be the only deadhead in law school!

Yippeee! Good to hear. My buddy took me to the Dead show that was right around the corner from the law school last week. It was crazy being amongst so many freaks right around the corner from the school. I saw more tanks than I have ever seen in my life in that parking lot... hissssss. The show wasn't so hot, but I wasn't really expecting much ... not so much heart in it anymore imo. Your a cat lover too aren't you? So we have 2 things in common.

[YCrevolution]

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[vanwinkle]

I'm looking at apartments now. I still haven't paid my seat deposit yet (been on Hold at NU and had been hoping to get an answer by now) but it's starting to seem I'm going to be a Cav this fall.

Anyone wanna room with me at Ivy? I'm kind of a messy guy, though I swear I'm working on it

[uvatwol]

Each LRW class has 2 Dillard fellows which are basically LRW TAs. They grade the majority of your papers and talk to you about whatever issues you have with LRW. They also serve as one of your three judges during oral arguments. So in February, there's a tryout similar to the journal tryout to become a Dillard fellow. I think you can do it over any 72 hours during a period of time between like 2/1 and 3/10, something like that. 24 spots, not sure how many try out but it's not like journal tryouts where almost everyone does.

Is there any notable benefit in doing it?

Well it shows you're good at legal research and writing and is a somewhat prestigious thing to put on a resume.

are dillard fellows discouraged from being on journals, or specific journals?

No, they're not discouraged from being on journals. A couple are on law review. The other benefits are:

1-$ (not a ton, but it's something) and
2-credit. I think you get one credit per semester.

FWIW, returning UVA grads during recruiting who had themselves been Dillards were pretty interested in asking questions about LRW. So, if you're a Dillard, and you get one of those folks in an interview, I imagine it's a decent bump/hedge against weak grades. Sure, it's only about ~24 per class, but I ran across two or three. Even those who weren't themselves Dillards know what it means.

It's decent amount of work, though. You have to grade stuff (at least 3 pretty long papers and some smaller things) for and meet (for about 15-30 mins, about 4 times total) with 15 students for the whole year.

*not a Dillard*

[ak9786]

Guys i would like to know what any of you would do in this situation, i graduated last year and have worked this year and will have about 20k saved up by august, and i didnt get any scholarship just instate tuition, so im looking at this loan mess myself.


Should i keep the 20k for all three years for living expenses, like rent and food? Or should i just pay off my first semester with the 20k?

So basically what would any of you all do with 20K at the start of august?

thank you

[philosophy]

No, they're not discouraged from being on journals. A couple are on law review. The other benefits are:

1-$ (not a ton, but it's something) and
2-credit. I think you get one credit per semester.

FWIW, returning UVA grads during recruiting who had themselves been Dillards were pretty interested in asking questions about LRW. So, if you're a Dillard, and you get one of those folks in an interview, I imagine it's a decent bump/hedge against weak grades. Sure, it's only about ~24 per class, but I ran across two or three. Even those who weren't themselves Dillards know what it means.

It's decent amount of work, though. You have to grade stuff (at least 3 pretty long papers and some smaller things) for and meet (for about 15-30 mins, about 4 times total) with 15 students for the whole year.

*not a Dillard*

perfect. thanks.

[bulldog4574]

probably been asked and answered, but...

1. Deadline for accepting loans?
2. Interest on Gradplus and unsubsidized Stafford starts accruing immediately?

[RTF]

probably been asked and answered, but...

1. Deadline for accepting loans?
2. Interest on Gradplus and unsubsidized Stafford starts accruing immediately?

I'd like to know this as well.

Also and I know this has been asked before, but are any of you planning on purchasing your laptop through UVa or buying one from somewhere else?

[YCrevolution]

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[bulldog4574]

probably been asked and answered, but...

1. Deadline for accepting loans?
2. Interest on Gradplus and unsubsidized Stafford starts accruing immediately?

I'd like to know this as well.

Also and I know this has been asked before, but are any of you planning on purchasing your laptop through UVa or buying one from somewhere else?

I didn't see an explicit deadline online, but since disbursement is sometimes in August for fall semester, presumably you'd want to have it worked out before August.

From what I understand, interest on Gradplus and unsubsidized Stafford loans starts accruing immediately, but is not capitalized (added to the principal owed in the sense that future interest accrual is based off of the new principal amount) until graduation.

Ah ok great, i was wondering what the term "capitalized" was being used for, you're the best YC. So then paying off your interest while in you're school is a pretty good idea if you can afford it it looks like.

[YCrevolution]

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[crazyinalabama]

probably been asked and answered, but...

1. Deadline for accepting loans?
2. Interest on Gradplus and unsubsidized Stafford starts accruing immediately?

I emailed the Financial Aid office on Monday - they recommend accepting your loans by June 15th. I was also asking whether or not things would be messed up if I planned on opening a bank account in Charlottesville and closing my current one (since I was assuming they'll need banking info when we pick a lender). Here is everything she said:

Thank you for your email. There is no hard deadline for accepting your aid. We do recommend that you complete the process before June 15th if you want your aid to appear on your fall billing statement. Because aid money is not disbursed until the beginning of the semester, your banking information is not needed for loan purposes at this time. Your banking information is needed, however, to establish direct deposit for your excess financial aid. I would encourage you to provide the information on the appropriate forms as soon as you can to expedite the financial aid refund process in the fall.

Hope that helps.

[napolnic]

Also and I know this has been asked before, but are any of you planning on purchasing your laptop through UVa or buying one from somewhere else?

Because my desktop is perfectly fine, I'm just going to buy a small netbook for class and notes and use either that or my older laptop for exams if the screen is too small.

[stephinoakland]

Question about Seat Deposits!

I'm sending mine in to UVA next week but before I did I had some questions for you guys who have already done it.

Does UVA make you withdraw from pending/waitlist schools?
Do I have to accept my loans right away? I saw the post above re: by June 15th accepting them, I just don't want to get to deep in the process and then switch to another school.

Thanks! Look forward to seeing you in C'ville!

[Cavalier]

Does UVA make you withdraw from pending/waitlist schools?

No, but you don't get the seat deposit back. So, if you really want to, feel free to abandon us in the summer if you get off the waitlist at another school. Although I personally don't see why anyone would want to go somewhere else. [/UVA Trolling]