UVA Class of 2012

(housing, friendships, future exams, all things 2012)
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limegreen
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Re: UVA Class of 2012

Postby limegreen » Mon Apr 20, 2009 4:16 pm

I'm afraid if I take the full amount I'm going to waste money on stupid stuff.

showNprove
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Re: UVA Class of 2012

Postby showNprove » Mon Apr 20, 2009 4:17 pm

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Last edited by showNprove on Sat Feb 26, 2011 6:47 pm, edited 1 time in total.

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limegreen
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Re: UVA Class of 2012

Postby limegreen » Mon Apr 20, 2009 4:19 pm

showNprove wrote:
limegreen wrote:I'm afraid if I take the full amount I'm going to waste money on stupid stuff.

You could really leverage your position by investing your excess loans in the stock market.


I just put half of my savings (not much) in the stock market a few months ago so I think I'll stick with that for now.

I just feel like the estimates are really high for living expenses, and that's saying a lot coming from me.

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TaoTao
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Re: UVA Class of 2012

Postby TaoTao » Mon Apr 20, 2009 4:20 pm

limegreen wrote:Thanks a.williams.

Is everyone taking the full amount?


I'm pretty sure I am

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TaoTao
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Re: UVA Class of 2012

Postby TaoTao » Mon Apr 20, 2009 4:21 pm

limegreen wrote:
showNprove wrote:
limegreen wrote:I'm afraid if I take the full amount I'm going to waste money on stupid stuff.

You could really leverage your position by investing your excess loans in the stock market.


I just put half of my savings (not much) in the stock market a few months ago so I think I'll stick with that for now.

I just feel like the estimates are really high for living expenses, and that's saying a lot coming from me.


The estimates are something like 20K for living expenses per year, right?

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a.williams
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Re: UVA Class of 2012

Postby a.williams » Mon Apr 20, 2009 4:21 pm

limegreen wrote:Thanks a.williams.

Is everyone taking the full amount?


At least for the first year. I have no idea what the types of costs are going to be, especially if I am paying double rent or something like that during the summer. You have to remember summer expenses when you are budgeting your money.

I should also point out that I am completely on my own for law school expenses. No parent help for me.

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iamjikem
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Re: UVA Class of 2012

Postby iamjikem » Mon Apr 20, 2009 4:22 pm

limegreen wrote:I'm afraid if I take the full amount I'm going to waste money on stupid stuff.


I will personally take the full amount because I don't know what my budget will look like until I've lived it a couple of months (especially since I don't know what kind a job my wife will be able to get).

If I have any left over (or I see I have too much as the year goes on), I will apply the excess toward my loan. I can understand being concerned about spending money that you don't want to because it's there. Maybe put any that you don't think you'll need immediately into a CD so it's less accessible? Plus, you'd be offsetting some of the interest you're accruing by getting higher interest in the CD. In addition, a CD wouldn't carry the same risk as the stock market.

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geoffree
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Re: UVA Class of 2012

Postby geoffree » Mon Apr 20, 2009 4:23 pm

gladiator wrote:
limegreen wrote:I know we've talked about restaurants a little before, but I have a couple of questions:

Where is the best pizza?

Where is the best mexican? (aside from Chiptole, obviously)

My BF and I plan on trying several of each this summer to try and scope out our favorites, but I'd really like some suggestions from anyone who has a fav already!


It's pretty hard to fuck up pizza. There are plenty of acceptable places in Charlottesville; I'd say Christian's is overrated as is Crozet Pizza. They're both good but not go-out-of-your-way-to-go-there good.


I dunno, if you're a veggie it's pretty hard to beat Christian's.

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limegreen
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Re: UVA Class of 2012

Postby limegreen » Mon Apr 20, 2009 4:24 pm

I've been living on a certain amount for a while and don't see any reason it would change in law school. That makes me kind of want to go on the low end and try to live frugally. If I run out my Mom will cover me if it's not too bad, but I really wanted to do this on my own.

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iamjikem
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Re: UVA Class of 2012

Postby iamjikem » Mon Apr 20, 2009 4:29 pm

limegreen wrote:I've been living on a certain amount for a while and don't see any reason it would change in law school. That makes me kind of want to go on the low end and try to live frugally. If I run out my Mom will cover me if it's not too bad, but I really wanted to do this on my own.


If you've got other backups, and you really think you would be fine taking a lower amount, I would say go for it. There's no need to accrue the extra interest if you don't need to. You know your situation best, and I wouldn't recommend taking the full amount just because it appears that everyone else is.

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EaglesXLIV
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Re: UVA Class of 2012

Postby EaglesXLIV » Mon Apr 20, 2009 4:32 pm

limegreen wrote:Where is the best pizza?


I had Christian's when I went to the ASD, and frankly, I was not impressed. It was really greasy and only sufficiently tasty. I'm from the Northeast, though, so I realize that Virginians probably have lower pizza standards ;)


Oh jeez.. another NYC tool to attend Virginia :lol: (jk, but after meeting people from the northeast here, their obsession with bagels and pizza kind of strikes you after awhile, heh). I'd definitely prefer Mellow Mushroom over Christian's, though it's more of a restaurant/bar than a pizza place.

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limegreen
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Re: UVA Class of 2012

Postby limegreen » Mon Apr 20, 2009 4:34 pm

iamjikem wrote:
limegreen wrote:I've been living on a certain amount for a while and don't see any reason it would change in law school. That makes me kind of want to go on the low end and try to live frugally. If I run out my Mom will cover me if it's not too bad, but I really wanted to do this on my own.


If you've got other backups, and you really think you would be fine taking a lower amount, I would say go for it. There's no need to accrue the extra interest if you don't need to. You know your situation best, and I wouldn't recommend taking the full amount just because it appears that everyone else is.


If you don't use it all can you pay it back at the end of the semester, or is there a penalty or something?

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a.williams
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Re: UVA Class of 2012

Postby a.williams » Mon Apr 20, 2009 4:52 pm

limegreen wrote:
iamjikem wrote:
limegreen wrote:I've been living on a certain amount for a while and don't see any reason it would change in law school. That makes me kind of want to go on the low end and try to live frugally. If I run out my Mom will cover me if it's not too bad, but I really wanted to do this on my own.


If you've got other backups, and you really think you would be fine taking a lower amount, I would say go for it. There's no need to accrue the extra interest if you don't need to. You know your situation best, and I wouldn't recommend taking the full amount just because it appears that everyone else is.


If you don't use it all can you pay it back at the end of the semester, or is there a penalty or something?


There's no repayment penalty, but you would just have to pay on the principal*, which would have already accrued at most a year's worth of interest. Still it's better than letting the principal accrue more.

EDIT:
* I think

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thesealocust
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Re: UVA Class of 2012

Postby thesealocust » Mon Apr 20, 2009 5:03 pm

edit: n/m
Last edited by thesealocust on Thu Jul 30, 2009 4:08 pm, edited 1 time in total.

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ILikeIke
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Re: UVA Class of 2012

Postby ILikeIke » Mon Apr 20, 2009 5:11 pm

iamjikem wrote:
limegreen wrote:I'm afraid if I take the full amount I'm going to waste money on stupid stuff.


I will personally take the full amount because I don't know what my budget will look like until I've lived it a couple of months (especially since I don't know what kind a job my wife will be able to get).

If I have any left over (or I see I have too much as the year goes on), I will apply the excess toward my loan. I can understand being concerned about spending money that you don't want to because it's there. Maybe put any that you don't think you'll need immediately into a CD so it's less accessible? Plus, you'd be offsetting some of the interest you're accruing by getting higher interest in the CD. In addition, a CD wouldn't carry the same risk as the stock market.


Are you allowed to do this? I remember someone telling me once that there are rules against investing med. school loans but I don't know a) if that person had any idea what he was talking about and b) if that was a certain kind of loan or what.

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limegreen
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Re: UVA Class of 2012

Postby limegreen » Mon Apr 20, 2009 5:12 pm

thesealocust wrote:
limegreen wrote:Is everyone taking the full amount?


It would be foolish not to. No federal loans (all 3 kinds) have any early repayment penalties, and even on a $40,000 you won't have much interest to pay if you decide after a month or to to 'return' (IE pay back) a portion of the $$$.

On the other hand, if an expense you didn't budget for comes up and you need money but only took out a fraction of your available loans, good luck.


Thanks sealocust, this is kind of what I was asking. Obviously if there is no penalty for repayment it would make more sense to take it all, but I was afraid I would take it and have a lot left over and then be paying a lot of interest on money I didn't need. I'm new to this as you can see. I appreciate the help and insight!

Also, when do we have to accept the loans by? When do we get the money? Any details or info at all relating to loans would be helpful, I am clueless.

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thesealocust
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Re: UVA Class of 2012

Postby thesealocust » Mon Apr 20, 2009 5:24 pm

edit: n/m
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showNprove
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Re: UVA Class of 2012

Postby showNprove » Mon Apr 20, 2009 5:27 pm

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Last edited by showNprove on Sat Feb 26, 2011 6:47 pm, edited 1 time in total.

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Jim_Stansel
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Re: UVA Class of 2012

Postby Jim_Stansel » Mon Apr 20, 2009 5:33 pm

I just accessed my package offer and it totaled $58k for the year. Is this the maximum amount - anyone get more than this? I figured I was getting max since I had a FAFSA EFC of 0 and only one living parent who is retired. But I thought the estimated COA was 60 and change.

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Jim_Stansel
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Re: UVA Class of 2012

Postby Jim_Stansel » Mon Apr 20, 2009 5:37 pm

showNprove wrote:
EaglesXLIV wrote:Oh jeez.. another NYC tool to attend Virginia :lol: (jk, but after meeting people from the northeast here, their obsession with bagels and pizza kind of strikes you after awhile, heh). I'd definitely prefer Mellow Mushroom over Christian's, though it's more of a restaurant/bar than a pizza place.

Not quite NYC (or NY, for that matter), but yes, NY-style pizza > all.

And who doesn't like bagels? Do you know how many things you can put on a bagel?


And when I was a kid, my mom used to make me bagel pizzas. Mmmmm :)


I'm a Long Island toolbag and I have to agree. Sometimes I make the mistake of getting pepperoni pizza in another region of the country and instead of normal circular crispy red pepperoni slices, they put some kind of gross soft spam-like imitation pepperoni bullshit on it. What the hell is that about?

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iamjikem
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Re: UVA Class of 2012

Postby iamjikem » Mon Apr 20, 2009 5:41 pm

ILikeIke wrote:
iamjikem wrote:
limegreen wrote:I'm afraid if I take the full amount I'm going to waste money on stupid stuff.


I will personally take the full amount because I don't know what my budget will look like until I've lived it a couple of months (especially since I don't know what kind a job my wife will be able to get).

If I have any left over (or I see I have too much as the year goes on), I will apply the excess toward my loan. I can understand being concerned about spending money that you don't want to because it's there. Maybe put any that you don't think you'll need immediately into a CD so it's less accessible? Plus, you'd be offsetting some of the interest you're accruing by getting higher interest in the CD. In addition, a CD wouldn't carry the same risk as the stock market.


Are you allowed to do this? I remember someone telling me once that there are rules against investing med. school loans but I don't know a) if that person had any idea what he was talking about and b) if that was a certain kind of loan or what.


I could see there being a rule against investing student loans into the stock market or something like that, but if there are rules against student loans into FDIC/NCUA insured CDs, I don't get that. I'm pretty sure my wife and I put part of her undergrad student loan into a CD until we needed it later. However, the amount of that loan was miniscule compared to what we're talking for law school. I don't think they'd disallow us to put our loans into a regular savings account (which is a type of investment). In reality, a CD is a type of savings account. I would think they wouldn't have any regulations against this. Anyone know?

(I guess these are all questions we could/should be asking the financial aid department.)

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iamjikem
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Re: UVA Class of 2012

Postby iamjikem » Mon Apr 20, 2009 5:43 pm

Jim_Stansel wrote:I just accessed my package offer and it totaled $58k for the year. Is this the maximum amount - anyone get more than this? I figured I was getting max since I had a FAFSA EFC of 0 and only one living parent who is retired. But I thought the estimated COA was 60 and change.


Are you a VA resident? I think that 58K was for Virginia residents. 63K is for us out-of-staters.

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Jim_Stansel
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Re: UVA Class of 2012

Postby Jim_Stansel » Mon Apr 20, 2009 5:51 pm

iamjikem wrote:
Jim_Stansel wrote:I just accessed my package offer and it totaled $58k for the year. Is this the maximum amount - anyone get more than this? I figured I was getting max since I had a FAFSA EFC of 0 and only one living parent who is retired. But I thought the estimated COA was 60 and change.


Are you a VA resident? I think that 58K was for Virginia residents. 63K is for us out-of-staters.


No, I am not a resident, but, looking again at my applicant status, apparently I have been classified as one. No idea why - I definitely didn't fill out a residency form or anything like that. Shit. I have to get that cleared up. Thanks for pointing that out.

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YCrevolution
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Re: UVA Class of 2012

Postby YCrevolution » Mon Apr 20, 2009 6:00 pm

..

rwwong
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Re: UVA Class of 2012

Postby rwwong » Mon Apr 20, 2009 6:47 pm

Nicomedes wrote:Hey, just thought I'd ask if anyone around here is still looking for a roommate for next year. I just didn't really love Ivy Gardens when I stopped by, and so I'm looking a little further out for a "nicer" place to live. I'm looking currently at Jefferson Ridge (about 3.5 miles from the law school) and Norcross Station (downtown area), but people seem to hold Woodlands in particularly high regard, and since there are no 1 bedrooms, I figured I would see if anyone considering moving into Woodlands is looking for a roommate.

About me: 22 year old guy from Maryland, clean but by no means a neat freak, I find that I don't spend too much time IN my apartment wherever I live, if that makes any sense. Uh, not too sure what to say, pretty laid back, total sports kid. If you have any specific questions, or anyone is interested, shoot me a PM.


Nicomedes, glad i stumbled upon your post, I've been looking for someone to live with in a 2BR at the Woodlands for a couple days now. Sent you a pm with more info...




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