Serious question - inability to pay early decision

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girlmeetslawschool
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Serious question - inability to pay early decision

Postby girlmeetslawschool » Mon Jan 25, 2010 10:34 pm

Hello

I have a rather serious (but possibly "dumb" question). Let's say someone is accepted to a school (school A) early decision. it's a fine school, but it turns out that she may not be able to afford it. it is an expensive school and her family just isn't rich. she knew going in that financially she would be taking a risk applying early decision. However, she got into another school, school B, and the financial aid package they offer her is substantially better than the one offered by school A.
In fact, it's so much better that she doesn't even know if she can justify or afford school A. I don't think she can pay them the tuition. they simply aren't offering enough.
(obviously this is a for-instance and hasn't happened because she hasn't even gotten her W2 yet and can't do her taxes until she gets it and therefore cannot fill in her financial aid forms...)

So what would happen if she withdrew from school A and went to school B? She is aware of the 'contract' she signed....but what really are the "consequences"? (seriously) What if she says that she cannot afford school A but school B has made her an offer that is feasible financially?

i know you may be thinking this is ridiculous and she shouldn't have applied early decision, but just humor me and answer the question!
My friend told me know knows of someone who applied early decision to undergrad somewhere and couldn't afford it and ended up going somewhere else.

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vanwinkle
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Re: Serious question - inability to pay early decision

Postby vanwinkle » Mon Jan 25, 2010 10:36 pm

That's breaking a contract, school A could notify school B, and then both schools would permanently reject your "friend". Oh, and they could also notify schools C through Z of same.

Your "friend" needs to take out the loans to attend school A, and live with the consequences of "her" decision. Most people don't have rich families, they just take the loans out and plan on paying them off after they graduate, and these are things they ponder before signing a binding ED contract.

09042014
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Re: Serious question - inability to pay early decision

Postby 09042014 » Mon Jan 25, 2010 10:38 pm

Being rejected from both.

You'll get loans to cover tuition and living.

Krones
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Re: Serious question - inability to pay early decision

Postby Krones » Mon Jan 25, 2010 10:39 pm

I'm pretty sure you're out of luck. Your only option would be to take a year off and reapply next year to a school you can go to. One of the caveats of applying early decision is that you are unlikely to get much financial aid.

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Vincent Vega
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Re: Serious question - inability to pay early decision

Postby Vincent Vega » Mon Jan 25, 2010 10:40 pm

vanwinkle wrote:That's breaking a contract, school A could notify school B, and then both schools would permanently reject your "friend". Oh, and they could also notify schools C through Z of same.

Your "friend" needs to take out the loans to attend school A, and live with the consequences of "her" decision. Most people don't have rich families, they just take the loans out and plan on paying them off after they graduate, and these are things they ponder before signing a binding ED contract.


credited. Don't break your ED contract. Go there, or don't go anywhere. Those are your only options at this point.

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whuts4lunch
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Re: Serious question - inability to pay early decision

Postby whuts4lunch » Mon Jan 25, 2010 10:41 pm

It is my understanding that by not attending ANY law school next year, you would not be breaking the contract and could then reapply to schools. That would be your best bet. Oh, sorry, I mean "your friend's" best bet :wink:

girlmeetslawschool
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Re: Serious question - inability to pay early decision

Postby girlmeetslawschool » Mon Jan 25, 2010 10:42 pm

Krones wrote:I'm pretty sure you're out of luck. Your only option would be to take a year off and reapply next year to a school you can go to. One of the caveats of applying early decision is that you are unlikely to get much financial aid.


what i don't understand is why i won't get as much considering the fact that i am still applying for NEED-based financial aid.
it's not like i have any less NEED.

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vanwinkle
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Re: Serious question - inability to pay early decision

Postby vanwinkle » Mon Jan 25, 2010 10:43 pm

Halibut6 wrote:credited. Don't break your ED contract. Go there, or don't go anywhere. Those are your only options at this point.

Some ED contracts are worded such that not attending breaks it, whether you attend elsewhere or not. You could request a release or deferral, but there would have to be a voluntary agreement to it on their part, and that's not very likely without a good reason.

And "I got better financial aid somewhere else" is not a good reason.

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superserial
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Re: Serious question - inability to pay early decision

Postby superserial » Mon Jan 25, 2010 10:43 pm

breaking an ED contract would be a great way for your "friend" to start off her legal career.

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superserial
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Re: Serious question - inability to pay early decision

Postby superserial » Mon Jan 25, 2010 10:43 pm

girlmeetslawschool wrote:
Krones wrote:I'm pretty sure you're out of luck. Your only option would be to take a year off and reapply next year to a school you can go to. One of the caveats of applying early decision is that you are unlikely to get much financial aid.


what i don't understand is why i won't get as much considering the fact that i am still applying for NEED-based financial aid.
it's not like i have any less NEED.


because you have less leverage.

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vanwinkle
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Re: Serious question - inability to pay early decision

Postby vanwinkle » Mon Jan 25, 2010 10:44 pm

girlmeetslawschool wrote:what i don't understand is why i won't get as much considering the fact that i am still applying for NEED-based financial aid.
it's not like i have any less NEED.

For graduate programs, need-based aid is almost always loans. Next time do some research BEFORE signing a binding contract.

girlmeetslawschool
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Re: Serious question - inability to pay early decision

Postby girlmeetslawschool » Mon Jan 25, 2010 10:45 pm

vanwinkle wrote:
girlmeetslawschool wrote:what i don't understand is why i won't get as much considering the fact that i am still applying for NEED-based financial aid.
it's not like i have any less NEED.

For graduate programs, need-based aid is almost always loans. Next time do some research BEFORE signing a binding contract.


well in that case, then my financial aid would be the same. I don't think i'd get other aid, to be honest....just the need-based stuff

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Kiersten1985
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Re: Serious question - inability to pay early decision

Postby Kiersten1985 » Mon Jan 25, 2010 10:45 pm

girlmeetslawschool wrote:
Krones wrote:I'm pretty sure you're out of luck. Your only option would be to take a year off and reapply next year to a school you can go to. One of the caveats of applying early decision is that you are unlikely to get much financial aid.


what i don't understand is why i won't get as much considering the fact that i am still applying for NEED-based financial aid.
it's not like i have any less NEED.


Then what's the problem? You're right - it shouldn't affect your need-based awards. But the school has no motivation to draw you in with merit awards because you're going to attend no matter what.

No offense intended, but these are the things you think about prior to applying.

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Vincent Vega
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Re: Serious question - inability to pay early decision

Postby Vincent Vega » Mon Jan 25, 2010 10:45 pm

Unless this school you applied ED to was called Yale, Harvard or Stanford, don't expect need-based aid from any law school. Need-based LS aid is called subsidized stafford loans. Did you investigate the choice to go to law school and financing such before you applied?

girlmeetslawschool
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Re: Serious question - inability to pay early decision

Postby girlmeetslawschool » Mon Jan 25, 2010 10:47 pm

Halibut6 wrote:Unless this school you applied ED to was called Yale, Harvard or Stanford, don't expect need-based aid from any law school. Need-based LS aid is called subsidized stafford loans. Did you investigate the choice to go to law school and financing such before you applied?


it wasn't HYS, but it was very very close....
yes i did research. i wouldn't be getting merit-based. and i wouldn't get NEED-based awards from other schools? um...i disagree.

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vanwinkle
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Re: Serious question - inability to pay early decision

Postby vanwinkle » Mon Jan 25, 2010 10:47 pm

Halibut6 wrote:Unless this school you applied ED to was called Yale, Harvard or Stanford, don't expect need-based aid from any law school. Need-based LS aid is called subsidized stafford loans. Did you investigate the choice to go to law school and financing such before you applied?

HYS don't have ED programs, I don't think. (I once told someone to ED to Harvard and got jumped on by everybody. :oops: )

Also, OP, you should withdraw immediately from all schools you applied to other than the ED school. You can get dinged for not doing so. The ED contract usually requires you to withdraw all other apps once accepted.

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Vincent Vega
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Re: Serious question - inability to pay early decision

Postby Vincent Vega » Mon Jan 25, 2010 10:48 pm

girlmeetslawschool wrote:
Halibut6 wrote:Unless this school you applied ED to was called Yale, Harvard or Stanford, don't expect need-based aid from any law school. Need-based LS aid is called subsidized stafford loans. Did you investigate the choice to go to law school and financing such before you applied?


it wasn't HYS, but it was very very close....
yes i did research. i wouldn't be getting merit-based. and i wouldn't get NEED-based awards from other schools? um...i disagree.


Well, I disagree with you. On the most part, at least. I would be extremely surprised if you got need-based aid from a non-HYS, unless you have a significantly disadvantaged background.

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vanwinkle
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Re: Serious question - inability to pay early decision

Postby vanwinkle » Mon Jan 25, 2010 10:49 pm

girlmeetslawschool wrote:it wasn't HYS, but it was very very close....
yes i did research. i wouldn't be getting merit-based. and i wouldn't get NEED-based awards from other schools? um...i disagree.

HYS are the only ones that truly offer need-based grants. All other schools have smaller endowments and only really offer scholarships/grants as merit aid to those students they want to attract and then give loans to everyone else.

Regardless, everyone keeps telling you that it's too late for this decision, you're going to the school you ED'd to or you're not going to have a career as a lawyer, period.

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Vincent Vega
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Re: Serious question - inability to pay early decision

Postby Vincent Vega » Mon Jan 25, 2010 10:49 pm

vanwinkle wrote:
Halibut6 wrote:Unless this school you applied ED to was called Yale, Harvard or Stanford, don't expect need-based aid from any law school. Need-based LS aid is called subsidized stafford loans. Did you investigate the choice to go to law school and financing such before you applied?

HYS don't have ED programs, I don't think. (I once told someone to ED to Harvard and got jumped on by everybody. :oops: )

Also, OP, you should withdraw immediately from all schools you applied to other than the ED school. You can get dinged for not doing so. The ED contract usually requires you to withdraw all other apps once accepted.


Ha - never looked into EDing to HYS, I guess. I did so to Mich and was turned away, sadly.

girlmeetslawschool
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Re: Serious question - inability to pay early decision

Postby girlmeetslawschool » Mon Jan 25, 2010 10:50 pm

vanwinkle wrote:
Halibut6 wrote:Unless this school you applied ED to was called Yale, Harvard or Stanford, don't expect need-based aid from any law school. Need-based LS aid is called subsidized stafford loans. Did you investigate the choice to go to law school and financing such before you applied?

HYS don't have ED programs, I don't think. (I once told someone to ED to Harvard and got jumped on by everybody. :oops: )

Also, OP, you should withdraw immediately from all schools you applied to other than the ED school. You can get dinged for not doing so. The ED contract usually requires you to withdraw all other apps once accepted.


ha ha, vanwinkle - that's the funny thing! I did! i sent out letters in december, and i was very surprised when i got 3 more acceptances and some scholarship notifications. I only got one or two acknowledgements of my letter that said something like "thank you for informing us..." it's weird because school B was one of the ones i sent the letter to - over a month ago.
I know i am pretty much sticking with school A - but i am just toying with this idea. it's kind of a hypothetical - "what if". I was just freaking out that i got into school B!

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Kiersten1985
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Re: Serious question - inability to pay early decision

Postby Kiersten1985 » Mon Jan 25, 2010 10:50 pm

girlmeetslawschool wrote:
Halibut6 wrote:Unless this school you applied ED to was called Yale, Harvard or Stanford, don't expect need-based aid from any law school. Need-based LS aid is called subsidized stafford loans. Did you investigate the choice to go to law school and financing such before you applied?


it wasn't HYS, but it was very very close....
yes i did research. i wouldn't be getting merit-based. and i wouldn't get NEED-based awards from other schools? um...i disagree.


But you clearly didn't. If you did, you would have thought through this potential situation and not gone ED.

It doesn't matter what other schools give you - you waive the right to even see what they would give you when you sign the ED contract.

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vanwinkle
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Re: Serious question - inability to pay early decision

Postby vanwinkle » Mon Jan 25, 2010 10:51 pm

girlmeetslawschool wrote:ha ha, vanwinkle - that's the funny thing! I did! i sent out letters in december, and i was very surprised when i got 3 more acceptances and some scholarship notifications. I only got one or two acknowledgements of my letter that said something like "thank you for informing us..." it's weird because school B was one of the ones i sent the letter to - over a month ago.
I know i am pretty much sticking with school A - but i am just toying with this idea. it's kind of a hypothetical - "what if". I was just freaking out that i got into school B!

Send school B a notification that you are withdrawing because you were accepted ED to school A and are honoring that binding contract. Send it by E-mail to their admissions office. Do it now.

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Vincent Vega
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Re: Serious question - inability to pay early decision

Postby Vincent Vega » Mon Jan 25, 2010 10:51 pm

Why don't you just tell us the schools in question. I feel like I am in a spelling bee.

girlmeetslawschool
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Re: Serious question - inability to pay early decision

Postby girlmeetslawschool » Mon Jan 25, 2010 10:53 pm

Halibut6 wrote:Why don't you just tell us the schools in question. I feel like I am in a spelling bee.


no! because this is just a hypothetical! :)

09042014
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Re: Serious question - inability to pay early decision

Postby 09042014 » Mon Jan 25, 2010 10:53 pm

girlmeetslawschool wrote:
Halibut6 wrote:Unless this school you applied ED to was called Yale, Harvard or Stanford, don't expect need-based aid from any law school. Need-based LS aid is called subsidized stafford loans. Did you investigate the choice to go to law school and financing such before you applied?


it wasn't HYS, but it was very very close....
yes i did research. i wouldn't be getting merit-based. and i wouldn't get NEED-based awards from other schools? um...i disagree.


Need based aid = loans.

Also hit the shit key for fucks sake.
Last edited by 09042014 on Mon Jan 25, 2010 10:56 pm, edited 1 time in total.




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