Summer Financial Aid? Forum

[Torvon]

Anyone more familiar with the federal loan programs than I able to explain to me how most law schools handle summer loans? Specifically I'm looking at Georgetown, but I would imagine most or all law schools handle it the same. From what I understand the summer counts as part of the next fall and spring semesters for limits on financial aid for Stafford and such, but as long as I'm getting GradPLUS there isn't an annual limit, correct? (Aside from the student budget of course.) Do most schools come up with a student summer budget or is it the same as the PT budget for the regular school year?

Ideally I would get a good job during the summers to pay the bills, however I'm trying to come up with some kind of plan b, just because you never know ITE.

[flowylime]

Anyone more familiar with the federal loan programs than I able to explain to me how most law schools handle summer loans? Specifically I'm looking at Georgetown, but I would imagine most or all law schools handle it the same. From what I understand the summer counts as part of the next fall and spring semesters for limits on financial aid for Stafford and such, but as long as I'm getting GradPLUS there isn't an annual limit, correct? (Aside from the student budget of course.) Do most schools come up with a student summer budget or is it the same as the PT budget for the regular school year?

Ideally I would get a good job during the summers to pay the bills, however I'm trying to come up with some kind of plan b, just because you never know ITE.

Summer term typically is considered part of the previous school year's financial aid. So for example, the summer of 2010 would be considered part of the 09-10 school year. This can vary a bit depending on when summer classes start and the school you attend.

Either way, if you borrow the maximum amount in stafford loans during the fall/spring terms, you wouldn't be able to borrow any more in the summer (obvs). The school will come up with a summer budget, and you will be able to borrow a grad plus loan for living expenses and tuition/fees. Keep in mind that you will have be enrolled at least half-time to be eligible for the grad plus loan (usually about six credits).

[legalease9]

So if you loan out the entire 9-month budget all schools post on their website, can you get additional grad plus loans for summer?