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UG loans during law school. ALSO living expenses
Posted: Tue Oct 12, 2010 8:50 pm
by bostlaw
2 questions
1) If I graduate college with loan debt (hopefully I can have it paid off by graduation) but if so, do I still have to pay them off starting at 6 months after graduation even if I am attending law school full time? It was a federal loan.
2) I understand many law school give out financial aid and there are federal loans for tution. But besides the obvious (get a job) can you recieve loans for living expenses? Federal loans for living expenses? School grants? anything. Is it common?
Re: UG loans during law school. ALSO living expenses
Posted: Tue Oct 12, 2010 8:52 pm
by kalvano
bostlaw wrote:2 questions
1) If I graduate college with loan debt (hopefully I can have it paid off by graduation) but if so, do I still have to pay them off starting at 6 months after graduation even if I am attending law school full time? It was a federal loan.
2) I understand many law school give out financial aid and there are federal loans for tution. But besides the obvious (get a job) can you recieve loans for living expenses? Federal loans for living expenses? School grants? anything. Is it common?
1) No. Payment is suspended as long as you are enrolled in school.
2) Yes. Every school has a cost-of-living estimate that you take out what is called Grad-PLUS loans for. The PLUS loans will cover you for any excess tuition plus COL. You shouldn't work during 1L.
Re: UG loans during law school. ALSO living expenses
Posted: Tue Oct 12, 2010 8:54 pm
by DearCan
bostlaw wrote:2 questions
1) If I graduate college with loan debt (hopefully I can have it paid off by graduation) but if so, do I still have to pay them off starting at 6 months after graduation even if I am attending law school full time? It was a federal loan.
2) I understand many law school give out financial aid and there are federal loans for tution. But besides the obvious (get a job) can you recieve loans for living expenses? Federal loans for living expenses? School grants? anything. Is it common?
As for the first question, you can definitely defer your loan payments if you're in school full time.
On the second one I'm of the understanding that most people are able to get enough money to cover living expenses. Most 1L students don't work from what I'm gathering. Maybe someone will give you more insight into this than I'm able to.
Re: UG loans during law school. ALSO living expenses
Posted: Tue Oct 12, 2010 8:56 pm
by bostlaw
kalvano wrote:bostlaw wrote:2 questions
1) If I graduate college with loan debt (hopefully I can have it paid off by graduation) but if so, do I still have to pay them off starting at 6 months after graduation even if I am attending law school full time? It was a federal loan.
2) I understand many law school give out financial aid and there are federal loans for tution. But besides the obvious (get a job) can you recieve loans for living expenses? Federal loans for living expenses? School grants? anything. Is it common?
1) No. Payment is suspended as long as you are enrolled in school.
2) Yes. Every school has a cost-of-living estimate that you take out what is called Grad-PLUS loans for. The PLUS loans will cover you for any excess tuition plus COL. You shouldn't work during 1L.
thank you.
Re: UG loans during law school. ALSO living expenses
Posted: Wed Oct 27, 2010 3:52 pm
by GettingReady2010
kalvano wrote:bostlaw wrote:2 questions
1) If I graduate college with loan debt (hopefully I can have it paid off by graduation) but if so, do I still have to pay them off starting at 6 months after graduation even if I am attending law school full time? It was a federal loan.
2) I understand many law school give out financial aid and there are federal loans for tution. But besides the obvious (get a job) can you recieve loans for living expenses? Federal loans for living expenses? School grants? anything. Is it common?
1) No. Payment is suspended as long as you are enrolled in school.
2) Yes. Every school has a cost-of-living estimate that you take out what is called Grad-PLUS loans for. The PLUS loans will cover you for any excess tuition plus COL. You shouldn't work during 1L.
Will all Grad-Plus loans always FULLY cover tuition and COL?
Re: UG loans during law school. ALSO living expenses
Posted: Wed Oct 27, 2010 4:40 pm
by im_blue
GettingReady2010 wrote:kalvano wrote:bostlaw wrote:2 questions
1) If I graduate college with loan debt (hopefully I can have it paid off by graduation) but if so, do I still have to pay them off starting at 6 months after graduation even if I am attending law school full time? It was a federal loan.
2) I understand many law school give out financial aid and there are federal loans for tution. But besides the obvious (get a job) can you recieve loans for living expenses? Federal loans for living expenses? School grants? anything. Is it common?
1) No. Payment is suspended as long as you are enrolled in school.
2) Yes. Every school has a cost-of-living estimate that you take out what is called Grad-PLUS loans for. The PLUS loans will cover you for any excess tuition plus COL. You shouldn't work during 1L.
Will all Grad-Plus loans always FULLY cover tuition and COL?
yes