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Hey guys - I am doing law school comletely on my own, no help from other people in terms of the financial aid process. I was just hoping someone could let me know if I am going about understanding my loan situation correctly as if I am looking at things the wrong way, I need to know now! I tried to call the fin aid at my school but she seems very busy and takes awhile to get back so I would rather try on here first. Let me know guys - any advice is greatly apprecaited!

Also, my school has not put out their official COA but they did put out their projected amount and I got a projected fin aid packet so that is where i am getting all of my info:

COA: Off Campus/Resident $47,570 (not including Student Fees and Books which totals $4288 - does that get added into the COA? I took that as $23785/semester.

Scholarship: $8000 ($4000/Semester)
Stafford Loans: $20,500 ($10250/Semester)

So basically, after subtracting stafford and scholarship there is a difference of $9535/Semester - Is this what Sallie Mae would allow me to take out max per semester?

**Also, my school currently has me as out of state for residency but already said that they would allow me to change to instate for first year, do you believe this would affect my fin aid package at all?**

Thank you so much guys - I really appreciate it!

Yes, Sallie Mae, or any of a number of lenders will allow you to borrow up to the school's projected cost of attendance less any other financial aid. I would encourage you to look at Direct Loans Grad PLUS loan. It seems to have better repayment options than do Sallie Mae loans.

Also, anything that changes you COA will change your financial aid package.

The rest of your expenses should be covered by Grad PLUS loans. There is absolutely no reason to take out any private loans for law school. And yes the estimated cost of attendance sets the max in loans that you can take out. That's why this number is usually pretty inflated, and if you're only supporting yourself and don't live ridiculously extravagantly, you probably won't have to take out the full amount.

If you get in-state tuition, it will reduce the amount of loans you will have to take out, but it won't make it so that you can't take out the amount you need.

DocHawkeye wrote:Yes, Sallie Mae, or any of a number of lenders will allow you to borrow up to the school's projected cost of attendance less any other financial aid. I would encourage you to look at Direct Loans Grad PLUS loan. It seems to have better repayment options than do Sallie Mae loans.

Also, anything that changes you COA will change your financial aid package.

This, this, this. Sallie Mae is horrible. I owe them a pretty penny from undergrad, and they have been nothing but bullshit and runaround for years with deferrals, etc. Their customer service is absolutely awful. And I've never missed a payment.