Top Law Schools

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Outside and specialty scholarships, yo! Start applying.

echooo23 wrote:I'm unclear about how to pay for law school and would appreciate some clarity on whether the method for funding school would be in this order:

1. Merit-based scholarships awarded by the school (no repayment)
2. Need-based grants awarded by the school (no repayment)
3. Federal financial aid:
a. Perkins Loan: maximum of $5,000 per year only, but does not require repayment
b. Stafford Loan/Unsubsidized Direct Loan: up to $20,500, repayment at slightly lower interest rate
c. Grad Plus Loan: unsubsidized loan at a slightly higher interest rate than that of the Stafford, requires repayment
4. Private loans

Is this correct? Is there any other funding source I'm missing?

What is the interest rate of a Stafford Loan? Of the Grad Plus Loan?

What private loan options are there?

Sounds right. Not sure about the Perkins Loan.

Stafford: 6.8%
GP: 7.9%

Look at schools' websites for pvt options.

http://www.top-law-schools.com/funding- ... ation.html

use the search function...

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There are no Perkins loans for grad school.

cinephile wrote:There are no Perkins loans for grad school.

Fail, I have them for a G.

Mattalones wrote:

cinephile wrote:There are no Perkins loans for grad school.

Fail, I have them for a G.

Just checked it out, there's a lifetime max. So it depends on if you've already reached that (60k).

rad lulz wrote:Mom and dad. Don't any of you have money?

TCR.

Thanks!

cinephile wrote:

Mattalones wrote:

cinephile wrote:There are no Perkins loans for grad school.

Fail, I have them for a G.

Just checked it out, there's a lifetime max. So it depends on if you've already reached that (60k).

Also, you do have to pay them back.

Jaeger wrote: Also, you do have to pay [Perkins Loans] back.

You also don't have to destroy your credit by listening to this. Yes, you have to pay them back. They have an interest rate and a payment plan.

Mattalones wrote:

Jaeger wrote: Also, you do have to pay [Perkins Loans] back.

You also don't have to destroy your credit by listening to this. Yes, you have to pay them back. They have an interest rate and a payment plan.

You realize I said the same thing, right?

Are Grad PLUS and Stafford the same thing? If not, what's the max on Grad PLUS you can take out? B/c I know Stafford is $20500

puremorning wrote:Are Grad PLUS and Stafford the same thing? If not, what's the max on Grad PLUS you can take out? B/c I know Stafford is $20500

No, they're not.
You can take out enough Grad+ to cover up to the entire cost of attendance not covered by your other grants and loans. AFAIK, there is no limit.

puremorning wrote:Are Grad PLUS and Stafford the same thing? If not, what's the max on Grad PLUS you can take out? B/c I know Stafford is $20500

They are not the same thing. Grad PLUS's only limit is that they can be taken out up to the full cost of attendance at a given school.

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