Scholarships w/ Loans for Living Expenses...LRAP? Forum

[Ex Cearulo]

Scenario: Assume someone gets admitted to (insert very expensive law school) with a sizeable scholarship. They also have a wife and two children. Also assume that person will have to take out sizeable loans ($150-200k) just cover all living expenses for a family of 4 in an expensive city for three years.

Questions:
1) If a student has most of tuition paid for by the scholarship, can they still take out yearly federal loans up to the amount declared by the school to be the total yearly cost of living? Or are they capped at the difference between the scholarship and the total amount? (i.e. total declared yearly cost is $60k including $30k for tuition. If scholarship is for $30k and covers all tuition, can a person still take out up to $60k in federal loans, or can they only take out the $30k difference?)

2) Assuming a person qualifies for LRAP, will LRAP apply in situations where the federal loans are only used for living expenses, or is how the federal loans are used irrelevant to LRAP? Or is this completely dependent upon each school's specific LRAP stipulations?

[HellOnHeels]

Questions:
1) If a student has most of tuition paid for by the scholarship, can they still take out yearly federal loans up to the amount declared by the school to be the total yearly cost of living? Or are they capped at the difference between the scholarship and the total amount? (i.e. total declared yearly cost is $60k including $30k for tuition. If scholarship is for $30k and covers all tuition, can a person still take out up to $60k in federal loans, or can they only take out the $30k difference?)

2) Assuming a person qualifies for LRAP, will LRAP apply in situations where the federal loans are only used for living expenses, or is how the federal loans are used irrelevant to LRAP? Or is this completely dependent upon each school's specific LRAP stipulations?

You can only take out the cost of attendance minus scholarships. So if COA (tuition + living) is $60K, and you get a $30K scholarship that covers tuition, you can only take out $30K in loans.

No idea about the second question.

[arism87]

Yes, you can only take out the difference. LRAP applies to that regardless of how its spent. You can then apply for an increase and some schools are better about that than others. I would think supporting a family would be a good reason. However, LRAP will NOT cover the increase.