Need-based aid Forum

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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WaltGrace83

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Need-based aid

Post by WaltGrace83 » Wed Apr 16, 2014 8:17 pm

I searched and didn't find anything :? which is quite surprising. Maybe I wasn't searching correctly; I apologize if this is so. Can someone direct me to just some general information on how need-based aid works for law school? I know that you fill out FAFSA and all of that stuff you did in undergrad, but I don't know how it gets awarded, how much you can generally expect, if it depends on the school, etc. I will applying in either the 2014-15 cycle most likely. In undergrad, I was incredibly fortunate with my financial aid packages because I come from a one-parent household with a fairly low income but I doubt I'll be so lucky in law school.

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rinkrat19

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Re: Need-based aid

Post by rinkrat19 » Wed Apr 16, 2014 8:31 pm

It's not talked about much on TLS because outside of Harvard, Yale and Stanford, there is very little need-based aid in law school. A FEW schools will once in a while give some money to extremely poor people. Otherwise, you get merit aid scholarships, and loans for the rest of the cost of attendance. You can take out the full COA in loans if you don't get a scholarship.

You fill out FAFSA in January and you get scholarship offers from schools (some schools send out aid packages after FAFSA, while some tell you your scholarship award at the same time as admission). When you commit to a school, the financial aid office gets your fed loan money from the government and passes it on to you. The amount of loans you can take out is the total cost of attendance, as budgeted by the school, minus any scholarship award/GI Bill/etc.

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