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Assuming that you can't be expected to pay anything, and neither can your parents, will financial aid cover everything for you (just like the HYS undergrad schools would)?

boomah wrote:Assuming that you can't be expected to pay anything, and neither can your parents, will financial aid cover everything for you (just like the HYS undergrad schools would)?

lol no

the max aid will get you to about $150k cost of attendance

Harvard costs like $120k if you get the max financial aid. Dunno about YS but I assume it would be similar.

Yale's maximum grant for a single person with no dependents is $35,000/year. So you still have to take out about $40k in loans.

boomah wrote:Assuming that you can't be expected to pay anything, and neither can your parents, will financial aid cover everything for you (just like the HYS undergrad schools would)?

you can ALWAYS be expected to take out loans

yaaaaaay

arklaw13 wrote:Harvard costs like $120k if you get the max financial aid. Dunno about YS but I assume it would be similar.

If you pay cash, then it would be in that range, probably more $125-130 w/ tuition increases. But if you are loaning, then interest + origination fees would push your COA over $150K w/ max aid over three years*.

*also, my understanding is that your package would not unlikely remain at max after 2L SA.

It's worth nothing that financial aid packages at HYS are not all the same and not even necessarily comparable, depending on the student. Each school uses different formulas and factors.

HLS offered me no aid at all. SLS offered me the max fin aid package. This is sort of an extreme example because of my parents' slightly bizarre financial situation, but it happens.

Edit: I do think the $40k contribution rule applies to all three, with small variations on the maximum possible aid package dependent on each school's student budget.

What kind of situation does one need to be in to get a ton of financial aid?

The financial aid is not as generous as the guaranteed $160K job you can get after graduating from HYS, but I'm sure you'll make due.

Ohiobumpkin wrote:The financial aid is not as generous as the guaranteed $160K job you can get after graduating from HYS, but I'm sure you'll make due.

Which is why HYS "need aid" should be replaced by a more generous LRAP for private practice.

Seoulless wrote:What kind of situation does one need to be in to get a ton of financial aid?

Middle class

how much could I theoretically be looking at?

arklaw13 wrote:Harvard costs like $120k if you get the max financial aid. Dunno about YS but I assume it would be similar.

Where are you getting this from?

Seoulless wrote:

arklaw13 wrote:Harvard costs like $120k if you get the max financial aid. Dunno about YS but I assume it would be similar.

Where are you getting this from?

http://law.harvard.edu/current/sfs/poli ... aging.html

Base loan is $44k per year. So your minimum out of pocket expense is $132k.

Seoulless wrote:

Cicero76 wrote:

Seoulless wrote:What kind of situation does one need to be in to get a ton of financial aid?

Middle class

So If I am making around 30 a year, too old for parents salary to be taken into account, how much could I theoretically be looking at?

Each of HYS does it differently. From my understanding of the H system, your grant amount would vary depending on how much you have saved up; S seems to be based more on past earnings.
(Yes, this does create an incentive to spend your money stuff to minimize your assets before the application cycle IF you have the numbers to reasonably expect to get into HLS)

heythatslife wrote: (Yes, this does create an incentive to spend your money stuff to minimize your assets before the application cycle IF you have the numbers to reasonably expect to get into HLS)

Thanks. I really wish there was more transparency to all of this. They have 40000 pages PDFs but they can't give us a simple calculator to estimate financial reward.

arklaw13 wrote:

Seoulless wrote:

arklaw13 wrote:Harvard costs like $120k if you get the max financial aid. Dunno about YS but I assume it would be similar.

Where are you getting this from?

http://law.harvard.edu/current/sfs/poli ... aging.html

Base loan is $44k per year. So your minimum out of pocket expense is $132k.

Interest capitalizes during all three years though, and tuition Keeps going up. Probably $140k is a better estimate of the minimum. It's pretty close to what I'll have experienced.

arklaw13 wrote:
Base loan is $44k per year. So your minimum out of pocket expense is $132k.

Something isn't adding up. According to their ABA 509, 11 people got more than full tuition each year. There is no way these people have taken out 132 k?


http://hls.harvard.edu/content/uploads/ ... t20132.pdf

Seoulless wrote:

arklaw13 wrote:
Base loan is $44k per year. So your minimum out of pocket expense is $132k.

Something isn't adding up. According to their ABA 509, 11 people got more than full tuition each year. There is no way these people have taken out 132 k?


http://hls.harvard.edu/content/uploads/ ... t20132.pdf

1. Max grant in the financial aid package is something like 35k. But it's conceivable that a handful of people received a combination of restricted scholarships* + summer/winter funding in addition to their SFS award that pushed their total grant above the tuition amount.

2. 44k/year loan requirement is intended to cover cost of living and various other expenses (e.g. insurance, books) as well. So even if your grant somehow met the tuition in its entirety (see above), you're still looking at 25k/year in loans.

*Restricted scholarships are given to those who meet certain criteria that are not merit-based. Like you have to be affiliated with certain organizations or descended from some person/tribe.

Seoulless wrote:

arklaw13 wrote:
Base loan is $44k per year. So your minimum out of pocket expense is $132k.

Something isn't adding up. According to their ABA 509, 11 people got more than full tuition each year. There is no way these people have taken out 132 k?


http://hls.harvard.edu/content/uploads/ ... t20132.pdf

When you have a family, they increase your cost of living and increase your grants proportionally to cover that. So there are some people who are getting $50k+ in grants, but they for the most part have wives/husbands and multiple kids.

Seoulless wrote:

arklaw13 wrote:
Base loan is $44k per year. So your minimum out of pocket expense is $132k.

Something isn't adding up. According to their ABA 509, 11 people got more than full tuition each year. There is no way these people have taken out 132 k?


http://hls.harvard.edu/content/uploads/ ... t20132.pdf

There are some general scholarships, for example for people coming from a commonwealth country, that HLS students can apply for. I am sure these make up those numbers.

Ah nice. Need to look into those. I have commonwealth citizenship. Any idea if dual citizenship negates that? Looking into it now, but please share any personal experience if you like.