Can anyone provide insight? Forum

[Htexasguy]

I'm a veteran living in Texas. My undergrad is paid for by the GI Bill. I graduate next May and am planning on law school. Texas has the Hazelwood act which covers tuition at public institutions; so tuition would be covered for law school..but I'm unfamiliar about paying for living expenses while I'm in school. Currently have a mortgage, 3 kids, etc.. Can I take out student loans to pay for mortgage, bills, etc?

[Tiago Splitter]

I'm a veteran living in Texas. My undergrad is paid for by the GI Bill. I graduate next May and am planning on law school. Texas has the Hazelwood act which covers tuition at public institutions; so tuition would be covered for law school..but I'm unfamiliar about paying for living expenses while I'm in school. Currently have a mortgage, 3 kids, etc.. Can I take out student loans to pay for mortgage, bills, etc?

Yep you can borrow up to the school's published costs for living expenses. So if the school estimates it will cost 20k per year for their students to live then you can borrow up to 20k. With kids you may even be able to borrow more.

[Htexasguy]

Yep you can borrow up to the school's published costs for living expenses. So if the school estimates it will cost 20k per year for their students to live then you can borrow up to 20k. With kids you may even be able to borrow more.

Thank you for the reply. Sorry if this next question seems redundant, but does that apply for both government and private loans?

[Tiago Splitter]

Yep you can borrow up to the school's published costs for living expenses. So if the school estimates it will cost 20k per year for their students to live then you can borrow up to 20k. With kids you may even be able to borrow more.

Thank you for the reply. Sorry if this next question seems redundant, but does that apply for both government and private loans?

I'd think so, although others can correct me if I'm wrong. The private lender may limit your loans based on your perceived ability to repay, but for purposes of determining the cost of attendance they'll use the same number published by each school.

[emkay625]

Yup, you can take out up to the COA, but not more. You may get a slight bump for childcare expenses.