Paying for law/med school

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For those who are full pay for undergrad, will you make your DC use loans to pay for law or med school or help them out? Both DCs talking about law/med, and we hadn’t planned for this. Because of our income they won’t qualify for aid.

Can't they be declared independent for grad school and apply for loans that don't reflect your finances? I think it is increasingly becoming popular to work for a year or two, particularly before law school, which would make this even easier (plus they could save up a little bit, though probably not much).

If they are married, otherwise colleges factor in parental income.

if they are married and over 26, otherwise parental income counts.

Not for Harvard. Between ages 26 and 28, Harvard’s financial aid office will “consider a reduction parental assets” in its equation, but by no means is the parent off the hook. Ask me how I know.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don’t know if school policies have changed, but when DH went to ivy law school the financial aid application required parents’ info if student hadn’t been financially independent for at least 7 years. So school expected parents to help pay.

Nope. Not any more. There are scholarships for the brightest of the bright at all law schools these days. They will pay for the right stats no matter what your income.

Yeah, but if they are trying to up the stats by funding merit aide scholarships with the tuition from average students then what happens when the average student can’t take out loans to fund it? If those scholarships are funded via donations the I assume they are fine.

Incorrect. It’s a Seller’s market today for law schools. For example, Harvard, where I attended and DD just started, doesn’t offer any merit aid. https://hls.harvard.edu/sfs/prospective-and-admitted-students/prospective-and-admitted-need-based-aid-philosophy/. DD applied to 8 law schools and was not offered any merit aid notwithstanding top GPA, LSAT and a D.Phil from Oxbridge. When merit IS offered, it is to lure a URM away from attending another top Law school. Now, if you want to drop
Down to T40 schools you might get half-tuition or full tuition but only if the applicant has something that that law school wants.

I would argue this starts at least in the second 1/2 of the T14.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don’t know if school policies have changed, but when DH went to ivy law school the financial aid application required parents’ info if student hadn’t been financially independent for at least 7 years. So school expected parents to help pay.

Nope. Not any more. There are scholarships for the brightest of the bright at all law schools these days. They will pay for the right stats no matter what your income.

Yeah, but if they are trying to up the stats by funding merit aide scholarships with the tuition from average students then what happens when the average student can’t take out loans to fund it? If those scholarships are funded via donations the I assume they are fine.

Incorrect. It’s a Seller’s market today for law schools. For example, Harvard, where I attended and DD just started, doesn’t offer any merit aid. https://hls.harvard.edu/sfs/prospective-and-admitted-students/prospective-and-admitted-need-based-aid-philosophy/. DD applied to 8 law schools and was not offered any merit aid notwithstanding top GPA, LSAT and a D.Phil from Oxbridge. When merit IS offered, it is to lure a URM away from attending another top Law school. Now, if you want to drop
Down to T40 schools you might get half-tuition or full tuition but only if the applicant has something that that law school wants.

This is not exactly true - for top stats all law schools except for HYS offer various major scholarships for merit with no thought of how much your parents make - this includes Penn, Chicago, Columbia, Duke, UVA and all the others. Our DS took one of these and graduated with no debt- scholarships like these look great on resumes too.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For those who are full pay for undergrad, will you make your DC use loans to pay for law or med school or help them out? Both DCs talking about law/med, and we hadn’t planned for this. Because of our income they won’t qualify for aid.

Can't they be declared independent for grad school and apply for loans that don't reflect your finances? I think it is increasingly becoming popular to work for a year or two, particularly before law school, which would make this even easier (plus they could save up a little bit, though probably not much).

If they are married, otherwise colleges factor in parental income.

if they are married and over 26, otherwise parental income counts.

Not for Harvard. Between ages 26 and 28, Harvard’s financial aid office will “consider a reduction parental assets” in its equation, but by no means is the parent off the hook. Ask me how I know.

You would love that wouldn't you? Go ahead, tell us how... Surprise us.

[Anonymous]

If you make less than $150k is there need based aid for medical school?

[Anonymous]

Anonymous wrote:If you make less than $150k is there need based aid for medical school?

no but you can get loans.

[Anonymous]

My kid with T14 stats but no hook and straight out of undergrad got nearly a full scholarship from a top 20 recently. We paid the rest.

They did get into a T14 but decided they didn’t want to start out with nearly $200,000 in debt.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If I can I will help out. And if I can get them through their education with no loans I will do that.

Same.

+1

And if they can live with us for free, we are good with that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Law/med/any grad school/Phd/MBA

We will pay for all. Not super rich but we have lived a frugal lifestyle to give leg-up to our kids. Education is on us.

Well, good for you and it's your money but it's also stupid. You can give your kids a "leg up" in plenty of other ways. You don't have to pay for every cent of a decades long education to do it.

No, it is not stupid at all. Especially, if you have raised great kids and given them many "leg ups". It is a waste only if you have raised substandard kids or have created a poor dysfunctional family life for them. Don't have children if you will give them a bad life.

We have given many leg ups to our children - starting from a functional, intact and happy family life, highly educated parents, loving and supportive extended family, extensive and close-knit social network, emphasis on education, healthy lifestyle, adulting skills, trilingual education, exposure to multiple cultures and travel, no abuse/addiction/adultry in family, treating all kids equally, having only two children.

So, selfish parents are quick to have sex and create children but are reluctant to pay for education? Use a condom if you cannot support your children to get the an education for a good career.

K-12 is free education in public schools, so there is zero reasons for parents to not pay for undergrad, grad and post grad education. What else have they paid for their kids? Basic needs are fulfilled by every parent. That is not the end all.

Agree.

Yep will pay if they don't other wise have scholarship. It's my right and duty as a parent. Stupid would be NOT paying for this if you can afford it. What am I going to do with the extra money anyway and what better use for it than my kid's education so they can graduate debt free. Why pay interest to a lender if we as a family don't have to. Would rather keep that interest and build family wealth.

Also so what if kid only wants to go to law school because that's how they can get gainful employment. That is as good a reason as any to go and regardless of reason, I as a parent would pay.

To a different PP - med school is NOT a "rich person profession" where most kids are paying cash. That's just a lie.

I can't understand the families who can affort to pay but don't. Seems rather illogical and a poor financial decision.

What if the difference is cushy retirement vs struggling in retirement

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For those who are full pay for undergrad, will you make your DC use loans to pay for law or med school or help them out? Both DCs talking about law/med, and we hadn’t planned for this. Because of our income they won’t qualify for aid.

Can't they be declared independent for grad school and apply for loans that don't reflect your finances? I think it is increasingly becoming popular to work for a year or two, particularly before law school, which would make this even easier (plus they could save up a little bit, though probably not much).

If they are married, otherwise colleges factor in parental income.

if they are married and over 26, otherwise parental income counts.

Not for Harvard. Between ages 26 and 28, Harvard’s financial aid office will “consider a reduction parental assets” in its equation, but by no means is the parent off the hook. Ask me how I know.

You would love that wouldn't you? Go ahead, tell us how... Surprise us.

I guess you’ve never heard of a rhetorical statement

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don’t know if school policies have changed, but when DH went to ivy law school the financial aid application required parents’ info if student hadn’t been financially independent for at least 7 years. So school expected parents to help pay.

Nope. Not any more. There are scholarships for the brightest of the bright at all law schools these days. They will pay for the right stats no matter what your income.

Yeah, but if they are trying to up the stats by funding merit aide scholarships with the tuition from average students then what happens when the average student can’t take out loans to fund it? If those scholarships are funded via donations the I assume they are fine.

Incorrect. It’s a Seller’s market today for law schools. For example, Harvard, where I attended and DD just started, doesn’t offer any merit aid. https://hls.harvard.edu/sfs/prospective-and-admitted-students/prospective-and-admitted-need-based-aid-philosophy/. DD applied to 8 law schools and was not offered any merit aid notwithstanding top GPA, LSAT and a D.Phil from Oxbridge. When merit IS offered, it is to lure a URM away from attending another top Law school. Now, if you want to drop
Down to T40 schools you might get half-tuition or full tuition but only if the applicant has something that that law school wants.

This is not exactly true - for top stats all law schools except for HYS offer various major scholarships for merit with no thought of how much your parents make - this includes Penn, Chicago, Columbia, Duke, UVA and all the others. Our DS took one of these and graduated with no debt- scholarships like these look great on resumes too.

But almost all of those go to URM students. My DD used an online service recommended by her LSAT tutor which laid this out via self-reporting from students who used the service. (The schools themselves don’t want to acknowledge this). There might be a few merit scholarships in the T14 for the perfect 800 but schools like Harvard already get enough applicants with 800s so doesn’t need to offer merit at all. I’m getting the name of the service from her and will post back.

[Anonymous]

My DD was offered a full tuition scholarship at GMU/Scalia Law but nowhere else. GMU is now ranked 31. She has two Oxbridge degrees, great college GPA-and a 175. White. She picked a T4 (no merit) with our blessings. But her friends with weaker LSATs and record had to drop down to T4Os to pick up half or full tuition scholarships.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don’t know if school policies have changed, but when DH went to ivy law school the financial aid application required parents’ info if student hadn’t been financially independent for at least 7 years. So school expected parents to help pay.

Nope. Not any more. There are scholarships for the brightest of the bright at all law schools these days. They will pay for the right stats no matter what your income.

Yeah, but if they are trying to up the stats by funding merit aide scholarships with the tuition from average students then what happens when the average student can’t take out loans to fund it? If those scholarships are funded via donations the I assume they are fine.

Incorrect. It’s a Seller’s market today for law schools. For example, Harvard, where I attended and DD just started, doesn’t offer any merit aid. https://hls.harvard.edu/sfs/prospective-and-admitted-students/prospective-and-admitted-need-based-aid-philosophy/. DD applied to 8 law schools and was not offered any merit aid notwithstanding top GPA, LSAT and a D.Phil from Oxbridge. When merit IS offered, it is to lure a URM away from attending another top Law school. Now, if you want to drop
Down to T40 schools you might get half-tuition or full tuition but only if the applicant has something that that law school wants.

This is not exactly true - for top stats all law schools except for HYS offer various major scholarships for merit with no thought of how much your parents make - this includes Penn, Chicago, Columbia, Duke, UVA and all the others. Our DS took one of these and graduated with no debt- scholarships like these look great on resumes too.

But almost all of those go to URM students. My DD used an online service recommended by her LSAT tutor which laid this out via self-reporting from students who used the service. (The schools themselves don’t want to acknowledge this). There might be a few merit scholarships in the T14 for the perfect 800 but schools like Harvard already get enough applicants with 800s so doesn’t need to offer merit at all. I’m getting the name of the service from her and will post back.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don’t know if school policies have changed, but when DH went to ivy law school the financial aid application required parents’ info if student hadn’t been financially independent for at least 7 years. So school expected parents to help pay.

Nope. Not any more. There are scholarships for the brightest of the bright at all law schools these days. They will pay for the right stats no matter what your income.

Yeah, but if they are trying to up the stats by funding merit aide scholarships with the tuition from average students then what happens when the average student can’t take out loans to fund it? If those scholarships are funded via donations the I assume they are fine.

Incorrect. It’s a Seller’s market today for law schools. For example, Harvard, where I attended and DD just started, doesn’t offer any merit aid. https://hls.harvard.edu/sfs/prospective-and-admitted-students/prospective-and-admitted-need-based-aid-philosophy/. DD applied to 8 law schools and was not offered any merit aid notwithstanding top GPA, LSAT and a D.Phil from Oxbridge. When merit IS offered, it is to lure a URM away from attending another top Law school. Now, if you want to drop
Down to T40 schools you might get half-tuition or full tuition but only if the applicant has something that that law school wants.

This is not exactly true - for top stats all law schools except for HYS offer various major scholarships for merit with no thought of how much your parents make - this includes Penn, Chicago, Columbia, Duke, UVA and all the others. Our DS took one of these and graduated with no debt- scholarships like these [b]look great on resumes too.

[/b]


But almost all of those go to URM students. My DD used an online service recommended by her LSAT tutor which laid this out via self-reporting from students who used the service. (The schools themselves don’t want to acknowledge this). There might be a few merit scholarships in the T14 for the perfect 800 but schools like Harvard already get enough applicants with 800s so doesn’t need to offer merit at all. I’m getting the name of the service from her and will post back.

My bad. Meant perfect 180

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For those who are full pay for undergrad, will you make your DC use loans to pay for law or med school or help them out? Both DCs talking about law/med, and we hadn’t planned for this. Because of our income they won’t qualify for aid.

Can't they be declared independent for grad school and apply for loans that don't reflect your finances? I think it is increasingly becoming popular to work for a year or two, particularly before law school, which would make this even easier (plus they could save up a little bit, though probably not much).

If they are married, otherwise colleges factor in parental income.

if they are married and over 26, otherwise parental income counts.

Not for Harvard. Between ages 26 and 28, Harvard’s financial aid office will “consider a reduction parental assets” in its equation, but by no means is the parent off the hook. Ask me how I know.

You would love that wouldn't you? Go ahead, tell us how... Surprise us.

I guess you’ve never heard of a rhetorical statement

No but have heard “senselessly bragging mom”