2. Overview
• What is Financial Aid?
• Completing the FAFSA
• Federal Loans
• Scholarships
• Expected Costs
• Budgeting & Planning
• Q &A
3. What Is Financial Aid?
• Financial Aid is any form of
financial assistance including:
Federal Direct Unsubsidized loan
Federal Direct Grad PLUS loan
Scholarships & Grants
4. Completing the FAFSA
• 2013-2014 FAFSA at fafsa.gov
• Register for a PIN #
• Utilize the 2012 IRS 1040 and
W-2’s
• Provide only the law student’s
information
• LUC School Code 001710
5. Federal Loans
• Federal Direct Loan • Federal Grad PLUS
• Unsubsidized • 7.9% Fixed
• 6.8 % Fixed Interest Rate
Interest Rate • 6 Month Grace
• 6 Month Grace Period
Period • Minimal
• 5 Repayment Qualification
Options Requirements
• 5 Repayment
Options
6. Scholarships & Grants
• More than 80% of Incoming 1Ls
• Merit Scholarships
• LUC Law Grants
• Outside Scholarships
7. Direct Loan Program
• Complete MPN on studentloans.gov
• Complete Loan Entrance
Counseling
• Funds Arrive Prior to Start of Class
9. Budgeting & Planning
• Annualcreditreport.com
• Assessing Your Resources
• Determine Total Cost of Education
• Responsible Cost of Living Expenses
• Additional Costs for Summer Courses, Study
Abroad, Unpaid Internship?
• Expected Salary After Graduation
• Paying Off Your Debt
• finaid.org/calculators
Moving expenses not covered. Funds arrive on the first day of class. Need money for first month rent, books, etc. Tuition is only going up 3% and make sure you check the budgets of all the schools you are considering.
Expected Salary After Graduation – High, Med, Low.