How is financial aid affected to law school when married?

Question

in general terms what could i expect to change if i got married in law school and the income from my mother to my wife changed increased only 7 to ten thousand. If i was retained as a dependant of my mother i would be one of two kids in school.

Answer 1

Man, that's confusing. I'll take a stab at it.

Once you marry, your financial aid classification changes automatically from dependent to independent. That change will take effect in the next academic year that begins after your marriage.

As a law school student, you do not qualify for Pell Grants, so your EFC score (which would change) will only impact your eligibility for Perkins Loans and Federal Work-Study, both of which are available to graduate students with "exceptional need". Your new EFC score will entirely determine whether you gain, lose or retain eligibility for those programs.

If your financial aid comes in the form of Stafford Loans, your change of dependency status would make you eligible to borrow MORE money from the Stafford - I'm assuming you've been classified as a dependent until now.

If you are borrowing from the Graduate/Professional PLUS program, your dependency status is not relevant to the determination of your borrowing limits. If you have not been borrowing from the PLUS program up until now, you should investigate that, because PLUS loans are based on a credit evaluation, and your new married household income may make you eligible for an attractive PLUS loan.

So - long story short - you can't elect to "retain' your dependency status. You must file the next year's FAFSA as a married student, and your EFC calculation will be based entirely on the financial circumstances and demographics of you and your wife. That shouldn't have a dramatic effect on the financial aid eligibility of a graduate/professional student such as yourself. If anything, it is likely to increase your ability to borrow.

I hope that helped - good luck!