| Will or can student loans cover extra money i would lose while not working when i attend law school?

Will or can student loans cover extra money i would lose while not working when i attend law school?

DexterMorgan asked:


I plan to attend law school in the fall of 08, but im worried about work getting in the way of school, but like everyone else, i have to pay bills. Not alot, but like my car note, phone bill, insurance, and spending cash for food whatever. I still live with my parents so all housing and most of my food is covered. What would i have to get more money?

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Comments

2 Responses to “Will or can student loans cover extra money i would lose while not working when i attend law school?”

  1. merrybodner on April 24th, 2009 8:18 pm

    A part-time job. Don’t complain — you’re living at home.

  2. tara k on April 26th, 2009 8:01 am

    You need to be really careful taking advice from non-lawyers on this one. The ABA says that, unless you’re in a part-time program, a first year law student cannot work at all, and after that only 20 hours a week is acceptable.

    Student loan providers allow you to borrow much more than the cost of school. You can borrow the “cost of living” amount. Law schools will figure in room, board, books, transportation, food, etc, and loan providers will give you up to that much. For example: my law school tuition was $27k/year. My cost of living adjustment was $45k-ish a year. Now the cost of living varies depending on where you are (I was D.C., so my cost of living was very high).

    Student loan providers will *not* verify that you are using your money in the appropriate manner (e.g. will not ensure that the $10k for room and board is actually being used for room and board). Therefore, you can take out the maximum, live with you parents, and use the extra loan monies to pay for your bills.