First off, federal work study and law school funding might not be the best option for you so please be very careful when deciding to apply for these funding sources. I explained this at my presentation and this warning appears in the slides but this concept is so important, I want to repeat it here.
Before accepting federal work study funds, please note that if you are borrowing up to the cost of attendance, you will reduce your loan eligibility next year.
By taking out federal work study for the summer, you will not be able to borrow as much as you otherwise would.
To put it another way, if you are relying on loans to fund your tuition and living expenses for law school next year, please take a close look at how taking out federal work study funding for summer will impact your loans. Be sure to double check the numbers and make certain that you are 100% clear on how your loan eligibility for next year will be impacted.
Finding out that you cannot not borrow as much as you thought you could and will be unable to meet your expenses would be a horrible situation to find yourself in. Please take precautions to avoid that.
As a reminder, federal work study is meant to be used to cover academic year expenses; not summer expenses. Technically, federal work study funds used for summer 2017 come out of your academic year expenses for the 2017-2018 academic year. You are absolutely permitted to use federal work study funds to fund your summer but I am explaining this concept so you understand why taking out federal work study funds for the summer may impact your loan eligibility for the following academic year. If you are unsure how using federal work study funds this summer will impact your loans, be sure to contact Financial Aid.
With that important warning in mind, Financial Aid has allocated the law school 130 federal work study slots.
This is obviously a big increase from the usual 90 slots we typically receive and we are hopeful that this will enable many students to fund their unpaid summer positions.
Due to these increased slots, the law school does not have an unlimited amount of the $1000 law school funding awards to give out anymore.
In the past, the law school has been able to fund $1000 in law school funding to all of the students applying for it but that has changed this year.
This means that the line for federal work study funding is now a line for both federal work study and law school funding. All applicants for both federal work study and law school get in line on a first come, first served basis. If you intend to apply only for law school funding, you must be one of the first 130 students to do so or there will not be any funds left for you.
So please turn in your student and agency agreements as soon as possible to maximize your chances of getting funding. As a reminder, last year, the law school had 90 federal work study slots and we filled them by April 2.
If you have any questions about agency and student agreements, requirements for receiving federal work study, and eligibility, please contact me. If you have any questions about how federal work study funding will impact your loan eligibility, please contact Financial Aid.