Financing the LLM


jpc29

Good morning.

I am a 24 years old lawyer from Brazil. I just graduated in Law and was accepted in the Taxation LLM at GULC and UF.
I wonder if it is possible to find ways to finance this course throughout the academic year, since I already got US$45,000, but I am short approximately US$40,000. I can prove that I have the entire amount of money the universities require to send me the I-20 (US sends, but the universities intermediate), so I am able to enroll in the LLM. However, I cannot count on this money.
I was told for several people that already studied in the United States that it is possible to find alternatives once studying, but I would like to be confident about it to enroll at GULC or UF. If anyone here that has some experience or are passing through the same experience, I would be glad to here from you.

Thank you.

Good morning.

I am a 24 years old lawyer from Brazil. I just graduated in Law and was accepted in the Taxation LLM at GULC and UF.
I wonder if it is possible to find ways to finance this course throughout the academic year, since I already got US$45,000, but I am short approximately US$40,000. I can prove that I have the entire amount of money the universities require to send me the I-20 (US sends, but the universities intermediate), so I am able to enroll in the LLM. However, I cannot count on this money.
I was told for several people that already studied in the United States that it is possible to find alternatives once studying, but I would like to be confident about it to enroll at GULC or UF. If anyone here that has some experience or are passing through the same experience, I would be glad to here from you.

Thank you.
quote

Good morning.

I am a 24 years old lawyer from Brazil. I just graduated in Law and was accepted in the Taxation LLM at GULC and UF.
I wonder if it is possible to find ways to finance this course throughout the academic year, since I already got US$45,000, but I am short approximately US$40,000. I can prove that I have the entire amount of money the universities require to send me the I-20 (US sends, but the universities intermediate), so I am able to enroll in the LLM. However, I cannot count on this money.
I was told for several people that already studied in the United States that it is possible to find alternatives once studying, but I would like to be confident about it to enroll at GULC or UF. If anyone here that has some experience or are passing through the same experience, I would be glad to here from you.

Thank you.


Hi! I'm wondering, how's possible for you to state you have the money even though you don't have the whole amount? It's mandatory for your I-20 issuance to prove your financial capability with supporting documents. Can you take a national bank loan? I figure that's the only solution, because you can't work while studying.

<blockquote>Good morning.

I am a 24 years old lawyer from Brazil. I just graduated in Law and was accepted in the Taxation LLM at GULC and UF.
I wonder if it is possible to find ways to finance this course throughout the academic year, since I already got US$45,000, but I am short approximately US$40,000. I can prove that I have the entire amount of money the universities require to send me the I-20 (US sends, but the universities intermediate), so I am able to enroll in the LLM. However, I cannot count on this money.
I was told for several people that already studied in the United States that it is possible to find alternatives once studying, but I would like to be confident about it to enroll at GULC or UF. If anyone here that has some experience or are passing through the same experience, I would be glad to here from you.

Thank you. </blockquote>

Hi! I'm wondering, how's possible for you to state you have the money even though you don't have the whole amount? It's mandatory for your I-20 issuance to prove your financial capability with supporting documents. Can you take a national bank loan? I figure that's the only solution, because you can't work while studying.
quote
hoo89

Normally, schools don't require that you have the entire money to fund a programme by the time you apply and show your bank statements. For multiple years, they usually set the minimum amount to being able to cover your expenses for one calendar year. For LLMs, however, I'm not sure how much money you have to show you have initially, but school normally tell you what their minimum amount is.

The best way for an international student to make money while studying is to get a part-time job. Because you would be an F-1 student, your options are limited to on-campus work, although many universities consider working for professors, etc. on-campus work that can qualify you for an authorisation from the school to work.

I also know GULC has a financial aid section dedicated to incoming LLM students so you may want to check that.

As always, you always want to check with your university's international students office (name varies depending on the university but basically the University office that sends you your I-20) because they'll give you the run down a lot more thoroughly and tell you for sure what your options are.

Normally, schools don't require that you have the entire money to fund a programme by the time you apply and show your bank statements. For multiple years, they usually set the minimum amount to being able to cover your expenses for one calendar year. For LLMs, however, I'm not sure how much money you have to show you have initially, but school normally tell you what their minimum amount is.

The best way for an international student to make money while studying is to get a part-time job. Because you would be an F-1 student, your options are limited to on-campus work, although many universities consider working for professors, etc. on-campus work that can qualify you for an authorisation from the school to work.

I also know GULC has a financial aid section dedicated to incoming LLM students so you may want to check that.

As always, you always want to check with your university's international students office (name varies depending on the university but basically the University office that sends you your I-20) because they'll give you the run down a lot more thoroughly and tell you for sure what your options are.
quote
jpc29

hoo89, thank you for your answer. GULC requires us to prove that we have at least $87,000 for the year's expenses. I already have half of this There are some loans for latin americans that require us to be already enrolled. I should not count on this, but I do not have another option yet. That is why I asked about the possibility of funding the LLM while in the US.

Thanks again.

hoo89, thank you for your answer. GULC requires us to prove that we have at least $87,000 for the year's expenses. I already have half of this There are some loans for latin americans that require us to be already enrolled. I should not count on this, but I do not have another option yet. That is why I asked about the possibility of funding the LLM while in the US.

Thanks again.
quote
AleksLLM

@jpc29,
try Prodigy Finance. They provide student loans for foreign LLM students admitted to certain top US law schools. With no co-signer what is more important.
Unfortunately, they were unable to give me loan for a UF tax LLM . It looks like they concentrated on the school ranking rather then program ranking when picking schools for their loan program. But the GULC is ranked overall better so it should be in their list of eligible programs. Their interest rates are quite high staring from 8+% . But with no other choice left (at least for old graduates like me who do not qualify for Fullbright etc) it is almost the only alternative.

I am just curious, why choosing GULC over UF if they haven't offered you a scholarship? UF costs 40K less and they are both ranked top 2 in tax...

@jpc29,
try Prodigy Finance. They provide student loans for foreign LLM students admitted to certain top US law schools. With no co-signer what is more important.
Unfortunately, they were unable to give me loan for a UF tax LLM . It looks like they concentrated on the school ranking rather then program ranking when picking schools for their loan program. But the GULC is ranked overall better so it should be in their list of eligible programs. Their interest rates are quite high staring from 8+% . But with no other choice left (at least for old graduates like me who do not qualify for Fullbright etc) it is almost the only alternative.

I am just curious, why choosing GULC over UF if they haven't offered you a scholarship? UF costs 40K less and they are both ranked top 2 in tax...
quote
jpc29

AleksLLM, thank you for your comment.

I just received an e-mail from GULC offering me a partial scholarship. I also received a scholarship from UF of approximately $30,000.
I prefer GULC because of the opportunity of taking the NY BAR examination. Although I am not sure yet whether to stay in the US after the LLM or not, I would like to have the chance of choosing later, and I believe GULC offers more perspective regarding my decision.
Anyway, thank you for your comment. I already contacted Prodigy.

AleksLLM, thank you for your comment.

I just received an e-mail from GULC offering me a partial scholarship. I also received a scholarship from UF of approximately $30,000.
I prefer GULC because of the opportunity of taking the NY BAR examination. Although I am not sure yet whether to stay in the US after the LLM or not, I would like to have the chance of choosing later, and I believe GULC offers more perspective regarding my decision.
Anyway, thank you for your comment. I already contacted Prodigy.
quote
imnc

#1 You will have to show proof of SOME combination of funds to make up the 87k for the I20 to be issued. This is not a joke, US immigration law has penalties on schools that do not check sources of funds before issuing the I20.

#2 The visa officer may also ask or demand proof, as a failsafe for eager schools that issue I20 recklessly without doing diligence on students' funds.

#3 Once in opportunities for funds are very limited. You could try asking for funds for the second term of the year. Some schools like GW do indeed provide additional funds half way through the term but most law schools will refuse. They have a budget too and since they charge fees in advance there's little incentive to dole out more after the term has started. Your strongest moment is BEFORE you confirm your place or pay the tuition.

#1 You will have to show proof of SOME combination of funds to make up the 87k for the I20 to be issued. This is not a joke, US immigration law has penalties on schools that do not check sources of funds before issuing the I20.

#2 The visa officer may also ask or demand proof, as a failsafe for eager schools that issue I20 recklessly without doing diligence on students' funds.

#3 Once in opportunities for funds are very limited. You could try asking for funds for the second term of the year. Some schools like GW do indeed provide additional funds half way through the term but most law schools will refuse. They have a budget too and since they charge fees in advance there's little incentive to dole out more after the term has started. Your strongest moment is BEFORE you confirm your place or pay the tuition.
quote

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