@momocarly I was just going to post that there is a situation where the ‘grad’ student can still be counted as an undergrad, as you described.
My nephew is doing that this year. He completed all requirements for his undergrad last May but stayed an undergrad so that he could still qualify for undergrad FA while he completes the masters. If at any time he wants to quit and just take his diploma he can, but while he’s in he gets the undergrad rates and he gets a state rebate on credits. He has no siblings in college so no benefit there. His parents still had to compete the FAFSA.
That wouldn’t be possible for law school.