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 Post subject: Over $200,000 of Debt?
PostPosted: Mon Mar 23, 2009 10:26 pm 

Joined: Mon Mar 23, 2009 9:35 pm
Archived Posts: 10
Who else expects to have over $200,000 of loans to repay after finishing law school, including any debt incurred during college and/or graduate school? I'm looking at about $220,000 ($40,000 total during college and grad school and $60,000/year to pay for law school).

Please post the amount of debt that you expect to graduate with.


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Mon Mar 23, 2009 10:30 pm 

Joined: Fri Nov 21, 2008 3:47 pm
Archived Posts: 199
Loans...


Last edited by Cramble on Fri May 01, 2009 10:59 pm, edited 1 time in total.

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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Mon Mar 23, 2009 10:31 pm 

Joined: Sun Dec 07, 2008 2:41 am
Archived Posts: 1530
style96 wrote:
Who else expects to have over $200,000 of loans to repay after finishing law school, including any debt incurred during college and/or graduate school? I'm looking at about $220,000 ($40,000 total during college and grad school and $60,000/year to pay for law school).

Please post the amount of debt that you expect to graduate with.


I hope you're going to a good school at least.


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Mon Mar 23, 2009 10:31 pm 

Joined: Fri Jun 22, 2007 1:13 am
Archived Posts: 354
style96 wrote:
Who else expects to have over $200,000 of loans to repay after finishing law school, including any debt incurred during college and/or graduate school? I'm looking at about $220,000 ($40,000 total during college and grad school and $60,000/year to pay for law school).

Please post the amount of debt that you expect to graduate with.


Please tell me you are going to a T-14 with 60/yr.... otherwise :shock:

Me: No UG loans :D

~25k/yr for LS ... -ish


Last edited by AJaKe on Mon Mar 23, 2009 10:49 pm, edited 1 time in total.

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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Mon Mar 23, 2009 10:33 pm 

Joined: Thu Dec 11, 2008 11:43 am
Archived Posts: 5009
Went to a state school for UG, $0 debt.
Looking to keep LS under the $75k-$100k mark unless I can hit a T14.


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Mon Mar 23, 2009 10:35 pm 

Joined: Mon Dec 29, 2008 10:20 pm
Archived Posts: 321
me! 25k for undergrad plus the law school stuff.

we should start a support group. or co-author a badass screenplay. or rob a bank.

and yeah, this is if I go the T14 route. otherwise it'll be significantly less.


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Mon Mar 23, 2009 10:37 pm 

Joined: Sun May 18, 2008 4:28 pm
Archived Posts: 116
Me! Nothing from undergrad but looking at $70k/year coming up. Thank goodness for LRAP.


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Mon Mar 23, 2009 10:46 pm 

Joined: Mon Jun 16, 2008 7:05 pm
Archived Posts: 567
None for UG. I've already paid that off.

I figure these are my three options:

NYU - Roughly 200-210k (principal plus capitalized interest) at graduation.

UM - Roughly 150k (same as above).

Iowa - Roughly 30k.


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Mon Mar 23, 2009 11:02 pm 

Joined: Wed Mar 04, 2009 12:20 pm
Archived Posts: 278
I'll have about 65K from undergrad and grad, plus law school expenses. I'll be a CPA by the end of this summer (or next summer the latest), so the grad debt wasn't totally worthless. Word on the street is that JD/CPAs enjoy a boost when it comes to job hunting, so I'll be working my ass off and hoping for the best.

Does anyone have promising stories to share about JD/CPAs so I feel better about taking on such an obscene amount of debt? Anyone??


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Mon Mar 23, 2009 11:36 pm 

Joined: Wed Mar 04, 2009 12:20 pm
Archived Posts: 278
Nobody? Settle for the CPA, take the 65K and run?


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Mon Mar 23, 2009 11:43 pm 

Joined: Fri Dec 12, 2008 12:24 am
Archived Posts: 487
hoosier1508 wrote:
None for UG. I've already paid that off.

I figure these are my three options:

NYU - Roughly 200-210k (principal plus capitalized interest) at graduation.

UM - Roughly 150k (same as above).

Iowa - Roughly 30k.



That's about what i figured for NYU as well. I'm hoping a) I get some merit/need aid; and b) i'll have the self-control to put any earnings towards my loans after 1L and 2L summer work.


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Tue Mar 24, 2009 10:55 am 

Joined: Sat Oct 25, 2008 11:54 am
Archived Posts: 32
iceberger wrote:
hoosier1508 wrote:
None for UG. I've already paid that off.

I figure these are my three options:

NYU - Roughly 200-210k (principal plus capitalized interest) at graduation.

UM - Roughly 150k (same as above).

Iowa - Roughly 30k.



That's about what i figured for NYU as well. I'm hoping a) I get some merit/need aid; and b) i'll have the self-control to put any earnings towards my loans after 1L and 2L summer work.


+1 on everything about NYU. Mine are about the same: NYU - 200k+; GW - 30 or 40k ish; IUB - 0. Come on, NYU. Fork it over.


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Tue Mar 24, 2009 10:59 am 

Joined: Sat Jun 07, 2008 10:19 pm
Archived Posts: 2304
Probably around 90k maximum. I expect to have about half that, though.


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Tue Mar 24, 2009 11:03 am 

Joined: Thu Sep 14, 2006 1:57 am
Archived Posts: 924
including capitalized interest, I'll be around 200k under. i hear there are waterproof cardboard boxes now.


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Tue Mar 24, 2009 11:28 am 

Joined: Mon Jun 16, 2008 11:38 pm
Archived Posts: 1511
Me, just from law school alone!!!

:(

This is why I'm considering not going...


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Tue Mar 24, 2009 5:10 pm 

Joined: Thu Feb 28, 2008 10:44 am
Archived Posts: 762
$5k left from undergrad.
Expect $40k total law school debt. Top 20 private law school. (got a 6-digit scholly)


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Tue Mar 24, 2009 5:12 pm 

Joined: Wed Feb 18, 2009 10:16 pm
Archived Posts: 506
style96 wrote:
Who else expects to have over $200,000 of loans to repay after finishing law school, including any debt incurred during college and/or graduate school? I'm looking at about $220,000 ($40,000 total during college and grad school and $60,000/year to pay for law school).

Please post the amount of debt that you expect to graduate with.


I hear you. I am married and my wife is also going to grad school. We're looking at around 300k+ of debt.


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Tue Mar 24, 2009 5:14 pm 
Princess of Berkeley

Joined: Tue Jun 24, 2008 5:23 pm
Archived Posts: 1968
Barring any merit money, I'll be around 200k, probably slightly over. And then we'll be buying a house/condo. And my SO wants to get an MBA. Feeling dizzy.....


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Tue Mar 24, 2009 5:14 pm 

Joined: Wed Feb 18, 2009 10:16 pm
Archived Posts: 506
iceberger wrote:
hoosier1508 wrote:
None for UG. I've already paid that off.

I figure these are my three options:

NYU - Roughly 200-210k (principal plus capitalized interest) at graduation.

UM - Roughly 150k (same as above).

Iowa - Roughly 30k.



That's about what i figured for NYU as well. I'm hoping a) I get some merit/need aid; and b) i'll have the self-control to put any earnings towards my loans after 1L and 2L summer work.


Hate to burst your bubble, but the NYU rep who came to my school told me that less than 10% of 1Ls at NYU get a biglaw summer job. Most do PI that first summer, he said (said the school pays you $5k to do PI for the three months).


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Tue Mar 24, 2009 5:21 pm 

Joined: Mon Nov 24, 2008 1:11 am
Archived Posts: 4620
I'm looking at 22k per year, for the overall 66k-70k, courtesy of the half tuition scholarship at UMich, plus the fact that my SO will be taking care of COL.

And that still makes me nervous. I don't know what I'd do if I were looking at 150-200k in debt. :shock:


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Tue Mar 24, 2009 5:23 pm 

Joined: Tue Jul 08, 2008 12:53 am
Archived Posts: 204
I'm glad to know I'm not alone in taking on a ridiculous amount of debt. I'm married with a kid, so I'll probably end up with at least 100K, and maybe as much as 200K.


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Tue Mar 24, 2009 7:02 pm 

Joined: Mon Jun 16, 2008 7:05 pm
Archived Posts: 567
stevenr18 wrote:
iceberger wrote:
hoosier1508 wrote:
None for UG. I've already paid that off.

I figure these are my three options:

NYU - Roughly 200-210k (principal plus capitalized interest) at graduation.

UM - Roughly 150k (same as above).

Iowa - Roughly 30k.



That's about what i figured for NYU as well. I'm hoping a) I get some merit/need aid; and b) i'll have the self-control to put any earnings towards my loans after 1L and 2L summer work.


+1 on everything about NYU. Mine are about the same: NYU - 200k+; GW - 30 or 40k ish; IUB - 0. Come on, NYU. Fork it over.


How strongly are both of you considering NYU at over 200k? Part of me says what the hell, go for it. Another part says the additional debt over UM is not worth it considering the economy and the uncertainty of how the legal job market will rebound.


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Tue Mar 24, 2009 7:15 pm 

Joined: Tue Jan 01, 2008 6:43 pm
Archived Posts: 286
hoosier1508 wrote:
stevenr18 wrote:
iceberger wrote:
hoosier1508 wrote:
None for UG. I've already paid that off.

I figure these are my three options:

NYU - Roughly 200-210k (principal plus capitalized interest) at graduation.

UM - Roughly 150k (same as above).

Iowa - Roughly 30k.



That's about what i figured for NYU as well. I'm hoping a) I get some merit/need aid; and b) i'll have the self-control to put any earnings towards my loans after 1L and 2L summer work.


+1 on everything about NYU. Mine are about the same: NYU - 200k+; GW - 30 or 40k ish; IUB - 0. Come on, NYU. Fork it over.


How strongly are both of you considering NYU at over 200k? Part of me says what the hell, go for it. Another part says the additional debt over UM is not worth it considering the economy and the uncertainty of how the legal job market will rebound.


I'm in the same boat... Michigan gave me 1/3 tuition, but NYU prolly nothing. I guess we'll see in a few days when they send out the fin aid notices!


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Wed Mar 25, 2009 9:32 am 

Joined: Tue Feb 10, 2009 3:02 pm
Archived Posts: 34
hoosier1508 wrote:
stevenr18 wrote:
iceberger wrote:
hoosier1508 wrote:
None for UG. I've already paid that off.

I figure these are my three options:

NYU - Roughly 200-210k (principal plus capitalized interest) at graduation.

UM - Roughly 150k (same as above).

Iowa - Roughly 30k.



That's about what i figured for NYU as well. I'm hoping a) I get some merit/need aid; and b) i'll have the self-control to put any earnings towards my loans after 1L and 2L summer work.


+1 on everything about NYU. Mine are about the same: NYU - 200k+; GW - 30 or 40k ish; IUB - 0. Come on, NYU. Fork it over.


How strongly are both of you considering NYU at over 200k? Part of me says what the hell, go for it. Another part says the additional debt over UM is not worth it considering the economy and the uncertainty of how the legal job market will rebound.


I'm actually strongly considering NYU even without $...

How intellegent would it be to pay sticker for NYU when I can go ~100k in debt for GW and even like 40k in debt for a top 50? Especially when I have like 50k of undergrad/master's loans


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 Post subject: Re: Over $200,000 of Debt?
PostPosted: Wed Mar 25, 2009 9:45 am 

Joined: Sat Oct 25, 2008 11:54 am
Archived Posts: 32
hoosier1508 wrote:
stevenr18 wrote:
iceberger wrote:
hoosier1508 wrote:
None for UG. I've already paid that off.

I figure these are my three options:

NYU - Roughly 200-210k (principal plus capitalized interest) at graduation.

UM - Roughly 150k (same as above).

Iowa - Roughly 30k.



That's about what i figured for NYU as well. I'm hoping a) I get some merit/need aid; and b) i'll have the self-control to put any earnings towards my loans after 1L and 2L summer work.


+1 on everything about NYU. Mine are about the same: NYU - 200k+; GW - 30 or 40k ish; IUB - 0. Come on, NYU. Fork it over.


How strongly are both of you considering NYU at over 200k? Part of me says what the hell, go for it. Another part says the additional debt over UM is not worth it considering the economy and the uncertainty of how the legal job market will rebound.


I'll have a better answer for you after I get back from NYU's ASW this week, but I think I'd have a much tougher time in your position, given the fact that you have UMich in the picture and I, um, do not. You going to this ASW?


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