Desert Fox wrote:Can we stop pretending Yale is a lifelong ticket to riches? Sure it will guarantee you a big law SA. But it won't protect you from No Offers. It won't protect you from getting Lathamed. And it certainly won't make you get partner. So in 5 years post grad, the OP is out of big law like everyone else.
In 2010, 4 Yalies went to Cadwalader.
I don't read that many posts, but I have to say that the few I do read have Desert Fox dropping smart bombs.
People, from the horse's mouth here, that debt is going to be real one way or another.
Presuming OP gets a big firm job. Yes, he will then be able to pay it back. Key word there is PAY. And it will be about 1500 a month on full loans on a 25 year repayment plan. That's a lot of money, even if you are making 200k. That's a house that's 250 grand nicer, or full time day care, or having a BMW and a maid. You will know the difference.
Presuming OP goes into prosecution in a major city. OP will be making at least 80k starting, then 100k within a few years (I don't know how this works if OP marries someone with a big firm income). Even assuming that OP will only be required to pay 25% of the amount over 60k, he will be paying 10k per year. When your take home is less than 60k (which it is at about 100k income), you will very much notice the missing 10,000, and you will notice the cockroaches in your apartment.
Presuming OP goes into a "true" public interest job making 40-60k... good for you! The sacrifices you are making, I could never make and support my family and pay for my condo. I salute you, sir or madam. And I respect that your commitment is so great, that you even sacrificed mobility to prosecution jobs and sophisticated firm jobs to start your career in the public interest. I am serious. These people are the real deal and the principles one has to have to make this commitment are just admirable.
AND, if OP wants to end up in prosecution or at a federal defender's office after working at a firm for a couple of years to pay down debt, best of luck! We have plenty of people from top schools applying to the US Attorney's Office here, and no one is really that impressed by the fact that someone got into Yale, earned no grades, and works at a firm.
(Emma. beats me to this and does it in about 4 words)