Support Thread for the 6-figure debt plunge

[jtemp320]

I hope the posters in this thread will keep us informed of their journeys through school. I think the posters in this thread can be an excellent case study on what actually happens to a group of law students who take on debt knowing the risks. This is in contrast to the people who took on large debt before ITE and those who have taken on debt without understanding what they were signing on to in terms of future employment prospects.

Good luck!

PS. Please note this is not meant as a judgment on your choices. The future is difficult to predict. I sincerely wish you all well.

I suspect you will only hear about success. Those of us not successful will be too poor to afford internet access.

Oh you'd definitely hear from me - I'd create a blog called T6 reality or something like that using internet access from the public library...

Hope it dosen't come to that!

[2011Law]

I've only started hearing back from schools, but right now I'm leaning toward going to BU, and I will likely not get a significant scholarship. So it'll probably be 150-180k debt for me.

[aspire2more]

Nvm

[TheStrand]

I'm looking at substantial debt too, likely $100K+ as the best scholarship I've been offered so far was from a TTTT and would still have left me with $70K in loans. And I'm interested in public interest (what I've been working in since finishing undergrad), and not remotely interested in "Big Law." My family thinks I'm absolutely nuts to be going to law school. I'm pretty worried.

You have a great LSAT though and you're a URM. If you applied early next cycle you would get tons of scholarship. Not an option?

[clone22]

Willing to take out sticker at vandy or boalt here. I've only got 25K worth of undergrad debt, so hopefully I won't break the quarter million mark (until interest starts to accrue). Best of luck to you all, I'm sure we'll manage something. Worst case scenario is 10 years of IBR in a "public service" job (this includes gov't work and does not have to be related to the legal field), and poof, our federal debt disappears tax free. So at worst, it's only 10 years of debt peonage

right?

[beachbum]

Checking in with impending mountains of debt from Duke. This is an exciting time, but those loans are fucking terrifying. So hopefully they scare me into the top 10%.

[aspire2more]

Nvm

[yo!]

.

[niederbomb]

Just looked at the ASW for Penn and saw the estimated costs of 68K per year! It's easy to dismiss debt as just a number till you seriously consider taking it on.

God, help me get into Michigan, at least, so I have some room to negotiate for scholarships! I'm going to get WLed at UVA with such a late application, almost 100%.

I'm kicking myself for not even applying to Berkeley.

[Hey-O]

I'm looking a UChi or Columbia and 150k+ for either. It's pretty nerve wracking.

[Ikki]

I have a feeling this will become a mega-thread. Looking to be $150k (hopefully not more) at one of CNDC. Either I get biglaw or I'll be kicking ass in the military.

[kwais]

I feel as though I go through the same roller coaster each day. I usually wake up thinking, are you stupid? 200k? then I rationalize and get to a comfortable place. then I get really excited for the challenge, risk and potential payoff, then sleep and it starts over again. I imagine this will continue until I get a great job/strike out and hide in Guatemala

[niederbomb]

I feel as though I go through the same roller coaster each day. I usually wake up thinking, are you stupid? 200k? then I rationalize and get to a comfortable place. then I get really excited for the challenge, risk and potential payoff, then sleep and it starts over again. I imagine this will continue until I get a great job/strike out and hide in Guatemala

Lol about the hiding in Guatemala. I've considered doing something similar too (as a last resort).

I know a guy who actually did this in China. He's now happily teaching English for the same exact salary as other fuck ups with fake online B.A's.

But it's not all bad.

By the way, will it be that odd if I lock myself in my room and just study, study, study for my first year? With the debt and job markets the way they are, everyone SHOULD be spending 95% of their time in either the classroom or the library, with the other 5% reserved for the gym. The time to be social has passed.

[paulinaporizkova]

I'm looking at substantial debt too, likely $100K+ as the best scholarship I've been offered so far was from a TTTT and would still have left me with $70K in loans. And I'm interested in public interest (what I've been working in since finishing undergrad), and not remotely interested in "Big Law." My family thinks I'm absolutely nuts to be going to law school. I'm pretty worried.

You have a great LSAT though and you're a URM. If you applied early next cycle you would get tons of scholarship. Not an option?

No, not an option.

it's really not? i just feel like the future payoff for this would be worth waiting another year

[D. H2Oman]

Hey guys I made you an official thread logo


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[TheStrand]

Just looked at the ASW for Penn and saw the estimated costs of 68K per year! It's easy to dismiss debt as just a number till you seriously consider taking it on.

God, help me get into Michigan, at least, so I have some room to negotiate for scholarships! I'm going to get WLed at UVA with such a late application, almost 100%.

I'm kicking myself for not even applying to Berkeley.

Mm if you have the GPA to get into Berkeley, you could probably get a half scholly at Michigan. Plus, their COA is "only" 62k a year =)

[paulinaporizkova]

also checking in. i will be paying 2/3 of my way at UVa, which is still about 130 g's or so. gave up a full ride + stipend at the U of M because i have no interest in living here long term. someone tell me i'm not crazy

[paulinaporizkova]

Just looked at the ASW for Penn and saw the estimated costs of 68K per year! It's easy to dismiss debt as just a number till you seriously consider taking it on.

God, help me get into Michigan, at least, so I have some room to negotiate for scholarships! I'm going to get WLed at UVA with such a late application, almost 100%.

I'm kicking myself for not even applying to Berkeley.

Mm if you have the GPA to get into Berkeley, you could probably get a half scholly at Michigan. Plus, their COA is "only" 62k a year =)

huh?

[niederbomb]

also checking in. i will be paying 2/3 of my way at UVa, which is still about 130 g's or so. gave up a full ride + stipend at the U of M because i have no interest in living here long term. someone tell me i'm not crazy

UVA didn't match it?

[paulinaporizkova]

also checking in. i will be paying 2/3 of my way at UVa, which is still about 130 g's or so. gave up a full ride + stipend at the U of M because i have no interest in living here long term. someone tell me i'm not crazy

UVA didn't match it?

minnesota, not michigan

[TheStrand]

Hey guys I made you an official thread logo


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Hah. If only that were the case...isn't the world's supply of helium finite and dwindling? We could make bank.

[D. H2Oman]

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[northwood]

also checking in. i will be paying 2/3 of my way at UVa, which is still about 130 g's or so. gave up a full ride + stipend at the U of M because i have no interest in living here long term. someone tell me i'm not crazy

if you dont want to live in minnesota then its the right choice. You are either paying for the degree in loans, or with your geographic location. you know where you will be happy- go there

[TheStrand]

Just looked at the ASW for Penn and saw the estimated costs of 68K per year! It's easy to dismiss debt as just a number till you seriously consider taking it on.

God, help me get into Michigan, at least, so I have some room to negotiate for scholarships! I'm going to get WLed at UVA with such a late application, almost 100%.

I'm kicking myself for not even applying to Berkeley.

Mm if you have the GPA to get into Berkeley, you could probably get a half scholly at Michigan. Plus, their COA is "only" 62k a year =)

huh?

Berkeley's median GPA is around 3.8 or so; with a 3.8 and a 170 something GPA niederbomb would be getting 17k a year in scholarship at Michigan, if he/she was consistent with others with the same scores.

*edit: fine, not half, but a 51,000

[paulinaporizkova]

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