Support Thread for the 6-figure debt plunge

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jtemp320
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Re: Support Thread for the 6-figure debt plunge

Postby jtemp320 » Sun Feb 20, 2011 12:43 am

powerlawyer06 wrote:
rose711 wrote: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... :lol:

Hope it dosen't come to that!

2011Law
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Re: Support Thread for the 6-figure debt plunge

Postby 2011Law » Sun Feb 20, 2011 12:52 am

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.

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aspire2more
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Re: Support Thread for the 6-figure debt plunge

Postby aspire2more » Sun Feb 20, 2011 12:58 am

Nvm
Last edited by aspire2more on Wed Feb 23, 2011 6:13 pm, edited 1 time in total.

TheStrand
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Re: Support Thread for the 6-figure debt plunge

Postby TheStrand » Sun Feb 20, 2011 1:45 am

aspire2more wrote: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
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Re: Support Thread for the 6-figure debt plunge

Postby clone22 » Sun Feb 20, 2011 1:57 am

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? :(

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beachbum
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Re: Support Thread for the 6-figure debt plunge

Postby beachbum » Sun Feb 20, 2011 2:05 am

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%.

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aspire2more
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Re: Support Thread for the 6-figure debt plunge

Postby aspire2more » Sun Feb 20, 2011 2:07 am

Nvm
Last edited by aspire2more on Wed Feb 23, 2011 6:13 pm, edited 1 time in total.

yo!
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Re: Support Thread for the 6-figure debt plunge

Postby yo! » Sun Feb 20, 2011 3:23 am

.
Last edited by yo! on Thu May 10, 2012 10:34 pm, edited 1 time in total.

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niederbomb
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Re: Support Thread for the 6-figure debt plunge

Postby niederbomb » Sun Feb 20, 2011 3:58 am

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
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Re: Support Thread for the 6-figure debt plunge

Postby Hey-O » Sun Feb 20, 2011 4:46 am

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

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Ikki
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Re: Support Thread for the 6-figure debt plunge

Postby Ikki » Sun Feb 20, 2011 4:54 am

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.

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kwais
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Re: Support Thread for the 6-figure debt plunge

Postby kwais » Sun Feb 20, 2011 1:23 pm

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

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niederbomb
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Re: Support Thread for the 6-figure debt plunge

Postby niederbomb » Sun Feb 20, 2011 1:27 pm

kwais wrote: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. :wink:
Last edited by niederbomb on Sun Feb 20, 2011 1:32 pm, edited 1 time in total.

paulinaporizkova
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Re: Support Thread for the 6-figure debt plunge

Postby paulinaporizkova » Sun Feb 20, 2011 1:31 pm

aspire2more wrote:
TheStrand wrote:
aspire2more wrote: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

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D. H2Oman
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Re: Support Thread for the 6-figure debt plunge

Postby D. H2Oman » Sun Feb 20, 2011 1:31 pm

Hey guys I made you an official thread logo


--ImageRemoved--

TheStrand
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Re: Support Thread for the 6-figure debt plunge

Postby TheStrand » Sun Feb 20, 2011 1:32 pm

niederbomb wrote: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
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Re: Support Thread for the 6-figure debt plunge

Postby paulinaporizkova » Sun Feb 20, 2011 1:33 pm

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
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Re: Support Thread for the 6-figure debt plunge

Postby paulinaporizkova » Sun Feb 20, 2011 1:33 pm

TheStrand wrote:
niederbomb wrote: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?

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niederbomb
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Re: Support Thread for the 6-figure debt plunge

Postby niederbomb » Sun Feb 20, 2011 1:34 pm

paulinaporizkova wrote: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
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Re: Support Thread for the 6-figure debt plunge

Postby paulinaporizkova » Sun Feb 20, 2011 1:35 pm

niederbomb wrote:
paulinaporizkova wrote: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
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Re: Support Thread for the 6-figure debt plunge

Postby TheStrand » Sun Feb 20, 2011 1:35 pm

D. H2Oman wrote:Hey guys I made you an official thread logo


--ImageRemoved--

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

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D. H2Oman
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Re: Support Thread for the 6-figure debt plunge

Postby D. H2Oman » Sun Feb 20, 2011 1:36 pm

--ImageRemoved--

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northwood
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Re: Support Thread for the 6-figure debt plunge

Postby northwood » Sun Feb 20, 2011 1:38 pm

paulinaporizkova wrote: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
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Re: Support Thread for the 6-figure debt plunge

Postby TheStrand » Sun Feb 20, 2011 1:38 pm

paulinaporizkova wrote:
TheStrand wrote:
niederbomb wrote: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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Re: Support Thread for the 6-figure debt plunge

Postby paulinaporizkova » Sun Feb 20, 2011 1:42 pm

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