rickgrimes69 wrote:Desert Fox wrote:jbagelboy wrote:At what point is the debt even manageable then? When we are pushing $280K sticker at top schools, would you say $200K is a "Good Decision" at T5? or $150K? When does it become a "great investment"? its such an astronomically huge sum of cash that it's very difficult for an 0L or 1L to conceive. I think a lot of law students who are loaning out this much money and don't have parental support actually just blindly hope the federal government will relieve their loan at some point. Thus, when your in law school and you see your debt pile increasing rapidly into six figures, I bet some kids decide to go on LRAP with the justification that their loans will be covered after 10 yrs.
There is no magic number. Different people will have different numbers based on their opprunity cost, willingness to accept risk, and other factors.
And nobody is talking about PAYE. If they fix the tax bomb, your 250k of debt isn't really 250k.
Yeah, if. They haven't fixed it for IBR, why would they for PAYE? Especially in this age of sequester?
It doesn't have to be fixed for another 20+ years until the first person would be affected by it. Looking that far out has its own risks, but current trends are by no means strong evidence that it won't be fixed.