Paul Campos wrote:You're seriously underestimating your debt out of UCLA. In-state tuition last year was $47.5K, which means it's likely to average more than $50K over the next three years. Let's say it's $50K, which means you'll pay $90K over three years after subtracting $60K. It's going to be extremely difficult for you to spend less than $15K per nine months of attendance while going to law school in Westwood. With interest, this bumps your debt total at repayment to $160K.
I think the tuition increases are fair, so maybe my total debt would be closer to 135k. However, I think 15k per nine months is completely doable. Let's assume $900/month in rent (I'd go for a multibedroom apt w/ roommates) and say $800 on books, I would still have approximately $675/month for food, cell phone bill, going out, etc. If we're even going to get super nitpicky and talk about one-off expenses like flights, I have enough airline miles to cover my time in law school. If I were to bring my car, which would be an extra expense, I'd equal it out by living somewhere cheaper a little farther from campus.
Also, I have purposely set aside some savings to pay off the interest that accrues each year so that my principal doesn't increase.