How much debt are you expecting, c/o 2013?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.

Debt Expected (approx) Upon Graduation

0
16
7%
50k
33
15%
75k
32
14%
100k
32
14%
125k
21
9%
150k
29
13%
175k
21
9%
200k
28
13%
225k
4
2%
250k+
8
4%
 
Total votes: 224

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Veritas
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How much debt are you expecting, c/o 2013?

Postby Veritas » Fri Jan 01, 2010 9:15 pm

So, how much debt are you expecting to accrue and how are you feeling about it (feel free to include UG debt, but maybe comment that it's being included)?

It would also be interesting to hear opinions/discussion on what is a rational level of debt for certain types of schools (judgment either by rank or more sensible standards, such as job placement, etc...)

When is it sensible to take on 150k+?

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Rowinguy2009
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Re: How much debt are you expecting, c/o 2013?

Postby Rowinguy2009 » Fri Jan 01, 2010 9:29 pm

I am one of the 50Ks, but it's actually going to be closer to 60. This will likely be for a school ranked 20-30 (I think this should also be included, having 75K from Cooley and 75K from Penn are very different things.) As far as 150 K in debt goes, I personally don't think I would take out that much for anything short of HYS. I am fairly debt adverse though.

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Veritas
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Re: How much debt are you expecting, c/o 2013?

Postby Veritas » Fri Jan 01, 2010 9:32 pm

Rowinguy2009 wrote:I am one of the 50Ks, but it's actually going to be closer to 60. This will likely be for a school ranked 20-30 (I think this should also be included, having 75K from Cooley and 75K from Penn are very different things.) As far as 150 K in debt goes, I personally don't think I would take out that much for anything short of HYS. I am fairly debt adverse though.

Great opportunity, congrats!

Is this in a preferable market?

How much should you compromise to decrease debt? (for whoever)

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jawsthegreat
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Re: How much debt are you expecting, c/o 2013?

Postby jawsthegreat » Fri Jan 01, 2010 9:32 pm

Will have between 30-50k in debt.

Kretzy
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Re: How much debt are you expecting, c/o 2013?

Postby Kretzy » Fri Jan 01, 2010 9:34 pm

I said 175K. Sort of reticent to take out that much, but it would be for a school that (I think) justifies the cost.

Thankfully, I have no debt from UG.

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thalassocrat
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Re: How much debt are you expecting, c/o 2013?

Postby thalassocrat » Fri Jan 01, 2010 9:37 pm

Said 175k, but that's really my upper limit and that'll be if I get into Chicago or something (going by their COL). I expect (or hope) it'll be less, especially if I end up at Michigan like I want. Can't really say until scholarship offers go out.

ram jam
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Re: How much debt are you expecting, c/o 2013?

Postby ram jam » Mon Jan 04, 2010 2:15 pm

I said 150K...

I still cannot stomach the fact of paying a mortgage sized loan for law school. The costs are barriers to entry.

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NancyBotwin
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Re: How much debt are you expecting, c/o 2013?

Postby NancyBotwin » Mon Jan 04, 2010 4:48 pm

I said 250k+, but this is if I get into one of my reaches or NU, and includes debt from undergrad and grad school. If I end up at UMN or W&M, it will be a lot less, since they're offering $$.

It scares me a bit, but I have to remind myself that this is an investment in myself and my future.

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UFMatt
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Re: How much debt are you expecting, c/o 2013?

Postby UFMatt » Mon Jan 04, 2010 4:49 pm

Between 50k and 75k. I refuse to pay sticker, and my wife can help with CoL.

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OGR3
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Re: How much debt are you expecting, c/o 2013?

Postby OGR3 » Mon Jan 04, 2010 4:51 pm

I don't want to take out anything more than Stafford loans.

09042014
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Re: How much debt are you expecting, c/o 2013?

Postby 09042014 » Mon Jan 04, 2010 5:10 pm

250K for Northwestern + some undergrad.

Actually it should be less than that, but that is probably the max. I should have 20K in savings when I start, and I'm hoping to work during 1L + 2L if I can. So maybe 170K if everything goes my way, 250K if nothing does.

JOThompson
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Re: How much debt are you expecting, c/o 2013?

Postby JOThompson » Mon Jan 04, 2010 5:29 pm

125K for Minnesota, closer to 60K if I take the Iowa full ride tuition. At this point, I'm hesitant to take a T14 at sticker price since I'm not deadset on biglaw.

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Jackie O
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Re: How much debt are you expecting, c/o 2013?

Postby Jackie O » Mon Jan 04, 2010 5:34 pm

Yeah I'm delusional.

I put 75K - I think simply because that's an amount I feel okay with (not actually putting any consideration into what tuition is). However, that is obviously not including the 85K of loans for the degree I will graduate with in May.

Please give me scholarship money.

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eye
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Re: How much debt are you expecting, c/o 2013?

Postby eye » Tue Jan 05, 2010 12:45 am

The worst case scenario if things don't go my way: $115,000 including $10,000 of undergrad debt for a T30 law school.

I will do everything I can from now until August to reduce that to at least $75,000. Hoping to reduce this amount pursuant to possible scholarship $$$.

I'm also debt-averse and don't plan on big-law.

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MC Southstar
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Re: How much debt are you expecting, c/o 2013?

Postby MC Southstar » Tue Jan 05, 2010 12:48 am

I'm fucked.

09042014
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Re: How much debt are you expecting, c/o 2013?

Postby 09042014 » Tue Jan 05, 2010 12:50 am

shadowfrost000 wrote:I'm fucked.


Want to start a quarter million dollar club?

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MC Southstar
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Re: How much debt are you expecting, c/o 2013?

Postby MC Southstar » Tue Jan 05, 2010 12:50 am

Desert Fox wrote:
shadowfrost000 wrote:I'm fucked.


Want to start a quarter million dollar club?


My ass is bleeding.

09042014
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Re: How much debt are you expecting, c/o 2013?

Postby 09042014 » Tue Jan 05, 2010 12:54 am

shadowfrost000 wrote:
Desert Fox wrote:
shadowfrost000 wrote:I'm fucked.


Want to start a quarter million dollar club?


My ass is bleeding.


I haven't been raped yet, but I'm that cute 18 yo at her first frat party at UVA, wearing a low cut shirt and a skirt, and I just drank the jungle juice. I'm about to black out. I'll wake up at 2L OCI with a sore ass and vomit on my mouth wonder what happened.

And yes that was rancid anti UVA trolling.

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MC Southstar
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Re: How much debt are you expecting, c/o 2013?

Postby MC Southstar » Tue Jan 05, 2010 12:56 am

Desert Fox wrote:
shadowfrost000 wrote:
Desert Fox wrote:
shadowfrost000 wrote:I'm fucked.


Want to start a quarter million dollar club?


My ass is bleeding.


I haven't been raped yet, but I'm that cute 18 yo at her first frat party at UVA, wearing a low cut shirt and a skirt, and I just drank the jungle juice. I'm about to black out. I'll wake up at 2L OCI with a sore ass and vomit on my mouth wonder what happened.

And yes that was rancid anti UVA trolling.


Tbh, being a splitter means there really wasn't much option in the first place though. Not like you can get a scholarship anywhere.. unless you wanna go to *snicker* St. Louis. Everyone has grade inflation.

And yes that was rancid anti humanities trolling.

09042014
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Re: How much debt are you expecting, c/o 2013?

Postby 09042014 » Tue Jan 05, 2010 1:05 am

shadowfrost000 wrote:
Desert Fox wrote:
I haven't been raped yet, but I'm that cute 18 yo at her first frat party at UVA, wearing a low cut shirt and a skirt, and I just drank the jungle juice. I'm about to black out. I'll wake up at 2L OCI with a sore ass and vomit on my mouth wonder what happened.

And yes that was rancid anti UVA trolling.


Tbh, being a splitter means there really wasn't much option in the first place though. Not like you can get a scholarship anywhere. Everyone has grade inflation.

And yes that was rancid anti humanities trolling.


That is why Northwestern at full price wasn't a hard choice for me. I figured it was 220K at NU, maybe 115K at UIUC. But that's about it. Schools like ChiKent, Depaul, and Loyola would probably be more more than UIUC, because they are cheap asses, and because of COL.

Made the choice a lot easier. I don't even know what school would give me a full ride (well other than Cooley).

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Aeroplane
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Re: How much debt are you expecting, c/o 2013?

Postby Aeroplane » Tue Jan 05, 2010 8:46 am

shadowfrost000 wrote:Tbh, being a splitter means there really wasn't much option in the first place though. Not like you can get a scholarship anywhere.. unless you wanna go to *snicker* St. Louis. Everyone has grade inflation.

And yes that was rancid anti humanities trolling.
I don't know how much of a splitter you are, but if your GPA is >3.0 you can get T14 scholarships, although not huge ones.

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Helmholtz
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Re: How much debt are you expecting, c/o 2013?

Postby Helmholtz » Tue Jan 05, 2010 8:52 am

With LS + UG, and assuming I get absolutely no money from one of my better acceptances, we're looking at somewhere probably a little under $200k.

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Lilith
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Re: How much debt are you expecting, c/o 2013?

Postby Lilith » Fri Jan 08, 2010 11:11 am

jawsthegreat wrote:Will have between 30-50k in debt.

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rw2264
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Re: How much debt are you expecting, c/o 2013?

Postby rw2264 » Fri Jan 08, 2010 11:37 am

probably 100-120k for top 40, depending on whether i get any need-based grants. is it ridiculous for me to plan on relying on LRAP...?

why oh why do i want to go to a UC so badly now? they're just going to keep raising the tuition on me. maybe i should just apply to lewis and clark and see if they give me a full ride.

JOThompson
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Re: How much debt are you expecting, c/o 2013?

Postby JOThompson » Fri Jan 08, 2010 11:50 am

rw2264 wrote:probably 100-120k for top 40, depending on whether i get any need-based grants. is it ridiculous for me to plan on relying on LRAP...?

why oh why do i want to go to a UC so badly now? they're just going to keep raising the tuition on me. maybe i should just apply to lewis and clark and see if they give me a full ride.

With your numbers, I bet you can do better than $$ at a top 40. I think that LRAP will be better at higher ranked schools too.




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