How Much Would You Take On??

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

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How Much Would You Take On??

Postby WashingtonJew » Fri Jan 28, 2011 3:43 pm

let me start off saying i'm not trolling.

I got into two of my top choices but will have to pay sticker at both.

I'm merely posing a hypothetical but with $100k job lined up after graduation how much debt would you take on?

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Judge Philip Banks

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Re: How Much Would You Take On??

Postby Judge Philip Banks » Fri Jan 28, 2011 10:12 pm

Knowing I had a $100k job lined up, and assuming good job security (i.e. being able to stay at said job until debt is paid off), I'd say... $150k of debt.

Without assuming job security, though, but still assuming $100k job lined up, maybe less. Hard to say.

If you got into your top choices but are facing paying sticker at either, you should still be happy and satisfied. And if you are sure law is the path you want to embark upon, and have done your research as to what you are getting yourself into, you should just go for it. It is hard to put a price on something like that.

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Re: How Much Would You Take On??

Postby kch3684 » Wed Feb 02, 2011 11:36 am

per financial adviser I talked to:
Only take on as much debt as your first year salary would be
So $100,000 job then $100,000 is as much debt as you should take out.

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