Anyone take out loans that you didn't *really* need?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
pkt63
Posts: 282
Joined: Fri Jan 28, 2011 9:06 pm

Anyone take out loans that you didn't *really* need?

Postby pkt63 » Fri Apr 29, 2011 12:17 am

I am trying to be open-minded about my future career. I'd love to do public interest, although my career history reminds me that I can be downtrodden by the overwhelming bureaucracies and often-ineffectiveness. Yet, I am certainly no fan of giving up life balance for BigLaw. Hence, open-minded.

So, in case I might do PI, I am thinking about taking out loans, especially the subsidized ones - that seems like a no-brainer. I mean, if I paid cash for my education and then went into PI, it's almost as if I turned down a scholarship or grant!

I haven't done the math on the negative arbitrage. Certainly, I am not likely to earn enough on the cash I save to overcome the interest accumulated on the non-subsidized while in school, but just by eyeing it, it doesn't seem like enough to nix the idea.

Other considerations?

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Leira7905
Posts: 384
Joined: Fri Oct 29, 2010 9:42 pm

Re: Anyone take out loans that you didn't *really* need?

Postby Leira7905 » Fri Apr 29, 2011 10:39 pm

Don't take out a bunch of unnecessary loans expecting to get PI work. That's a terrible idea. You don't know what kind of job you're going to end up with.

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dr123
Posts: 3503
Joined: Tue Jan 04, 2011 2:38 am

Re: Anyone take out loans that you didn't *really* need?

Postby dr123 » Fri Apr 29, 2011 10:42 pm

That sounds absolutely retarded

BeachandRun23
Posts: 328
Joined: Mon Dec 27, 2010 2:20 am

Re: Anyone take out loans that you didn't *really* need?

Postby BeachandRun23 » Tue May 03, 2011 3:04 am

Arent the subsidized loans interest free if you pay them back upon graduation? If so, I see no reason why the OP shouldnt take those out.

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dpk711
Posts: 1242
Joined: Sat Oct 23, 2010 5:24 pm

Re: Anyone take out loans that you didn't *really* need?

Postby dpk711 » Tue May 03, 2011 3:09 am

I don't think you should go to law school.




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