How Limiting/Dooming is Debt?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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Icculus
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Re: How Limiting/Dooming is Debt?

Postby Icculus » Sun Jun 24, 2012 12:55 am

rayiner wrote: You're worried about the debt tying you down because you're young and you think there are wonderful things out there in the world to see and explore. This feeling will eventually pass.

Don't go to law school right now. Enjoy childhood for awhile longer. Eventually the possibilities in your life will contract, you'll realize that you're no different than your parents or for that matter anyone else that has ever lived. You'll realize you're not destined to do great things and that like everyone else the only lasting impact you'll ever have on the world is the couple of kids you'll pop out.

Once you realize that, you'll be ready for law school.


Even though I've already had this happen, and am happy with where I am, it is still insanely depressing to see it written out. Thanks rayiner.

justonemoregame wrote:Yeah, at 32, and beginning law school this fall, I can tell you there is time. I would probably keep traveling if I were you. Law school will be there later. If you're ready to settle in the states after, then your career's inflexibility will be moot.

And you should have good options financially with your stats.


As someone who was 31 when he started, I agree with this 100%. Glad I took some time to figure my life out, and honestly my 30 y/o self was much better able to figure the cost/benefits than my 22 y/o self. Though it would have been great to hit the job market during the boom time I think I always would have regretted not enjoying my youth a bit.

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Olive
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Re: How Limiting/Dooming is Debt?

Postby Olive » Sun Jun 24, 2012 3:25 pm

Samara wrote:Then maybe law school isn't for you?


Because....?

The funny thing is I've never been more sure about law school being right for me. I've worked and intern with lawyers in the exact field I want to go to, I've worked at a law firm, gotten to sit down and talk with at least half a dozen lawyers domestically and internationally...I'm pretty confident it's the career path I want. I guess the choosing which school/debt burden is what I'm asking about.

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IAFG
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Re: How Limiting/Dooming is Debt?

Postby IAFG » Sun Jun 24, 2012 3:29 pm

Olive wrote:
Samara wrote:Then maybe law school isn't for you?


Because....?

The funny thing is I've never been more sure about law school being right for me. I've worked and intern with lawyers in the exact field I want to go to, I've worked at a law firm, gotten to sit down and talk with at least half a dozen lawyers domestically and internationally...I'm pretty confident it's the career path I want. I guess the choosing which school/debt burden is what I'm asking about.

I mean, it's going to cost what it's going to cost. Apparently it's now a "buyer's market" so the offers you're getting now are probably what your best price is going to be. All the hand-wringing in the world isn't going to change that. Is is going to be limiting? YES. So is entering the profession. The only thing you can do to improve upon your situation re: debt is to re-take the LSAT.

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Icculus
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Re: How Limiting/Dooming is Debt?

Postby Icculus » Sun Jun 24, 2012 4:11 pm

IAFG wrote:
Olive wrote:
Samara wrote:Then maybe law school isn't for you?


Because....?

The funny thing is I've never been more sure about law school being right for me. I've worked and intern with lawyers in the exact field I want to go to, I've worked at a law firm, gotten to sit down and talk with at least half a dozen lawyers domestically and internationally...I'm pretty confident it's the career path I want. I guess the choosing which school/debt burden is what I'm asking about.

I mean, it's going to cost what it's going to cost. Apparently it's now a "buyer's market" so the offers you're getting now are probably what your best price is going to be. All the hand-wringing in the world isn't going to change that. Is is going to be limiting? YES. So is entering the profession. The only thing you can do to improve upon your situation re: debt is to re-take the LSAT.


I'm confused. You're original post made it seem like not only debt, but geographic limitations, travel desires, etc... were all part of what was confusing you. If it's only debt, then you need to retake the LSAT, period. You also should realized that while meeting lawyers in the field you want to go into has helped solidify your decision, there is always a chance you won't make it into that field when you graduate. You need to go into this wanting to be a lawyer and accept the fact this means you may be a lawyer in a field you never wanted because that is the only career path open to you, especially if you do not perform well in school. Honestly though, I always have trouble believing a 22 y/o when they tell me how sure they are of anything. A lot happens between 22 and 25-27 that tends to change a person's worldview.

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Olive
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Re: How Limiting/Dooming is Debt?

Postby Olive » Mon Jun 25, 2012 12:02 am

Icculus wrote:
IAFG wrote:
Olive wrote:
Samara wrote:Then maybe law school isn't for you?


Because....?

The funny thing is I've never been more sure about law school being right for me. I've worked and intern with lawyers in the exact field I want to go to, I've worked at a law firm, gotten to sit down and talk with at least half a dozen lawyers domestically and internationally...I'm pretty confident it's the career path I want. I guess the choosing which school/debt burden is what I'm asking about.

I mean, it's going to cost what it's going to cost. Apparently it's now a "buyer's market" so the offers you're getting now are probably what your best price is going to be. All the hand-wringing in the world isn't going to change that. Is is going to be limiting? YES. So is entering the profession. The only thing you can do to improve upon your situation re: debt is to re-take the LSAT.


I'm confused. You're original post made it seem like not only debt, but geographic limitations, travel desires, etc... were all part of what was confusing you. If it's only debt, then you need to retake the LSAT, period. You also should realized that while meeting lawyers in the field you want to go into has helped solidify your decision, there is always a chance you won't make it into that field when you graduate. You need to go into this wanting to be a lawyer and accept the fact this means you may be a lawyer in a field you never wanted because that is the only career path open to you, especially if you do not perform well in school. Honestly though, I always have trouble believing a 22 y/o when they tell me how sure they are of anything. A lot happens between 22 and 25-27 that tends to change a person's worldview.


Yes, maybe I am a silly 22 year old.. I guess will go back to skipping through sunny fields with butterflies and come back and apply in a few years.

Thank you all for you help.

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Icculus
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Re: How Limiting/Dooming is Debt?

Postby Icculus » Mon Jun 25, 2012 2:31 am

Olive wrote:
Yes, maybe I am a silly 22 year old.. I guess will go back to skipping through sunny fields with butterflies and come back and apply in a few years.

Thank you all for you help.


Edit: Upon rereading the above, I have decided that my original post here was to nice, and that yes, you are an immature 22 y/o old who could stand a year or two in the real world.
Last edited by Icculus on Mon Jun 25, 2012 5:12 pm, edited 1 time in total.

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spleenworship
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Re: How Limiting/Dooming is Debt?

Postby spleenworship » Mon Jun 25, 2012 11:43 am

Olive wrote: Yes, maybe I am a silly 22 year old.. I guess will go back to skipping through sunny fields with butterflies and come back and apply in a few years.

Thank you all for you help.


See, it's posts like this that make me think you need a year to chill and work and/or travel before you do this. Way to whine like a child.

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rickgrimes69
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Re: How Limiting/Dooming is Debt?

Postby rickgrimes69 » Tue Jun 26, 2012 10:53 pm

You have a 4.0 / 169? How do you not have a better option than UT with a middling scholarship?

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hung jury
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Re: How Limiting/Dooming is Debt?

Postby hung jury » Wed Jun 27, 2012 10:15 pm

rickgrimes69 wrote:You have a 4.0 / 169? How do you not have a better option than UT with a middling scholarship?


Credited. LSN has a bunch of people with your same scholarship--but many with very similar numbers and a lot more. 28k might be ok last cycle but applicants have dropped 25% over the last two years.

Did you apply widely? Negotiate with other schools before accepting UT? Did you accept early in the cycle?

Debt is limiting but given the 4.0 you don't have to be as limited by it as 100k at Texas.

Though I agree with everyone above who said it sounds like you should sit out law school for a few years. It's not going anywhere and once you're locked in you're locked in.

law777
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Re: How Limiting/Dooming is Debt?

Postby law777 » Wed Jun 27, 2012 10:27 pm

I can closely empathize with your situation. I think your hesitancy is well grounded. Your options coming from UT could put you in the position for biglaw, and with a biglaw salary, it is quite doable (particularly in Texas if you plan to stay there). However, based on your desire to travel, you may feel very trapped.

PM me if you want to talk more.




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