Use stafford loans or retirement money?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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IAFG
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Re: Use stafford loans or retirement money?

Postby IAFG » Thu May 30, 2013 10:10 pm

A. Nony Mouse wrote:So why does the government not set an age limit on loans? Why should someone who's 50-something not be able to take advantage of the same options as a 20-something? (Keep in mind the OP is planning to borrow 60K, has savings, and is not a few years away from retirement, unless you define 15-20 as "a few.") Again, I'm not saying it makes it any better a decision, but why is someone who wants to borrow $60K to go to the regional flagship at 52 suddenly a burden on the taxpayers when the same criticism doesn't get raised about the 24-year-old who wants to borrow $250K to go to Cal Western?

(And I know the above is slightly ridiculous, but I do think the shift to criticizing the decision as selfish was a bit much. There are plenty of other grounds on which to criticize the idea.)

You're asking why the Fed Gov doesn't codify agism?

NYstate
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Re: Use stafford loans or retirement money?

Postby NYstate » Thu May 30, 2013 10:11 pm

No. She said she would owe 60,000 and would take that out of her retirement savings which is an atrocious idea. I'm on my phone and can't quote what she posted. She may be wrong as she said they were out of money. But her partner ( boyfriend) is paying her living costs other than $10,000 for her kids college.

Anyway, how did we figure out she was in Pittsburgh? I must have missed that.

I see no reason she shouldn't take out loans. A very large percentage of the people on this forum will not repay their loans in full . Some are even advocating PAYE on biglaw salaries.
I feel that a new morality is starting where the schools who are laundering the government payments through the students are the real bad guys here . They are the ones ripping off the taxpayer not the insolvent student borrower.

I'm starting to see this as an argument I can get behind. Fucking schools and their greed.
Last edited by NYstate on Thu May 30, 2013 10:20 pm, edited 1 time in total.

thelawdoctor
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Re: Use stafford loans or retirement money?

Postby thelawdoctor » Thu May 30, 2013 10:15 pm

IAFG wrote:
A. Nony Mouse wrote:So why does the government not set an age limit on loans? Why should someone who's 50-something not be able to take advantage of the same options as a 20-something? (Keep in mind the OP is planning to borrow 60K, has savings, and is not a few years away from retirement, unless you define 15-20 as "a few.") Again, I'm not saying it makes it any better a decision, but why is someone who wants to borrow $60K to go to the regional flagship at 52 suddenly a burden on the taxpayers when the same criticism doesn't get raised about the 24-year-old who wants to borrow $250K to go to Cal Western?

(And I know the above is slightly ridiculous, but I do think the shift to criticizing the decision as selfish was a bit much. There are plenty of other grounds on which to criticize the idea.)

You're asking why the Fed Gov doesn't codify agism?



I always giggle when I see the 90 something grandma's in the stores with a wallet full of creditcards. They know exactly what they are doing. Love it, hate it, ignore it, but I guess a person in hospice at 30 could do the same thing..........and I don't think anyone wants to have your credit score and your doctors bill merge.

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A. Nony Mouse
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Re: Use stafford loans or retirement money?

Postby A. Nony Mouse » Thu May 30, 2013 10:22 pm

IAFG wrote:
A. Nony Mouse wrote:So why does the government not set an age limit on loans? Why should someone who's 50-something not be able to take advantage of the same options as a 20-something? (Keep in mind the OP is planning to borrow 60K, has savings, and is not a few years away from retirement, unless you define 15-20 as "a few.") Again, I'm not saying it makes it any better a decision, but why is someone who wants to borrow $60K to go to the regional flagship at 52 suddenly a burden on the taxpayers when the same criticism doesn't get raised about the 24-year-old who wants to borrow $250K to go to Cal Western?

(And I know the above is slightly ridiculous, but I do think the shift to criticizing the decision as selfish was a bit much. There are plenty of other grounds on which to criticize the idea.)

You're asking why the Fed Gov doesn't codify agism?

So you're admitting it's ageist?

thelawdoctor
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Re: Use stafford loans or retirement money?

Postby thelawdoctor » Thu May 30, 2013 10:25 pm

A. Nony Mouse wrote:
IAFG wrote:
A. Nony Mouse wrote:So why does the government not set an age limit on loans? Why should someone who's 50-something not be able to take advantage of the same options as a 20-something? (Keep in mind the OP is planning to borrow 60K, has savings, and is not a few years away from retirement, unless you define 15-20 as "a few.") Again, I'm not saying it makes it any better a decision, but why is someone who wants to borrow $60K to go to the regional flagship at 52 suddenly a burden on the taxpayers when the same criticism doesn't get raised about the 24-year-old who wants to borrow $250K to go to Cal Western?

(And I know the above is slightly ridiculous, but I do think the shift to criticizing the decision as selfish was a bit much. There are plenty of other grounds on which to criticize the idea.)

You're asking why the Fed Gov doesn't codify agism?

So you're admitting it's ageist?


The idea of it? Maybe, but not legally no.
Age Discrimination laws only apply between 40-60 (or something like that) so above that, too bad to sad.
And even then there are loopholes for various trades based on unique needs (no one wants a 59 year old stripper,etc)

But reverse discrimination based on age is out there too, "55 or better need only apply housing/employment/membership/Discounts/Credit,ect."

I just am thinking more slippery slope type concerns.

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A. Nony Mouse
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Re: Use stafford loans or retirement money?

Postby A. Nony Mouse » Thu May 30, 2013 10:35 pm

thelawdoctor wrote:The idea of it? Maybe, but not legally no.
Age Discrimination laws only apply between 40-60 (or something like that) so above that, too bad to sad.
And even then there are loopholes for various trades based on unique needs (no one wants a 59 year old stripper,etc)

But reverse discrimination based on age is out there too, "55 or better need only apply housing/employment/membership/Discounts/Credit,ect."

I just am thinking more slippery slope type concerns.

Um, no, actually the ADEA applies to people over 40, period.

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BabyJT
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Re: Use stafford loans or retirement money?

Postby BabyJT » Thu May 30, 2013 10:40 pm

A. Nony Mouse wrote:
BabyJT wrote:She's not proposing to take out 60k she's saying that's what she was offered in her financial aid packet from the schools. Which every grad student is eligible for that 20.5k/yr. She hasn't even addressed the full cost of tuition- not to mention the cost of attendance. If she doesn't use any retirement or savings and uses purely loans, that's about $150k for COA. let's be real, most of that she will never get close to paying back.

Aw, crap, sorry everyone, that's correct and I totally flaked on that. So I take back part of my outrage!!!. I still think that unless you want to try to pin down a sliding scale of age in relation to amount of loan and so on (and good luck with that), to say someone shouldn't take out loans because of their age is slightly bogus - clearly, ability to repay a loan is not currently part of the calculus in granting any law student a loan. But I did misunderstand the situation here.


i'm not addressing the whole taxpayer issue i think that's a dumb argument b/c really how many people were thinking about the taxpayers as they chose which law school to go to or whether or not to go at all? no we all only think of ourselves. i'm saying for her sake and the sake of her dependents she should choose a different path - not law school. instead of accumulating all that debt she can continue to build her retirement fund and savings while making the same salary without a law degree if she would look for another job. if she has the competency to succeed in law school and practice law then she should easily qualify for better paying jobs. now if she comes back and says she's exhausted all other job options or is super passionate/ has always dreamed about being a lawyer (as simply "fascinated with law and love learning" doesn't cut it to me) then I'll say go for it. but there are other ways to realize your potential or feel accomplished without taking on the debt.

RodneyRuxin
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Re: Use stafford loans or retirement money?

Postby RodneyRuxin » Thu May 30, 2013 10:41 pm

Last edited by RodneyRuxin on Thu May 30, 2013 10:43 pm, edited 2 times in total.

20141023
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Re: Use stafford loans or retirement money?

Postby 20141023 » Thu May 30, 2013 10:42 pm

.
Last edited by 20141023 on Sun Feb 15, 2015 11:56 pm, edited 1 time in total.

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CO2016YEAH
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Re: Use stafford loans or retirement money?

Postby CO2016YEAH » Thu May 30, 2013 10:59 pm

I got bored after the first page and reading the inevitable and obvious "don't go" advice, so I apologize if I'm repeating anything from other posts.

Don't go is probably still your best bet, at least if you have to pay anywhere near full freight. The improved earning potential is unlikely to offset the loans and interest. I believe the term here is "negative expected value."

However, it looks like actual return on investment isn't a factor for you, as you're (not really) doing this for financial gain, but instead for personal gain. You sort of allude to the fact that there will likely be an improvement in wages; however, unless you plan on working into your 80s or 90s this is unlikely to be a profitable venture, by any reasonable analysis. It is unreasonable to be irritated by being accused of financial recklessness, as even you acknowledge (although with some reservations which are somewhat unrealistic/overly optimistic) that this is somewhat reckless.

But I do understand the wanting to go and to explore a passion and the desire to better your mind and career advancement potential. The key here is damage minimization. Another year won't kill you, and the payoff could be huge (there is always room for gain, until you hit 180, just as someone can always (absent limitations of mortality) get stronger/fatter/skinnier/whatever. You can always improve reading skills, you can get better at logical reasoning and spotting flaws and tricks, and the games are of course learnable.

As far as I understand current repayment terms (on which I am not an expert, but somewhat well researched), your repayment can be taylored to your earnings, and will include your spouses earnings if you file separately. I'd borrow the whole shot and save the retirement fund, as you are likely to be making a payment based on income that does not even touch the principle and will result in a sizable amount of interest forgiven on a monthly basis. Yes, your interest rates will be higher on your debt than on your funds, but this isn't going to matter too much since some interest will be forgiven monthly (and the balance of your debt upon death). Borrowing the Stafford loans but not borrowing Grad Plus doesn't really make sense, as you are still paying a higher rate than your funds earn (at 6.8 for Stafford). You should count on filing separately, though, if you and your sig-o get hitched. You will also want to find out if a draw on your retirement fund will count as income for IBR or PAYE.

In short, borrow it all and save the nest egg.

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IAFG
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Re: Use stafford loans or retirement money?

Postby IAFG » Thu May 30, 2013 11:02 pm

A. Nony Mouse wrote:
IAFG wrote:
A. Nony Mouse wrote:So why does the government not set an age limit on loans? Why should someone who's 50-something not be able to take advantage of the same options as a 20-something? (Keep in mind the OP is planning to borrow 60K, has savings, and is not a few years away from retirement, unless you define 15-20 as "a few.") Again, I'm not saying it makes it any better a decision, but why is someone who wants to borrow $60K to go to the regional flagship at 52 suddenly a burden on the taxpayers when the same criticism doesn't get raised about the 24-year-old who wants to borrow $250K to go to Cal Western?

(And I know the above is slightly ridiculous, but I do think the shift to criticizing the decision as selfish was a bit much. There are plenty of other grounds on which to criticize the idea.)

You're asking why the Fed Gov doesn't codify agism?

So you're admitting it's ageist?

Would it be ageist to deny Federal loans to olds that are available to young people? ...yes, obviously?

BigZuck
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Re: Use stafford loans or retirement money?

Postby BigZuck » Fri May 31, 2013 9:24 am

thelawdoctor wrote:59 year old stripper


Fairly certain I saw this two Vegas trips ago.

OP- retake the LSAT, at the very least so you can squeeze a big scholarship out of one of these schools. The LSAT is learnable and the resources on this site are gold. Also, I don't want to be burdened with your debt.

thelawdoctor
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Re: Use stafford loans or retirement money?

Postby thelawdoctor » Fri May 31, 2013 2:44 pm

A. Nony Mouse wrote:
thelawdoctor wrote:The idea of it? Maybe, but not legally no.
Age Discrimination laws only apply between 40-60 (or something like that) so above that, too bad to sad.
And even then there are loopholes for various trades based on unique needs (no one wants a 59 year old stripper,etc)

But reverse discrimination based on age is out there too, "55 or better need only apply housing/employment/membership/Discounts/Credit,ect."

I just am thinking more slippery slope type concerns.

Um, no, actually the ADEA applies to people over 40, period.


I know I saw it for something once, If I ever remember what it was I'll post it. Until then, real life example of why it is ok to bill your clients to lookup stuff you thought you knew...............
Last edited by thelawdoctor on Fri May 31, 2013 2:50 pm, edited 1 time in total.

thelawdoctor
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Re: Use stafford loans or retirement money?

Postby thelawdoctor » Fri May 31, 2013 2:46 pm

IAFG wrote:
A. Nony Mouse wrote:
IAFG wrote:
A. Nony Mouse wrote:So why does the government not set an age limit on loans? Why should someone who's 50-something not be able to take advantage of the same options as a 20-something? (Keep in mind the OP is planning to borrow 60K, has savings, and is not a few years away from retirement, unless you define 15-20 as "a few.") Again, I'm not saying it makes it any better a decision, but why is someone who wants to borrow $60K to go to the regional flagship at 52 suddenly a burden on the taxpayers when the same criticism doesn't get raised about the 24-year-old who wants to borrow $250K to go to Cal Western?

(And I know the above is slightly ridiculous, but I do think the shift to criticizing the decision as selfish was a bit much. There are plenty of other grounds on which to criticize the idea.)

You're asking why the Fed Gov doesn't codify agism?

So you're admitting it's ageist?

Would it be ageist to deny Federal loans to olds that are available to young people? ...yes, obviously?


It could pass if the politicians were ok with never being re-elected. They would just have to prove that the harm to the pubic outweighed the rights of the person.
Govt does stuff like that all the time. Mandatory retirement is ageism, they still do it. Better examples are no doubt out there but it is the first that pops to mind.
Not letting people become officers at a certain age (even when they can still sign up as enlisted) is another.

EdBurke
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Re: Use stafford loans or retirement money?

Postby EdBurke » Fri May 31, 2013 3:42 pm

Hi folks, I'm an unusual case. I'm 52 and starting law school this fall. I've not been offered any scholarship money from the school I'll be attending (I do continue to pester, though).
I know there will be folks out there that want to suggest that law school is a bad idea for me. But I've thought it through, I'm definitely doing this, and that's not why I'm posting today.
I currently have $126K in 401K/IRA money which will all be turned over into IRAs once I quit my full-time job in August. Pulling money from an IRA for educational purposes spares me the 10% penalty that I would have otherwise incurred. I recognize that I'll have to pay income tax on the money I pull out but, trust me, I'll have made squat this year so it'll all come out in the wash come tax time (should get about 3K back next spring). I also will have about 20K in a savings account by August.
I make less than 24K a year in my job and have one dependent. Looks like I'm going to be offered $20,500 in Stafford loans for the upcoming school year (and presumably for my 2nd and 3rd years?). I will have other expenses that will come to about $1000 per month (rent, insurance, food, etc.). I also have to share my daughter's undergrad tuition expense with my ex. She's got two more years. That'll cost me about 20K total.
So...I guess my question is...(a financial guru I am not), at my age, do I use the loan money? Right now my retirement funds are earning more than 6% interest (the same interest charged on the Stafford loans). But do I really want to be 60K in debt when I pass the bar at 56 years of age? But then again, I have no other debt...nuthin'.
Who's got a creative angle for me? Thanks!!


The right answer from a financial perspective is to retake. If you are determined to go, there are certainly things you can do that make more financial sense, but without knowing your specific situation none of the following should be taken as professional advice. Talk to a CPA before trying any of it. You should take a day and talk to a financial professional anyway to sketch out the different scenarios, because the difference could be thousands of dollars.

Do you always claim your daughter as a dependent, do you trade with your ex, or is it worked out so whoever gets the biggest tax benefit claims her? Also, is she 23 or younger? Assuming you can claim her, and you aren't currently married, then you should ensure you work enough to make between $8,000 and $10,000 each year by any means necessary in order to take advantage of the Earned Income Credit and Education Credits (again, assuming your daughter doesn't earn a ton of money on her own - by hitting the sweet spot of income the government will be paying you several thousand dollars each year you are eligible).

The interest rate on Stafford loans is currently 6.8%, and there is a 1% origination fee, so the actual cost of borrowing is higher than 7%. Unlike whatever your retirement funds are invested in (probably stocks or some kind of mutual fund, and probably not an investment that just pays 7%+), by not taking out the loan you are guaranteed that rate of return. I would say take out between 12,500 - 17,500 from your IRA each year for four years (2013, 2014, 2015, 2016) - you don't want your Adjusted Gross Income too high. You will have two years in which you are head of household and claiming two exemptions, so your tax burden will be extremely minimal (if you itemize, if may be even less) and will be more than offset by the credits.

You should also be putting 6,500 into a Roth IRA each year, starting with this year (if you don't have a Roth IRA account, open one). Withdraw a little extra money from your IRA if you have to (up to the allowed exemption for educational expenses). The reason is that you'll only be earning 8,000-10,000 dollars, so your tax bracket will be very low, and you won't be paying any penalty because of the educational exemption. This means you can turn money that was not yet taxed into money that will never be taxed without paying a penalty or that much in tax at all.

Take out loans to cover the difference.

But really, you should retake.
Last edited by EdBurke on Fri May 31, 2013 4:12 pm, edited 1 time in total.

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organnie
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Re: Use stafford loans or retirement money?

Postby organnie » Fri May 31, 2013 3:52 pm

EdBurke wrote:
Hi folks, I'm an unusual case. I'm 52 and starting law school this fall. I've not been offered any scholarship money from the school I'll be attending (I do continue to pester, though).
I know there will be folks out there that want to suggest that law school is a bad idea for me. But I've thought it through, I'm definitely doing this, and that's not why I'm posting today.
I currently have $126K in 401K/IRA money which will all be turned over into IRAs once I quit my full-time job in August. Pulling money from an IRA for educational purposes spares me the 10% penalty that I would have otherwise incurred. I recognize that I'll have to pay income tax on the money I pull out but, trust me, I'll have made squat this year so it'll all come out in the wash come tax time (should get about 3K back next spring). I also will have about 20K in a savings account by August.
I make less than 24K a year in my job and have one dependent. Looks like I'm going to be offered $20,500 in Stafford loans for the upcoming school year (and presumably for my 2nd and 3rd years?). I will have other expenses that will come to about $1000 per month (rent, insurance, food, etc.). I also have to share my daughter's undergrad tuition expense with my ex. She's got two more years. That'll cost me about 20K total.
So...I guess my question is...(a financial guru I am not), at my age, do I use the loan money? Right now my retirement funds are earning more than 6% interest (the same interest charged on the Stafford loans). But do I really want to be 60K in debt when I pass the bar at 56 years of age? But then again, I have no other debt...nuthin'.
Who's got a creative angle for me? Thanks!!


The right answer from a financial perspective is to retake. If you are determined to go, there are certainly things you can do that make more financial sense, but without knowing your specific situation none of the following should be taken as professional advice. Talk to a CPA before trying any of it. You should take a day and talk to a financial professional anyway to sketch out the different scenarios, because the difference could be thousands of dollars.

Do you always claim your daughter as a dependent, do you trade with your ex, or is it worked out so whoever gets the biggest tax benefit claims her? Also, is she 23 or younger? Assuming you can claim her, and you aren't currently married, then you should ensure you work enough to make between $8,000 and $10,000 each year by any means necessary in order to take advantage of the Earned Income Credit and Education Credits (again, assuming your daughter doesn't earn a ton of money on her own - by hitting the sweet spot of income the government will be paying you several thousand dollars each year you are eligible).

The interest rate on Stafford loans is currently 6.8%, and there is a 1% origination fee, so the actual cost of borrowing is higher than 7%. Unlike whatever your retirement funds are invested in (probably stocks or some kind of mutual fund, and probably not an investment that just pays 7%+), by not taking out the loan you are guaranteed that rate of return. I would say take out between 12,500 - 17,500 from your IRA each year for four years (2013, 2014, 2015, 2016) - you don't want your Adjusted Gross Income too high. You will have two years in which you are head of household and claiming two exemptions, so your tax burden will be extremely minimal (if you itemize, if may be even less) and will be more than offset by the credits.

You should also be putting 5,000 into a Roth IRA each year, starting with this year (if you don't have a Roth IRA account, open one). Withdraw a little extra money from your IRA if you have to (up to the allowed exemption for educational expenses). The reason is that you'll only be earning 8,000-10,000 dollars, so your tax bracket will be very low, and you won't be paying any penalty because of the educational exemption. This means you can turn money that was not yet taxed into money that will never be taxed without paying a penalty or that much in tax at all.

Take out loans to cover the difference.

But really, you should retake.


Thanks a lot for this well-thought-out response. I actually, just an hour ago, scheduled an appointment with a highly-recommended financial advisor in the area. I'm going to print up your suggestions and bring them along with me.

thelawdoctor
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Re: Use stafford loans or retirement money?

Postby thelawdoctor » Mon Jun 03, 2013 4:23 pm

kappycaft1 wrote:I am not sure what your second LSAT score was, but it looks like your first attempt was a 142. Based on this, Pitt definitely gives out scholarships, and you are way above their 75th percentile for GPA. Their 75th percentile for LSAT is only a 160, so as long as you can get a 161ish score, you'd probably be looking at big bucks in scholarship. With diligent practice, this sort of score is easily attainable.


There are ABA law schools that would take that. If she knows Spanish, the ones in PR have an average lsat score in the 130's (not a joke, look it up)

Not saying she "should" but am saying she "could"

thelawdoctor
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Re: Use stafford loans or retirement money?

Postby thelawdoctor » Mon Jun 03, 2013 4:25 pm

organnie wrote:
EdBurke wrote:
Hi folks, I'm an unusual case. I'm 52 and starting law school this fall. I've not been offered any scholarship money from the school I'll be attending (I do continue to pester, though).
I know there will be folks out there that want to suggest that law school is a bad idea for me. But I've thought it through, I'm definitely doing this, and that's not why I'm posting today.
I currently have $126K in 401K/IRA money which will all be turned over into IRAs once I quit my full-time job in August. Pulling money from an IRA for educational purposes spares me the 10% penalty that I would have otherwise incurred. I recognize that I'll have to pay income tax on the money I pull out but, trust me, I'll have made squat this year so it'll all come out in the wash come tax time (should get about 3K back next spring). I also will have about 20K in a savings account by August.
I make less than 24K a year in my job and have one dependent. Looks like I'm going to be offered $20,500 in Stafford loans for the upcoming school year (and presumably for my 2nd and 3rd years?). I will have other expenses that will come to about $1000 per month (rent, insurance, food, etc.). I also have to share my daughter's undergrad tuition expense with my ex. She's got two more years. That'll cost me about 20K total.
So...I guess my question is...(a financial guru I am not), at my age, do I use the loan money? Right now my retirement funds are earning more than 6% interest (the same interest charged on the Stafford loans). But do I really want to be 60K in debt when I pass the bar at 56 years of age? But then again, I have no other debt...nuthin'.
Who's got a creative angle for me? Thanks!!


The right answer from a financial perspective is to retake. If you are determined to go, there are certainly things you can do that make more financial sense, but without knowing your specific situation none of the following should be taken as professional advice. Talk to a CPA before trying any of it. You should take a day and talk to a financial professional anyway to sketch out the different scenarios, because the difference could be thousands of dollars.

Do you always claim your daughter as a dependent, do you trade with your ex, or is it worked out so whoever gets the biggest tax benefit claims her? Also, is she 23 or younger? Assuming you can claim her, and you aren't currently married, then you should ensure you work enough to make between $8,000 and $10,000 each year by any means necessary in order to take advantage of the Earned Income Credit and Education Credits (again, assuming your daughter doesn't earn a ton of money on her own - by hitting the sweet spot of income the government will be paying you several thousand dollars each year you are eligible).

The interest rate on Stafford loans is currently 6.8%, and there is a 1% origination fee, so the actual cost of borrowing is higher than 7%. Unlike whatever your retirement funds are invested in (probably stocks or some kind of mutual fund, and probably not an investment that just pays 7%+), by not taking out the loan you are guaranteed that rate of return. I would say take out between 12,500 - 17,500 from your IRA each year for four years (2013, 2014, 2015, 2016) - you don't want your Adjusted Gross Income too high. You will have two years in which you are head of household and claiming two exemptions, so your tax burden will be extremely minimal (if you itemize, if may be even less) and will be more than offset by the credits.

You should also be putting 5,000 into a Roth IRA each year, starting with this year (if you don't have a Roth IRA account, open one). Withdraw a little extra money from your IRA if you have to (up to the allowed exemption for educational expenses). The reason is that you'll only be earning 8,000-10,000 dollars, so your tax bracket will be very low, and you won't be paying any penalty because of the educational exemption. This means you can turn money that was not yet taxed into money that will never be taxed without paying a penalty or that much in tax at all.

Take out loans to cover the difference.

But really, you should retake.


Thanks a lot for this well-thought-out response. I actually, just an hour ago, scheduled an appointment with a highly-recommended financial advisor in the area. I'm going to print up your suggestions and bring them along with me.


Wishing the best with whatever you decide, but please don't let them see you reading a sheet of opinions from TLS to ask life altering questions on................just don't. :shock:

thelawdoctor
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Re: Use stafford loans or retirement money?

Postby thelawdoctor » Mon Jun 03, 2013 4:27 pm

kappycaft1 wrote:The OP reminds me a lot of Elizabeth Paskiewicz. :roll:

I hate to say this, but damn shitboomers...


(from her rant)
"I am paying for law school through student loans. I will never get them paid off. I have been behind the "eight" ball my entire life. I do not know people who can give me a leg up or a hand to hold. I have had to fight my entire life to be where I am. Being an attorney is my last dream. I have fulfilled all of the others."

Isn't that like screaming "HELP I AM DROWNING AND NO ONE WANTS TO HELP ME!!!!!!!" followed by "And this is why I would like to ask you for a glass of water........."

Total Litigator
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Re: Use stafford loans or retirement money?

Postby Total Litigator » Tue Jun 04, 2013 10:18 am

thelawdoctor wrote:
kappycaft1 wrote:The OP reminds me a lot of Elizabeth Paskiewicz. :roll:

I hate to say this, but damn shitboomers...


(from her rant)
"I am paying for law school through student loans. I will never get them paid off. I have been behind the "eight" ball my entire life. I do not know people who can give me a leg up or a hand to hold. I have had to fight my entire life to be where I am. Being an attorney is my last dream. I have fulfilled all of the others."

Isn't that like screaming "HELP I AM DROWNING AND NO ONE WANTS TO HELP ME!!!!!!!" followed by "And this is why I would like to ask you for a glass of water........."


Or maybe "HELP I AM DROWNING, I CAN'T SWIM, AND NO ONE WANTS TO HELP ME!!!!!!! ... and this is why you should let me be a life guard at your pool."

thelawdoctor
Posts: 416
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Re: Use stafford loans or retirement money?

Postby thelawdoctor » Tue Jun 04, 2013 6:59 pm

Total Litigator wrote:
thelawdoctor wrote:
kappycaft1 wrote:The OP reminds me a lot of Elizabeth Paskiewicz. :roll:

I hate to say this, but damn shitboomers...


(from her rant)
"I am paying for law school through student loans. I will never get them paid off. I have been behind the "eight" ball my entire life. I do not know people who can give me a leg up or a hand to hold. I have had to fight my entire life to be where I am. Being an attorney is my last dream. I have fulfilled all of the others."

Isn't that like screaming "HELP I AM DROWNING AND NO ONE WANTS TO HELP ME!!!!!!!" followed by "And this is why I would like to ask you for a glass of water........."


Or maybe "HELP I AM DROWNING, I CAN'T SWIM, AND NO ONE WANTS TO HELP ME!!!!!!! ... and this is why you should let me be a life guard at your pool."

If she was offering to teach I'd agree with that but she was offering to be a student since "this will make me happy and I am better than your other more qualified students based on my failures in life"

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jrsbaseball5
Posts: 290
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Re: Use stafford loans or retirement money?

Postby jrsbaseball5 » Tue Jun 04, 2013 7:11 pm

thelawdoctor wrote:
kappycaft1 wrote:The OP reminds me a lot of Elizabeth Paskiewicz. :roll:

I hate to say this, but damn shitboomers...


(from her rant)
"I am paying for law school through student loans. I will never get them paid off. I have been behind the "eight" ball my entire life. I do not know people who can give me a leg up or a hand to hold. I have had to fight my entire life to be where I am. Being an attorney is my last dream. I have fulfilled all of the others."

Isn't that like screaming "HELP I AM DROWNING AND NO ONE WANTS TO HELP ME!!!!!!!" followed by "And this is why I would like to ask you for a glass of water........."


I don't think OP is nearly as bad as the lady.

To the OP, please please please don't use your retirement money whatever you do.

thelawdoctor
Posts: 416
Joined: Fri Jan 11, 2013 6:12 pm

Re: Use stafford loans or retirement money?

Postby thelawdoctor » Tue Jun 04, 2013 10:04 pm

jrsbaseball5 wrote:
thelawdoctor wrote:
kappycaft1 wrote:The OP reminds me a lot of Elizabeth Paskiewicz. :roll:

I hate to say this, but damn shitboomers...


(from her rant)
"I am paying for law school through student loans. I will never get them paid off. I have been behind the "eight" ball my entire life. I do not know people who can give me a leg up or a hand to hold. I have had to fight my entire life to be where I am. Being an attorney is my last dream. I have fulfilled all of the others."

Isn't that like screaming "HELP I AM DROWNING AND NO ONE WANTS TO HELP ME!!!!!!!" followed by "And this is why I would like to ask you for a glass of water........."


I don't think OP is nearly as bad as the lady.

To the OP, please please please don't use your retirement money whatever you do.

agreed on both parts

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Young Marino
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Re: Use stafford loans or retirement money?

Postby Young Marino » Sun Jun 09, 2013 8:42 am

Don't go to law school

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Sheffield
Posts: 411
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Re: Use stafford loans or retirement money?

Postby Sheffield » Sun Jun 09, 2013 9:33 am

IMHO, the only reason any of this makes sense is that the OP has a job lined up. Maybe I skimmed a bit too much, but how secure is this essentially guaranteed job in the wings? Would they offer a SA? Would they fund bar costs? What type of firm is this?

Is this a throw all caution to the wind in hopes that something might work out? I routinely oppose/criticize those trying to make a go of it at LS with less than a 85% employment record (Pitt is 50%). However, at 51, I understand the OPs desire to escape drowning in the safe dismal shallow waters. So, take the loans. Good luck.




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