What are you doing to minimize student loan debt?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
wtroberts
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What are you doing to minimize student loan debt?

Postby wtroberts » Thu Sep 21, 2017 10:51 am

What are some things you are doing to minimize debt during law school?

Did you go to a cheaper school (both in COL and in tuition)? Move in with your parents? Save up money before going to school? Are you working while you are in school and paying tuition?

Also, would you be willing to go to a lower ranked school if it meant you could save tens of thousands on your education through scholarships?

Any ideas would be appreciated!

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Platopus
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Re: What are you doing to minimize student loan debt?

Postby Platopus » Thu Sep 21, 2017 11:22 am

wtroberts wrote:What are some things you are doing to minimize debt during law school?

Did you go to a cheaper school (both in COL and in tuition)? Move in with your parents? Save up money before going to school? Are you working while you are in school and paying tuition?

Also, would you be willing to go to a lower ranked school if it meant you could save tens of thousands on your education through scholarships?

Any ideas would be appreciated!


Not intending to be a smartass, but I think step one for minimizing law school debt is maxing out your LSAT potential.

cavalier1138
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Re: What are you doing to minimize student loan debt?

Postby cavalier1138 » Thu Sep 21, 2017 11:38 am

Answers to all these questions vary based on your situation

Should you go to a cheaper school? Sure. Except there are very few decent schools that have markedly different tuition rates. A scholarship at a more expensive school usually eliminates the difference. You can also consider COL, but if you aren't going to a T13 (and even if you are in some cases), major metropolitan areas offer more job opportunities.

Should you go to a lower ranked school with a better scholarship? Sure. But it depends on what specific schools you're comparing and what your goals are. Should you go to Cooley for free over Harvard at sticker? Of course not. But you also should never find yourself in a situation where your options are bad-school-for-free or good-school-for-sticker.

Should you work while in school? I definitely wouldn't recommend doing that during 1L.

As already mentioned, your best option is to get an LSAT that gets you in to a school that is optimal for your goals at a price that you can reasonably pay off after graduation.

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Hand
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Re: What are you doing to minimize student loan debt?

Postby Hand » Thu Sep 21, 2017 11:45 am

retake

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poptart123
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Re: What are you doing to minimize student loan debt?

Postby poptart123 » Thu Sep 21, 2017 11:57 am

Only take out what you need in loans. Eat ramen, eggs, beans, and rice, more than anything else. You don't meed manchego... hell... you don't even need brie.




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