TLS may very well have saved me 150K+ in debt. Thank You

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TOMaHULK
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TLS may very well have saved me 150K+ in debt. Thank You

Postby TOMaHULK » Fri Apr 15, 2011 6:34 pm

:roll:

I got into several schools which I thought were decent. All are TTTT.

Although each school offered scholly $ (a mere fraction, as they are private schools), that would most likely leave 150K + remaining to be taken out in student loans.

If you tell yourself something enough, not only will you eventually start to believe your own garbage, but you'll throw reason out the window and actually argue your non logical points in defense of your goal (which is assuring yourself that you're right and your decision is the correct one).

Many members of this forum attempt to warn people against the debt that law school students may possibly acquire. Many members attempt to give solid advice regarding TTT and TTTT schools and the low placement rates post graduation (even the low job placement with T and TT schools).

I wanted to ignore this advice because I took a "I'm right and they're hating" mentally.

Reality is this = 200k in debt is a huge financial decision (not to mention any debt you have going into LS). You may graduate and not have a job. Those loans...they won't just go away.

I know several young attorneys that are attempting to do well. But they don't have any other choice. They've already acquired the loan debt and must move forward to make the best of their decisions and choices now. I have a friend that has apx $191,000 in LS loans. He's attempting to start his own firm. He may very well be successful. However, he currently lives with his parents and although he's making a decent salary working for his folks (he probably didn't need LS to do this), he has huge loan payments. I know 3 other attorneys and yes, each of them had to move home with their parents.

I have a solid job (perhaps not making what they have the potential to make one day, but it's decent) and do not have the loans that they have. So I'm actually ahead of the curve when you factor in what they are actually taking home, after their loan payments.

I feel that it would be foolish to make this decision based on "what ifs"...because until now I really haven't seen a bunch of young lawyer success stories. Right now I've asked for extentions from schools on the deposits. Perhaps I'll defer one acceptance for a year. If in a year I still want to go, and cannot get into a TT school, I'll have that as an option at least.

I just want to say THANK YOU to those whom actually use logic to try to help people BEFORE they get into trouble.

(Note: I think if you really want to go to TTT or TTTT, then that's you're choice. I'm only speaking about my own personal life.)

Oblivion_08
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby Oblivion_08 » Fri Apr 15, 2011 6:38 pm

Although I find it weak that a couple of people on this site can steer you away from your dream so easily(i'm sure law school wasn't your real dream or passion anyway), I respect your decision, and good luck in your future endeavors.

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The Valkyrie
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby The Valkyrie » Fri Apr 15, 2011 6:38 pm

good thread. I went to a t1 and I live with my parents. my loans are about 1100 a month - its a lot. theyve been really cool and letting me rent their guest house (3 bedroom) for 300 per month. I would really be scrapping and eating ramen if it werent for them.

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dood
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby dood » Fri Apr 15, 2011 6:40 pm

or perhaps tls talked u out of an awesome life where u fullfilled every one of ur dreams by doing what u are most passionate about, which is priceless

good luck hth

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drdolittle
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby drdolittle » Fri Apr 15, 2011 6:43 pm

Sounds like you never had a really good reason to attend law school in the first place, which of course happens at all tiers.

TOMaHULK
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby TOMaHULK » Fri Apr 15, 2011 6:46 pm

Oblivion_08 wrote:Although I find it weak that a couple of people on this site can steer you away from your dream so easily(i'm sure law school wasn't your real dream or passion anyway), I respect your decision, and good luck in your future endeavors.


I am passionate about law. But from work experience I can tell you that I personally saw wage garnishments, the majority of which were either student loan or child support. It's a reality check that NO those loans don't just go away if you cannot pay them. This is sorta a double edged sword. On one hand, I had work experience which showed me the cruel reality of debt, due to school. On the other hand, yes that sways me from pursuing a passion.

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Mce252
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby Mce252 » Fri Apr 15, 2011 6:47 pm

drdolittle wrote:Sounds like you never had a really good reason to attend law school in the first place, which of course happens at all tiers.



I don't think he mentioned much about motivational factors. From what OP said, the risk wasn't worth it.

TOMaHULK
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby TOMaHULK » Fri Apr 15, 2011 6:48 pm

The Valkyrie wrote:good thread. I went to a t1 and I live with my parents. my loans are about 1100 a month - its a lot. theyve been really cool and letting me rent their guest house (3 bedroom) for 300 per month. I would really be scrapping and eating ramen if it werent for them.


I'm sorry to hear that. Unfortunately, that wouldn't be an option for me as my father is deceased and my mother is not in a position to offer assistance. You should be very thankful for them.

Did you apply to have your loan payments reduced to 10% of your pay? I know that this is an option, but some do not qualify to do this.
Last edited by TOMaHULK on Fri Apr 15, 2011 6:50 pm, edited 1 time in total.

TOMaHULK
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby TOMaHULK » Fri Apr 15, 2011 6:50 pm

Mce252 wrote:
drdolittle wrote:Sounds like you never had a really good reason to attend law school in the first place, which of course happens at all tiers.



I don't think he mentioned much about motivational factors. From what OP said, the risk wasn't worth it.


Thanks for this post. I'm extremely motivated. I'm also, unfortunately (to a degree) a much more mature person than I was when I graduated from my UG 5 years ago. I've had bills/responsibilities that I didn't have in my undergrad. You realize that things are tough out here and no one is going to be there to pick you up if you fall on hard times (at least in my case).
Last edited by TOMaHULK on Fri Apr 15, 2011 6:51 pm, edited 1 time in total.

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drdolittle
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby drdolittle » Fri Apr 15, 2011 6:50 pm

Mce252 wrote:
drdolittle wrote:Sounds like you never had a really good reason to attend law school in the first place, which of course happens at all tiers.

I don't think he mentioned much about motivational factors. From what OP said, the risk wasn't worth it.

He/She didn't have to. True goal wasn't compelling enough to counterbalance risk. It' better to figure this out early than too late.

TOMaHULK
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby TOMaHULK » Fri Apr 15, 2011 6:53 pm

drdolittle wrote:
Mce252 wrote:
drdolittle wrote:Sounds like you never had a really good reason to attend law school in the first place, which of course happens at all tiers.

I don't think he mentioned much about motivational factors. From what OP said, the risk wasn't worth it.

He/She didn't have to. True goal wasn't compelling enough, to counterbalance risk. It' better to figure this out early than too late.


I'd agree with this to an extent.

I've had friends that were 3Ls and have told me "I wish I wouldn't have went to LS. But with my debt, now I must continue to pursue." Now a days they attempt to forget what they said and look at the brighter side. However, I remember these conversations when they were at their low points and at least being honest at the time.

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Mce252
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby Mce252 » Fri Apr 15, 2011 6:57 pm

Is there a goal coming out of TTTT or TTT that would justify 150K in debt?

TOMaHULK
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby TOMaHULK » Fri Apr 15, 2011 7:02 pm

Mce252 wrote:Is there a goal coming out of TTTT or TTT that would justify 150K in debt?


I'd like to be a litigator. I really don't know how plausible that would be out of TTTT.

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drdolittle
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby drdolittle » Fri Apr 15, 2011 7:05 pm

Mce252 wrote:Is there a goal coming out of TTTT or TTT that would justify 150K in debt?

Not to me. Though to be fair, the relevant goal is not to graduate from a particular tier 3/4 school, it's to get a JD and to practice law, whatever that might entail. There are people out there who, for unique reasons, cannot want to or imagine doing anything else. If one's absolutely sure of this, and the clear risks are not enough of a discouragement, then it doesn't have to make sense to anyone else. That's just life.

TOMaHULK
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby TOMaHULK » Fri Apr 15, 2011 7:09 pm

drdolittle wrote:
Mce252 wrote:Is there a goal coming out of TTTT or TTT that would justify 150K in debt?

Not to me. Though to be fair, the relevant goal is not to graduate from a particular tier 3/4 school, it's to get a JD and to practice law, whatever that might entail. There are people out there who, for unique reasons, cannot want to or imagine doing anything else. If one's absolutely sure of this, and the clear risks are not enough of a discouragement, then it doesn't have to make sense to anyone else. That's just life.


The question that I keep asking myself is this: "Would I feel comfortable buying a 200K house right now?" That's essentially the same fiscal investment. Although if I can't get a job, I can't live in my JD. That's a scary position to be in.

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drdolittle
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby drdolittle » Fri Apr 15, 2011 7:12 pm

TOMaHULK wrote:
drdolittle wrote:
Mce252 wrote:Is there a goal coming out of TTTT or TTT that would justify 150K in debt?

Not to me. Though to be fair, the relevant goal is not to graduate from a particular tier 3/4 school, it's to get a JD and to practice law, whatever that might entail. There are people out there who, for unique reasons, cannot want to or imagine doing anything else. If one's absolutely sure of this, and the clear risks are not enough of a discouragement, then it doesn't have to make sense to anyone else. That's just life.


The question that I keep asking myself is this: "Would I feel comfortable buying a 200K house right now?" That's essentially the same fiscal investment. Although if I can't get a job, I can't live in my JD. That's a scary position to be in.

It definitely sounds like you made the right decision then.

Meerkat Manor
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby Meerkat Manor » Fri Apr 15, 2011 7:13 pm

ur welcome dawg

Oblivion_08
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby Oblivion_08 » Fri Apr 15, 2011 7:14 pm

Or..you can bust your ass off..get to the top of your class and take a nice scholarship from the school to minimize your debt. 150k in debt is a pretty crazy number..i've calculated about 100k debt out of the tier 3 I'm going to attend(assuming I don't get any scholarships). But OP i don't understand where you're coming from, luckily my parents will let fall back on them..I'm thankful for that, and I didn't know your situation. Good luck, and keep in mind you can't put a price on education, and no matter what..if you try hard enough you'll get to where you want to get to.

TOMaHULK
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby TOMaHULK » Fri Apr 15, 2011 7:15 pm

drdolittle wrote:
TOMaHULK wrote:
drdolittle wrote:
Mce252 wrote:Is there a goal coming out of TTTT or TTT that would justify 150K in debt?

Not to me. Though to be fair, the relevant goal is not to graduate from a particular tier 3/4 school, it's to get a JD and to practice law, whatever that might entail. There are people out there who, for unique reasons, cannot want to or imagine doing anything else. If one's absolutely sure of this, and the clear risks are not enough of a discouragement, then it doesn't have to make sense to anyone else. That's just life.


The question that I keep asking myself is this: "Would I feel comfortable buying a 200K house right now?" That's essentially the same fiscal investment. Although if I can't get a job, I can't live in my JD. That's a scary position to be in.

It definitely sounds like you made the right decision then.


I don't know that it's "the right" decision. As I said I asked for extentions on my deposits (which was granted). This will allow me more time to think it through.

But...for the first time, some of the advice on here is actually sinking in. It's such a large investment that may actually pay me less a month than I'm currently making (no-not balling).

TOMaHULK
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby TOMaHULK » Fri Apr 15, 2011 7:16 pm

Oblivion_08 wrote:Or..you can bust your ass off..get to the top of your class and take a nice scholarship from the school to minimize your debt. 150k in debt is a pretty crazy number..i've calculated about 100k debt out of the tier 3 I'm going to attend(assuming I don't get any scholarships). But OP i don't understand where you're coming from, luckily my parents will let fall back on them..I'm thankful for that, and I didn't know your situation. Good luck, and keep in mind you can't put a price on education, and no matter what..if you try hard enough you'll get to where you want to get to.


I'm hoping to get where I want to go. Thanks.
Last edited by TOMaHULK on Fri Apr 15, 2011 7:17 pm, edited 1 time in total.

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FeelTheHeat
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby FeelTheHeat » Fri Apr 15, 2011 7:17 pm

Oblivion_08 wrote:Or..you can bust your ass off..get to the top of your class and take a nice scholarship from the school to minimize your debt. 150k in debt is a pretty crazy number..i've calculated about 100k debt out of the tier 3 I'm going to attend(assuming I don't get any scholarships). But OP i don't understand where you're coming from, luckily my parents will let fall back on them..I'm thankful for that, and I didn't know your situation. Good luck, and keep in mind you can't put a price on education, and no matter what..if you try hard enough you'll get to where you want to get to.


Suddenly this post...

Oblivion_08 wrote:Although I find it weak that a couple of people on this site can steer you away from your dream so easily(i'm sure law school wasn't your real dream or passion anyway), I respect your decision, and good luck in your future endeavors.


...makes a lot more sense :D

Oblivion_08
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby Oblivion_08 » Fri Apr 15, 2011 7:21 pm

Okay.

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Magnolia
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby Magnolia » Fri Apr 15, 2011 7:22 pm

Oblivion_08 wrote:Or..you can bust your ass off..get to the top of your class and take a nice scholarship from the school to minimize your debt. 150k in debt is a pretty crazy number..i've calculated about 100k debt out of the tier 3 I'm going to attend(assuming I don't get any scholarships). But OP i don't understand where you're coming from, luckily my parents will let fall back on them..I'm thankful for that, and I didn't know your situation. Good luck, and keep in mind you can't put a price on education, and no matter what..if you try hard enough you'll get to where you want to get to.

And just when I thought we were finally getting through to people. Sigh.

OP, ignore the unhelpful or sarcastic comments in this thread. You're making a very smart, mature decision. It's one I wish more people would make. Best of luck to you with whatever you decide to pursue.
Last edited by Magnolia on Fri Apr 15, 2011 7:25 pm, edited 1 time in total.

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loblaw
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby loblaw » Fri Apr 15, 2011 7:22 pm

Oblivion_08 wrote:Although I find it weak that a couple of people on this site can steer you away from your dream so easily(i'm sure law school wasn't your real dream or passion anyway), I respect your decision, and good luck in your future endeavors.


Oblivion_08 wrote:Or..you can bust your ass off..get to the top of your class and take a nice scholarship from the school to minimize your debt. 150k in debt is a pretty crazy number..i've calculated about 100k debt out of the tier 3 I'm going to attend(assuming I don't get any scholarships). But OP i don't understand where you're coming from, luckily my parents will let fall back on them..I'm thankful for that, and I didn't know your situation. Good luck, and keep in mind you can't put a price on education, and no matter what..if you try hard enough you'll get to where you want to get to.


Assuming that busting your ass=nice scholarship offer is completely illogical. You skipped the "get good grades" step, which does not necessarily follow from "busting your ass," especially not in law school. A lot of people on this site wait/reapply, and a lot of them are going to T20s on nice scholarships that don't require them to mortgage their future on the assumption that they'll be able to divine what every law professor is expecting on every test.

Don't be a douchebucket.

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AntipodeanPhil
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Re: TLS may very well have saved me 150K+ in debt. Thank You

Postby AntipodeanPhil » Fri Apr 15, 2011 7:23 pm

FeelTheHeat wrote:Suddenly this post...

Oblivion_08 wrote:Although I find it weak that a couple of people on this site can steer you away from your dream so easily(i'm sure law school wasn't your real dream or passion anyway), I respect your decision, and good luck in your future endeavors.


...makes a lot more sense :D

+1

People often seem to justifying their own decisions in these threads on TLS.




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