Pursuing second degree to maxout options: total loan limit?

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Anonymous User
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Pursuing second degree to maxout options: total loan limit?

Postby Anonymous User » Wed Jul 04, 2012 4:44 pm

Question relates to amount of debt you can take on with grad plus loans if doing more edu after law school to further specialize in field of interest.
Last edited by Anonymous User on Wed Jul 04, 2012 8:16 pm, edited 1 time in total.

rad lulz
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Re: Pursuing second degree to maxout options: total loan limit?

Postby rad lulz » Wed Jul 04, 2012 5:13 pm

You are already anon, so out the programs n whatnot

lawschoolftw
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Re: Pursuing second degree to maxout options: total loan limit?

Postby lawschoolftw » Wed Jul 04, 2012 6:04 pm

I can't answer your question - but this sounds like financial suicide. I'm not sure what degree you're thinking about pursuing but I can't even imagine one (assuming you want to practice law) that's worth another 80k and two years of lost income.

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Re: Pursuing second degree to maxout options: total loan limit?

Postby Anonymous User » Wed Jul 04, 2012 6:09 pm

rad lulz wrote:You are already anon, so out the programs n whatnot



Really just wondering if anyone knows about grad plus loan debt limits/has experience with this type of scenario, not looking for feedback about the particular program or wisdom of doing it.

rad lulz
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Re: Pursuing second degree to maxout options: total loan limit?

Postby rad lulz » Wed Jul 04, 2012 7:24 pm

Anonymous User wrote:
rad lulz wrote:You are already anon, so out the programs n whatnot



Really just wondering if anyone knows about grad plus loan debt limits/has experience with this type of scenario, not looking for feedback about the particular program or wisdom of doing it.

The beauty of America is that you can get GradPLUS loans to finance your ruinous financial decision.

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fatduck
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Re: Pursuing second degree to maxout options: total loan limit?

Postby fatduck » Wed Jul 04, 2012 7:26 pm

there is no limit on grad plus loans

as long as you don't have adverse credit history (meaning delinquent payments, sadly, "having a retarded amount of debt" doesn't count), you can get more stupid loans

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Re: Pursuing second degree to maxout options: total loan limit?

Postby Anonymous User » Wed Jul 04, 2012 8:14 pm

Yeah, maybe not such a good thing, but the fact that higher edu costs are outrageous and that these loans are capped in terms of percentage of income at any one time needed to be paid back seems to me to make taking on very high amounts not categorically a bad decision when it comes to pursuing career path of choice.

Appreciate the answers for sure though!

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TTTehehe
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Re: Pursuing second degree to maxout options: total loan limit?

Postby TTTehehe » Wed Jul 04, 2012 8:23 pm

PT program?

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Re: Pursuing second degree to maxout options: total loan limit?

Postby Anonymous User » Wed Jul 04, 2012 8:48 pm

Anonymous User wrote:Yeah, maybe not such a good thing, but the fact that higher edu costs are outrageous and that these loans are capped in terms of percentage of income at any one time needed to be paid back seems to me to make taking on very high amounts not categorically a bad decision when it comes to pursuing career path of choice.

Appreciate the answers for sure though!


Be careful. There is no guarantee IBR will be around by the time you finish your degrees.

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Re: Pursuing second degree to maxout options: total loan limit?

Postby Anonymous User » Wed Jul 04, 2012 9:12 pm

TTTehehe wrote:PT program?



OP here: Good call. I'm looking into that, and actually I think that could be ideal. That way I could get experience in the legal area I am interested in (hopefully), bring in some money, and still start to work toward this other degree. I was thinking of going for a PhD in related area of interest to this master's I am now primarily interested in, but really am not ready for that type of time commitment and don't think I'd be ready to submit competitive application for PhD for a number of years anyway. Then also thought of just waiting to get a job that will pay for master's if it relates to whatever work I am doing, but not sure that will happen and I would like to get moving with this plan sooner than later since I am realizing it will probably help me move in the career direction I am most interested in. It is law-related, but not necessarily traditional practice.




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