Anon wrote:RaceJudicata wrote:Anonymous User wrote:Hey guys - reading this thread has been very helpful so just wanna thank the community off the bat. I'm an 0L but I'm very specific circumstances so want to get some feeedback.
I'll be 27 when I start LS a this fall, and I've been working for the past few years since graduating. Because of a great deal of luck and some hard work, I've been able to save up around $600k. I'm not exactly sure what I'd like to do after law school, but I think I'd like to work for the government or clerk and also perhaps try my hand at big law for a few years. Pretty undefined I know but I suspect I'll realize where I'm headed once Im in the thick of it. Now, my question is how should I approach paying for law school. I see several options.
Considering law school will cost somewhere betwee $230-300k before interest (I've gotten no scholarships or need based aid from the schools I'm considering):
1. Invest in some dividend generating stocks. Earn around 6-7% if I can swing it, pay off some off the debt with the dividend income as I go along. I think this is a decent idea.
2. Not pay anything but invest the money wisely and let it grow in the meantime. A lot of assets + a lot of debt when I'm done. This feels scarier.
3. Pay it off in full as I go. This seems like the worst idea unless I absolutely hate the idea of debt and want 100% flexibility when I'm done, which I don't.
I know this is all pretty loose but hopefully enough to get some tips. Thanks in advance.
Edit: if my post is confusing or unclear (likely) I'm happy to clarify.
Why, may I ask, are you going to law school? (It doesn't seem like you have any particular goal in mind). And please - for the love of god - tell me that you are going to a T14 school with this nest egg...
As for advice, I'll defer to others...but I suspect the sentiment will be to skip law school altogether so you don't have to worry about trashing this pile of $$
I appreciate the advice not to go to law school, sincerely. I've noticed it's a prevailing sentiment in these boards. But lets assume I've gone through all the considerations and am committed to going. It will be a t14 and potentially a t6 depending on how things pan out. Thanks again.
Potentially a T6 without any merit aid from T14? That a thing?