Anonymous User wrote:If I took about 60k in loans total for law school, with 7% interest rate, how soon would I be able to pay off my loans? Has anyone had this amount that maybe could tell me how much it went up after LS due to interest.
I have a 1L SA in a secondary market. Assuming I stay there next year (hopefully), and then get offered, the starting salary is about $140k.
I took out almost exactly $60k at around 7%. By date of first payment, I owed just about $69k (But note that this might be skewed high because more than half of my loan dollars were taken during 1L year.)
Anyway, I paid off aggressively. I was done in 13 months (i.e., January of my second year). I had some savings, was paid slightly above NYC market, and lived cheaply in a secondary market. I think that you should be able to pay off ~$60k at your salary in a couple years, even accounting for savings/emergency fund.