JCougar wrote:fl0w wrote:romothesavior wrote:fl0w wrote:I'm complaining, but at $35/hr I guess I should just put my head down and do it.
For that kinda money, you should just shut your damn mouth. Sounds like a pretty baller gig (and I know your internship is as well).
Yeah, it's a lot of work but also very good pay for what I'm actually doing.
I can't imagine what it might be like to make a firm salary. I don't even know what I'd do with all that scrilla.
Pay off your loans?
If I miraculously get a biglaw job, I'm going to try and put about half my salary toward loan repayment for the first 2 years or so. Putting a big dent in this early is a good way to avoid a ton of compounding interest.
On a depressing note, I calculated what my repayment schedule would be like if I get a federal government job out of this internship and do the 10-year loan forgiveness plan (the one where you pay 15% of your income to your loans for 10 years, and then they are forgiven after that). But if I start at a federal government job at the GS-11 level (it's what the EEOC attorneys start out at, which in DC, equates to $62K/year), 15% of my income won't even cover the interest accruing. So after 9 years, I'll owe more on my loans than I will when I graduate, unless I get a couple promotions along the way. Basically, it means that if I go the government route, I'd have to lock myself in to working 10 years there at a minimum...otherwise I'm completely screwed.
Just another sign of how nuts the law school system is these days. Less than 25% of graduates are going to be able to get jobs that give them a legitimate chance of paying off the price of tuition. Indentured servitude is back in style.
if you are planning on sticking out the 10 years anyway, it shouldnt matter what the total of the principal is.... realistically, working a job with good hours, in a city you like for 10 years, and then maybe moving into the private sector might not be an awful proposition...