How much debt are you going to graduate with?

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Black Hat
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Re: How much debt are you going to graduate with?

Postby Black Hat » Sat Jan 18, 2014 10:57 pm

jrd93 wrote:Which is why I specifically stated at the beginning of my post that I was not in law school. Since my post was relevant to your comment, but certainly not worthy of its own thread, I included it anyways.

No need to derail the thread.



I didn't make the rules.

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zozin
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Re: How much debt are you going to graduate with?

Postby zozin » Sat Jan 18, 2014 11:00 pm

Who cares when there's PAYE.

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Black Hat
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Re: How much debt are you going to graduate with?

Postby Black Hat » Sat Jan 18, 2014 11:03 pm

zozin wrote:Who cares when there's PAYE.



I guess no one if you don't care to have it hovering over you for the rest of your life.

fallingup
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Re: How much debt are you going to graduate with?

Postby fallingup » Mon Jan 20, 2014 7:27 am

90K. T14.

ket310
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Re: How much debt are you going to graduate with?

Postby ket310 » Mon Jan 20, 2014 10:21 am

Black Hat wrote:
unc0mm0n1 wrote:
paul554 wrote:-40k, I'll actually profit from going to law school. Oh GI Bill how I adore thee.


This. The military has definitely paid me back for my time (with interest).



Absolutely!

My debt will be $46,406.58 when done. Edit: I forgot to mention this is without interest, so probably more like $50k. All my loans are Stafford as well. The interest rate isn't bad.

GI Bill covers my in state tuition, plus $1300 a month (during the school year) for living expenses, and $1000 a year for books.

I live quite well, I could probably live off the GI Bill alone with no loans. But ... I like living well with no budget!


Same here. I've been serving 2 yrs and will be going to law school in 2 yrs.
Hopefully when I graduate law school, I'll have about $50K saved up for 10% down payment on a house.

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KD35
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Re: How much debt are you going to graduate with?

Postby KD35 » Mon Jan 20, 2014 3:44 pm

ket310 wrote:
Black Hat wrote:
unc0mm0n1 wrote:
paul554 wrote:-40k, I'll actually profit from going to law school. Oh GI Bill how I adore thee.


This. The military has definitely paid me back for my time (with interest).



Absolutely!

My debt will be $46,406.58 when done. Edit: I forgot to mention this is without interest, so probably more like $50k. All my loans are Stafford as well. The interest rate isn't bad.

GI Bill covers my in state tuition, plus $1300 a month (during the school year) for living expenses, and $1000 a year for books.

I live quite well, I could probably live off the GI Bill alone with no loans. But ... I like living well with no budget!


Same here. I've been serving 2 yrs and will be going to law school in 2 yrs.
Hopefully when I graduate law school, I'll have about $50K saved up for 10% down payment on a house.


You'll walk away from LS with zero debt and $50k in the bank?

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Black Hat
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Re: How much debt are you going to graduate with?

Postby Black Hat » Mon Jan 20, 2014 3:54 pm

I don't think so unless you have a wife who is paying the bills. You cant work during law school so your living expenses have to come from somewhere.

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KD35
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Re: How much debt are you going to graduate with?

Postby KD35 » Mon Jan 20, 2014 4:14 pm

Black Hat wrote:I don't think so unless you have a wife who is paying the bills. You cant work during law school so your living expenses have to come from somewhere.

As earlier said above, GI Bill pays for something like $1300/month in living expenses. I just don't see how serving in the military and saving up money + GI Bill can total walking away from LS with $50k in the bank. Seems a bit high, even if you went to a state school for law school.

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Black Hat
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Re: How much debt are you going to graduate with?

Postby Black Hat » Mon Jan 20, 2014 4:45 pm

KD35 wrote:
Black Hat wrote:I don't think so unless you have a wife who is paying the bills. You cant work during law school so your living expenses have to come from somewhere.

As earlier said above, GI Bill pays for something like $1300/month in living expenses. I just don't see how serving in the military and saving up money + GI Bill can total walking away from LS with $50k in the bank. Seems a bit high, even if you went to a state school for law school.



Yeah, I'm the one who said that above. I get $1300 a month to live on. (DURING THE SCHOOL YEAR, during the summer I'm on my own). That is not enough. The $1300 covers my bare bones monthly expenses. I MUST take loans, I have no other income.

My tuition is completely covered and so are my books, as long as I buy from Amazon/Half.com

Knowing that, I don't think there is a way to walk away with 50K in the bank UNLESS you have a wife who is paying the bills/or parents.
Last edited by Black Hat on Thu Jan 23, 2014 5:12 pm, edited 1 time in total.

paul554
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Re: How much debt are you going to graduate with?

Postby paul554 » Thu Jan 23, 2014 10:43 am

KD35 wrote:
Black Hat wrote:I don't think so unless you have a wife who is paying the bills. You cant work during law school so your living expenses have to come from somewhere.

As earlier said above, GI Bill pays for something like $1300/month in living expenses. I just don't see how serving in the military and saving up money + GI Bill can total walking away from LS with $50k in the bank. Seems a bit high, even if you went to a state school for law school.


I'll have about 40k in the bank in the end. VA disability is added to my overall income, and I have some scholarships that I got coded for tuition OR living expenses. This way the school can apply the GI bill first and then cash out my scholarship.

This is a great deal BUT bear in mind there are other costs. I have PTSD/TBI, shoulder pain and hip/back pain every day for the rest of my life. I'd rather be in great health with debt then in my current beat down condition so don't assume that the military is just an easy way to get through school debt free.

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Black Hat
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Re: How much debt are you going to graduate with?

Postby Black Hat » Thu Jan 23, 2014 5:14 pm

paul554 wrote:
KD35 wrote:
Black Hat wrote:I don't think so unless you have a wife who is paying the bills. You cant work during law school so your living expenses have to come from somewhere.

As earlier said above, GI Bill pays for something like $1300/month in living expenses. I just don't see how serving in the military and saving up money + GI Bill can total walking away from LS with $50k in the bank. Seems a bit high, even if you went to a state school for law school.


I'll have about 40k in the bank in the end. VA disability is added to my overall income, and I have some scholarships that I got coded for tuition OR living expenses. This way the school can apply the GI bill first and then cash out my scholarship.

This is a great deal BUT bear in mind there are other costs. I have PTSD/TBI, shoulder pain and hip/back pain every day for the rest of my life. I'd rather be in great health with debt then in my current beat down condition so don't assume that the military is just an easy way to get through school debt free.



Well my job was not nearly as difficult as yours. I was not combat arms, so you did the real work! But I would definitely not say that the military is the easy way!

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3|ink
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Re: How much debt are you going to graduate with?

Postby 3|ink » Thu Jan 23, 2014 10:24 pm

60k

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TTRansfer
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Re: How much debt are you going to graduate with?

Postby TTRansfer » Sun Jan 26, 2014 8:42 pm

Fuck it. I am almost assuredly going to do PAYE.

I'll pay the minimum and invest something like a grand or so each month as both an emergency fund and to plan for the tax bomb.




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