How to Cash Flow From Graduation- Bar Passage

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jared6180
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Joined: Mon Jan 31, 2011 11:47 pm

How to Cash Flow From Graduation- Bar Passage

Postby jared6180 » Sat Jul 27, 2013 10:25 pm

I am thinking ahead and wondering how recent LS grads cash flow life from graduation- Bar Passage? I think that is a window of about 6 months where you are to smart for law school, but not smart enough to practice... Just trying to think/plan ahead incase BigLaw doesn't happen.

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cinephile
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Re: How to Cash Flow From Graduation- Bar Passage

Postby cinephile » Sat Jul 27, 2013 11:17 pm

You save. If you're not earning enough if the summer (or during the school year) to save, try to cut back on expenses and save from the loan money you're given for living expenses and stretch it to cover 3L summer. After you take the bar but before you're admitted, work in any job to cover living expenses. Don't just sit around waiting to hear back about bar passage.

some people also get bar loans.

jml8756
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Joined: Fri Mar 12, 2010 6:58 pm

Re: How to Cash Flow From Graduation- Bar Passage

Postby jml8756 » Sat Jul 27, 2013 11:51 pm

Here are some ways in order of advisability:

1. Savings
2. Scholarships/stipends if public interest
3. Advance from your firm if Big Law
4. Move back in with parents while studying
5. Get a part time job waiting tables or bar tending
6. Additional loans

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DocHawkeye
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Re: How to Cash Flow From Graduation- Bar Passage

Postby DocHawkeye » Sun Jul 28, 2013 12:23 am

jml8756 wrote:Here are some ways in order of advisability:

1. Savings
2. Scholarships/stipends if public interest
3. Advance from your firm if Big Law
4. Move back in with parents while studying
5. Get a part time job waiting tables or bar tending
6. Additional loans


7. Get married, sponge off spouse.

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IAFG
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Re: How to Cash Flow From Graduation- Bar Passage

Postby IAFG » Sun Jul 28, 2013 12:28 am

Lots (most?) people move back in with the parents. They don't call us the boomerang generation for nothing.

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Helmholtz
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Re: How to Cash Flow From Graduation- Bar Passage

Postby Helmholtz » Sun Jul 28, 2013 12:30 am

According to the guy sitting behind me at the MPRE: Move back in with parents and babysit the children of relatives for some cash over the summer.

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DocHawkeye
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Re: How to Cash Flow From Graduation- Bar Passage

Postby DocHawkeye » Sun Jul 28, 2013 12:31 am

IAFG wrote:Lots (most?) people move back in with the parents. They don't call us the boomerang generation for nothing.


Would it be rude is my entire family (i.e.: my wife and kids) moved in with my parents?

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IAFG
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Re: How to Cash Flow From Graduation- Bar Passage

Postby IAFG » Sun Jul 28, 2013 12:32 am

DocHawkeye wrote:
IAFG wrote:Lots (most?) people move back in with the parents. They don't call us the boomerang generation for nothing.


Would it be rude is my entire family (i.e.: my wife and kids) moved in with my parents?

Me, my husband and my baby moved in with my in-laws...

TooOld4This
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Re: How to Cash Flow From Graduation- Bar Passage

Postby TooOld4This » Sun Jul 28, 2013 9:15 am

If you have a job lined up at a big firm, you will have more options. First, your start date may be well in advance of bar passage (as early as September). Second, many big law firms offer either stipends or salary advances.

Otherwise, you should plan for the gap well in advance. Seek out part-time work for your 3L year that will allow you to save or, even better, last until you are admitted.




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