Presidentjlh wrote:lhanvt13 wrote:I know. Overall debt would be rough, 179k, but you only have $748 a month in payments.
this right ?
could I see ur calculations if you don't mind ? literally just woke up. I love weekends
edit: middle one I mean
Loan Balance: $105,000.00
Adjusted Loan Balance: $105,000.00
Loan Interest Rate: 5.94%
Loan Fees: 0.00%
Loan Term: 20 years
Minimum Payment: $50.00
Degree Program: Lawyer (LLB or JD)
Monthly Loan Payment: $748.62
Number of Payments: 241
Cumulative Payments: $179,670.01
Total Interest Paid: $74,670.01
http://www.finaid.org/calculators/scrip ... yments.cgi
That's if I can get my scholarship upped to 30k a year. Again, huge amount of debt, but, I could live with that, especially if one assumes their pay increases as they get more experience. I calculated the expected value of a WUSTL legal education.
137 people are in private law firms, 51 corporate from the class of 2012 out of 300 The median private-sector salary is high at 100k, so let's be more realistic, say, 80k. PI, Gov't, and clerkships are 25+33+16 = 74 out of 300. Median public is probably 50k
80k*.627 + 50k*.246 = $62460 = expected value.[/quote]
I can get behind that. did you account for the unemployed/advanced degree seeking? I doubt that'll be you but just for a more accurate expected. either way, with experience this will be much more doable. Also with the .5+.5% = 1% discount for opening up checking and automatic repayment, the int rate cant be as low as 4.94, which in case, would bring it down even more. I'm trying to see if there's a catch.
BTW finally somebody who understands statistics \^0^/ yay