TLS c/o 2020 - In #Squad We Trust

Share Your Experiences, Read About Other Experiences. Please keep posts organized by school and expected year of graduation.

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Total votes: 12

thatblondegirl

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby thatblondegirl » Tue Apr 11, 2017 6:50 pm

Does anybody here have a 401k? If so, what are y'all planning on doing with it while in lawl school?

Hennessy

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby Hennessy » Tue Apr 11, 2017 6:51 pm

TexasENG wrote:
HennessyVSOP wrote:I am confused as fuck about loans.

From what I now understand, you are only allowed to take fed loans (Unsubsidized + PLUS) up to the amount of your school's COA, minus any scholarship you receive.

So if you have a full scholarship, you can only take what the school estimates as the COA in Fed loans.

is this correct?


Yes. This is why a lot of schools will "overestimate" col for the categories they list. There are things (car, car insurance etc) that they are not allowed to include in COL estimates so you would need to find independent money if you have something like that


Well shit

I was hoping to be able to pay off my seat deposits and moving expenses with Fed loans...

Dr.Degrees_Cr.Cash

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby Dr.Degrees_Cr.Cash » Tue Apr 11, 2017 6:52 pm

thatblondegirl wrote:Does anybody here have a 401k? If so, what are y'all planning on doing with it while in lawl school?


I do. I'm not touching it. Might roll it from a traditional to a Roth but I need to do the research first

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Baby Gaga

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby Baby Gaga » Tue Apr 11, 2017 7:23 pm

Dr.Degrees_Cr.Cash wrote:
thatblondegirl wrote:Does anybody here have a 401k? If so, what are y'all planning on doing with it while in lawl school?


I do. I'm not touching it. Might roll it from a traditional to a Roth but I need to do the research first


I also have one and I need to do the research. I have no idea whether it's better to use it to reduce loans or to keep it where it is

Hennessy

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby Hennessy » Tue Apr 11, 2017 7:25 pm

So wait how tf do K-JD students afford moving costs / LSAT/LSAC costs?

Rigo

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby Rigo » Tue Apr 11, 2017 7:29 pm

HennessyVSOP wrote:So wait how tf do K-JD students afford moving costs / LSAT/LSAC costs?

Parents, I expect.

HonestlyThough

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby HonestlyThough » Tue Apr 11, 2017 7:31 pm

HennessyVSOP wrote:So wait how tf do K-JD students afford moving costs / LSAT/LSAC costs?


Personal loans? credit card? summer job?

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R. Jeeves

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby R. Jeeves » Tue Apr 11, 2017 7:32 pm

HennessyVSOP wrote:So wait how tf do K-JD students afford moving costs / LSAT/LSAC costs?


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jstans

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby jstans » Tue Apr 11, 2017 7:36 pm

HennessyVSOP wrote:So wait how tf do K-JD students afford moving costs / LSAT/LSAC costs?


Personally, money from summer internships/tutoring money/pure unadulterated hope.

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sorence

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby sorence » Tue Apr 11, 2017 7:55 pm

Rigo wrote:
HennessyVSOP wrote:So wait how tf do K-JD students afford moving costs / LSAT/LSAC costs?

Parents, I expect.


Took the LSAT right after college; had to save up quite a bit over the last few months of undergrad working as a barista to pay for my LSAT course, LSAT test, and application costs. Still had to reply heavily on my 4.5k cc limit on and off throughout this whole thing and I'm definitely not looking forward to moving costs.

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dasq5511

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby dasq5511 » Tue Apr 11, 2017 11:17 pm

Is it illogical for me to be willing to take on relatively more in loans because I'm only 20 and feel like I'll have more time to focus on paying it off before I have a family/home/more responsibilities? I've heard so many conflicting opinions on how much is reasonable to take out and how much it'll affect my quality of life, but I feel like I'd be okay with that as long as I'm able to pay them off by the time I'm like 28-30ish.

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby Hennessy » Tue Apr 11, 2017 11:32 pm

R. Jeeves wrote:
HennessyVSOP wrote:So wait how tf do K-JD students afford moving costs / LSAT/LSAC costs?



My parents don't have any damn money

(obviously i kno you're posting satirically, but lord if law school application costs aren't just another wage gap-reinforcing neoliberal capitalist structure)

I need like $3k-$4k to move and pay these application debts and it just now has hit me that's gonna be a private loan

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby TAD » Tue Apr 11, 2017 11:41 pm

HennessyVSOP wrote:So wait how tf do K-JD students afford moving costs / LSAT/LSAC costs?


I mean, there are probably some K-JD's that worked full time, or part time during university.

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azaleafire

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby azaleafire » Wed Apr 12, 2017 12:42 am

HennessyVSOP wrote:So wait how tf do K-JD students afford moving costs / LSAT/LSAC costs?


LSAT/LSAC I saved for. My bank account has... not been happy with me to say the least. Moving costs are going to be more interesting. I have only ever sublet apartments so I didn't realize I would need to pay an application fee, security fee, etc. I was only really barely prepared for first and last month's rent.

Keilz

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby Keilz » Wed Apr 12, 2017 12:43 am

Costs for visiting all of these schools is expensive as well. I'm out at least $600 dollars, and I was lucky to stay for free in Cali.

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Stylnator

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby Stylnator » Wed Apr 12, 2017 6:30 am

thatblondegirl wrote:Does anybody here have a 401k? If so, what are y'all planning on doing with it while in lawl school?


I have an agreement with my parents to put 6k in it every year while im in school. They can't significantly help me with law school so they are helping with this!

edit: rolling into a roth IRA
Last edited by Stylnator on Wed Apr 12, 2017 8:27 am, edited 1 time in total.

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ashrice13

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby ashrice13 » Wed Apr 12, 2017 6:32 am

dasq5511 wrote:Is it illogical for me to be willing to take on relatively more in loans because I'm only 20 and feel like I'll have more time to focus on paying it off before I have a family/home/more responsibilities? I've heard so many conflicting opinions on how much is reasonable to take out and how much it'll affect my quality of life, but I feel like I'd be okay with that as long as I'm able to pay them off by the time I'm like 28-30ish.

If you're going to be 23 when you leave LS, I wouldn't bank on being able to pay off your loans by 28-30. The standard loan length is 10 years and, with no guarantee of what your salary will be when you get out, there's no way to know for sure if you'll have the money to make larger payments (even without a family to pay for). It probably works if you land BL but that would be too much of a risk for me, personally.

Disclaimer: I have no idea how much debt you're talking about but I'm assuming that it's a lot. I also don't know the other justifications for taking out more debt but I assume their worth it for the sake of this post. I'm not saying taking the extra debt is necessarily a bad idea, I would just be weary of plans to pay it off in 5 years

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ashrice13

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby ashrice13 » Wed Apr 12, 2017 6:41 am

thatblondegirl wrote:Does anybody here have a 401k? If so, what are y'all planning on doing with it while in lawl school?

I have a 401k and a Roth IRA right now. The 401k I'll probably roll into my existing IRA...I am wierdly afraid that if I don't I'll forget about it or something. I'm dont think I'm touching any of it at least for the first 2 years. I MIGHT use it to help me during 3L because I can take money out fee free If it's for education expenses but not sure yet. I would need help with COL expenses and I'm pretty sure it only covers certain things like room and board/books/etc. I've yet to find info about how they prove that the money I took out when to pay for those things specifically so I have a feeling taking money out for COL might be really difficult.

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guynourmin

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby guynourmin » Wed Apr 12, 2017 6:48 am

azaleafire wrote:
HennessyVSOP wrote:So wait how tf do K-JD students afford moving costs / LSAT/LSAC costs?


LSAT/LSAC I saved for. My bank account has... not been happy with me to say the least. Moving costs are going to be more interesting. I have only ever sublet apartments so I didn't realize I would need to pay an application fee, security fee, etc. I was only really barely prepared for first and last month's rent.

Ime you very rarely have a security deposit and last months and a move in fee. Most places I see are like a $50 all fee, maybe a $30 credit check, and a $250-400 move in, no security deposit or last month. If you are prepared for first and last, you're probably good.

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twiix

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby twiix » Wed Apr 12, 2017 8:34 am

ashrice13 wrote:
thatblondegirl wrote:Does anybody here have a 401k? If so, what are y'all planning on doing with it while in lawl school?

I have a 401k and a Roth IRA right now. The 401k I'll probably roll into my existing IRA...I am wierdly afraid that if I don't I'll forget about it or something. I'm dont think I'm touching any of it at least for the first 2 years. I MIGHT use it to help me during 3L because I can take money out fee free If it's for education expenses but not sure yet. I would need help with COL expenses and I'm pretty sure it only covers certain things like room and board/books/etc. I've yet to find info about how they prove that the money I took out when to pay for those things specifically so I have a feeling taking money out for COL might be really difficult.


Lol never knew you could do this. I've been working for a few years so I probably skipped right over the ability to use it for education when I first started since I had no intentions of going back to school originally. Guess it depends how much I'll need to finance through loans as to whether or not it will be worth it (and what happens with interest rates).

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby Hennessy » Wed Apr 12, 2017 8:43 am

My dad knows the VP of student affairs at my waitlisted school...he e-mailed them asking if I was going to be taken off the waitlist...

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thatlawlkid

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby thatlawlkid » Wed Apr 12, 2017 9:19 am

HennessyVSOP wrote:My dad knows the VP of student affairs at my waitlisted school...he e-mailed them asking if I was going to be taken off the waitlist...

Does he want to send a few for me too?

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R. Jeeves

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby R. Jeeves » Wed Apr 12, 2017 9:33 am

Baby Gaga wrote:
Dr.Degrees_Cr.Cash wrote:
thatblondegirl wrote:Does anybody here have a 401k? If so, what are y'all planning on doing with it while in lawl school?


I do. I'm not touching it. Might roll it from a traditional to a Roth but I need to do the research first


I also have one and I need to do the research. I have no idea whether it's better to use it to reduce loans or to keep it where it is

Keilz

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby Keilz » Wed Apr 12, 2017 9:35 am

R. Jeeves wrote:
Baby Gaga wrote:
Dr.Degrees_Cr.Cash wrote:
thatblondegirl wrote:Does anybody here have a 401k? If so, what are y'all planning on doing with it while in lawl school?


I do. I'm not touching it. Might roll it from a traditional to a Roth but I need to do the research first


I also have one and I need to do the research. I have no idea whether it's better to use it to reduce loans or to keep it where it is


This is what I kept going back and forth on for three years. I ultimately decided to just put all my savings into a high interest savings account, and maybe a CD during school (to collect interest on my savings before interest accrues on loans), so I can just reduce loans first when I get my first good paying job.
Last edited by Keilz on Wed Apr 12, 2017 10:33 am, edited 2 times in total.

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Kopetz

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Re: Real Housewives of TLS - c/o 2020 Applicants

Postby Kopetz » Wed Apr 12, 2017 10:25 am

Kinda wish I'd been depositing into a 529 instead of my 401k these last few years, tbh



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