Take the money and Run; YS - CCNH? Forum

[09042014]

I bet not even The Seal-ocaust is paying down 7k/month.

Muskie you realize I'm using like 85% of my after tax paycheck to pay down loans right? That's absurdly high.

[abl]

It sucks, Main. I would struggle to get a car loan if I applied for one. People don't realize how much it impacts every area of your life.

How much debt are you under and are you current on your debt? I have a ton of debt and haven't had any problem being approved for credit. I've recently been approved for a 50% credit line increase on my credit card and a pretty substantial mortgage. Talking with the guy who processed my mortgage, he said my law school loans caused me to qualify for somewhere around 10% less than I would have otherwise (and at the time I was making slightly less than half of a biglaw salary, so it wasn't like my salary came close to overwhelming my debt). Don't get me wrong: not having to make debt repayments would make me happy. But my debt payments haven't had any sort of a deep impact on my life. On the other hand, I've been expressly told on a number of the steps along my career that the school I attended was a significant factor in me receiving an interview or an offer.*

*I obviously can't say whether my experience would have been similar if I had gone to a school 5-10 spots lower in the rankings. Maybe I'd be hearing a "the fact that you went to a T14 is very significant" chorus instead of what I hear. But I doubt it: most of the jobs/positions I've gotten are selective enough to distinguish between, say, a Duke and a Harvard.

[Holly Golightly]

I bet not even The Seal-ocaust is paying down 7k/month.

Muskie you realize I'm using like 85% of my after tax paycheck to pay down loans right? That's absurdly high.

Your $10/bottle wine will be your demise.

[NYSprague]

isn't there a thread somewhere on here that has people's actual loan payments/financial situation? I remember seeing it before but don't remember the title.

These "list of anecdotes" threads are not helpful to anyone. I dunno why they give TLSers sperg-boners.

I like them only because people assume they will make more and spend less to live than they actually do. Real numbers give some context, though usually someone just says live in Jersey or ride your bike, or similar helpful tips.

Some people might listen to real numbers, but overall it seems fucking hopeless.

$84,000 a year on debt must be the most that anyone is paying.

[muskies970]

I bet not even The Seal-ocaust is paying down 7k/month.

Muskie you realize I'm using like 85% of my after tax paycheck to pay down loans right? That's absurdly high.

So you have around 30000 a year in disposable income after taxes and paying loans?

Thats the average american right?

[NYSprague]

I bet not even The Seal-ocaust is paying down 7k/month.

Muskie you realize I'm using like 85% of my after tax paycheck to pay down loans right? That's absurdly high.

So you have around 30000 a year in disposable income after taxes and paying loans?

Thats the average american right?

What is the point you are trying to make here?

[bjsesq]

It sucks, Main. I would struggle to get a car loan if I applied for one. People don't realize how much it impacts every area of your life.

How much debt are you under and are you current on your debt? I have a ton of debt and haven't had any problem being approved for credit. I've recently been approved for a 50% credit line increase on my credit card and a pretty substantial mortgage. Talking with the guy who processed my mortgage, he said my law school loans caused me to qualify for somewhere around 10% less than I would have otherwise (and at the time I was making slightly less than half of a biglaw salary, so it wasn't like my salary came close to overwhelming my debt). Don't get me wrong: not having to make debt repayments would make me happy. But my debt payments haven't had any sort of a deep impact on my life. On the other hand, I've been expressly told on a number of the steps along my career that the school I attended was a significant factor in me receiving an interview or an offer.*

*I obviously can't say whether my experience would have been similar if I had gone to a school 5-10 spots lower in the rankings. Maybe I'd be hearing a "the fact that you went to a T14 is very significant" chorus instead of what I hear. But I doubt it: most of the jobs/positions I've gotten are selective enough to distinguish between, say, a Duke and a Harvard.

215k, economic hardship deferral because working at a non-profit, so "current" is a yes.

[jmhendri]

isn't there a thread somewhere on here that has people's actual loan payments/financial situation? I remember seeing it before but don't remember the title.

These "list of anecdotes" threads are not helpful to anyone. I dunno why they give TLSers sperg-boners.

I like them only because people assume they will make more and spend less to live than they actually do. Real numbers give some context, though usually someone just says live in Jersey or ride your bike, or similar helpful tips.

Some people might listen to real numbers, but overall it seems fucking hopeless.

$84,000 a year on debt must be the most that anyone is paying.

He's paying more than I actually make at a small-ish firm.

[Holly Golightly]

I bet not even The Seal-ocaust is paying down 7k/month.

Muskie you realize I'm using like 85% of my after tax paycheck to pay down loans right? That's absurdly high.

So you have around 30000 a year in disposable income after taxes and paying loans?

Thats the average american right?

What magical place do you intend to live where you will have no income tax taken out and pay nothing for rent and food?

[emu42]

If making money is your only reason/ consideration in choosing a law school. yes.

If it's not you will sorely disappointed. The money is the only good part.

Says who? You? Why do you think the majority of Yale's class goes into PI/academia? What an absolutely moronic thread.

[worldtraveler]

I bet not even The Seal-ocaust is paying down 7k/month.

Muskie you realize I'm using like 85% of my after tax paycheck to pay down loans right? That's absurdly high.

So you have around 30000 a year in disposable income after taxes and paying loans?

Thats the average american right?

And the average American doesn't work 80 hours a week and has time to cook some of their own food or clip some coupons. Also doesn't need to buy fancy professional clothes.

[09042014]

I bet not even The Seal-ocaust is paying down 7k/month.

Muskie you realize I'm using like 85% of my after tax paycheck to pay down loans right? That's absurdly high.

So you have around 30000 a year in disposable income after taxes and paying loans?

Thats the average american right?

~20k. In DC. If I wasn't heavily leaning on my wife, this would be impossible. Without her, even if I stopped eating lunch at food trucks and stopped the cockwine, I doubt I would be I'd be able to make 5k a month payments. Probably 4k.

Just lol @ the rude awakening you will have when your student debt bill comes in 3 years.

[NYSprague]

I was confused about this thread until I realized that it upset the Harvard apologists.

[muskies970]

I bet not even The Seal-ocaust is paying down 7k/month.

Muskie you realize I'm using like 85% of my after tax paycheck to pay down loans right? That's absurdly high.

So you have around 30000 a year in disposable income after taxes and paying loans?

Thats the average american right?

And the average American doesn't work 80 hours a week and has time to cook some of their own food or clip some coupons. Also doesn't need to buy fancy professional clothes.

LOL what average american are you referring to?

[EquallyWrong]

jfc let DF have his one nice thing

As long as he prefaces his posts to 0L's where he tries to come across as a knowledgeable unbiased expert with, "I drink to cope with my problems", sure.

wow, genuinely surprised and disappointed to see this viewpoint being expressed.

[Holly Golightly]

I bet not even The Seal-ocaust is paying down 7k/month.

Muskie you realize I'm using like 85% of my after tax paycheck to pay down loans right? That's absurdly high.

So you have around 30000 a year in disposable income after taxes and paying loans?

Thats the average american right?

And the average American doesn't work 80 hours a week and has time to cook some of their own food or clip some coupons. Also doesn't need to buy fancy professional clothes.

LOL what average american are you referring to?

What average American are YOU referring to???

[muskies970]

I bet not even The Seal-ocaust is paying down 7k/month.

Muskie you realize I'm using like 85% of my after tax paycheck to pay down loans right? That's absurdly high.

So you have around 30000 a year in disposable income after taxes and paying loans?

Thats the average american right?

~20k. In DC. If I wasn't heavily leaning on my wife, this would be impossible. Without her, even if I stopped eating lunch at food trucks and stopped the cockwine, I doubt I would be I'd be able to make 5k a month payments. Probably 4k.

Just lol @ the rude awakening you will have when your student debt bill comes in 3 years.

Meh I took out nowhere near sticker, thanks in part to TLS advice.
I just think it's absurd to say sticker is de facto wrong for every situation.

And once you pay that debt off after living poor for a few years you'll be in a great spot with your experience to live more than comfortably.

[Hipster but Athletic]

I think I'm gonna ask my parents to take care of my loans. It'll make me less of a man, but it'll make me more rich

[muskies970]

What average American are YOU referring to???

Doctors, engineers, small business owners, start ups, even a lot of government employees I know all work 70+ hours a week.

[bjsesq]

I think I'm gonna ask my parents to take care of my loans. It'll make me less of a man, but it'll make me more rich

I would if I could.

[Holly Golightly]

What average American are YOU referring to???

Doctors, engineers, small business owners, start ups, even a lot of government employees I know all work 70+ hours a week.

[A. Nony Mouse]

What average American are YOU referring to???

Doctors, engineers, small business owners, start ups, even a lot of government employees I know all work 70+ hours a week.

That doesn't make them average.

[NYSprague]

What average American are YOU referring to???

Doctors, engineers, small business owners, start ups, even a lot of government employees I know all work 70+ hours a week.

Muskie: So where are you working? Biglaw in NYC or DC? I can't tell.
How much are you paying on your loans?

[Holly Golightly]

What average American are YOU referring to???

Doctors, engineers, small business owners, start ups, even a lot of government employees I know all work 70+ hours a week.

That doesn't make them average.

I would love to know which of these people are making $30k/year or less. Also, seriously not buying it for government employees, sorry brah.

[jmhendri]

What average American are YOU referring to???

Doctors, engineers, small business owners, start ups, even a lot of government employees I know all work 70+ hours a week.

YEAH HG, DIDN'T YOU KNOW? IT'S THE NEW NORMAL. OBAMA'S AMERICA BABY!