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It's possible that I may have to take out $60,000 a year in loans for 3 years because I'm applying Early Decision and I may not get any scholarship money.

Is it smart to take out this much money in loans to go to a T10 law school?

I don't want to be in so much debt that I couldn't repay $180,000, especially because I plan on taking a government job or low paying job.

Check out the LRAP at your school of choice. A lot of your loans could be forgiven if you take a low paying gov't or public interest job.

Outside the T10, I would say no to the loans, in T10, go for it, you'll find a way to pay it back... that is if you want to be a lawyer

You gotta do what you gotta do, at least for your income based you won't have to pay back anymore after 25 yrs. If you are going PI it's only 10, as far as I understand. I'm sure someone on this board knows more specifics.

shane0515 wrote:It's possible that I may have to take out $60,000 a year in loans for 3 years because I'm applying Early Decision and I may not get any scholarship money.

Is it smart to take out this much money in loans to go to a T10 law school?

I don't want to be in so much debt that I couldn't repay $180,000, especially because I plan on taking a government job or low paying job.

I'm doing it, or close to it. $150K for 3 years here. IBR is your friend, look it up.

vanwinkle wrote:

shane0515 wrote:It's possible that I may have to take out $60,000 a year in loans for 3 years because I'm applying Early Decision and I may not get any scholarship money.

Is it smart to take out this much money in loans to go to a T10 law school?

I don't want to be in so much debt that I couldn't repay $180,000, especially because I plan on taking a government job or low paying job.

I'm doing it, or close to it. $150K for 3 years here. IBR is your friend, look it up.

If you're planning to do IBR, why not take out the full COA loans of $210k?

im_blue wrote:

vanwinkle wrote:

shane0515 wrote:It's possible that I may have to take out $60,000 a year in loans for 3 years because I'm applying Early Decision and I may not get any scholarship money.

Is it smart to take out this much money in loans to go to a T10 law school?

I don't want to be in so much debt that I couldn't repay $180,000, especially because I plan on taking a government job or low paying job.

I'm doing it, or close to it. $150K for 3 years here. IBR is your friend, look it up.

If you're planning to do IBR, why not take out the full COA loans of $210k?

In case the devil convinces you that big law is the place for you once you see your grades and you actually have to pay it back?

im_blue wrote:

vanwinkle wrote:

shane0515 wrote:It's possible that I may have to take out $60,000 a year in loans for 3 years because I'm applying Early Decision and I may not get any scholarship money.

Is it smart to take out this much money in loans to go to a T10 law school?

I don't want to be in so much debt that I couldn't repay $180,000, especially because I plan on taking a government job or low paying job.

I'm doing it, or close to it. $150K for 3 years here. IBR is your friend, look it up.

If you're planning to do IBR, why not take out the full COA loans of $210k?

In my case, because borrowing $150K is the most I can borrow and will cover what I owe in tuition + what I need in COL. You can't borrow more than you need.