Taking Out Max Loans to Live in One Bedroom Forum

[akili]

I think for your 1L year, especially with those scholarship stips, I would do whatever it took to help me get the best grades. If living close to the law school will save you stress and time, then I would do it. I would probably re-evaluate at the end of 1L and see if moving somewhere cheaper is realistic. (or getting a roommate)

[well-hello-there]

I would suggest buying a van for 800, parking it somewhere (perhaps by the river), and living in that. You should not be looking to take out extra money given the probability you will have of being able to make the loan payments and live comfortably after you graduate. If you land a nice in the Fall of 2012, then think about upgrading.

http://www.hulu.com/watch/4183/saturday ... -the-river

Follow this guy's lead

http://www.salon.com/life/pinched/2009/ ... g_in_a_van

down by the river "Free running water" really is your best option if you choose the "van" lifestyle.

[Upton Sinclair]

I think we have a misunderstanding here and it's mostly my fault for not really laying out the housing market up in Cleveland. I'm not talking about living in 1500 square foot penthouse or anything, just a nice, modern one bedroom apartment.

I have a friend who goes to undergrad there and he said a good price for a one bedroom downtown is around $750. I looked online for days and he was pretty much right. The cheapest I've seen is $620 and those didn't seem too nice.

However, there are apartments literally right across the street from the law school that are $875 here's the website in case you're interested into seeing how "nice" I'm talking about here: http://www.thecoralcompany.com/resident ... uclid.html). So I'm not paying more for a super luxurious place, I'm just paying an extra $125 for an awesome location. There isn't a chance in hell I'm paying $1600 just for rent.

As for going to Cleveland State, say what you want, but it's where you go if you want to practice in Cleveland, period.

Your friend is pretty much on point when it comes to the price of a one-bedroom downtown, but be weary of these "nice" apartments. There are some expensive ass places that look amazing in pics (Bridgeview and The Bingham come to mind), but they are actually in old buildings, not as nice as they seem and really aren't worth the money.

As far as living in a nice place, that's a personal decision I believe. If you want it to impress chicks or something, then it's a bad idea in my opinion. But I also think you should do whatever you think will help you during 1L year. I am personally obsessed with atmosphere (needing the same area of the library to be productive, needing to sit in a certain spot in my living room to get things done, etc.), so I will probably be paying more to live in a nicer place during 1L, and then dialing it back for 2L and 3L.

FWIW, you just need to be ready to hustle from day 1 at CSU. I know a few people there now, and getting a job is an absolute bitch for them.

[krad]

I think for your 1L year, especially with those scholarship stips, I would do whatever it took to help me get the best grades. If living close to the law school will save you stress and time, then I would do it. I would probably re-evaluate at the end of 1L and see if moving somewhere cheaper is realistic. (or getting a roommate)

I would agree with this too. Again, it's really a personal choice with regards to how much you choose to minimize your COL debt.

[HWS08]

My opinion is that you should proceed with caution. You'll be paying interest on those loans, so if you take out an extra $8,000 of the course of three years to live in a more expensive apartment (just a hypothetical number) you could end up spending up to roughly $11,000 by the time you repay the loans. Is the nicer apartment worth that much extra to you?

You should also factor in other costs. If living in the nice building across from campus means you can get rid of your car or at least rarely drive you stand to save some money there. If having a nice place means you'll invite friends over on the weekends instead of having to go out to a bar and pay for drinks you might save money that way too ($15 for a 12 pack vs. $4-5 per drink at a bar, assuming your friends BYOB too). Not wasting time on commuting might also mean you have more time to cook from scratch instead of buying prepared foods or paying for lunch on campus, which will save money.

Personally, I am willing to sacrifice having a nice place for paying less rent and therefore taking out a smaller loan, but I am kind of frugal like that.

BTW I am jealous of your rent prices. I pay more money than that for a shitty studio apt in DC and will probably be doing the same thing when I move to Boston.

[Aberzombie1892]

Yes. A nice apartment is a luxury. I'm currently paying twice as much (or more) as the average Tulane law student in rent ($1,055). But I'm not paying the rent through loans, and so I'm not an idiot.

if you are paying for anything through loans then you are de facto paying for your apartment through loans because that's $500 that could have been used to pay for whatever your loans are going to.

Maybe maybe not. There is a 50% chance I will have any debt period at graduation.

[mpj_3050]

Just get a two bedroom and find a decent roommate.

Plus, these are 9-month cost of living estimates, correct?

[buckilaw]

As for going to Cleveland State, say what you want, but it's where you go if you want to practice in Cleveland, period.

For practicing in Cleveland it's actually more along the lines of, T14>OSU>Vandy and Texas>Case=CSU>Cincy=Capital>all other TTT's in Ohio