assets/retirement accounts LRAP Forum

[slsorhls]

So it looks like some LRAPs will consider retirement accoutns as assets and thus lower their assistance to you. This would be relevant if one were to work in BigLaw for a couple years and then go into an LRAP-eligible position. How much do people usually put into retirement accounts while paying back loans?

I'm wondering if that savings would potentially get swallowed up.

[BlueDiamond]

if you work in biglaw a couple years theres no need for LRAP.. also do they even let you do that?

[slsorhls]

Why is there no need? You'd only pay off 2 years of your loans. With 10 year loans, of course there's a need?

[mattviphky]

Why is there no need? You'd only pay off 2 years of your loans. With 10 year loans, of course there's a need?

I think what they mean is that most people opt to put a great deal of their income into loan repayment, because not many people are in biglaw for 10 years.

[slsorhls]

He said a couple of years. That's clearly nowhere near enough, so this question becomes relevant.