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Should I pay off all of my undergraduate debt? I'm looking at 33k that I owe. My other option is to continuing paying my student loan, but just bank my savings and have a nice cushion when I graduate law school.

I would like to imagine in one scenario that I get a full ride to LS, so then what would you do: payoff or savings?

I would also like to think that what if I didn't get a full ride, but had to take out some loans (large or small). So, would you payoff or keep your cushion savings?

They both sound good at times depending on how I feel. I'm leaning on erasing my undergraduate debt and basically having to start all over savings wise, but at least be free of the crushing power of student loan debt.

However, if I do have a lot of debt from LS (top school only CLS; won't put myself seriously in debt for anything less) and I don't get that much aid or skolly what is just another 30k debt? I'm already probably going to have 100k in the hole anyway,

What's the interest rate of your debt? What's your payoff schedule?

abl wrote:What's the interest rate of your debt? What's your payoff schedule?

High. I don't know the actual percentage. However, I know it's about $5 per day. Payoff in 10 years. I actually want to pay it off. Even if I do get the big law job, anything can happen. I can lose it. God forbid. So pay off much as possible.

lillawyer2 wrote:

abl wrote:What's the interest rate of your debt? What's your payoff schedule?

High. I don't know the actual percentage. However, I know it's about $5 per day. Payoff in 10 years. I actually want to pay it off. Even if I do get the big law job, anything can happen. I can lose it. God forbid. So pay off much as possible.

You should probably know what interest rate you're currently paying on the debt that you have before making financial decisions that involve taking on (or not taking on) more debt.

abl wrote:

lillawyer2 wrote:

abl wrote:What's the interest rate of your debt? What's your payoff schedule?

High. I don't know the actual percentage. However, I know it's about $5 per day. Payoff in 10 years. I actually want to pay it off. Even if I do get the big law job, anything can happen. I can lose it. God forbid. So pay off much as possible.

You should probably know what interest rate you're currently paying on the debt that you have before making financial decisions that involve taking on (or not taking on) more debt.

It's btwn 3-6% I have various loans combined into 1 and some are at 3% and others 6%

lillawyer2 wrote:

abl wrote:

lillawyer2 wrote:

abl wrote:What's the interest rate of your debt? What's your payoff schedule?

High. I don't know the actual percentage. However, I know it's about $5 per day. Payoff in 10 years. I actually want to pay it off. Even if I do get the big law job, anything can happen. I can lose it. God forbid. So pay off much as possible.

You should probably know what interest rate you're currently paying on the debt that you have before making financial decisions that involve taking on (or not taking on) more debt.

It's btwn 3-6% I have various loans combined into 1 and some are at 3% and others 6%

Assuming they're fixed rate, I'd pay only the minimum on the 3% (and close-to-3%) loans. Whether you want to do the same for the ~6% loans depends on your personal preferences re leverage, risk tolerance, and liquidity. You can find plenty of threads on this forum about the value of paying off ~6% debt quickly versus saving, and the advice you'll find will apply to your circumstances similarly as it would if you were a law school grad.