Loyola Law School (L.A.) - Class of 2011 Forum

[gm907]

So anyone locked in a place to live yet? What are you paying for rent?

[snowboarder2713]

I came home from college today and found the latest recent mass mailing from LLS with the post it notes inside. Yea, so sweet.

Are you being sarcastic dood?

http://www.amazon.com/3M-2051-FLT-Post- ... s_op_img_5

Sorry, I'm just getting excited about the school I'm going to for the next 3 years. Others here have liked it as well.

[PugPug]

ugh. Place to live. I told myself I'd worry about that and car shopping (I'm a *poor* 23 year old whose never owned a car) starting in June...

[bendl]

Good day Loyola folks: Just wanted to share. I ran into a famous alumnus of your school (Mark Geragos) at a bar in Burbank last night. He was extremely friendly, accompanied by a gorgeous blond twenty-something, and had nothing but good things to say about Loyola.

[snowboarder2713]

^^^Very sweet.

Yea Pugpug, I'm avoiding getting a car at all costs. That's why I'm looking to live in the NoHo area cause it's on the red line (same as LLS). But yes, serious inquiries will start for me next month as well once the housing/roommate system for Loyola is up and running.

[bowandarrow20]

Yeah I'm trying to avoid a car too, and am thinking about finding housing within walking distance and braving the sketchiness.

[PugPug]

I'm the most paranoid person in the world so I don't think downtown or the redline would work very well with my natural freaked outness.
I rode the Big Blue Bus for 2 years straight but that's a tiny bit different hahaha

[PeanutButterJellyTIME]

I'm looking into the Pasadena area, nice place and you can take the metro to and from school. I think its 62 dollars for an unlimited month pass otherwise its around 5 bucks a day cause you need to take 2 different lines.

GO LAKERS!!!!!!!

[snowboarder2713]

I think its 62 dollars for an unlimited month pass otherwise its around 5 bucks a day cause you need to take 2 different lines.

Also, don't forget about the student discount we get. I think it's something like half off metro costs. LA is a little more advanced in that area than DC is.

[hope]

When do we have to send in the financial aid form to Loyola? I still haven't done so. Can anyone tell me anything you've heard about the ALL Student Loan lender? I am thinking of using them for the Federal Stafford Loan.

[PugPug]

I called and asked them about the financial aid form in mid April and they said not to hurry it but that they'd preferably like it before June.
Also, I've heard ALL Student loans is very good. That's actually who I'm going with. I called them and asked some questions and they seemed very helpful. They also seem to be about the best "deal".
Hope this helps you!

[hope]

Thanks a lot Pug
I've been on the phone in the meantime, and just heard from one of the lenders that the interest rate for the Subsidized Federal Stafford loans will be lowered to 6.0% for all loans disbursed after July 1,2008. I didn't realize that before

[PeanutButterJellyTIME]

Do you remember what the rate was before? or I suppose what it is right now? But any little bit helps when you're going over 50-100k in debt.

pbjTIME

[gm907]

You guys know to get only federally subsidized loans (Stafford and Grad Plus) right?

There is new law which says that the maximum payment on such loans will be 15% of (your income minus the poverty line.)

So if you make like $65,000 after you graduate, and the poverty line is ?$25,000, then your maximum payment will be only 15% of (65000 - 25000) or $500/month. This is true whether you borrowed $100,000 or $200,000.

$500 a month is very manageable on a $65,000 salary. If you only make $45,000 the payment will be only $250 a month.

The days of $1,500 loan payments on limited income are gone. Ted Kennedy passed this law last fall to help low income people cope with student loan debt.

Be careful though, because if you take out private loans you lose the benefit of this law.

[PeanutButterJellyTIME]

What do you mean by the maximum is 500 that you can pay???? Thats the maximum they can force you to pay while only paying interest??? or Thats actually the max you can pay?? Because if you stuck with 500 a month payments on something like 100k debt that debt would increase like crazy and you would never get near paying off the principle. Is their some sort of debt forgiveness involved in this or do they just never expect you to pay off your loans?

[gm907]

What do you mean by the maximum is 500 that you can pay???? Thats the maximum they can force you to pay while only paying interest??? or Thats actually the max you can pay?? Because if you stuck with 500 a month payments on something like 100k debt that debt would increase like crazy and you would never get near paying off the principle. Is their some sort of debt forgiveness involved in this or do they just never expect you to pay off your loans?

It's the maximum they can make you pay. It might be less than the interest.

Sure the rest gets recapitalized, but it beats paying $1,500 a month on loans when you only make $50,000.

Also, the loan is completely wiped out after 25 years (10 years if you work for government or PI.)

[PeanutButterJellyTIME]

Thats a pretty cool deal Gm907. Do you have any links to the info so I can make sure to follow the rules. Also I wonder what happens if you decide to stop working, is the debt immediately taken off because 0-25000 makes -25k. In essence giving a negative balance which means they might pay you. lol..... Prolly some sort of minimum but good deal nonetheless.

[gm907]

Thats a pretty cool deal Gm907. Do you have any links to the info so I can make sure to follow the rules. Also I wonder what happens if you decide to stop working, is the debt immediately taken off because 0-25000 makes -25k. In essence giving a negative balance which means they might pay you. lol..... Prolly some sort of minimum but good deal nonetheless.

I think if you don't have any income, your payment would be zero per the rule. Of course, this isn't really an option as everyone has to have some income - even the wealthy have interest income. I'm pretty sure though, that if you're married and file a separate tax return, your spouse's income won't count as your income for this test. So that might be a way to make the government pay your entire bill (marry, have spouse support you for 25 years, have loan wiped out.)

Here's a link for more info. --LinkRemoved--

Federally guaranteed loans like Grad Plus and Stafford definitely qualify, but private loans do not. The FA office can probably help you, if you want to make sure you do it right.

[DodgerDan]

Hello Loyola Law Schoolites,
I have a question as to when Loyola starts in August? I am on the wait-list and Loyola remains my top choice. I have e-mailed them to see when school starts but have not received a response yet so any help would be great since I am in the midst of getting together my summer plans. Thank you and hopefully I will soon be able to join in on the fun of this thread.

[PeanutButterJellyTIME]

Hello Loyola Law Schoolites,
I have a question as to when Loyola starts in August?

Orientation is August 11th and it is mandatory to attend so you could call that the first day of school. Class prolly starts the next week. Good luck with the wait list.

[Herbellis]

I got in! I don't have to leave Westwood and that makes me very happy. Anyone else in the evening program?

[Gonzo]

hey guys, I'm in too! Can't wait. Does anyone know how long the commute is from Santa Monica - normal and during rush hour? The welcome packet says only 30 minutes. I don't buy that.

[mes789]

hey guys, I'm in too! Can't wait. Does anyone know how long the commute is from Santa Monica - normal and during rush hour? The welcome packet says only 30 minutes. I don't buy that.

30 mins with no traffic. I'd say with traffic you are looking at an hour and maybe up to 1.5 hours if traffic is bad.

[thisguy123]

Depends on where you live in Santa Monica.

i just finished 1L, living in Brentwood (off 405 Wilshire exit), and without traffic (aka like 7:30am or 8pm) i get to school in 16 minutes. Between 7:45-9am it probably takes me 40 minutes to get to school, and 5-6:30 it takes me about 30 minutes to get home (you're driving against traffic so its not bad).

Life's a lot less streesful on the west side. Once I drive home from school I rarely ever need to drive. Lots of 1Ls that lived mid-wilshire or downtown are moving my way this year.

[snowboarder2713]

Congrats Herbellis and Gonzo! I'll add you to the list. Are you in the evening program as well Gonzo?