OLD SCHOOL (must be 30 and over ITT) Forum

[inchoate_con]

according to my wife, am basically 12 years old anyway.

Ditto.

I feel like I'm coming out of the closet... I'm a 1L in my late 30s with 3 daughters and a Sugar-mamma. I was highly concerned that I'd be the old guy - completely wrong.

[Smitten]

I'm a bit under the age bar here, but I would be over 30 when I finish law school - does that count? I do have a husband, house, and dog, so I can relate. I am really nervous about the prospect of selling the house right now. I thought we bought at the rock bottom of the housing slump, but I was so wrong.

[a_evans89]

How many of you are choosing between moving for a top school versus staying local and going to the best school in the area? So many things would make it easier to stay local - wife's job, house, family, daycare options, etc. - but the job search is pretty dicey right now for grads from the local T1 and T2 schools. Not that there are any guarantees from the top schools, but the odds are better. I'm not entirely convinced it's the right decision; I want to become a lawyer, but the opportunity costs are very high over the next three years.

I'm in kind of the same boat. When I retire from the Navy, my wife and I want to go back to the Dallas/Ft. Worth area, so that's where I'd be practicing. The GI Bill would give me a full ride at UT, but my undergraduate GPA from 1994 is hanging around my neck like an albatross, so I don't know if I can get in. SMU would be another option, but with the recent changes to the GI Bill, it would only pay for $17,500/year at SMU rather than covering the entire cost.

Then there's the opportunity cost of not working for three years and just pulling in my military pension (and my wife's paycheck), so honestly, if I can land a job right after retirement in the $85k/year range, I may forget about law school entirely.

+1. I already have a good job and my wife is an RN. With our combined income already at $130k I'm just not so sure this would be the right financial decision. The risk of taking one step forward to take 2 steps back is very real to me...

[homestyle28]

I am only a young 28, but I have a house and a husband, so I feel that I am somewhat in the same boat as you all. With the way admissions have panned out, it looks like we will be moving cross country. I feel guilty about making my husband leave a job he loves - especially because I got into a nearby school - and worried about how quickly he will find a new one, but he has been very supportive and feels it is the best move for me. We are going to rent out our place. We put down a large down payment that I do not want to lose, and there are a lot of renters in the area. I am not sure if it makes more sense to move all of our stuff cross country or try to sell it and get new stuff. I wish I could just do a swap with someone.

What the hell are you doing in here? So much changes between 28-30, esp. when you're already married I kid, I kid. My SO has a distinct attachment to our stuff, so we will be moving it and if we downsize, storing a lot of crap...who knew you could get attached to ikea?

[oldhippie]

i hate the idea of having to pay to store things, but i know we'll be downsizing significantly and my SO is also unusually attached to his "stuff." i'm hoping after the first year he'll realize we don't need it and we can have a big old garage sale!!

i'm glad this thread exists

[homestyle28]

Quick unofficial poll for current old law students w/kids. Did your school increase your cost of attendance (or scholly?) to include childcare?

[NonTradHealthLaw]

i hate the idea of having to pay to store things, but i know we'll be downsizing significantly and my SO is also unusually attached to his "stuff." i'm hoping after the first year he'll realize we don't need it and we can have a big old garage sale!!

i'm glad this thread exists

Getting rid of "stuff" is one of the oddest reasons I want to move - to force us to cull our hording tendencies. Two humans and four dogs in 3800 square feet shouldn't have as much stuff as we do, but crimeny. I expect A&E producers to be knocking on the door any day.

[DocHawkeye]

Longtime lurker, first time poster (to this thread anyhow). I'm glad I came across this thread. I am 33 was just married last June, I have an 11 year old step-son and the wife is expecting a baby in September. I have a Ph.D. in music (yes, you can get them) and have been teaching college part-time for the last four years. The thing that makes me the most nervous about school itself, is being "on the other side of the desk" again. Anyone with teaching experience having similar fears?

[oldhippie]

Longtime lurker, first time poster (to this thread anyhow). I'm glad I came across this thread. I am 33 was just married last June, I have an 11 year old step-son and the wife is expecting a baby in September. I have a Ph.D. in music (yes, you can get them) and have been teaching college part-time for the last four years. The thing that makes me the most nervous about school itself, is being "on the other side of the desk" again. Anyone with teaching experience having similar fears?

definitely - the only times i've been in a classroom for the past 10 years is as a teacher, trainer, or guest lecturer. it will be an interesting transition back to the other side...althoug i will say the experience of prepping for the lsat and seeing a nice increase in my score helped boost by confidence that i actually CAN still learn and retain material and concepts...

[nygrrrl]

Quick unofficial poll for current old law students w/kids. Did your school increase your cost of attendance (or scholly?) to include childcare?

Mine does not and I know several other people from last cycle who were looking into this - don't know of any schools that do.

[homestyle28]

Quick unofficial poll for current old law students w/kids. Did your school increase your cost of attendance (or scholly?) to include childcare?

Mine does not and I know several other people from last cycle who were looking into this - don't know of any schools that do.

Really? Every school I talked to last cycle said they did. I inferred from this that NU does as well, though it's from the med school. I assume that all their professional schools do.

So, how are people w/kids at your school paying for childcare? Private loans?

[nygrrrl]

Quick unofficial poll for current old law students w/kids. Did your school increase your cost of attendance (or scholly?) to include childcare?

Mine does not and I know several other people from last cycle who were looking into this - don't know of any schools that do.

Really? Every school I talked to last cycle said they did. I inferred from this that NU does as well, though it's from the med school. I assume that all their professional schools do.

So, how are people w/kids at your school paying for childcare? Private loans?

I'm incredibly surprised. These schools told you they would factor your child care costs into your COA for making scholly determinations? That's fantastic.

As for me and the other parents I know, at my school? We use family, friends, private loans, after school programs - whatever it takes.

[NickiGrace]

Good morning y'all. 32 here. I was a legal assistant in a former life, but have been a f/t student and stay-at-home mom for the last couple of years.

I'm facing the same issues as many of you...pay sticker at a better school, or take $ from a lower rank (assuming I can get my LSAT high enough to be offered $$). Also, there aren't any good schools in my immediate area (FL). UF is my best "local" bet, and it's an hour and a half away. My husband and I would love to get out of FL for a while (NC, TN, something like that sounds nice), but my parents would kill me for taking their grandbabies so far away (and I'd lose the best babysitter ever). Ugh...what to do, what to do!

[homestyle28]

Quick unofficial poll for current old law students w/kids. Did your school increase your cost of attendance (or scholly?) to include childcare?

Mine does not and I know several other people from last cycle who were looking into this - don't know of any schools that do.

Really? Every school I talked to last cycle said they did. I inferred from this that NU does as well, though it's from the med school. I assume that all their professional schools do.

So, how are people w/kids at your school paying for childcare? Private loans?

I'm incredibly surprised. These schools told you they would factor your child care costs into your COA for making scholly determinations? That's fantastic.

As for me and the other parents I know, at my school? We use family, friends, private loans, after school programs - whatever it takes.

Not for making scholarship decisions, but they all said you could increase your cost of attendance, which means you can borrow more using fed programs. You're certainly not the first person who has said schools aid there is no increase. The schools I explicitly asked this too were all in the same state, so maybe that's a factor. I guess I will find out when I get my aid award notice.

[nygrrrl]

Not for making scholarship decisions, but they all said you could increase your cost of attendance, which means you can borrow more using fed programs. You're certainly not the first person who has said schools aid there is no increase. The schools I explicitly asked this too were all in the same state, so maybe that's a factor. I guess I will find out when I get my aid award notice.

Ah - gotcha.
Do me a favor? Let me know as you find out - I'm thinking of putting together some kind of resource thread for parents and this would be great info.

[homestyle28]

Not for making scholarship decisions, but they all said you could increase your cost of attendance, which means you can borrow more using fed programs. You're certainly not the first person who has said schools aid there is no increase. The schools I explicitly asked this too were all in the same state, so maybe that's a factor. I guess I will find out when I get my aid award notice.

Ah - gotcha.
Do me a favor? Let me know as you find out - I'm thinking of putting together some kind of resource thread for parents and this would be great info.

Will do. Was poking around NU's finaid site and found potentially conflicting info:

16. Am I able to request additional loan assistance than what I accepted?
If students rejected a portion of their loan assistance at the beginning of the year and decide later that they need those funds, they can request that the Office of Financial aid reinstates their originally offered loan amounts. Students may be required to complete additional loan applications or documents depending on the loan type. If students accepted 100% of the aid they were offered in their financial aid award, they are generally not eligible to receive additional funding unless they can document extenuating circumstances (i.e. medical bills not covered by insurance). For more information on requesting additional funding for extenuating circumstances, please contact the Office of Financial Aid.

They say the calculate dependents in your EFC, so that leads me to think they don't extend more aid. However they also have a form for requesting more aid for dependent care. That form includes the following:

Students who have dependents other than a spouse (such as younger children or elderly dependent parents) for whom they have financial responsibility are
eligible to apply for supplemental loan assistance to help offset the costs for dependent care

I figure it will make more sense to ask in April at ASW, I'll definitely post what I hear.

[Leira7905]

i hate the idea of having to pay to store things, but i know we'll be downsizing significantly and my SO is also unusually attached to his "stuff." i'm hoping after the first year he'll realize we don't need it and we can have a big old garage sale!!

i'm glad this thread exists

Getting rid of "stuff" is one of the oddest reasons I want to move - to force us to cull our hording tendencies. Two humans and four dogs in 3800 square feet shouldn't have as much stuff as we do, but crimeny. I expect A&E producers to be knocking on the door any day.

I love that show... it makes me feel so organized!

[homestyle28]

i hate the idea of having to pay to store things, but i know we'll be downsizing significantly and my SO is also unusually attached to his "stuff." i'm hoping after the first year he'll realize we don't need it and we can have a big old garage sale!!

i'm glad this thread exists

Getting rid of "stuff" is one of the oddest reasons I want to move - to force us to cull our hording tendencies. Two humans and four dogs in 3800 square feet shouldn't have as much stuff as we do, but crimeny. I expect A&E producers to be knocking on the door any day.

I love that show... it makes me feel so organized!

I hope having more than 1 dead cat in your home is sufficient to fail C&F.

[stevededalus]

I'm a bit under the age bar here, but I would be over 30 when I finish law school - does that count? I do have a husband, house, and dog, so I can relate. I am really nervous about the prospect of selling the house right now. I thought we bought at the rock bottom of the housing slump, but I was so wrong.

Having a house is definitely a burden. We bought in 2004 - not at the peak and before the bottom - and our house would fetch $100K less than we paid for it. You'd have to do your own math as to whether renting it out is feasible (and worth the headaches of being a landlord), but I think the easier solution for any student is to sell before school if you can.

Forget about timing the market and the pain of losing part of your down payment - just consider yourself lucky if you're not underwater. I have so many mid-30s friends who bought in 2005-2007 and are way underwater right now. Like us, they bought starter homes with the notion they'd be able to move up once their family expanded, but they are now stuck for a long while. We put 20 percent down. Even though that and our 6+ years' worth of principal payments are now gone, we consider ourselves fortunate because we still have the ability to sell if we need to.

[Skyhook]

34 when I start school this year.

Currently a college lecturer, so it'll be interesting to be on the other side again.
At least I know what irritates professors, and what not to do!

How are people who are moving/have moved away from their home dealing with the mortgage issue?
Looking up the current rental market is a bit tough - it shows what hasn't rented, not what has!
I'm hoping a family will want to rent, but it may turn out we have to get a group of students in..

[homestyle28]

34 when I start school this year.

Currently a college lecturer, so it'll be interesting to be on the other side again.
At least I know what irritates professors, and what not to do!

How are people who are moving/have moved away from their home dealing with the mortgage issue?
Looking up the current rental market is a bit tough - it shows what hasn't rented, not what has!
I'm hoping a family will want to rent, but it may turn out we have to get a group of students in...

I live in a small college town where we could definitely rent it out, but most likely to a group of undergrads. While we likely could profit it's hard to see that being worth the headache/heartache of seeing our improvements get abused! We will definitely sell, we're lucky that we have enough equity that we can price it to move and still walk away with a modest down payment if we buy for LS.

[stevededalus]

How are people who are moving/have moved away from their home dealing with the mortgage issue? Looking up the current rental market is a bit tough - it shows what hasn't rented, not what has! I'm hoping a family will want to rent, but it may turn out we have to get a group of students in..

I've talked to neighbors, followed rental listings and looked at Craig's List to try to get an idea of what rental rates are in our neighborhood. I'd also suggest going to a rental agency and finding out what they think rates are and what they would charge to handle landlord duties (usually around 10 percent).

Rental rates aren't high enough in our area to pay for all ownership costs after deductions, so we're thinking of selling if we move. It might make sense for us to keep the home is if we thought home prices would rise enough to outpace our costs in the next few years, but I'm not very confident of that.

[Skyhook]

34 when I start school this year.

Currently a college lecturer, so it'll be interesting to be on the other side again.
At least I know what irritates professors, and what not to do!

How are people who are moving/have moved away from their home dealing with the mortgage issue?
Looking up the current rental market is a bit tough - it shows what hasn't rented, not what has!
I'm hoping a family will want to rent, but it may turn out we have to get a group of students in...

I live in a small college town where we could definitely rent it out, but most likely to a group of undergrads. While we likely could profit it's hard to see that being worth the headache/heartache of seeing our improvements get abused! We will definitely sell, we're lucky that we have enough equity that we can price it to move and still walk away with a modest down payment if we buy for LS.

I suppose it would work out whilst prices are still low, just depends on the market you are moving to.
We cannot sell, not for at least 2 years most likely, assuming we reach the bottom soon.
Millstone

[Capitol A]

i just hate the idea of dealing with tenants and the possibility of broken leases, etc from across the country. but reality dictates that we may well have to rent....so be it...something always works out!!

and i'm all about NOT giving unsolicited advice!

Hey- love this thread...I barely make the age requirement, but it's nice to see some people with similar issues to mine...I am moving my wife and dogs across the country for school and we will be renting out our current home. I have actually rented a property in the past, so I guess I will give some unsolicited advice: hire a property management company. The cost is pretty minimal, and they do ALL the work. If anyone wants more info on this, or if you're in AZ and want the name of my property manager, PM me and I can give you the details.
The nice thing about my personal situation is that we are moving to a much cheaper place to live, so rent I collect here should be more than rent I have pay in VA.

[Skyhook]

How are people who are moving/have moved away from their home dealing with the mortgage issue? Looking up the current rental market is a bit tough - it shows what hasn't rented, not what has! I'm hoping a family will want to rent, but it may turn out we have to get a group of students in..

I've talked to neighbors, followed rental listings and looked at Craig's List to try to get an idea of what rental rates are in our neighborhood. I'd also suggest going to a rental agency and finding out what they think rates are and what they would charge to handle landlord duties (usually around 10 percent).

Rental rates aren't high enough in our area to pay for all ownership costs after deductions, so we're thinking of selling if we move. It might make sense for us to keep the home is if we thought home prices would rise enough to outpace our costs in the next few years, but I'm not very confident of that.

Thanks, wondered about tracking ads on craigslist, but the applications have dominated my time!
10%? I could live with that, not looking for a profit just want to cover the mortgage and any extra costs (lawn maintenance!).