PSA: Borrowing is GOOD Forum

[Gifted Hands]

I'm so tired of hearing about the debt whining on this site. really people? Do y'all not understand the concept of risk/reward? I mean I know y'all are all pretty risk averse considering you're lawyers, but damnit, stop being so meek. Be bold, take a loan and go to either a T14 or a school in the region you want to work. And pay whatever it takes to make it happen.

Also, you people never factor in individual's desire to be lawyers into the "should I go or should I not go" equation. Honestly, if you want to be a lawyer. borrow as much as possible and even go to a shitty school if you have to. What would your better options be really?

It's not all economics. It's not like 'oh Georgetown only puts 40% in BL, have fun working at starbucks with 200k in debt". No idiot, even if he does work at starbucks, he'll be on PAYE. And he may never have to pay that 200k back.

Your welcome for the new philosophy TLS. I'm an old regular here. Take my advice.

TL;DR PAYE is awesome and you're foolish if you don't take advantage

[Mad Hatter]

0L Post.

[Gifted Hands]

0L Post.

nope rising 2L

[seagan823]

Why are you giving people objectively bad advice?

[Gifted Hands]

Why are you giving people objectively bad advice?

Because everyone always talks about debt and the interest, etc., but they don't mention the part that they are not going to seize your assets if you don't pay or force you to pay 1k + a month. You pay 10% of your discretionary income, and if you work at starbucks for 20 years and paid sticker, well you just profited 100k thanks to taxpayers.

Ever since PAYE came into the pic, the advice should have changed accordingly

[abitaman6363]

Can we time-stamp a reminder for OP to edit remarks in three years?

[Gifted Hands]

Can we time-stamp a reminder for OP to edit remarks in three years?

I don't have debt. But i wish i had gone to the best school at sticker. I regret going to a strong regional over sticker at T14 partly bc of the poor advice on this site.

[mvp99]

I'm so tired of hearing about the debt whining on this site. really people? Do y'all not understand the concept of risk/reward? I mean I know y'all are all pretty risk averse considering you're lawyers, but damnit, stop being so meek. Be bold, take a loan and go to either a T14 or a school in the region you want to work. And pay whatever it takes to make it happen.

Also, you people never factor in individual's desire to be lawyers into the "should I go or should I not go" equation. Honestly, if you want to be a lawyer. borrow as much as possible and even go to a shitty school if you have to. What would your better options be really?

It's not all economics. It's not like 'oh Georgetown only puts 40% in BL, have fun working at starbucks with 200k in debt". No idiot, even if he does work at starbucks, he'll be on PAYE. And he may never have to pay that 200k back.

Your welcome for the new philosophy TLS. I'm an old regular here. Take my advice.

TL;DR PAYE is awesome and you're foolish if you don't take advantage

Moving to Buenos Aires is not something everyone's willing to do. You have to pay taxes on the 200 (probably more than that).

[rpupkin]

I'm so tired of hearing about the debt whining on this site. really people? Do y'all not understand the concept of risk/reward? I mean I know y'all are all pretty risk averse considering you're lawyers, but damnit, stop being so meek. Be bold, take a loan and go to either a T14 or a school in the region you want to work. And pay whatever it takes to make it happen.

Also, you people never factor in individual's desire to be lawyers into the "should I go or should I not go" equation. Honestly, if you want to be a lawyer. borrow as much as possible and even go to a shitty school if you have to. What would your better options be really?

It's not all economics. It's not like 'oh Georgetown only puts 40% in BL, have fun working at starbucks with 200k in debt". No idiot, even if he does work at starbucks, he'll be on PAYE. And he may never have to pay that 200k back.

Your welcome for the new philosophy TLS. I'm an old regular here. Take my advice.

TL;DR PAYE is awesome and you're foolish if you don't take advantage

YES!!!! This should be the new philosophy: Massive Debt + JD + PAYE = Profit

[Pomeranian]

OL, Very curious about what the downside to this is other than the tax bomb at the end? Worst case, the gamble at GeorgeTTTown fails and you end up working at Starbucks, but does it matter since you will be bailed out by taxpayers?

[Gifted Hands]

Very curious about what the downside to this is other than the tax bomb at the end?

the bad part is the TAX BOMB OMG. Like that's gonna still be the policy when no one is gonna be able to pay it.

Basically, PAYE is a policy that incentivices students to take lots of loans. And they put the risk on the taxpayer

[eagle2a]

NO

[rpupkin]

0L Post.

nope rising 2L

It's still a 0L post, though.

[Gifted Hands]

OL, Very curious about what the downside to this is other than the tax bomb at the end? Worst case, the gamble fails and you end up working at Starbucks, but does it matter since you will be bailed out by taxpayers?

no

[psu2016]

Also, you people never factor in individual's desire to be lawyers into the "should I go or should I not go" equation. Honestly, if you want to be a lawyer. borrow as much as possible and even go to a shitty school if you have to. What would your better options be really?

Uh, telling people to borrow as much money as possible to go to a shitty school because they want to be a lawyer is cruel. If someone has an LSAT of 140 and a GPA of 2.1 the correct response is: let's try to find a career for you that's more appropriately aligned with your skill set.

Look, I've always wanted to be a professional basketball player. I think it would be freaking awesome and I would love it everyday, but nothing I can do at this point is going to get me there. I'm 5'6, out of shape, and haven't played since high school. Do I throw all my money at those adult summer camps coached by washout players thinking that I'll somehow be 'discovered'? No, I suck up my disappointment and accept that, although basketball isn't for me, there are plenty of other things I'm good at and I focus my energies there. Nobody has a "right" to be a lawyer just because they want to, and advising them to just drown themselves in debt to chase a pipe dream is irresponsible.

[Nachoo2019]

I'm so tired of hearing about the debt whining on this site. really people? Do y'all not understand the concept of risk/reward? I mean I know y'all are all pretty risk averse considering you're lawyers, but damnit, stop being so meek. Be bold, take a loan and go to either a T14 or a school in the region you want to work. And pay whatever it takes to make it happen.

Also, you people never factor in individual's desire to be lawyers into the "should I go or should I not go" equation. Honestly, if you want to be a lawyer. borrow as much as possible and even go to a shitty school if you have to. What would your better options be really?

It's not all economics. It's not like 'oh Georgetown only puts 40% in BL, have fun working at starbucks with 200k in debt". No idiot, even if he does work at starbucks, he'll be on PAYE. And he may never have to pay that 200k back.

Your welcome for the new philosophy TLS. I'm an old regular here. Take my advice.

TL;DR PAYE is awesome and you're foolish if you don't take advantage

Yeah take out 200k and you wont be able to keep up with even the interest so 20 years in you will have a 300k balance that they forgive. Where are you going to get the $$$ for taxes on 300K? Can you save up 150k in 20 years? Have you even researched what happens when the government magically forgives $300,000?


TL;DR Don't give shitty advice when you don't know what you are talking about

[Gifted Hands]

0L Post.

nope rising 2L

It's still a 0L post, though.

i get the schtick that you are trying to lower the # of lawyers but be objective man

[somethingElse]

Also, you people never factor in individual's desire to be lawyers into the "should I go or should I not go" equation. Honestly, if you want to be a lawyer. borrow as much as possible and even go to a shitty school if you have to. What would your better options be really?

Uh, telling people to borrow as much money as possible to go to a shitty school because they want to be a lawyer is cruel. If someone has an LSAT of 140 and a GPA of 2.1 the correct response is: let's try to find a career for you that's more appropriately aligned with your skill set.

Look, I've always wanted to be a professional basketball player. I think it would be freaking awesome and I would love it everyday, but nothing I can do at this point is going to get me there. I'm 5'6, out of shape, and haven't played since high school. Do I throw all my money at those adult summer camps coached by washout players thinking that I'll somehow be 'discovered'? No, I suck up my disappointment and accept that, although basketball isn't for me, there are plenty of other things I'm good at and I focus my energies there. Nobody has a "right" to be a lawyer just because they want to, and advising them to just drown themselves in debt to chase a pipe dream is irresponsible.

Working out is good for you bro.

[Gifted Hands]

I'm so tired of hearing about the debt whining on this site. really people? Do y'all not understand the concept of risk/reward? I mean I know y'all are all pretty risk averse considering you're lawyers, but damnit, stop being so meek. Be bold, take a loan and go to either a T14 or a school in the region you want to work. And pay whatever it takes to make it happen.

Also, you people never factor in individual's desire to be lawyers into the "should I go or should I not go" equation. Honestly, if you want to be a lawyer. borrow as much as possible and even go to a shitty school if you have to. What would your better options be really?

It's not all economics. It's not like 'oh Georgetown only puts 40% in BL, have fun working at starbucks with 200k in debt". No idiot, even if he does work at starbucks, he'll be on PAYE. And he may never have to pay that 200k back.

Your welcome for the new philosophy TLS. I'm an old regular here. Take my advice.

TL;DR PAYE is awesome and you're foolish if you don't take advantage

Yeah take out 200k and you wont be able to keep up with even the interest so 20 years in you will have a 300k balance that they forgive. Where are you going to get the $$$ for taxes on 300K? Can you save up 150k in 20 years? Have you even researched what happens when the government magically forgives $300,000?



TL;DR Don't give shitty advice when you don't know what you are talking about

dude everyone will be in the same boat, it'll be a bailout and you know it

[psu2016]

Also, you people never factor in individual's desire to be lawyers into the "should I go or should I not go" equation. Honestly, if you want to be a lawyer. borrow as much as possible and even go to a shitty school if you have to. What would your better options be really?

Uh, telling people to borrow as much money as possible to go to a shitty school because they want to be a lawyer is cruel. If someone has an LSAT of 140 and a GPA of 2.1 the correct response is: let's try to find a career for you that's more appropriately aligned with your skill set.

Look, I've always wanted to be a professional basketball player. I think it would be freaking awesome and I would love it everyday, but nothing I can do at this point is going to get me there. I'm 5'6, out of shape, and haven't played since high school. Do I throw all my money at those adult summer camps coached by washout players thinking that I'll somehow be 'discovered'? No, I suck up my disappointment and accept that, although basketball isn't for me, there are plenty of other things I'm good at and I focus my energies there. Nobody has a "right" to be a lawyer just because they want to, and advising them to just drown themselves in debt to chase a pipe dream is irresponsible.

Working out is good for you bro.

Working out does not magically transform one into a professional basketball player.

[Gifted Hands]

Also, you people never factor in individual's desire to be lawyers into the "should I go or should I not go" equation. Honestly, if you want to be a lawyer. borrow as much as possible and even go to a shitty school if you have to. What would your better options be really?

Uh, telling people to borrow as much money as possible to go to a shitty school because they want to be a lawyer is cruel. If someone has an LSAT of 140 and a GPA of 2.1 the correct response is: let's try to find a career for you that's more appropriately aligned with your skill set.

Look, I've always wanted to be a professional basketball player. I think it would be freaking awesome and I would love it everyday, but nothing I can do at this point is going to get me there. I'm 5'6, out of shape, and haven't played since high school. Do I throw all my money at those adult summer camps coached by washout players thinking that I'll somehow be 'discovered'? No, I suck up my disappointment and accept that, although basketball isn't for me, there are plenty of other things I'm good at and I focus my energies there. Nobody has a "right" to be a lawyer just because they want to, and advising them to just drown themselves in debt to chase a pipe dream is irresponsible.

Okay yea you went to the extreme end of my hypo and ran with it. Obvisouly someone with a 140 should not go to law school. I didnt think i needed to add that

[rpupkin]

0L Post.

nope rising 2L

It's still a 0L post, though.

i get the schtick that you are trying to lower the # of lawyers but be objective man

Please...no...don't expose the cabal. I already voiced support for your massive debt + PAYE idea. Is there anything else I can do to forestall your crusade?

[somethingElse]

Also, you people never factor in individual's desire to be lawyers into the "should I go or should I not go" equation. Honestly, if you want to be a lawyer. borrow as much as possible and even go to a shitty school if you have to. What would your better options be really?

Uh, telling people to borrow as much money as possible to go to a shitty school because they want to be a lawyer is cruel. If someone has an LSAT of 140 and a GPA of 2.1 the correct response is: let's try to find a career for you that's more appropriately aligned with your skill set.

Look, I've always wanted to be a professional basketball player. I think it would be freaking awesome and I would love it everyday, but nothing I can do at this point is going to get me there. I'm 5'6, out of shape, and haven't played since high school. Do I throw all my money at those adult summer camps coached by washout players thinking that I'll somehow be 'discovered'? No, I suck up my disappointment and accept that, although basketball isn't for me, there are plenty of other things I'm good at and I focus my energies there. Nobody has a "right" to be a lawyer just because they want to, and advising them to just drown themselves in debt to chase a pipe dream is irresponsible.

Working out is good for you bro.

Working out does not magically transform one into a professional basketball player.

NOT WITH THAT ATTITUDE IT DOESN'T!

[Gifted Hands]

Take Ole Miss for example- median lsat of like 150, most of them are gonna be lawyers and most of them are gonna be alright (they may never make it rich but at least they can be lawyers).

I'll conceded that the schools with the ridiculously low stats should be axed though.

comparing skills needed for NBA and being a lawyer do not compare in the slightest

[Gifted Hands]

0L Post.

nope rising 2L

It's still a 0L post, though.

i get the schtick that you are trying to lower the # of lawyers but be objective man

Please...no...don't expose the cabal. I already voiced support for your massive debt + PAYE idea. Is there anything else I can do to forestall your crusade?

no, bc it's an on going experiment. when did Paye start? like a few years ago?