Ohio Schools Forum

(Applications Advice, Letters of Recommendation . . . )
nixy

Gold
Posts: 4445
Joined: Fri Feb 16, 2018 8:58 am

Re: Ohio Schools

Post by nixy » Fri Mar 12, 2021 12:22 pm

Oh duh, I missed that. Yeah, I’m not sure how that will play out long term. It certainly could get extended, but who knows.

I’m not certain where we are on a timeline for most people on income-based plans - like there aren’t many people who’ve gone through PSLF yet because it’s still fairly recent, and I think PAYE and REPAYE fall into this category (that is, no one will hit 20-25 years on those plans for a little while still). That said, I’m not sure what was in place before PAYE/REPAYE and how many people are likely to be looking for forgiveness before 2025.

(Which is to say that I agree the 2025 deadline is probably in place ahead of a forgiveness event, like the proposal to forgive $10k of loans, rather than intended to apply to the bulk of people currently on IBR plans.)

JamezPhoenix

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Posts: 51
Joined: Fri Aug 10, 2018 10:03 am

Re: Ohio Schools

Post by JamezPhoenix » Fri Mar 12, 2021 7:15 pm

nixy wrote:
Fri Mar 12, 2021 9:58 am
The problem with being in debt repayment forever is that eventually it ends, you get the debt forgiven, but you have to pay taxes on the amount forgiven as income. If you’ve been paying the minimum the total may be a lot. And a lot of people really don’t want to be paying student loans for 20 years. But there is definitely a school of thought that this is fine and it’s better to save up for the tax bomb rather than pay large amounts sooner. It’s very much a personal preference thing.
I guess that is my main point. So much of the discussion that I see seems to hold that any real amount of debt is prohibitive. Sure, for people who immediately want a comfortable life after law school, want to easily be approved to buy a house and settle down, it might be. But I think that while debt is certainly scary, it is also certainly manageable. Even at traditionally "trap schools" like USC or GW I don't think sticker is a death sentence. Should you go to either of those schools expecting to get top 25 percent and dream biglaw job, no, but it is certainly a possibility. Too often we engage in this dichotomous thinking that lawyers are either rich and happy or unemployed and miserable. Know what you want to do, understand the risks and have a plan. We should be giving people advice centered around that. Anyways, that was just my two cents.

obamalaw

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Posts: 30
Joined: Thu Jan 21, 2021 2:08 pm

Re: Ohio Schools

Post by obamalaw » Wed Mar 17, 2021 2:25 pm

This post has gotten way out of hand. OP- why ask for advice if you want to negate each answer given? These people are genuinely trying to help you and make you look at the scenario from all sorts of different angles (a great trait for an attorney). I feel like you already had your mind made up before you posted.

Paul McCartney sung it best "Live and Let Die."

KPUSN07

Bronze
Posts: 321
Joined: Tue Oct 20, 2015 9:37 am

Re: Ohio Schools

Post by KPUSN07 » Thu Mar 18, 2021 1:17 pm

tomtownsend wrote:
Wed Mar 10, 2021 8:59 pm
ignorantfoot96 wrote:
Wed Mar 10, 2021 8:38 pm
tomtownsend wrote:
Wed Mar 10, 2021 5:57 pm
cavalier1138 wrote:
Wed Mar 10, 2021 4:21 pm
tomtownsend wrote:
Wed Mar 10, 2021 3:30 pm
cavalier1138 wrote:
Wed Mar 10, 2021 3:26 pm
tomtownsend wrote:
Wed Mar 10, 2021 3:04 pm
Repay it? By being a lawyer.....
How much money are you going to earn as a lawyer, and what are your monthly debt payments going to be?
How can I say how much until I get a job? Cart before horse

Monthly debt payment I’ll keep to myself, don’t want dox
You can say how much because attorney salaries are well documented. You can easily find public defender salaries for your area of Ohio if you want to know precise numbers.

And hypothetical monthly debt payments don't dox you. I'm not asking you for bank account routing information. I'm asking how much you anticipate being able to pay in order to service your $145k+ debt from Akron. You've thought about this, right?
I have THOT about it. Ive told way too many people my expected monthly payment and since I’m only person discussing Akron now that wouldn’t make sense to say. You can look up salaries yourself, I have an idea
This can't be a real applicant right? like at this point, there is just no way this is not a troll. (I'm asking to help me sleep at night - that someone who is probably going to law school can be this ignorant to logic).
Lol bro I’m no applicant I’m admitted. Go back to sleep
Interesting - did Akron give you a scholarship? Your numbers are above the medians....

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