Clerkship - Information Request Forum

[ScaredWorkedBored]

No journals.

No good reason for this.

[Anonymous User]

CCN, top 10%, secondary journal. landed district court for next year and circuit court for the year after.

[dbt]

CCN, top 10%, secondary journal. landed district court for next year and circuit court for the year after.

sweet deal!

[BradyToMoss]

CCN, top 10%, secondary journal. landed district court for next year and circuit court for the year after.

Anyone with large amounts of student loan debt out there looking to do a clerkship and a follow-on (or a 2 year clerkship) before heading into BigLaw? How does one go about handling student loan payments those first two years, as IBR and similar options are certainly out if BigLaw is the long term plan?

[270910]

CCN, top 10%, secondary journal. landed district court for next year and circuit court for the year after.

Anyone with large amounts of student loan debt out there looking to do a clerkship and a follow-on (or a 2 year clerkship) before heading into BigLaw? How does one go about handling student loan payments those first two years, as IBR and similar options are certainly out if BigLaw is the long term plan?

I would imagine by paying the student loans? Clerkships pay better than plenty of jobs people with 6 figure law school get for the long term...

[BradyToMoss]

CCN, top 10%, secondary journal. landed district court for next year and circuit court for the year after.

Anyone with large amounts of student loan debt out there looking to do a clerkship and a follow-on (or a 2 year clerkship) before heading into BigLaw? How does one go about handling student loan payments those first two years, as IBR and similar options are certainly out if BigLaw is the long term plan?

I would imagine by paying the student loans? Clerkships pay better than plenty of jobs people with 6 figure law school get for the long term...

The question involved how people in a similar situation were structuring the repayment. It makes no sense to take many of the repayment options people going into public interest and gov't positions for the long term. Similarly, with $200k+ in debt, a clerk is likely going to have to make payments under a 30-year repayment plan unless they can somehow further defer payment, but in the long term would want a much shorter repayment period if going into Biglaw or similar paying positions. My question was directed towards people who actually had insight into the viable options for structuring repayment in this situation, but thanks for your great input.

[Anonymous User]

CCN, top 10%, secondary journal. landed district court for next year and circuit court for the year after.

Anyone with large amounts of student loan debt out there looking to do a clerkship and a follow-on (or a 2 year clerkship) before heading into BigLaw? How does one go about handling student loan payments those first two years, as IBR and similar options are certainly out if BigLaw is the long term plan?

I'm planning on IBR -- that isn't a lifelong commitment. It just lowers payments for the periods in which you qualify for it.

[Anonymous User]

CCN, top 10%, secondary journal. landed district court for next year and circuit court for the year after.

Anyone with large amounts of student loan debt out there looking to do a clerkship and a follow-on (or a 2 year clerkship) before heading into BigLaw? How does one go about handling student loan payments those first two years, as IBR and similar options are certainly out if BigLaw is the long term plan?

I'm planning on IBR -- that isn't a lifelong commitment. It just lowers payments for the periods in which you qualify for it.

Is that right? I had no idea. IBR aside, my (COA clerk, ~180k in loans) plan was to use a combination of salary (~60k) and saved funds (>20k by the time I start) to pay my loans off. I have two kinds of loans, one of which I'll be deferring to the max and then paying on a 25- or 30-year schedule, the other which I'll be paying on a 10-year schedule with little to no deferral. After crunching the numbers, this should be fine as long as I don't spend too ridiculously. More importantly, the setup looks like it will work if I end up taking a second clerkship.