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small coastal town with very low cost of living (can buy 2000 square foot house in safe neighborhood for around $100k) but high quality of life (next to beach, lots of greenspace, etc). roughly 20 lawyers in firm; most associates make partner after 7 years. billable expectation is 1600-1800. t14 3L, top 1/4, hosed @ OCI. take it or hold out?

naw dog f jobs i mean seriously fuck who would want one of those?

What is your loan situation?

helfer snooterbagon wrote:What is your loan situation?

have about $200k in student loans, all from law school. I did the IBR calculations, and my payment under that plan would be about $593/month.

After reading the first line of your post "small coastal town", I wonder whether the firm is going to pay you the $62,500 or whether you have to pay them since many toil away 35 or 40 years in order to be able to live near the ocean.

hold out? FOR WHAT???

if you don't want it, i'll take it.

seriously, is there a reason you would hold out? what is the firm culture? do they work in an area you're interested in?

...

It makes me happy that the poll is unanimous.

Yeah, but I'm still keeping my vote a secret.

ok, to the 1 person who voted hold out, explain your reasoning.

Anonymous User wrote:

helfer snooterbagon wrote:What is your loan situation?

have about $200k in student loans, all from law school. I did the IBR calculations, and my payment under that plan would be about $593/month.

But for how many years? Don't forget that IBR just pushes the reminder back onto the loan unless you get a loan forgiveness for public interest.

jayn3 wrote:if you don't want it, i'll take it.

seriously, is there a reason you would hold out? what is the firm culture? do they work in an area you're interested in?

i'm definitely leaning toward taking it. just thought i'd see what the TLS public opinion is first to make sure I don't accept purely out of emotional response. The firm culture seemed very friendly/easy-going when I visited. They do a wide variety of practice areas, from personal injury to antitrust to securities to white collar crim defense to workers comp, and even some maritime. I'd basically be doing research for all of the above, assisting the partners in whatever they need done.

CyLaw wrote:

Anonymous User wrote:

helfer snooterbagon wrote:What is your loan situation?

have about $200k in student loans, all from law school. I did the IBR calculations, and my payment under that plan would be about $593/month.

But for how many years? Don't forget that IBR just pushes the reminder back onto the loan unless you get a loan forgiveness for public interest.

for 25 years unless my salary increases such that i can pay it off sooner. after year 25 it's forgiven, but the forgiveness is taxable income. i'd try to save in government bonds for 25 years to pay off the taxes when they became due.

Anonymous User wrote:

CyLaw wrote:

Anonymous User wrote:

helfer snooterbagon wrote:What is your loan situation?

have about $200k in student loans, all from law school. I did the IBR calculations, and my payment under that plan would be about $593/month.

But for how many years? Don't forget that IBR just pushes the reminder back onto the loan unless you get a loan forgiveness for public interest.

for 25 years unless my salary increases such that i can pay it off sooner. after year 25 it's forgiven, but the forgiveness is taxable income. i'd try to save in government bonds for 25 years to pay off the taxes when they became due.

Good. Just wanted to make sure you were aware of the extended payments and the ballon tax payment at the end. Job sounds good, and like others have said, if the choice is between it and being unemployed, then the job should win.

I vote live the dream.

Sounds like a pretty sweet gig. I say take it.

Unless this "small coastal town" is in Louisiana. Then I might reconsider. Screw the Napoleonic code.

Again, any reason you might hold out? What is holding you back from taking it?

How far is the town from your family/friends? Do you have a significant other? What does he/she think about it. Is there enough to do there to keep you happy for a few years?

I say this because I moved to a smaller city close to a beach for my last job, and I hated the culture, I knew nobody there, the job ended up being a joke, and there's a reason I quit to go to law school. Yes, it was easy to get my friends to come visit living near a beach, but only so many friends can visit if they have to fly out to see you. It can be really hard to meet other single young people in a lot of small towns. Most of them are married and have kids by the time they are 20, and the ones that aren't moved to a big city because they were bored as hell and couldn't meet anyone.

Current vote count:

40 correct & 2 incorrect.

Thomas Jefferson wrote:It makes me happy that the poll is unanimous.

CanadianWolf wrote:Yeah, but I'm still keeping my vote a secret.

Lmao, pure gold!

I would request an admin or mod change the poll to "OP: Fuckstick or biggest fuckstick?"

disco_barred wrote:I would request an admin or mod change the poll to "OP: Fuckstick or biggest fuckstick?"

Good pay + good QOL + good area + having a job in this horrible economy <<< PRESTIGE.

You really should just ask yourself whether or not you were born and bred for success.

FYI for the tax balloon at the end of IBR mentioned above, I checked with a local attorney who told me it was absolutely not treated as income for tax purposes when they forgive the debt if you do the public service 10 year plan. I did not ask about the private option so that may be different.

JPU wrote:FYI for the tax balloon at the end of IBR mentioned above, I checked with a local attorney who told me it was absolutely not treated as income for tax purposes when they forgive the debt if you do the public service 10 year plan. I did not ask about the private option so that may be different.

True for the 10 year public service loan forgiveness. The 25 year private loan forgiveness is currently taxable though.

http://www.finaid.org/loans/forgivenesstaxability.phtml