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Paying off Law School Loans & Big Law
Posted: Wed Sep 17, 2014 9:37 am
by Anonymous User
Does anyone have advice from personal experience about how long it normally takes to pay off student loans? I go to a t-20 and pay full sticker, but was lucky and landed a job in big law starting next year.
Thanks for any and all information.
Re: Paying off Law School Loans & Big Law
Posted: Wed Sep 17, 2014 9:46 am
by toothbrush
Anonymous User wrote:Does anyone have advice from personal experience about how long it normally takes to pay off student loans? I go to a t-20 and pay full sticker, but was lucky and landed a job in big law starting next year.
Thanks for any and all information.
this is a great resource:
http://www.top-law-schools.com/forums/v ... 3&t=220025
Re: Paying off Law School Loans & Big Law
Posted: Wed Sep 17, 2014 10:09 am
by toothbrush
as a follow up, i browse /r/personalfinance a bit and see similar posts to what you are looking for - success stories of people paying off large chunks of loans. although not lawyers, you can extrapolate. i just sorted by top/all time and found this which may be a good starting point --LinkRemoved--
(i'm not here to argue the merits of the advice on /r/pf just saying it's another place to browse if you are interested in this sort of discussion)
good luck, and congrats on the SA
Re: Paying off Law School Loans & Big Law
Posted: Wed Sep 17, 2014 10:21 am
by Desert Fox
Five or six years at full sticker in a high cost of living area at market rate. Maybe 4 in Texas. 6-7 in NYC.
Re: Paying off Law School Loans & Big Law
Posted: Wed Sep 17, 2014 10:25 am
by Anonymous User
OP here.....thank you for all the information. It is in NYC, so I was assuming 10 years, but 6-7 years sounds a lot better haha
Re: Paying off Law School Loans & Big Law
Posted: Wed Sep 17, 2014 10:27 am
by Old Gregg
Anonymous User wrote:OP here.....thank you for all the information. It is in NYC, so I was assuming 10 years, but 6-7 years sounds a lot better haha
Depends on how aggressive you are. You should be eating ketchup sandwiches if your rate is 7%+. You should be doing 10 years and meals at chipotle if you snag a 3% or lower interest rate instead.