Most money you would spend for Law school and why? Forum

[TFALAWL]

OP: 3L from UVA w/ biglaw offer

The most I would spend for law school (including COL) is 130k.

I am willing to commit to biglaw for two years but not more. Realistically, I can save 50k a year in big law to put towards loans.

I want to leave biglaw with no more than 50k in remaining debt because that is the threshold where I feel I could comfortably manage payments with a much lower paying job that isn't necessarily public interest.

[Anonymous User]

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[ballouttacontrol]

$1 billion dollars because no matter how low my income ends up being, I end up with a cooler career, higher income upon graduation, and a much higher ceiling than I would've had otherwise

PAYE makes "cost" of education LOL. Non-sarcastic thanks to Obama and the other libs for the free money to take a 3 year vacation lol. If by some extraordinary twist of fate the tax bomb still exists in 20 years, just file a Chapter 13 bankruptcy, which has the effect of extending your pitiful loan payments for another 3-5 years. Unless you're still making less than $100k or so by then, in which case, you will fall below the means test and can file a Chapter 7 giving you 100% forgivement on the tax bomb

[mohdban]

This question is nonsensical as it assumes you can put a price tag on law school education.

Law school education is clearly priceless!

[zot1]

About 20k.

[Catsinthebag]

$1 billion dollars because no matter how low my income ends up being, I end up with a cooler career, higher income upon graduation, and a much higher ceiling than I would've had otherwise

PAYE makes "cost" of education LOL. Non-sarcastic thanks to Obama and the other libs for the free money to take a 3 year vacation lol. If by some extraordinary twist of fate the tax bomb still exists in 20 years, just file a Chapter 13 bankruptcy, which has the effect of extending your pitiful loan payments for another 3-5 years. Unless you're still making less than $100k or so by then, in which case, you will fall below the means test and can file a Chapter 7 giving you 100% forgivement on the tax bomb

Yes, Obama and "the other libs" are responsible for your/others' level of personal responsibility. There's roughly a zero percent chance of that 'tax bomb' significantly affecting those who may be subject to its effects come a decade-and-a-half from now. For anyone looking at school now, it's a non-issue.