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Most money you would spend for Law school and why?
Posted: Mon Apr 04, 2016 11:15 pm
by 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.
Re: Most money you would spend for Law school and why?
Posted: Wed Apr 20, 2016 12:37 am
by Anonymous User
.
Re: Most money you would spend for Law school and why?
Posted: Wed Apr 20, 2016 12:38 am
by 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
Re: Most money you would spend for Law school and why?
Posted: Wed Apr 20, 2016 4:35 am
by mohdban
This question is nonsensical as it assumes you can put a price tag on law school education.
Law school education is clearly priceless!
Re: Most money you would spend for Law school and why?
Posted: Wed Apr 20, 2016 8:37 am
by zot1
About 20k.
Re: Most money you would spend for Law school and why?
Posted: Wed Apr 20, 2016 9:13 am
by Catsinthebag
ballouttacontrol wrote:$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.