NY Bar App Q- Loans Addendum? Forum

[sandwiches5000]

Hi there, doing the NY character and fitness now. This is kind of a weird question, but is there any harm in writing an addendum explaining that I have a plan for paying off my loan debt? I have a firm job and I've used those debt calculators. I can definitely pay it off in ten years or less. If you look at my credit report it looks like I have a million student loans out but some have been consolidated/combined or paid off. I have a lot of debt because I took out loans in undergrad and law school. I read there was some guy who was denied admission because he had too much debt and had no "plan" and I got all paranoid. Didn't know if an addendum would make me look crazy. I have never missed a payment on anything ever in my 9-year credit history, but my undergrad loans are in forbearance right now because I graduated in December and don't start my firm job until Sept. (I've made a couple of payments but the interest rates are low and I would rather save money for moving... May make a payment or two though if it makes me look better for the bar people.)

Thanks.

[raptors_delight]

Bump. Also curious.

[raptors_delight]

Oh, damn. Just realized this is from 2015, not 2016. OP, what did you end up doing? I'm in an identical situation.

[Danger Zone]

That's weird. Don't do that. Don't draw attention to your loans, which are probably fine unless they exceed a half million or something ridiculous. They care about debts which are past due 90 days or more if I recall correctly, not whether you have a plan to pay down debt.

[bluewin888]

They care about debts which are past due 90 days or more?


GOOD TO KNOW