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Student Loans!! I NEED ADVICE!!!!!!!
- Thread starter subluxfxr
- Start date
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Gambino
Guest
military pays 25% per year until the debt is payed
tempting
tempting
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Gambino
Guest
proly law school, if i had to guesssamoth said:$150K? Did you go to Stanford or LS? Surely that much money on an education must have yielded you with potential earning power with which to pay it off... unless you racked it up getting TTT degrees at a Harvard extention school or something.
Gambino said:
With dreams of clerking at SCOTUS, he had to settle with a TTT clerkship paying around $16/hour.
I believe Stanford is over $40k/year, so there are ugrads that one could rack up some nice student loans with. I don't see how anyone could do that without intent of going to grad school and deferring the loans until they got some decent income, though.
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Gambino
Guest
samoth said:With dreams of clerking at SCOTUS, he had to settle with a TTT clerkship paying around $16/hour.
I believe Stanford is over $40k/year, so there are ugrads that one could rack up some nice student loans with. I don't see how anyone could do that without intent of going to grad school and deferring the loans until they got some decent income, though.
my bro has around 130k in loans from depaul law and U of M
and he only makes around 50k
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heatherrae
Guest
TITCR!samoth said:Even people in T3 LS's often come to realize that the hours suck and pay isn't quite as expected... except the lucky few who land $200k BIGLAW jobs right away.
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Gambino
Guest
samoth said:Even people in T3 LS's often come to realize that the hours suck and pay isn't quite as expected... except the lucky few who land $200k BIGLAW jobs right away.
the way i understand it, big law jobs (wall street) are available only to those with ivy league degrees...if you don't have that, you won't even get a interview
Gambino said:
My knowledge doesn't extend much outside reading the XOXOHTH lawboard, but it seems those in T14 programs have the monopoly on BIGLAW. I don't know how much is related to networking and who one knows, as is often the case in science.
I often wonder how often people actually go to LS because of an interest and joy in subject material rather than the idea that they'll be making $200k right out of school.
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heatherrae
Guest
There are some firms like that. If you want to get in without a top 10 degree you have to work your way in laterally, which is tough to do.Gambino said:
There is other work to do, though that yields just as big bucks without all the BULLSHIT of a large firm. I did the large firm stint, and it SUCKED!
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Gambino
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my bro graduated with honours from michigan, then with honours from depaul to start making only 50ksamoth said:My knowledge doesn't extend much outside reading the XOXOHTH lawboard, but it seems those in T14 programs have the monopoly on BIGLAW. I don't know how much is related to networking and who one knows, as is often the case in science.
I often wonder how often people actually go to LS because of an interest and joy in subject material rather than the idea that they'll be making $200k right out of school.
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Gambino
Guest
samoth said:
lol...lemme get this str8...the son of the people living next to you have a son who got outta LS??
so you live next door to a great grandparents??
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Gambino
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yeah, 10 yrs to make partnersamoth said:As an associate at a rather small firm, I'm guessing?
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Gambino
Guest
nah, no crazy hourssamoth said:Is it at a sweatshop firm? He might not make it ten years...
How many hours a week does he work? Less than or over 100?
typical 9-5, small but wealthy firm
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heatherrae
Guest
The PPP? I don't know what that stands for. Should I? LOL.samoth said:
My firm was a branch office that had one managing partner. He had never promoted one single lawyer to partner in our branch. He didn't want to share the glory/money, basically. The Cleveland office was the office where all the partners were promoted etc. My managing partner also had never promoted a woman. The first year that I was there, I busted my tail. I did not take one single sick day or vacation day in an entire year. The next year, I called in sick on the Monday after Thanksgiving because I had a headache from HELL. You know that bastard called me in and said he was docking my SALARY because I took a sick day on the monday after a holiday. BASTARD. OH MY, did I grow a backbone that day and tell him off. That was the beginning of the end of my working hard for him...lol. After that, I was TERRIBLE on purpose because I knew I was going to quit.
Before that, I worked at a small firm and had been promoted so much that in a two year period, I doubled my salary.
When I get back into it in summer, I'm going to be a full partner, so it will be the best job I have had yet. I look forward to the money, but not going back into that rat race. Being a lawyer is probably the most stressful job on earth.
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heatherrae
Guest
Only non-partnership track positions really have you get by with 9-5. I always worked way longer hours.samoth said:1) I totally didn't think lawers worked 9-5 shifts. I figured they worked 80+ or something.
2) PPP = profeits per partner.
swole said:
They are Federal loans.
I racked up most of them in chiropractic school.
I have a DC w/specialization(Diplomate) in Neurology and about to finish my MD. So, i'm actually not done yet. lol Anyway, that's pretty much the gist of my life and the next gazillion years as well blah!
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heatherrae
Guest
Oh dear, you can defer your student loans until 2 years after you graduate. MD's make such good money. I wish I had gone to med school, now. ;-)subluxfxr said:
Honestly its just that 150k is a ton of money to me and I don't want to part with it if I ever do start making it. Whatever though...they apparently come knockin' pretty soon after your done, but according to my graduated roommate, we can defer 5 years for the life of the loan. Either way, defer it or not, i'm just a little haunted having 150k over my head...lotta money!
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heatherrae
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Not when you are making 300 - 500 k per year. My doctor friend in YOUNG and already pulling down that much money.subluxfxr said:
subluxfxr said:
But how much do you owe a month? How much do you anticipate earning per month? What do you think you would be earning if you had not taken out the loans and gone to school for this?
Note: Don't default on your loans. They will take everything including your first-born.
mountain muscle
New member
heatherrae said:
Damn that is at least 10 years in the oilfield, if you fast track it and know people.
I'm curious as to what your interest rate is on these loans........I know they got down to under 3% a few years ago. Mine (1980's) ranged from 10-12%! Plus now the interest is deductible and that was not the case in my day. Took me 12 years (2 one year deferals) to pay mine off!
subluxfxr said:
If you are about to become a doctor you are smart enough to realize you should have thought about what a lot of money you would have to borrow to pay for the fancy doctor schoolin'. I suggest you defer however long you think it takes to find adequate employment then start making the payments in earnest and possibly doubling up on the payments to reduce the principle faster. Live below your means for a while when you are making big doctor cash.
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heatherrae
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mountain muscle said:
He didnt mention the consolidated interest rate until the end of the thread where my post is. I dont take the time to read every single post before replying. Time is money, remember?medical said:Ummmmm....why in the HELL would you EVER want to pay off a loan at under 3% interest, Einstein? You can earn more than that on a decent interest checking account! Genius advice up in here.......
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heatherrae
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ummmm...yeah, what an idiot for spending $150k to get an education that will make him at least $250,000 per year. We should all be so dumb!Wootoom said:
Go take another dose ot the haterade.
hahaaha no kiddin i cant believe someone would be stupid enough to post something like thisheatherrae said:ummmm...yeah, what an idiot for spending $150k to get an education that will make him at least $250,000 per year. We should all be so dumb!
Go take another dose ot the haterade.
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heatherrae
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You idiot...lol. I can still feed your balls to the rabid pomeranians, you know?Wootoom said:
