Law School Discussion

Deciding Where to Go => Financial Aid => Topic started by: NOTaPepsiFan on April 21, 2008, 04:17:15 PM

Title: Choosing a Bank/Lender for GraduatePLUS Loans?
Post by: NOTaPepsiFan on April 21, 2008, 04:17:15 PM
I have to pay for everything myself.  After scholarships/stafford/perkins loans, I have an additional ~$9500/y that I need to take out in GraduatePLUS loans to meet the total COA.

Can anyone offer advice on which lender I should be using?

I have good enough credit to qualify for GraduatePLUS, but I don't have any real assets or anything...

Oh, also, I want to pay things off really fast.  I think I can live like a student for 6 more years.
Title: Re: Choosing a Bank/Lender for GraduatePLUS Loans?
Post by: Bulldog86 on April 21, 2008, 07:37:48 PM
I think I can live like a student for 6 more years.
That sounds good now, until you start cashing a huge associate check and want to buy something you're just now able to afford...
Title: Re: Choosing a Bank/Lender for GraduatePLUS Loans?
Post by: czarevich on April 22, 2008, 07:15:22 AM
Bank of America offers you a .25% interest reduction if you become or are an existing account holder. 
Title: Re: Choosing a Bank/Lender for GraduatePLUS Loans?
Post by: wiimote on May 17, 2008, 11:08:56 AM
If you are going to a tier 2 law school, you should choose DO Bank for your loans. DO stands for drop out.

You can't afford $170,000 of debt with the salaries you're going to make. See e.g. http://www.law.com/pdf/nlj/regional_NY.pdf
Title: Re: Choosing a Bank/Lender for GraduatePLUS Loans?
Post by: SCK2008 on May 17, 2008, 11:32:21 AM
If you are going to a tier 2 law school, you should choose DO Bank for your loans. DO stands for drop out.

You can't afford $170,000 of debt with the salaries you're going to make. See e.g. http://www.law.com/pdf/nlj/regional_NY.pdf

LMAO.

Wiimote is dude, always and forever...
Title: Re: Choosing a Bank/Lender for GraduatePLUS Loans?
Post by: JeNeSaisLaw on May 17, 2008, 11:46:23 AM
If you are going to a tier 2 law school, you should choose DO Bank for your loans. DO stands for drop out.

You can't afford $170,000 of debt with the salaries you're going to make. See e.g. http://www.law.com/pdf/nlj/regional_NY.pdf

He's going to Emory on a >75% scholarship. He is in no danger and Emory is not tier 2. Go to hell.
Title: Re: Choosing a Bank/Lender for GraduatePLUS Loans?
Post by: SCK2008 on May 17, 2008, 12:42:12 PM
Even if he was not on scholarship, 170k is manageable w/o "biglaw".  It might not be preferable, but it certainly is manageable considering a 30 year consolidated loan breaks down to around 1000/month.  This is certainly doable on the 50k/year salary some folks will make after graduation.

It is especially doable considering what many of those same lawyers that started at 50k will making 5-10 years down the road.  Criminal law/ambulance-chasing/etc. might not be prestigious but it can be very lucrative.  Period.

Go to law school if you want to be a lawyer.  If you want to be a dude?  Ask Wiimote...
Title: Re: Choosing a Bank/Lender for GraduatePLUS Loans?
Post by: wiimote on May 17, 2008, 12:54:51 PM
Even if he was not on scholarship, 170k is manageable w/o "biglaw".  It might not be preferable, but it certainly is manageable considering a 30 year consolidated loan breaks down to around 1000/month.  This is certainly doable on the 50k/year salary some folks will make after graduation.

Are you sure it's only $1,000/month?
Title: Re: Choosing a Bank/Lender for GraduatePLUS Loans?
Post by: SCK2008 on May 17, 2008, 01:00:09 PM
I'm certain its around 1k/month.  Re-read my post.  I'm certain you're a feminine hygiene product.
Title: Re: Choosing a Bank/Lender for GraduatePLUS Loans?
Post by: wiimote on May 17, 2008, 01:02:02 PM
It is especially doable considering what many of those same lawyers that started at 50k will making 5-10 years down

Not for the vast majority of lawyers. Keep in mind you're competing with new grads for relatively poor clients. Google - two lawyers walk into a bar chicago tribune - for the article.
Title: Re: Choosing a Bank/Lender for GraduatePLUS Loans?
Post by: SCK2008 on May 17, 2008, 01:06:45 PM
Wrong again d-o-u-c-h-e.  I know plenty of successful attorneys in real life but thanks for your concern feminine hygiene product.  These "biglaw" spots are all guaranteed though aren't they?  Oh right, nothing in life is...

*hug*
Title: Re: Choosing a Bank/Lender for GraduatePLUS Loans?
Post by: wiimote on May 17, 2008, 01:12:41 PM
Doubtful, but regardless, it makes no sense to pay full price for a tier 2. You can get the same opportuniteis out of a tier 4.
Title: Re: Choosing a Bank/Lender for GraduatePLUS Loans?
Post by: SCK2008 on May 17, 2008, 01:15:15 PM
Regardless, you're a feminine hygiene product.


*hug*
Title: Re: Choosing a Bank/Lender for GraduatePLUS Loans?
Post by: wiimote on May 17, 2008, 01:23:41 PM
Stop hugging me you f*#.
Title: Re: Choosing a Bank/Lender for GraduatePLUS Loans?
Post by: SCK2008 on May 17, 2008, 01:29:13 PM
Stop hugging me you f*#.

Stop using derogatory terms when referring to homosexuals.  I am not a homosexual and my hugs are more in the vein of the Robin Williams and Matt Damon ones in the film Good Will Hunting...d-o-u-c-h-e.

"its not your fault"

*hug's the feminine hygiene product*