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Topics - cwhelan

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Incoming 1Ls / LOANS: Your debt load? Normal debt load?
« on: May 31, 2010, 11:07:04 AM »

I anticipate being 175k in the hole, which is right within what my school cover under its LRAP. But just because the school allows it doesnt always mean its a good idea.. is that a normal amount? How about you?


Hi, I'm a few months away from being a 1L at NYU. Get to the top of the story, my budget looks like I'll come out of this with 175k of debt. Is that a reasonable amount of debt to carry for earning an NYU degree? I want the facts, not just that its a great school or whatever. What do YOU think you'll be carrying in loans? How do you feel about that?


Long story..
My mother and I have created a budget for me. The school sets out ~77k as the basic amount of tuition/books/housing/food. However I have other expenses (I understand some could be cut should I really need to make cuts)....we are unsure if we should get rid of my car, although we can insure it for 70% less if I have it parked for a few months at a time. My twin is in graduate school in another state and I live 5 hours away from my actual home.. add money for that.. add at least 1800 for a professional wardrobe (spread over 3 years)... money each year for other clothes.. cell phone bills, the times i break *&^% unnecessarily, and the cost of a several nights out a month with a few drinks at a bar, and the amount I think I'm looking at spending sounds like ...90k a year in expenses. I have an expected contribution but of course I can borrow past that without having to ask for a budget readjustment from NYU's part. So no hassle there. I can just borrow if I want.
I anticipate contributing about 45,000 and my mother 50,000 to this whole experience, leaving me with.. yeah, 175k in loans....

So, I am interested in public interest, and at NYU the LRAP will pay back only a certain amount of money, whatever is required besides stafford loan and your expected contribution to meet their bare bones budget... Amazingly enough, this number works out so that I can borrow about 60k a year over the three years without going beyond what LRAP will cover. With my expected costs beyond my mother's and I's contributions (175 - 3(60))= -5 ... I actually stay just within LRAP's allowable debt burden. So it does seem to me that NYU considers this reasonable.

My fear is that, while it is allowable to have this much debt, many other students will actually carry much less debt. Also, I never think budgets work too well, I'm not a big believe in statistics and accounting's purity... for example my budget includes NO income from myself, just savings, because I have no idea if I'll get a summer job that makes money. So I guess some stuff just will have to play out....

Any advice would be great..

Hello all,
I am doing an Americorps job this year and know that I will kill myself quickly if I continue to work this much as an adult rather than just a 1 year youthful energy stint. What positions or whole fields would allow me to work less than 50 hours a week, preferably 40, although I know that is almost impossible? I have got myself into a pretty good school and I hope to be 'going places' but it seems no career path leads to anything but way too much work.
I know I have to make exceptions for trial time, should I do that.


What does it mean when you apply ED to a school but then they get back to you and say we can't make a decision at this time, obviously we no longer hold you to the terms of ED, and we will consider you with the regular applicants? I don't know if anyone has that happen and is ultimately accepted, or if its a generally bad sign, or what. Any knowledge?

Man, I think its so unfair that Im busting my balls just as much and yet have to pay $700 to do this process.

hello all,
let me just start by saying this is a hypothetical question.
can someone with a possession conviction for pot be admitted to law school/the bar? does it vary by state? does it help if it happened 3-4 years before? what if it happens one year before applying? etc etc. i cant seem to find a result to my answer via google.

Choosing the Right Law School / -
« on: June 25, 2008, 08:45:06 AM »

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