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Messages - xferlawstudent

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General Board / Re: 2009 USnews Rankings
« on: March 29, 2008, 03:08:54 PM »
I think everyone who is opposed to the existance of T4 schools is misplacing their blame.  Its the bar exam, not law school admission, that is the vehicle which regulates the number of licensed lawyers.  Graduates from both T4 and T14 schools take the same bar exam and for the most part exhibit the same bar passage rates (although some T4 schools have abysmal bar passage rates, many have passage rates in the 90%).

I think the real problem is that the bar exam is too easy and/or the passing score is too low.

General Board / Re: 2009 USnews Rankings
« on: March 29, 2008, 12:40:51 PM »
Its all a bunch of BS.  Of course HYS is better than, say, Stetson or GA State.  But, does anyone really believe that Cornell is really better than GULC or Texas?  Is GWU really worse than GULC? Its crazy.

What's really silly is this situation:  Two students go to the same undergrad institution and both have 3.5 UGPAs. One knocks the LSAT out of the park and gets a 179 and the other a 155.

Without going to Law School Numbers, its pretty safe to assume that the first student will get into a T14 and the second student a T2/T3 or so.

Now suppose the student with the 179 LSAT is in the Top 1/2 of his law school class and the second student is in the Top 10%, Moot Court, Law Review and is active.  Its no suprise that the first student does better in the job search and why, the LSAT?!?  Now that's a crazy system.

General Board / Re: Student Loan Cosolidation Questions
« on: March 26, 2008, 08:06:01 PM »
Well, dude read the f-ing rules.  You say its not a good time to consolidate, but clearly you have no clue what you are talking about.  If you had loans with a weighted average of less than 3% good for you, but I cannot shop around to get this.  The rates are fixed.

General Board / Re: Student Loan Cosolidation Questions
« on: March 26, 2008, 07:36:04 PM »
The rules are different for loans prior to 1998.  Also, if the weighted average of your loans was 3% then that's what you got.

Interest rate

The interest rate for FFEL and Direct Consolidation Loans is set according to a formula established by federal statute. The fixed rate is based on the weighted average of the interest rates on the loans at the time you consolidate, rounded up to the nearest one-eighth of a percent. The interest rate does not exceed 8.25 percent. The consolidation rate is fixed for the life of the loan, which protects you from future increases in variable rate loans but prevents you from benefiting from future decreases in variable rates.

Borrowers with Stafford Loans issued on or after July 1, 1995, can reduce the consolidation rate by up to half a percentage point or more by consolidating before the end of the grace period.

If a borrower wanted to consolidate only Direct or FFEL Stafford Loans made between July 1, 1998 and June 30, 2006, the 2007-08 Consolidation Loan interest rate for loans that have entered repayment would be 7.22 percent. To consolidate those same loans during a grace or deferment period, the rate would be 6.62 percent. If a borrower consolidated PLUS Loans made between July 1, 1998 and June 30, 2006, the interest rate for the resulting PLUS Consolidation Loan would be 8.02 percent.

The interest rate you would receive, however, depends on which federal student loans are being consolidated. For example, your rate would be higher if you consolidated a 5 percent Federal Perkins Loan along with a 6.62 percent Direct or FFEL Stafford Loan"


General Board / Re: Student Loan Cosolidation Questions
« on: March 26, 2008, 07:28:29 PM »
Interest rates do vary but they will never be more than 8.25% for federal loans.  Right now they aren't great.  If you can afford to wait, you might want to.

As far as information about consolidating, go to any of the lenders websites and they give you all the information you need about the process.  If your lender doesn't do them, or you are willing to go elsewhere and have never consolidated before, you might want to shop around for a better interest rate.  Some are higher than others, some charge fees where others don't, etc.

You cannot shop around for interest rates.  They are FIXED.  You must mean private loans, not federal.

General Board / Re: Student Loan Cosolidation Questions
« on: March 26, 2008, 07:27:23 PM »

when you consolidate federal loans, the rate will be FIXED at the weighted average of your current interest rates or 8.25%, whichever is less.

Once you consolidate, they will not vary.

General Board / Re: Student Loan Cosolidation Questions
« on: March 26, 2008, 05:24:08 PM »
Now isn't a great time to consolidate.  Wait until the rates drop. My college loans are under 3% because I consolidated when the time was right.  In the next 3-5 years they will drop again, but now is a bad time for rates. You will likely end up with like 5-7%, which is pretty much garbage.

That's not true for Federal Consolidation.  The Federal rates are set by statute at the lesser of the weighted average of all your loans' interest rates or 8.25%.  Changes in the Federal Funds Rates will not affect consolidation.

General Board / Student Loan Cosolidation Questions
« on: March 25, 2008, 02:44:36 PM »
I'm looking to learn more about consolidating my student loans.  Does anyone have any good websites to learn more about the process?

3L job search / Re: Writing Sample length
« on: March 20, 2008, 07:55:40 PM »
Its not a brief

3L job search / Re: Out of my League to handle
« on: March 20, 2008, 07:17:20 PM »
I had the interview the other day.  I tried to focus on my experience rather than on pedigree and class rank.  I think it worked, we hit it off, and I have a callback to meet with this guy's superior next week.  I think it went pretty well.  Thanks for all the advice.

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