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Messages - Drew P. Bottom

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Financial Aid / Re: payback time
« on: April 17, 2007, 05:55:38 PM »
Oh and I just did a calculation using the helpful calculator at

If you repaid a 150,000 5% interest loan in 10 years, you would end up paying  $190,918.03
If you repaid the same loan at 5% interest in 35 years, you would end up paying      $317,954.32

Financial Aid / Re: payback time
« on: April 17, 2007, 05:51:34 PM »
Why are people so concerned with paying off their loans so early? With good consolidation, it may not be so bad to pay them off in 35 years. Yes, you will pay more interest over the life of the repayment, but with rates around 5% (or lower,) why not pay the minimum and keep the difference in other investments? There is much discussion on financial websites about paying off low-rate student loans as slowly as possible. There can be advantages.

You find me a 5% interest rate and I will be interested in getting loans there in this day and age.

Choosing the Right Law School / Re: UT 2L Taking Qs
« on: April 15, 2007, 07:16:14 PM »
I thought of another one!

How does it work when teachers call out a student for the class in Socratic method? Is there any warning? Or could it just happen to you absolutely any day?

I remember hearing at Georgetown that you had a set of 10 or so days where it could be you.

ALSO: How do you know which books are required for your classes ahead of time? Everyone said you save money buying them online. I just wanted to know how people knew which ones to get.

Texas does grants for law students. Ohio probably just does a similar program, especially for in-state students. Are you in-state?

Financial Aid / Re: Please help with lender selection
« on: April 14, 2007, 09:27:08 PM »
And sure enough, I miscalculated.  I misread principal reductions for interest rate reduction.  The new calculation is:

stafford by wachovia
Loan Amount: $20500
Est. Interest over 10 years: $12283
Est. Total Payments: $32783

Therefore, THE is the new winner based on this cacluator's factors.  Anyone find anything better?

THE has always been the best of all the ones I've looked at. It's not one of my school's recommended lenders but I'll be using them anyway. There is something comforting about the fact they are a non-profit too.

Financial Aid / Re: Please help with lender selection
« on: April 14, 2007, 09:26:09 PM »
Don't forget Citibank and Student Loans XPRESS were both involved in loan scandals

Citibank with NYU and Xpress with UT (was it Columbia too?)

Choosing the Right Law School / Re: Seat deposit due date
« on: April 12, 2007, 06:53:43 PM »
Hard to say, but if you are concerned, call the school and give them a heads up.

Financial Aid / Re: Grad Plus vs. private loans
« on: April 10, 2007, 04:43:05 PM »
Just on the regular FICO scale.

Law School Admissions / Re: NYU IILJ or Stanford?
« on: April 09, 2007, 04:09:48 PM »
I would probably have to say NYU. Full ride is HUGE. People need to realize that sometimes.

Choosing the Right Law School / Re: UT 2L Taking Qs
« on: April 09, 2007, 04:05:09 PM »
Do you have any specific apartment recommendations? I am looking for a 1/1 (or 2.1) because I will be living with my wife. I am particularly interested in Far West but anywhere close to UT Shuttle could be considered.

Have you considered renting a 1/1 or 2/1 duplex in Hyde Park or North Campus?  You should be able to get something for about the same price you'd pay in Far West, and you'd be right on a bus line and a lot closer to campus and downtown (decreasing the chance that you'd have to deal with commuter traffic on a regular basis).

Yeah, Far West has a shuttle right next to the apartments I was looking at about every 5-10 minutes. But do you have any specific places in that area I should look at? I just think for me finding specific places based on general areas is not the easiest thing to do...

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