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Messages - John Galt

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bad news is usually only a page....

General Board / Re: Student Loan Cosolidation Questions
« on: March 27, 2008, 10:21:56 AM »
Whomever is running congress by then, the 2012 congress can vote to "lower" the interest to 3.5%, making themselves seeming like heros by "lowering" interest rates again even though then will be at the same rate. Even better, in 2012 thay can vote to "lower" the rate to 5.5%, thereby claiming to vote for a rate cut, even though the rate will really be higher than it was before. This is the type of bull these assclowns think about all day.

General Board / Re: Student Loan Cosolidation Questions
« on: March 27, 2008, 10:04:03 AM »
The rate decreases every year until 2011, when it will be 3.5%, then it jumps back up to 6.8% for 2012where it will stay unless congress changes the rate.   

Congress does this because thay have no balls, so they sunset every bill they write, this way they don't have to vote to repeal it in the future. In essence, they can raise the interest rates in 2012 without having to vote for it. 

General Board / Re: Student Loan Cosolidation Questions
« on: March 27, 2008, 09:49:30 AM »
federal stafford loans will probably still be more beneficial, considering that part is subsidized and the fixed rate offered by the stafford loan is still better than a student with little credit history and a bunch of loans already will get from a private lender.

Private loans MAY be better than a PLUS loan IF the borrower has great credit (or a cosigner with great credit) and can get a good rate, but is suspect in 95% of the cases a PLUS loan would be better than a private loan as well. 

General Board / Re: Student Loan Cosolidation Questions
« on: March 27, 2008, 09:46:05 AM »
I am not sure of the number for sure, but the rates for the first year were 6.8%, I think. Then they get lower over the next 5 years and bottom out at around 3.5%, then go back up to 6.8 in 2012%.

In terms of consolidation, the rate is generally "fixed" as weighted average of all your loans. However, the incentives offered by the lender differ, sometimes greatly. Some lender offer steeper discounts for things like autopay and making x number of on time payments. Some lenders reserve the right to cancel the incentives at their leisure or sell your loan to a lender who does not habe to honor them. I don't want to sound like an infomercial for graduate leverage, but I looked into various lenders and found the deal that they negotiated to be the best.

On a side note, Congress paid for fixed rates (which at the time were lower than the variable rate) by reducing subsidies paid to lenders who write these loans. A side effect to cutting the subsidies (and the turn in the economy)is that private lendeers who offer stafford and private loans (like access group) are less willing to write nonguaranteed private loans, making it harder for students to qualify for a private loan, if needed. To be a Friedmaniac for a moment, if congress had let the rates remain variable and tied to the fed rate, they may be lower than the fixed rate they are set at now.    

General Board / Re: Student Loan Cosolidation Questions
« on: March 27, 2008, 09:24:45 AM »
Stafford loans used to be variable, but when the Dems took over congress they switched them to fixed. Hence, undergrad loans could be locked in a low interest rate, under 2% was the lowest, but recent ones (starting in sept 2006) are fixed rate and are not going to come down.

Variables aren't going to get much lower, the Fed rate is pretty low already. Interest rates are not going down accordingly, however, because lenders have been getting burned on loans (student and home), so they are not lowering rates as low as they did. 

General Board / Re: Student Loan Cosolidation Questions
« on: March 26, 2008, 11:49:31 AM »
I found graduate leverage to be helpful and consolidated through them without a problem. They also offer a private loan consolidation program.

General Board / Where to have dinner
« on: March 13, 2008, 02:25:43 PM »
I have been offered dinner at the following locations: pizza at a friend's house or hambergers at another's. I haven't had pizza in about 3 weeks, and they are ordering from my favorite place, but I do love a good burger too and my in-laws offer a full ride there. I want to work in BigLaw. My stats:

Height: 6'1"
Weight 228 lbs.
Dietary restrictions: None

1L job search / Re: Job offer but pay is low...should I counter?
« on: March 13, 2008, 12:37:23 PM »
So much for non-negotiable.

2L job search / Re: what do i need to do for a SCOTUS clerkship?
« on: February 22, 2008, 10:54:47 AM »
read mr. galt's statement. he's not being serious - he's mocking me.

No he's not.  What part of his statement is mocking you. It's possible to get a federal clerkship from a T4 (very hard, but also very possible).  It's also possible to turn this into a CoA clerkship.  How is he mocking you?  Also, you go to a T2 not a T4.

i guess you're right if T4 and T6 refer to HYSC and HYSCCN. i read him as joking about tier 6. also, the presence of creighton and pepperdine on the list.

I wan't joking about a T6, I was simply saying that it is possible (though difficult) to get a SCOTUS clerkship without going to yale, harvard, stanford... Basically, focus on getting a Fed District Court, State Suprme Court or CoA clerkship and go from there.

And I am 90% sure one of Justice Thomas's clerks went to crighton and one of Justice Alito's went to pepperdine, but the guy who went to pepperdine was his clerk on the CoA (how lucky is he?)

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