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Author Topic: Do you or anybody you know live like a king during law school?  (Read 565 times)

barond

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I was just thinking about this the other day.  Couldn't someone who has never had a good income just go to law school and borrow (via federal loans and graduate plus)- a ton of money and live fat?  Get a new car, get a luxury apartment, eat steak and shrimp every day, etc.   You  could especially do this if you are at a cheap school (under 20k a year) or have a large scholarship.  The terms of repayment are such that a reasonable person could comfortably live well arising out of money obtained from borrowing.

This past year I borrowed less than my cost of attendance and am wondering if I was stupid to do so.

nealric

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Re: Do you or anybody you know live like a king during law school?
« Reply #1 on: August 03, 2010, 01:27:51 PM »
No way you could afford a new car, luxury apartment, and eat out all the time on the ~20k a year most schools budget for living expenses.

Even if you could, it's a terrible idea. The magic fairy doesn't pay those loans off for you- and most law graduates are going to struggle mightily for employment at the beginning.
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'blueskies

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Re: Do you or anybody you know live like a king during law school?
« Reply #2 on: August 03, 2010, 03:40:36 PM »
A guy in my apartment complex has two cars already and just bought a new mercedes. I have no idea if he lives on loans though, or if he has money from working between college and law school. However for him to live like a king, he'll need to be in a nicer apartment complex
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