Anyone else having second thoughts?

[Tulane1L]

Well, I got into my number one choice (Tulane) and the deposit (at least the first part of it) is in, but now I am having second thoughts about the prospects of taking out over $100,000 in student loans....especially when I could go to a state school and end up less than $40,000 in debt when I graduate....Add a new offer of instate tuition at FSU into the mix, and the fact that I am still waiting on Bama and Houston (umm, wtf Houston, my file has been in review for 2 months now!) and I have no idea what to do.

Anyone having second thoughts about their dream school with killer debts and the possibility of having to take a horrible job upon graduation just to pay it off, verses cheap state schools with decent job prospects?

Eh, this process stresses me out more and more each day....

[queencruella]

You won't have to take a horrible job just to pay it off. The most I've ever made is $35K a year in a very expensive location. If I have a worst-case scenario and have to pay $2K a month back in loans, it's not going to be hard for me to be making $3K more a month to put me at a standard of living that I had before.  You don't need to go into biglaw to make a decent salary- if you come out making $75K, the loans will be very manageable.

[JamesD]

Hey silly!  Whats up with this??  I thought the decision was made in the shade!  Back in the 'undecided' column?

I feel you.  Debt scares me.  Especially that much debt.  Tulane is offerring you some money, right?  Have you thought about writing them a letter, telling them that you really want to go there... and, essentially, asking for more money?  If you want to walk through the options with me and talk it out, you can call me.  Even though talking about it won't help you decide, it might make you feel better.  It's all good. 

I don't even know if I can actually do this law school thing.  I visited Duke this weekend and was incredibly impressed by the faculty/admin/resources... but I was like... dear god... three years in Durham with these people... can I actually do it?  Decisions decisions. 

Here I am at work, slacking off once again...

[azstudent]

Well, I got into my number one choice (Tulane) and the deposit (at least the first part of it) is in, but now I am having second thoughts about the prospects of taking out over $100,000 in student loans....especially when I could go to a state school and end up less than $40,000 in debt when I graduate....Add a new offer of instate tuition at FSU into the mix, and the fact that I am still waiting on Bama and Houston (umm, wtf Houston, my file has been in review for 2 months now!) and I have no idea what to do.

Anyone having second thoughts about their dream school with killer debts and the possibility of having to take a horrible job upon graduation just to pay it off, verses cheap state schools with decent job prospects?

Eh, this process stresses me out more and more each day....

I'd be more worried that my school would survive the enslaught of another hurricane season

[upNdown]

If I have a worst-case scenario and have to pay $2K a month back in loans, it's not going to be hard for me to be making $3K more a month to put me at a standard of living that I had before. 

This is what I'm counting on too.  I think as long as you have this perspective that you're going to be an attorney because thats what you want to do and you don't mind living reasonably, then everything will be fine.  If you want to be an attorney to be rich, or if you'll need a new BMW upon passing the bar, well, then you should probably stress about the debt.

[greengrl]

Glad someone else said it first! I'm kicking myself for not applying to in-state schools. What the HELL was I thinking? Regardless I think I've had a small panic attack every day considering the debt. I don't even have a credit card and all my school loans will be paid off in a year. 100k is a small mortgage!!

I guess it goes with the territory, but admittedly it's a big investment in yourself--let's hope we've all got some nice rates of return

[jubilee27]

No worries... I had my first financial aid breakdown this weekend. And I'm not even going to one of the most expensive on my list. It's scary to think of, but at this point what's $100,000 versus $60,000 or $80,000. Either way, it's an insane amount of money. But if there's one thing you can always hang onto, it's your education.

[queencruella]

If I have a worst-case scenario and have to pay $2K a month back in loans, it's not going to be hard for me to be making $3K more a month to put me at a standard of living that I had before. 

This is what I'm counting on too.  I think as long as you have this perspective that you're going to be an attorney because thats what you want to do and you don't mind living reasonably, then everything will be fine.  If you want to be an attorney to be rich, or if you'll need a new BMW upon passing the bar, well, then you should probably stress about the debt.

That's how I'm thinking. I tried teaching in the US and absolutely hated it to the point where I would wake up feeling ill everyday going to work. To me, not having to do that ever again is worth it, even if I have to live frugally for several years out of LS so I can pay back the debt.

[somniferum]

I completely empathise with your situation.   I had to make a similar (same cheap state school I am assuming  ) decision myself.  I choose the less debt route, but it is a tough choice.


 

[Felsen]

I got rid of all of my second thoughts over the last 5 years as I debated whether or not to continue working or go to law school.  It wasn't till this past year that I finally decided on it.  I then made sure to tell lots of people, to help commit myself (similar to what smokers and drinkers do when they try to quit).

I still have reservations (go to law school versus pay off a house).  I've just gotten myself to the point where it now feels right.

As far as which school, no.  I've not decided yet.  I won't be done with visits until the day I need to put the check in the mail.  With what I've seen and heard so far, I can't make a bad choice.