Law School Discussion

Nine Years of Discussion
;

Poll

How much will your TOTAL student loan debt (undergrad, law, other) be after you finish law school?

$0 - Debt Free!
 3 (6.5%)
$1 - $5000
 0 (0%)
$5001 - $9999
 0 (0%)
$10,000 - $24,999
 1 (2.2%)
$25,000 - $49,999
 5 (10.9%)
$50,000 - $99,999
 15 (32.6%)
$100,000 - $149,999
 16 (34.8%)
$150,000 - $199,999
 4 (8.7%)
$200,000 - $249,999
 1 (2.2%)
$250,000 - $299,999
 1 (2.2%)
$300,000 - $349,999
 0 (0%)
$350,000 - $399,999
 0 (0%)
$400,000 - $499,999
 0 (0%)
$500,000 +
 0 (0%)

Total Members Voted: 41

Author Topic: After Law School My Student Loan Debt Will Be...  (Read 1359 times)

Tiwaz

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Re: After Law School My Student Loan Debt Will Be...
« Reply #10 on: May 03, 2006, 01:39:27 PM »
But there is a part two to this discussion that I have brought up in other threads. That is that you may very well land the 145k job (and maybe in 3 years it will be at 165k, who knows) but what if you absolutely hate it? You will be chained to your desk for 3-4 years even if you are highly disciplined, if you want to pay off your loans and do something more fulfilling that maybe pays less.

You're very right to bring this up, and I fear I'm still mostly in denial about the sort of hours I'll have to work for at least the first few years out of school.  I think those years are just sort of the price of admission, though.  You pay your dues, pay off the debt, then go do something you enjoy.  (If you happen to enjoy the high stress and long hours of big firm work, so much the better.  Have fun being rich. :) )

I tend to think you can handle anything for a limited amount of time.  There's always that light at the end of the tunnel.  (Of course, I'm just speaking for myself here.  The chained-to-one's-desk lifestyle isn't as feasible for a person with family commitments, for example.)  I'm trying to minimize the risks of absolutely hating my work, though-- one of the big benefits of NYU, in my mind, is the fabulous LRAP.  Big law would be the easiest way to pay off my loans, but at least I won't feel forced into it if I try it for a summer and loathe it.

Happy_Weasel

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Re: After Law School My Student Loan Debt Will Be...
« Reply #11 on: May 03, 2006, 04:47:10 PM »
I am guessing I will have a debt around 25 to 30 K. Hey, if my career sinks, I can take a 40K job in order to start paying my loans and prep for the MCAT.

Tiwaz

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Re: After Law School My Student Loan Debt Will Be...
« Reply #12 on: May 03, 2006, 05:29:18 PM »
I think all of us should probably consider an MCAT prep course during law school. This will give us a head start in case that firm job doesn't materialize by the end of 3L.

Hahahaha.... no.

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