Law School Discussion

a momentary lapse of zen (aka Panicking!)

Jolie Was Here

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Re: a momentary lapse of zen (aka Panicking!)
« Reply #70 on: July 21, 2006, 06:46:41 PM »
Oh, you are all ladies after my own heart!  While so many of our colleagues are spending this time studying up and trying to cram in a law preview, I've been dreaming up the perfect organizational system.  My new bible of late is David Allen's "Getting Things Done."  I've been absolutely compulsive about setting up files and the whole rigamarole.

Can we say Giant Flaming Nerd?  

girl, i am so bummed you aren't going to my school.

EDIT: because your posts always make me laugh...

Right back atcha, Mobo!  ;)  I'm seriously thinking that we should start our own handpicked virtual 1L class.

Re: a momentary lapse of zen (aka Panicking!)
« Reply #71 on: July 21, 2006, 07:21:44 PM »
I've been thinking along the same lines that you are, greengirl.  I am doing the studio long-term hotel by myself, while my finance stays with the house.  Not only is it better for the animals, but it will also keep the house from looking empty, which may drive buyers to lower their offer (thinking we are already out and desperate to sell).  The expense of moving twice is also just horrible.  We have a TON of stuff.

I am hoping to get married May 24, 2008 when it won't affect financial aid.  I don't want a husband whose income will count on my financial aid. :)  Romantic, huh?

It's very smart, actually. I have a friend in a situation similar to your worst-case scenario- a house that won't sell and an inability to get loans because the first year's financial aid was calculated on income from when they were both working full-time and he had a job that paid much more. She's actually gotten to the point where she's considered just letting the bank foreclose on the house because she has a grad assistantship and can just squeeze by with her income as long as that mortgage payment isn't there.

Moving onto things more up-to-date in the thread, all of my important papers are in one drawer. I don't have room for a whole filing cabinet, so the drawer does its job nicely. I am not really the organizational system type, but at least I can vaguely recall where important papers are kept. My parents are even worse and they have a big storage closet for all that stuff.

mobo

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Re: a momentary lapse of zen (aka Panicking!)
« Reply #72 on: July 21, 2006, 11:24:26 PM »
mobo, I think someone that is busy busy busy on the surface and on the inside is a whirling dervish. ;)

I'm seriously thinking that we should start our own handpicked virtual 1L class.

i'm in. i mean, who else is going to get why i am annoyed at "flirts with the guys for notes because she spent all class time in IM with her boyfriend" girl, or have had it with "insist on using big words just to sound smart but really have no original thoughts of my own" guy.

personally, i am going for the "she is so cute (ooooh, and SMART) that i want to set her up with my independently wealthy, slightly older best friend" title.

barring that, whirling dervish'll do too. wouldn't be the first time i was called that. :D

Re: a momentary lapse of zen (aka Panicking!)
« Reply #73 on: July 22, 2006, 12:10:57 AM »
mobo, I think someone that is busy busy busy on the surface and on the inside is a whirling dervish. ;)

I'm seriously thinking that we should start our own handpicked virtual 1L class.

i'm in. i mean, who else is going to get why i am annoyed at "flirts with the guys for notes because she spent all class time in IM with her boyfriend" girl, or have had it with "insist on using big words just to sound smart but really have no original thoughts of my own" guy.

personally, i am going for the "she is so cute (ooooh, and SMART) that i want to set her up with my independently wealthy, slightly older best friend" title.

barring that, whirling dervish'll do too. wouldn't be the first time i was called that. :D

and let's not forget "i'm so hung over i'm still drunk-can't you smell me?" guy or "yes, i have a different sorority T-shirt for EVERY day of the week" girl. Or "i'm just too sexy to show up to class on time EVER" guy/girl--you know there will be one--the one person who just can't fathom the idea of being on time to class, but is more than comfortable disrupting class ten minutes in as they take twenty minutes to find a seat, get situated and engage in class ONLY to ask the most inane question that was already covered in the first ten minutes of class that they were just TOO sexy to make it to :)

 

sck

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Re: a momentary lapse of zen (aka Panicking!)
« Reply #74 on: July 22, 2006, 05:48:43 AM »
OK, you guys have me worried about financial aid now, because I'm applying for next year and getting married in March. Of course, that will be AFTER I apply for financial aid, but before I start.

Not that our incomes are much different (he's going to make maybe 2K more a year with the new job). But fortunately dual asset protection helps some too. And teaching has crazy pay differences depending on where you teach.

I'm afraid to buy a house because of the selling thing. I really wanted to buy one this year, and decided not to because I'm afraid I'll lose money if I buy then move far away for school and have to sell.

Re: a momentary lapse of zen (aka Panicking!)
« Reply #75 on: July 22, 2006, 07:05:08 AM »
OK, you guys have me worried about financial aid now, because I'm applying for next year and getting married in March. Of course, that will be AFTER I apply for financial aid, but before I start.

Not that our incomes are much different (he's going to make maybe 2K more a year with the new job). But fortunately dual asset protection helps some too. And teaching has crazy pay differences depending on where you teach.

I'm afraid to buy a house because of the selling thing. I really wanted to buy one this year, and decided not to because I'm afraid I'll lose money if I buy then move far away for school and have to sell.

I wouldn't recommend buying a house for a year. It's definitely not worth the risk, and you probably wouldn't make any profit since the market is slowing down and you'll have a lot of costs associated with buying. As long as you don't buy a house now, you shouldn't have too much to worry about with getting married, but I don't know how much the student budget changes if you are married. At least with teaching, your husband can pick up some extra cash if necessary by teaching summer school or tutoring.

cyberrev

Re: a momentary lapse of zen (aka Panicking!)
« Reply #76 on: July 22, 2006, 07:13:25 AM »
I had my immunization records (in my suitcase, of course, since my panty drawer is for my birth certificate) ;)  but my doctor just did the titers.  Since I have health insurance it didn't cost me anything.

mobo, I think someone that is busy busy busy on the surface and on the inside is a whirling dervish. ;)


what i have been doing for years is throwing *everything* anyone could possibly ever want into a big honking file folder.  passports, driver's license numbers, insurance policies, everything.  if i need it i still have to dig a little, but at least its all in one file.

i'm not getting a passport.  i hate to fly unless i'm the pilot

cesco

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Re: a momentary lapse of zen (aka Panicking!)
« Reply #77 on: July 22, 2006, 08:36:18 AM »
OK, you guys have me worried about financial aid now, because I'm applying for next year and getting married in March. Of course, that will be AFTER I apply for financial aid, but before I start.

Not that our incomes are much different (he's going to make maybe 2K more a year with the new job). But fortunately dual asset protection helps some too. And teaching has crazy pay differences depending on where you teach.

I'm afraid to buy a house because of the selling thing. I really wanted to buy one this year, and decided not to because I'm afraid I'll lose money if I buy then move far away for school and have to sell.


I wouldn't recommend buying a house for a year. It's definitely not worth the risk, and you probably wouldn't make any profit since the market is slowing down and you'll have a lot of costs associated with buying. As long as you don't buy a house now, you shouldn't have too much to worry about with getting married, but I don't know how much the student budget changes if you are married. At least with teaching, your husband can pick up some extra cash if necessary by teaching summer school or tutoring.

SCK - sounds like you already decided to wait on buying the house, but I would second QueenC's advice on staying away from buying a house if it may be short term.  You have to pay a realtors fee of 5-6% just to sell the thing, which would likely wipe out a huge portion of any appreciation you may see.  Plus there is the stress factor as noted by Aerynn -- and by me.  I recently sold my house - but before I did my "first" buyer backed out a week before closing and I had to start all over again. Even though I was still a few months away from starting school I went into major panic/stress mode. 

Why dont you guys just rent cheap for a year, save up as much cash as possible, and then look at settling down for 3 years (or more) where you go to school?  If you can decide where you are going by say, March, you would have about six months for a house hunt and the ability to find something 'just right'.

The other point on buying - it is expensive! I know that sounds like the obvious, but I was really surprised and how much owning a house will nickel and dime you.  $10 for that, $20 for that, $200 for that...  it adds up! 

---------------
As for the joint assets and being married -  I would venture to say that the only real downfall would be the ability to secure grants.  My understanding, however, is that grants are few and far between.  Based on all the posters on this board, as well as some "real life" law students, I think very few people ever see grant offers.  The other part of the financial aid is the Stafford loans - how much the school will offer you in unsubsidized vs. susidized.  I am single, but had a HUGE EFC due to working with a decent salary and some saving/investments.  I was still offered the full amount of Staffords - including the subsidized.  Based on my understanding, the difference in aid is negligable...the only way getting married would affect grant money is if you would have been at $0 EFC and previous student debt prior to getting married. 

DISCLAIMER:  I may very well be wrong, this is just my developed understanding after reading posts and talking to people!

aerynn

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Re: a momentary lapse of zen (aka Panicking!)
« Reply #78 on: July 22, 2006, 09:45:35 AM »
On all the stuff I filled out they asked for my salary and assets and they would have wanted my husband's salary and assets if we were married.  The house is going to be in his name, his personal savings, his salary, etc.  I am old enough to not have to put down my parents' assets, so I just thought it would be better not to have to put down his at all either.  I didn't want to risk the EFC going up.  He makes considerably more money than I do now and certainly more than I will when I am in school.

cesco

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Re: a momentary lapse of zen (aka Panicking!)
« Reply #79 on: July 22, 2006, 09:58:01 AM »
  I didn't want to risk the EFC going up.  He makes considerably more money than I do now and certainly more than I will when I am in school.

Question...what are the consequences if the EFC goes up?  Since you already have some assets and $$ will an EFC of $10,000 vs and EFC of say $50,000  make a difference?

I am asking because this affects me as well - for 2nd year loans.  I have quite a bit of equity from my house along w/other savings/investments - but I still want to take out loans until I figure out what I am doing w/myself.  I believe I could be "punished" by having some money (meaning the school wants me to pay my tuition vs. taking out loans) - so I could potentially gift this money to family members in the short term or buy another property to hide it in the equity. 

HOWEVER - I honestly dont think it will make a difference.  Like I mentioned in my previous post - most students dont get a grant offer  and most schools still "give" you the Stafford loans regardless of EFC.
 
So does the EFC even matter all that much?  I feel like I could be missing something.