Law School Discussion

Nine Years of Discussion
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Poll

How much spending / living expenses $$ money will you set aside for first year?

0-10 K
 12 (17.9%)
10-15 K
 30 (44.8%)
15-20 K
 15 (22.4%)
20 K or more
 8 (11.9%)
none of your business !!!
 2 (3%)

Total Members Voted: 67

Author Topic: How much spending / living expenses $$ will you set aside for first year?  (Read 1649 times)

Rule of Reason

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discuss...

(in particular I'm wondering how much I'll be setting aside w/ that gradPLUS loan - which seemed like the best option b/c it can be consolidated with the staffords and the rate is locked in.) I have a little bit in my piggy bank... not that much.

I added that last response b.c obviously this is not something we all speak openly about day... But I'd like to hear what others think about this, seems that most of us will be in the same boat.

sentimentalhygienist

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Are you including rent in this?

Rule of Reason

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yeah;

that's the thing --- I realize everyone's situation is going to be different. Some are at state unis in little towns, others are renting more expensive places in cities, some are living at home...

but I think we're all on a relatively meager budget, whether we have any savings or we're diving straight into loans...

I'm just wondering what's the "norm" is.

JM26

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I am wonderng the same thing. I don't won't to be borrowing too much but I guess it is better to borrow too much then to be broke with bills piling up and no $$. This is 1st time I won't be working in almost 10 yrs and it makes me nervous.

jillibean

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I'll be in Miami- rent costs so much. Alone I'm looking at 15K for the year, if I get a roomate its more like 13K. Still, the school gives you an allowance of about 11K so it's not much.
UMiami c/o 2010

botbot

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My household's living budget will be ~27k with two of us in law school.  This is higher than it needs to be but I like alcohol and she likes stuff.  We are paying very little for tuition though, so that is how we justify it.

P.U.S.H

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I've been trying to figure this out for weeks :P The school I'm favoring right now gave me a pretty good budget, and if I use what I've saved from my job now to set up my apt I'm looking at rent/utilities around $1200 and $500-1K a month to spend. Somehow I'm feeling like that's going to be considerably lower once I'm actually in the situation but seems good to me...

Question: If your school budgets you for a specific amount and you have an amount left over that seems high, would you lower your loans? If not, what do you do with the excess?
Everday I'm HUSL'in

Rule of Reason

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bump

ks2pa

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I've been trying to figure this out for weeks :P The school I'm favoring right now gave me a pretty good budget, and if I use what I've saved from my job now to set up my apt I'm looking at rent/utilities around $1200 and $500-1K a month to spend. Somehow I'm feeling like that's going to be considerably lower once I'm actually in the situation but seems good to me...

Question: If your school budgets you for a specific amount and you have an amount left over that seems high, would you lower your loans? If not, what do you do with the excess?
Pay off interest?

I will be taking out 20k for living expenses.  This is in philly.

mathlete

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~$8-9k if I go to Ithaca
~$12-13k if I go to NYC