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Author Topic: Full price  (Read 1272 times)

DDBY

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Re: Full price
« Reply #10 on: June 07, 2007, 02:56:10 PM »
Yes unless you plan on making less than 50k/year.


i'd bump that up to $70/year.
No, I sell houses aorund $200k to people who make less than 40/yr and they have no where near the return on investment (asset appreciation) that a JD does.  Even if you job sucks in the begining you will always have the potential to break 6 figures.

I don't think too many people make 40k/year while getting their JD, though. And it's not like you can sell the JD if you decide to move (to a different profession).
While getting thier JD? The point is $150K really isn't that much money. It's affordable, and with the Degree you have a high rate of return.  You don't have to sell your JD to get your money out of it (You don't have to sell a house to get money out of it).  With deferred payments what you make while a student is irrelevant.


sarahlina

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Re: Full price
« Reply #11 on: June 07, 2007, 03:02:04 PM »
Am I the only one who thinks $150K is a lot of money and my debt will haunt me for the rest of my life?

Edna St. Vincent Millay

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Re: Full price
« Reply #12 on: June 07, 2007, 03:07:09 PM »
Am I the only one who thinks $150K is a lot of money and my debt will haunt me for the rest of my life?

no. :)

but st. johns and cardozo have very good reputations in NYC. most of the big firms i know of have partners from those schools, and if there's a partner, there's a good chance s/he'll want people from his/her alma mater.

there is extra pressure, though, to be the best at those schools.
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DDBY

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Re: Full price
« Reply #13 on: June 07, 2007, 03:07:24 PM »
Yes unless you plan on making less than 50k/year.


i'd bump that up to $70/year.
No, I sell houses aorund $200k to people who make less than 40/yr and they have no where near the return on investment (asset appreciation) that a JD does.  Even if you job sucks in the begining you will always have the potential to break 6 figures.

I don't think too many people make 40k/year while getting their JD, though. And it's not like you can sell the JD if you decide to move (to a different profession).
While getting thier JD? The point is $150K really isn't that much money. It's affordable, and with the Degree you have a high rate of return.  You don't have to sell your JD to get your money out of it (You don't have to sell a house to get money out of it).  With deferred payments what you make while a student is irrelevant.



My point is that home loans are a different beast altogether. The student loan is only the beginning. The opportunity cost of 3 years out of the work-force and the lack of free time aren't present in the mortgage.
I don't know enough about the OP to calculate opportunity cost.  I sure that 50+ years as an attorney will more than make up for that.  In terms of the note.  Just the package is different, a note is a note is a note.  All investments work the same way based on "Time value of money" calculations.


DDBY

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Re: Full price
« Reply #14 on: June 07, 2007, 03:08:48 PM »
Am I the only one who thinks $150K is a lot of money and my debt will haunt me for the rest of my life?

no. :)

but st. johns and cardozo have very good reputations in NYC. most of the big firms i know of have partners from those schools, and if there's a partner, there's a good chance s/he'll want people from his/her alma mater.

there is extra pressure, though, to be the best at those schools.
That's the other variable. Where you want to work, and regional reputation.

DDBY

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Re: Full price
« Reply #15 on: June 07, 2007, 03:10:52 PM »
Am I the only one who thinks $150K is a lot of money and my debt will haunt me for the rest of my life?
LOL - Justice Clarence Thomas still had student loan debt when he took the bench.  It really depends on the individual.  How do you handle your money?

john jacob

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Re: Full price
« Reply #16 on: June 07, 2007, 03:12:04 PM »
dolla, where are you going for law school?

DDBY

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Re: Full price
« Reply #17 on: June 07, 2007, 03:12:16 PM »
I don't know enough about the OP to calculate opportunity cost.  I sure that 50+ years as an attorney will more than make up for that.  In terms of the note.  Just the package is different, a note is a note is a note.  All investments work the same way based on "Time value of money" calculations.

You gotta see the forest for the trees. Telling someone not to worry about 150k in debt if they can make 50k after LS could be misleading.
Yea, I agree.  The OP could also fall flat on her face and end up living in the streets.  Life's interesting isn't it?

DDBY

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Re: Full price
« Reply #18 on: June 07, 2007, 03:13:22 PM »
dolla, where are you going for law school?
Penn State Dickinson

sarahlina

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Re: Full price
« Reply #19 on: June 07, 2007, 03:25:59 PM »
I handle my money fine, as long as I'm working with an income  ;).

I plan on working for the gov't so a starting salary around $50K sounds just about right.