tag:blogger.com,1999:blog-5618663158161665199.post3745061554466043805..comments2024-01-09T21:43:06.916-05:00Comments on Esq. Never: But I Have a Law Degree!Esq. Neverhttp://www.blogger.com/profile/18248019550876835145noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-5618663158161665199.post-29499196599206852612010-03-13T04:27:50.801-05:002010-03-13T04:27:50.801-05:00I really feel this pain. Really. My husband and I ...I really feel this pain. Really. My husband and I (well, just me) got pregnant during school (he was in law school and I'm working on a PhD), which really turned up the heat, especially for him. Despite having graduated cum laude in May 09 and having solid corporate work experience before that, he's not finding a legal job. I don't have time for full personal disclosure here but I wanted to let you know about IBR program - the Income Based Repayment program for federal student loans. <br />It basically caps your student loan payments to 15% (or 10?) of your "discretionary" income. I'm not sure how they figure it but once the Dept of Ed processed our application, my husband's monthly student loan payments dropped from $900/mo to $30/mo. Seriously. Best of all it doesn't extend the payback period. After 25 years of payments (10 if you work in the non-profit/gov sector) your remaining loan debt is forgiven. (Here is the link: http://studentaid.ed.gov/PORTALSWebApp/students/english/IBRPlan.jsp). On a related note, I remember hearing Michelle Obama during the campaign saying that the two of them had only paid of their student loans a few years ago, and that was only because of Barack's book! At least we are in good company. Good luck to all.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5618663158161665199.post-62052905443582476292010-02-07T13:27:04.345-05:002010-02-07T13:27:04.345-05:00I did everything right as well. I have a BA and JD...I did everything right as well. I have a BA and JD both from Top 25 schools. Everyone told me I'd end up more successful than the "losers" who had bad grades in high school and went to less prestigious colleges. WRONG. Some of these folks got married, had kids, bought a house, and worked up the career ladder while I was wasting time and money in law school. Now I'm home with my parents trying to start the life they started three years earlier.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5618663158161665199.post-82705785657370555712010-01-05T11:17:55.097-05:002010-01-05T11:17:55.097-05:00Great blog - I landed here this morning and haven&...Great blog - I landed here this morning and haven't left. As a sort-of economist, I especially liked the recent post on the economics of federal student loans. Here is my response to this post (I need to vent):<br /><br />Despite landing a good job with a decent salary after receiving my MA, I find myself barely able to meet my husband's and my expenses for our 1-bedroom apartment in the 'burbs in the HCOL metro area where we live (we live here because there is "more opportunity" here). This lack of cash flow is because of my graduate school loan payments. Of course, my husband's law school loans are currently in forebearance because he is unemployed. <br /><br />My officemate, aged 55, ignorantly suggested last week that my New Year's resolution should be to save up a downpayment for a house by October 2010. HA! I can barely support us on my income, and I don't think I was very polite when I told him flatly that we don't plan on buying for at least 7 years.<br /><br />Meanwhile, my husband and I have been together for over 7 years and would like to start a family soon. However, my eggs will be dried up by the time we can afford to if my husband doesn't find a job fairly soon.<br /><br />Our friends back home in Michigan (yes, Michigan of all places), though? They're doing fine. One of my friends, a single mom, owns a lovely 3-bedroom home near Lake Michigan and has been working a good job since before she even received her BA.<br /><br />But my husband has a law degree.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5618663158161665199.post-21152103617654464992009-11-30T17:17:57.395-05:002009-11-30T17:17:57.395-05:00I knew a couple guys in high school. They were bro...I knew a couple guys in high school. They were brothers actually. Total stoners and slackers. They did manage to graduate high school (barely). I don't think they even went to college.<br /><br />They got into construction, eventually learning a trade. They own their own businesses now. They have houses and families.<br /><br />But I have a law degree!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5618663158161665199.post-21803824331928254242009-11-19T00:12:38.969-05:002009-11-19T00:12:38.969-05:00Angel, I certainly wish you could have warned me b...Angel, I certainly wish you could have warned me before hand as well. I'd see if my parents would let you move in, but I don't want to deprive you of living in NYC with all of the wonderful No Fault/PI chop shops and document review projects. :)Esq. Neverhttps://www.blogger.com/profile/18248019550876835145noreply@blogger.comtag:blogger.com,1999:blog-5618663158161665199.post-55934798019498064452009-11-18T23:43:52.893-05:002009-11-18T23:43:52.893-05:00I live in my sister-in-law's basement. Whee! ...I live in my sister-in-law's basement. Whee! Law school was such a great investment, right?!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5618663158161665199.post-22589367495069049422009-11-18T22:49:11.400-05:002009-11-18T22:49:11.400-05:00Thanks for the shout out! I wish I knew you befor...Thanks for the shout out! I wish I knew you before you decided to go. At least you're in good company. I can't lend you a coup of bucks because I'm unemployed and I went to a Tier One law school. Can you ask your parents if they can give me a few dollars or a couch to sleep on?Angelhttps://www.blogger.com/profile/07820446523257638689noreply@blogger.comtag:blogger.com,1999:blog-5618663158161665199.post-66607855151756392402009-11-18T19:48:13.837-05:002009-11-18T19:48:13.837-05:00Hilarious post! I can see that you vividly rememb...Hilarious post! I can see that you vividly remember your first-year professors and dean telling you during orientation, "You can do anything with a law degree."<br /><br />When I think of that day, I want to scream into a pillowcase. Gawd! What a terrible decision this was.<br /><br />My wife has mentioned to me how she knows plenty of people with no education who have owned nice homes since they were 22 or 23. Many of these same people can afford insurance, some nice toys, and they seem to be happy with their lot in life.Third Tier Realityhttp://thirdtierreality.blogspot.comnoreply@blogger.com