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ITT: predict how MAF earl will be when i post my student loan
Poast new message in this thread
Date: July 6th, 2014 3:31 PM Author: sepia 180 school cafeteria account info. I'll post a screenshot after a few replies (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25880182) |
Date: July 6th, 2014 3:37 PM Author: Razzle-dazzle Ape (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25880210) |
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Date: July 6th, 2014 3:37 PM Author: Costumed Ivory Stage Twinkling Uncleanness very (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25880211) |
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Date: July 6th, 2014 3:37 PM Author: Fluffy Really Tough Guy Laser Beams (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25880212) |
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Date: July 6th, 2014 3:39 PM Author: Marvelous frisky pocket flask mental disorder I work at a public interest place. Lady from HR recently came over to my office and was like "we wanted to ensure that all of our employees knew about PAYE and other federal loan forgiveness programs"
I chuckled, b/c I knew all about these things because XO |
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Date: July 6th, 2014 3:59 PM Author: sepia 180 school cafeteria oh trust me this will be good. I predict a MAF earl.
edit: meant to respond to TNSJTP but i'll just leave it here. |
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Date: July 6th, 2014 4:26 PM Author: Bossy step-uncle's house water buffalo 180 (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25880464) |
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Date: July 6th, 2014 4:23 PM Author: sepia 180 school cafeteria (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25880452) |
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Date: July 6th, 2014 5:35 PM Author: bateful painfully honest brethren garrison Poast (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25880836) |
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Date: July 6th, 2014 5:37 PM Author: Soul-stirring halford I hoap he's taken his heart pills before he clicks TT (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25880850) |
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Date: July 6th, 2014 5:37 PM Author: Irradiated locus ladyboy yes clearly you should be fucked for life because you were dumb enough to go to a good law school and actually do well there before heading on to the public sector (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25880857) |
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Date: July 6th, 2014 8:58 PM Author: Ultramarine angry potus range untenable position (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881873) |
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Date: July 6th, 2014 5:51 PM Author: sepia 180 school cafeteria I'm slightly disappointed he hasn't come here yet, but here we go: (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25880943) |
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Date: July 6th, 2014 5:53 PM Author: aromatic big-titted persian Doesn't that just mean you make like 40k? Or is the school picking up some of that? (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25880955) |
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Date: July 6th, 2014 5:55 PM Author: sepia 180 school cafeteria my taxable income for 2014 will be around 35K. The amount I'm paying now is based off my 2012 taxable income. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25880963) |
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Date: July 6th, 2014 6:11 PM Author: Godawful lodge This country is fucked. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881059) |
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Date: July 6th, 2014 6:13 PM Author: sepia 180 school cafeteria every time I think about this, I realize how insanely fucked up it is.
which is why I never think about it in the first place. |
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Date: July 6th, 2014 6:16 PM Author: Godawful lodge lol, $1200 dollars a year towards $255k? I am IRATE right now brother. I probably take home about as much as you after taxes and loans, and I am a big lawyer.
Even on 60k a year you should at a minimum be forced to pay 1,000 a month, ten times what you're paying now. |
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Date: July 6th, 2014 6:19 PM Author: sepia 180 school cafeteria I calculated it out when I first started working, and my takehome was about what it would have been if I was working NYC biglaw. The disparity got even bigger when I factored in COL differences.
I agree that my payments can and should be higher. |
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Date: July 6th, 2014 6:21 PM Author: Godawful lodge I'm not mad at you for taking advantage of this. I'm mad that this exists to be taken advantage of. I mean JFC only paying 1,200 a year even though you make 60k? Who the fuck thinks this is a good idea. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881098) |
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Date: July 6th, 2014 6:28 PM Author: sepia 180 school cafeteria yeah at some point i think the gravy train is going to come to an end. I'm not sure how bad the budgetary impact is right now but certainly it's going to get worse.
you already see the white house wanted to end the full public service loan forgiveness, and I'm sure more shit will hit the fan (especially if we get a republican president) |
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Date: July 6th, 2014 6:12 PM Author: Umber drunken fortuitous meteor 180!! (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881064) |
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Date: July 6th, 2014 6:19 PM Author: sepia 180 school cafeteria please ESTIMATE the number of blood vessels about to pop on earl's forehead (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881090) |
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Date: July 6th, 2014 6:22 PM Author: Umber drunken fortuitous meteor 255,970 (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881103) |
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Date: July 6th, 2014 6:23 PM Author: sepia 180 school cafeteria tyft (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881106) |
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Date: July 7th, 2014 2:47 PM Author: Fantasy-prone Alcoholic Affirmative Action Chad (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25885986) |
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Date: April 5th, 2015 6:40 PM Author: Impressive Base (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#27626182) |
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Date: September 28th, 2018 6:06 PM Author: drab state roommate (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#36917392) |
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Date: July 6th, 2014 6:14 PM Author: iridescent meetinghouse idiot wow (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881070) |
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Date: July 6th, 2014 6:14 PM Author: Costumed Ivory Stage Twinkling Uncleanness lol wtf. i never read the PAYE threads, how does this shit work? (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881071) |
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Date: July 6th, 2014 8:59 PM Author: Ultramarine angry potus range put hand out get handout |
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Date: July 7th, 2014 2:41 PM Author: Sapphire Vivacious Striped Hyena Windowlicker (maf boomer copping mortgage deduction) (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25885958) |
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Date: July 7th, 2014 3:21 PM Author: Ultramarine angry potus range taking advantage of bullshit fiscal policy =/= to supporting it (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886162) |
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Date: July 6th, 2014 6:20 PM Author: soggy citrine degenerate dopamine lol 180 brother, i'm sure he's upset. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881095) |
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Date: July 6th, 2014 6:32 PM Author: razzmatazz deep kitchen Jesus. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881158) |
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Date: July 7th, 2014 3:09 PM Author: Bearded Transparent Theater Stage Sandwich LJL. How MAD will earl be when he realizes that you are on IBR, and therefore paying 50% MOAR than a similarly-situated PAYE bro? (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886090) |
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Date: July 7th, 2014 3:33 PM Author: Fragrant claret queen of the night one eighty. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886234) |
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Date: July 7th, 2014 3:37 PM Author: Mahogany insanely creepy office You're not even going to be covering interest for the year. That shit is going to balloon even further out of control really quickly. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886252) |
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Date: July 7th, 2014 3:41 PM Author: Sapphire Vivacious Striped Hyena Windowlicker PAYE caps capitalization at 10% of principal (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886280) |
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Date: July 7th, 2014 4:59 PM Author: Mahogany insanely creepy office Seriously? Fuck I'm pissed even more that PAYE's not an option for me. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886731) |
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Date: July 6th, 2014 5:53 PM Author: Hateful amber theatre prole (Guy that will be POOR AS FUCK for the rest of his days) (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25880957) |
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Date: July 6th, 2014 6:10 PM Author: sepia 180 school cafeteria this is basically true (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881055) |
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Date: July 6th, 2014 6:25 PM Author: galvanic parlor Do you have to stay in public service for 10 years?
What happens if you leave and start making more?
How does this affect your credit for things like mortgages? |
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Date: July 6th, 2014 6:26 PM Author: sepia 180 school cafeteria no, you can stay on IBR or PAYE even after leaving public service. leaving public service would, however, affect the 10 year forgiveness.
if I leave and start making more then my payments will go up to meet that amount.
credit is completely intact. credit report shows on time payments since I'm paying according to the plan set out by the creditor |
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Date: July 6th, 2014 6:29 PM Author: galvanic parlor Would I be an idiot for living a poverty-level existence for two years in New York while doing Biglaw to pay off 120k debt? (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881144) |
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Date: July 6th, 2014 6:31 PM Author: Umber drunken fortuitous meteor Yes.
Even if you end up losing money in the long run, you are a retard if you think at 50 you would rather have the extra 50k than enjoying yourself while young. |
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Date: July 6th, 2014 6:31 PM Author: sepia 180 school cafeteria absolutely not. that's exactly the way I would have gone if I were in NYC. 120K debt is doable to pay off. Maybe only live like a miser for a year, though, and hold onto the rest of the debt longer if you really care about it.
other poster does have a point to live it up when you're young in NYC though. how old are you? |
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Date: July 6th, 2014 6:33 PM Author: aromatic big-titted persian If you have 120k debt pay it off.
I have full freight and am in big law and am IBR-ing. Payments are 1500 now but should go down once PAYE for all kicks in. |
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Date: July 6th, 2014 6:34 PM Author: galvanic parlor Assume I'm retarded with respect to financial matters. At what point does it make sense to pay it off vs do IBR/PAYE? (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881170) |
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Date: July 6th, 2014 6:37 PM Author: sepia 180 school cafeteria it doesn't make sense at all for you to do IBR/PAYE, not at that level of debt and your income. just pay it off. If you're really worried about having money saved, or that you'll be laid off, just build some savings as well. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881182) |
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Date: July 6th, 2014 6:38 PM Author: galvanic parlor What if I have a clerkship for 2016 and plan on going into public sector after that? (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881188) |
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Date: July 6th, 2014 6:40 PM Author: aromatic big-titted persian Then PAYE/IBR.
My feelings are that if you make the minimum payments and save the difference, you're really only losing the differential in your interest rate vs your rate of return.
If you end up being a 60k prosecuter for 8 years, you'll save a shitton of money. |
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Date: July 6th, 2014 6:41 PM Author: sepia 180 school cafeteria I'd lean toward paying most of it off still, leaving around 50K or so of debt and saving the money i would have used to pay off the rest of the debt.
1. you don't know if you're actually going to get a public service job
2. public service loan forgiveness could very well get gutted in the near future
but I'm highly risk averse in that regard... if you're dead-set on public service regardless then save the money instead of paying any of it off. |
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Date: July 6th, 2014 6:39 PM Author: aromatic big-titted persian It depends on a number of factors. If you google you can find a calculator.
For me personally, I like IBR/PAYE because I never have to worry about my loans. I essentially don't have debt, I just have a 20 year 8% tax on my income.
If you know you're always going to make $150k +, youre likely dumb to do IBR. If you feel like the world could collapse tomorrow and you could be working at Best Buy then they make you breathe much easier. |
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Date: July 6th, 2014 6:27 PM Author: Lime business firm Guy bragging on bort full of jr. partners and senior associates about his $60k salary. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881130) |
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Date: July 6th, 2014 6:28 PM Author: Soul-stirring halford Jr partners. Tyft. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881135) |
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Date: July 6th, 2014 6:31 PM Author: Umber drunken fortuitous meteor (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881157) |
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Date: July 7th, 2014 12:43 PM Author: Ruby trip police squad (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25885252) |
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Date: September 28th, 2018 6:06 PM Author: Slippery associate indian lodge (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#36917390) |
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Date: September 28th, 2018 6:09 PM Author: sepia 180 school cafeteria juniors partner (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#36917402) |
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Date: July 6th, 2014 6:30 PM Author: sepia 180 school cafeteria not bragging at all man. I'm salaryfucked for life (potentially).
earl (and you) will earn more, have greater wealth, etc, then I ever will. I just like seeing him get irrationally upset at shit like this, after he humblebrags about his net worth and salary. |
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Date: July 6th, 2014 6:33 PM Author: cowardly theater volcanic crater he's not getting irrationally upset. for those of us who pay 6 figures in taxes, it's upsetting to see our dollars be used so poorly (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881164) |
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Date: July 6th, 2014 6:36 PM Author: sepia 180 school cafeteria tbf this is a drop in the bucket - there are far greater things in the budget to be upset about.
nevertheless, a fair point, as I'm sure I'd feel the exact same way if I had gone into biglaw. |
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Date: July 6th, 2014 7:10 PM Author: cowardly theater volcanic crater your first point is not a point. in fact whenever someone says this, its because there are no real points to make in defense (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881312) |
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Date: July 6th, 2014 9:01 PM Author: Ultramarine angry potus range in many ways, paye recipients are worse than any ghetto welfare recipient (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881900) |
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Date: July 6th, 2014 9:07 PM Author: sepia 180 school cafeteria please explain. I can't wait to hear this sealclubber logic. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881954) |
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Date: July 7th, 2014 2:39 PM Author: Ultramarine angry potus range not all welfare recipients are responsible for their circumstances; pretty much all paye recipients are not all welfare recipients are capable of working; pretty much all paye recipients are ghetto welfare recipients know what they are; paye recipients act like they aren't a bullshit suck on the nation's wealth paye recipients can receive far more actual dollar benefit than welfare recipients both overall and on a yearly basis paye recipients don't have the negative attitudes directed at them so they don't have any shame. in fact, individuals who look at welfare recipients with negative attitudes should look upon paye recipients with at least the same level of negativity paye recipients-invariably-will believe they are too good to live in the ghetto despite being no better than welfare recipients in most comparative ways and worse than them in other ways |
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Date: July 6th, 2014 9:10 PM Author: bateful painfully honest brethren garrison rofl (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881968) |
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Date: July 6th, 2014 6:41 PM Author: bateful painfully honest brethren garrison lol oh no your precious tax dollars (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881199) |
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Date: July 6th, 2014 7:10 PM Author: cowardly theater volcanic crater ya thats money out of my pocket. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881307) |
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Date: July 6th, 2014 6:42 PM Author: aromatic big-titted persian I've posted this before, but the problems aren't with sarc. The problems are that we don't get to deduct law school as a business expense so our taxes are completely out of whack to begin with, and that law schools are run by criminals.
Take out your anger on the IRS and law school profs and admins. |
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Date: July 6th, 2014 7:09 PM Author: cowardly theater volcanic crater I mean yes if you can take advantage of it, do it, but that doesnt mean the whole thing is not fucked up and for those of us actually footing the bill its highly upsetting. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881303) |
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Date: July 6th, 2014 9:02 PM Author: Ultramarine angry potus range do any grad schools let you deduct as a business expense? (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881906) |
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Date: July 7th, 2014 12:49 PM Author: Yapping pearly space preventive strike some people try to deduct their MBA:
http://poetsandquants.com/2014/01/04/is-your-mba-tax-deductible/
JD i think is a no-go |
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Date: July 7th, 2014 3:16 PM Author: Bearded Transparent Theater Stage Sandwich CR.
I'm not a tax law or tax policy master man, and probably too stupid to understand business taxation. Still, it seems conceptually retarded that entrepreneurs who use loans to fund their businesses, but end up getting burnt due to downturns in the economy are not forced to live in perpetual wage slavery, and face no shame for their risk-taking.
Why should lawyers who took out loans to fund their educations, but got burnt by the shitty economy be treated any differently? |
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Date: July 7th, 2014 3:20 PM Author: primrose vigorous menage if law school loans were dischargeable, they would be at 15%.
Or shit schools would get charged higher interest rates.
This may be fine, but TTT's would get destroyed. |
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Date: July 7th, 2014 3:28 PM Author: Bearded Transparent Theater Stage Sandwich Shit schools should be charged at higher interest rates, and TTTs SHOULD be destroyed.
But there are plenty of bro's who followed the formerly-credited advice of going to a good law school and doing well there, but still got fucked due to market conditions outside of their control.
Maybe that's just one of life's risks, but there is a safety-valve to such risks in other contexts - why not this one?
Also, there is another way of looking at this:
Many recent law school grads had a choice of taking out relatively low-rate private loans, but opted for federal loans due to the IBR safety-net offered through federal loans. This was essentially part of the deal, and a major reason why people took higher-rate federal loans. So why do you hate on those who are now forced to rely on that IBR safety net, which was part of the deal they and the government agreed to at the beginning? |
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Date: July 7th, 2014 3:30 PM Author: primrose vigorous menage Did you go to HYSCCN? If not then you deserve a 15% interest rate.
Any school where you dont have a 70%+ chance at biglaw should have a 12%+ interest rate. |
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Date: July 7th, 2014 3:39 PM Author: odious selfie absurd N trolling (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886267) |
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Date: July 11th, 2014 8:01 PM Author: Cracking awkward senate (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25913224) |
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Date: July 7th, 2014 3:35 PM Author: Lascivious therapy "if law school loans were dischargeable, they would be at 15%."
But historical evidence shows otherwise.
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Date: July 7th, 2014 3:38 PM Author: primrose vigorous menage just do $250,000 in unsecured loans to a 21 year old going to Cardozo who "may be interested in international law, but a JD is a great overall degree no matter what..." at 4%. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886261) |
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Date: July 7th, 2014 3:43 PM Author: Bearded Transparent Theater Stage Sandwich To be fair, olds in your generational cohort got unsecured loans that they consolidated at sub-2% rates, even after going to Cardozo and ending up in shitlaw. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886291) |
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Date: July 7th, 2014 3:58 PM Author: primrose vigorous menage those were not dischargeable. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886369) |
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Date: July 7th, 2014 4:03 PM Author: Bearded Transparent Theater Stage Sandwich When did you graduate breh? (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886412) |
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Date: July 7th, 2014 5:19 PM Author: sepia 180 school cafeteria Remind me again what your interest rate is? (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886884) |
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Date: July 7th, 2014 9:06 PM Author: sepia 180 school cafeteria pls respond (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25888006) |
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Date: July 7th, 2014 3:26 PM Author: Ultramarine angry potus range i wish they were, but there are distinctions the main one being an entrepreneur can lose what was borrowed against, a person obtaining a degree cannot |
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Date: July 7th, 2014 3:32 PM Author: Fantasy-prone Alcoholic Affirmative Action Chad cr sarc will always have his jd to open doors |
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Date: July 7th, 2014 3:46 PM Author: Bearded Transparent Theater Stage Sandwich This is a pretty nonsensical distinction, as many mortgage investors discovered in 2008-2009. Assets disappear or go underwater, as did the value of law degrees over the past half-decade. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886310) |
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Date: July 7th, 2014 3:54 PM Author: Ultramarine angry potus range uh, you can take back entrepeneurs' security on loans you can take back real property securing debt you can, uh, do jack shit about someone having a law degree if you loaned them the money to obtain it
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Date: July 7th, 2014 4:10 PM Author: Bearded Transparent Theater Stage Sandwich I understand the concept of security, breh, but creditors often get burnt in business bankruptcy because assets are either not valued correctly, lose value, or are otherwise destroyed or depleted.
Just because lenders have a security interest in some asset does not mean that they will actually get anything resembling the fair market value of that asset, or for that matter, anything at all. Plenty of lenders got literally nothing by foreclosing on real property that had gone underwater in the recent mortgage crisis. Even more got literally nothing when asset-backed securities collapsed. |
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Date: July 7th, 2014 4:13 PM Author: Ultramarine angry potus range not get anything at all? bullshit. they get the underlying asset. wtf are you talking about? are you talking about secondary mortgages? (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886474) |
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Date: July 6th, 2014 6:42 PM Author: Bossy step-uncle's house water buffalo lol reptiles (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881207) |
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Date: July 6th, 2014 7:13 PM Author: Soul-stirring halford The real problem with earl is that he is a hypocritical faggot who took advantage of a program that allowed him to consolidate at a super low interest rate. He laughed a faggots who got screwed when that ladder was pulled up and now he bitches when people take advantage of a new sweet handout. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881322) |
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Date: July 6th, 2014 7:14 PM Author: cowardly theater volcanic crater lol whats gay. Debt loads made me pick a different school so im MAF I had to settle on a school while those who went to expensive schools get their debt forgiven (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881331) |
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Date: July 6th, 2014 7:17 PM Author: Soul-stirring halford Don't get me wrong, I hate subsidizing this shit too. The whole system is fucked, but Earl is just a shiteating boomer who should be gassed. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881344) |
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Date: July 6th, 2014 7:19 PM Author: bateful painfully honest brethren garrison After 20-25 years of 10-15 percent of their income bro
Most people will pay back their loans well before they are forgiven. These plans just make payment manageable. |
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Date: July 6th, 2014 7:37 PM Author: sepia 180 school cafeteria is this actually true? I'd be curious to see the numbers, especially for those who are 150K+ in the hole.
what's the payment schedule for most student loans? 30 yrs?
edit: I'll grant that for most people, who aren't six figures into debt, they probably end up paying off their loans even on IBR/PAYE. |
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Date: July 6th, 2014 9:10 PM Author: bateful painfully honest brethren garrison yeah probably not the extreme cases and definitely not the interest but the average law school debt is around 100k. 20 years of paying 10 percent of a 60k salary should cover the principal. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881967) |
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Date: July 6th, 2014 9:26 PM Author: sepia 180 school cafeteria yeah fair enough - I was thinking mostly of people in my boat and figuring you were way off. something like 95% of all borrowers have less than six figures, though, so your point stands. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25882078) |
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Date: July 6th, 2014 7:38 PM Author: sepia 180 school cafeteria this. his hatred of IBR/PAYE is such bullshit considering his 1.75% interest rate. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881459) |
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Date: July 7th, 2014 3:18 PM Author: Bearded Transparent Theater Stage Sandwich And his graduation into a healthy market that could actually employ him, as opposed to the cesspool in which the rest of us are trying to scrounge a living. (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886133) |
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Date: July 6th, 2014 6:41 PM Author: bateful painfully honest brethren garrison 180
you have a lot of debt bro |
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Date: July 6th, 2014 9:11 PM Author: Wild chapel how much interest do u rack up per month? how long until your debt is north of half a mil? (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881975) |
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Date: July 6th, 2014 9:11 PM Author: Puce Provocative French Chef hey man why don't you bounce on my cock for a change? (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881982) |
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Date: July 6th, 2014 9:12 PM Author: Wild chapel i thought that was steez's job (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881985) |
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Date: July 6th, 2014 9:13 PM Author: Puce Provocative French Chef ? never heard of DP? (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25881990) |
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Date: July 6th, 2014 9:25 PM Author: sepia 180 school cafeteria loans are just below 8%, so I'm racking up about 20K in interest a year. As you can tell, I'm making a hefty 1K dent in that interest every twelve months.
I won't ever get to half a million (public service loan forgiveness willing) but it looks like I'll pass 350K easily. |
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Date: July 6th, 2014 9:29 PM Author: Costumed Ivory Stage Twinkling Uncleanness lol (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25882107) |
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Date: July 6th, 2014 9:31 PM Author: sepia 180 school cafeteria this is no laughing matter im UTTERLY SERIOUS HERE
but lol, just lol at our country |
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Date: July 6th, 2014 9:33 PM Author: Shimmering geriatric coffee pot Worried about tax bomb? Its going to destroy your retirement savings. At least tax will be limited to your assets (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25882130) |
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Date: July 6th, 2014 9:36 PM Author: sepia 180 school cafeteria not exactly worried about the tax bomb, since it's been fixed for PSLF. worried that PSLF will be gutted, though, which is probably almost a certainty at this point.
so yeah, I guess in a roundabout way, I am. |
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Date: July 7th, 2014 2:56 PM Author: nofapping snowy dingle berry How the fuck do you sleep at night with a quarter-million in 8% loans that you're only paying $1k a year on (most probably toward interest, at that)? (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886036) |
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Date: July 7th, 2014 4:06 PM Author: Indecent sex offender stead ? that's the name of the game. the day when most people fully paid for their law school education is gone. now it's a hybrid system that came about due to bad gov't decisions and greedy boomer school administrators who together made law school unaffordable for all but the already rich. more controls on gov't funds will come in the relatively near future (within 10 yrs probably). |
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Date: July 7th, 2014 5:07 PM Author: sepia 180 school cafeteria all jokes aside, it can be stressful at times, which is why I just refuse to think about it. Problem solved! (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886777) |
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Date: July 13th, 2014 2:19 PM Author: Twinkling Erotic Boiling Water 180! (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25923018) |
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Date: July 6th, 2014 10:00 PM Author: sepia 180 school cafeteria (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25882365) |
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Date: July 7th, 2014 12:03 PM Author: soggy citrine degenerate dopamine (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25885099) |
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Date: July 7th, 2014 12:17 PM Author: Burgundy concupiscible electric furnace bbw LOL how the fuck did you get $255K in debt breh, weren't you public UG + went to school in the low-tuition days of 2005? (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25885122) |
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Date: July 7th, 2014 12:30 PM Author: bateful painfully honest brethren garrison why has earl avoided this thread (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25885167) |
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Date: July 7th, 2014 2:45 PM Author: primrose vigorous menage sorry, I was living IRL this weekend and drinking and eating too much.
I'm glad sarc wont be buried by impossible to make loan payments, but I think most of us can agree that it makes little sense for his payments to have no relation whatsoever to the amount of debt he has.
I would also be in favor of the debt never being forgiven. Why should it? |
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Date: July 7th, 2014 2:51 PM Author: bateful painfully honest brethren garrison dat public interest tip (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886011) |
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Date: July 7th, 2014 4:57 PM Author: sepia 180 school cafeteria bro your lack of MAF has made me seriously depressed. Plz show more anger, tyia (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886719) |
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Date: July 7th, 2014 12:34 PM Author: Indecent sex offender stead this is the new normal for like 80% of law students graduating 2012 or later (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25885188) |
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Date: July 11th, 2014 7:58 PM Author: sepia 180 school cafeteria scary shit (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25913206) |
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Date: July 7th, 2014 2:50 PM Author: Fantasy-prone Alcoholic Affirmative Action Chad 180! Don't forget Sarc defends are heroes against baseless charges of rape and public intoxication while Earl services midlaw partners in the suburbs of LA. |
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Date: July 7th, 2014 3:04 PM Author: odious selfie (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886066) |
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Date: July 7th, 2014 3:16 PM Author: Maize Hall (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25886115) |
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Date: July 11th, 2014 7:59 PM Author: low-t gaping tank (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25913210) |
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Date: July 11th, 2014 8:02 PM Author: Cracking awkward senate (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#25913229) |
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Date: April 5th, 2015 6:39 PM Author: sepia 180 school cafeteria protip: loan balance still increasing (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#27626172) |
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Date: April 5th, 2015 6:53 PM Author: overrated kitty cat meaning what - capitalized interest? guess youre getting fucked w/r/t the 57k pslf cap (which will likely get further reduced in the next 4 years). (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#27626259) |
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Date: May 7th, 2015 8:23 PM Author: sepia 180 school cafeteria bumped in anticipation of PSLF going away (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#27844255) |
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Date: October 14th, 2015 6:46 PM Author: sepia 180 school cafeteria (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#28967523) |
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Date: May 8th, 2018 7:53 PM Author: sepia 180 school cafeteria bump for earl (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#36010884) |
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Date: September 28th, 2018 6:03 PM Author: sepia 180 school cafeteria Just checked, $275,000 as of this morning (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#36917372) |
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Date: September 28th, 2018 6:10 PM Author: drab state roommate lmaoo (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#36917414) |
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Date: September 28th, 2018 6:12 PM Author: sepia 180 school cafeteria it MIGHT reach $300,000 by the time I get to forgiveness. It's gonna be close.
for earl's sake I hope it doesn't cross the mark. It might make him irate |
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Date: October 17th, 2018 8:01 PM Author: Disrespectful anal church building people who are hurt (guy about to owe his entire salary to the IRS) (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#37045197) |
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Date: October 18th, 2018 12:00 AM Author: hairless federal property place of business (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#37047126) |
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Date: October 18th, 2018 3:31 AM Author: startled aphrodisiac liquid oxygen giraffe 🤦♂️ (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#37047809) |
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Date: April 14th, 2019 1:27 PM Author: sepia 180 school cafeteria 5 years later, now at $280,000.
Need to get to $300,000 for MAXIMUM EARL ANGER. |
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Date: November 9th, 2020 7:45 PM Author: sepia 180 school cafeteria growth has slowed. Only at $283,000 now. COVID basically stopped any interest from capitalizing. Looks like when I get forgiveness here I won't quite hit $300,000 (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#41329029) |
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Date: June 7th, 2025 10:53 AM Author: sepia 180 school cafeteria Lmao. Bumping now that it's been forgiven. Absurd how much money I ended up paying to these loans (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#48994494) |
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Date: June 7th, 2025 11:09 AM Author: brilliant cumskin center earl killed himself to death irl after this bump (http://www.autoadmit.com/thread.php?thread_id=2611813&forum_id=2)#48994510) |