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Uh, $1 million in student loan debt? And, goes back to law school? What?
I wonder if they could even get another student loan for him to go to law school. That's part of my peeve, people should be cut off from taking on more student loan debt if they owe say $50k. They also should have to be current with payments.
I wonder if they could even get another student loan for him to go to law school. That's part of my peeve, people should be cut off from taking on more student loan debt if they owe say $50k. They also should have to be current with payments.
I agree.
But, all that debt and more student loans for law school? My head just exploded!
Unless you are at a top NYC law firm with an ivy league degree, an average lawyer isn't rolling in money.
It's real estate closing, working at a small bank, liability cases, divorces, immigration paperwork - not big bucks needed for over a million dollars of student loan debt.
It proves the difference between book smart and common sense!
I'm trying to figure out how you get $1M in student load debt. I've also got to wonder about her abilities as a lawyer. This just doesn't add up to me as someone who I'd want to hire as my attorney. Not just lacking in common sense but how could I trust their skills in a case given this obvious lack of foresight. They're not 18 but in their forties. Wonder if they're really running it as a scam -- minimum payments, oh we're so in debt, while hiding income, and leaving the debt for after they're gone.
But, all that debt and more student loans for law school? My head just exploded!
Unless you are at a top NYC law firm with an ivy league degree, an average lawyer isn't rolling in money.
It's real estate closing, working at a small bank, liability cases, divorces, immigration paperwork - not big bucks needed for over a million dollars of student loan debt.
It proves the difference between book smart and common sense!
My nephew is an attorney. But, he passed the bar at 25 and was a partner by 29. So, if these people could be lawyers they would have already been lawyers. You need to be extremely competent and intellectual (not to state the obvious).
Trade-offs: Giving up private office space, cable TV and phone lines
Rhiannon Dodds Funke said she and her husband have nearly $1 million in student loan debt. Dodds Funke is a law school graduate and her husband, a former philosophy professor and cancer survivor, recently went back to school to get a law degree to help support their two teenage children.
She said that if it weren’t for income-driven repayment plans, her monthly installments would be more than $5,000.
“It’s more than I could ever even begin to afford,” she said.
Under a payment plan, she had been previously paying around $350, but she expects to pay closer to $500 with current interest rates.
Meanwhile, the family's rent has risen to $3,500, from $2,100, since the pandemic.
“Now to have the student loans stacked on top of it, it’s really, really scary. We are going to be living on the brink,” she said. “There have been a lot of expenses that we’ve been trying to tear down to try to prepare for this.”
Among those changes, the family recently got rid of cable television and canceled phone lines, and Dodds Funke is going to give up the office space where she practices law and work from home.
“But ultimately, even with those expenses paring down, the rising costs that have been happening in conjunction with this reinstitution of the loans, it is pretty terrifying.”
The highlights are - the average student loan borrower only has a monthly payment of between $150-$200 per month and most of the student loan borrowers with higher balances also tend to have higher household income so they can afford the higher monthly loan payments.
The highlights are - the average student loan borrower only has a monthly payment of between $150-$200 per month and most of the student loan borrowers with higher balances also tend to have higher household income so they can afford the higher monthly loan payments.
Then why the nationwide panic on the resumption of loan payments?
Trade-offs: Giving up private office space, cable TV and phone lines
Rhiannon Dodds Funke said she and her husband have nearly $1 million in student loan debt. Dodds Funke is a law school graduate and her husband, a former philosophy professor and cancer survivor, recently went back to school to get a law degree to help support their two teenage children.
She said that if it weren’t for income-driven repayment plans, her monthly installments would be more than $5,000.
“It’s more than I could ever even begin to afford,” she said.
Under a payment plan, she had been previously paying around $350, but she expects to pay closer to $500 with current interest rates.
Meanwhile, the family's rent has risen to $3,500, from $2,100, since the pandemic.
“Now to have the student loans stacked on top of it, it’s really, really scary. We are going to be living on the brink,” she said. “There have been a lot of expenses that we’ve been trying to tear down to try to prepare for this.”
Among those changes, the family recently got rid of cable television and canceled phone lines, and Dodds Funke is going to give up the office space where she practices law and work from home.
“But ultimately, even with those expenses paring down, the rising costs that have been happening in conjunction with this reinstitution of the loans, it is pretty terrifying.”
Then why the nationwide panic on the resumption of loan payments?
Well, those writing the articles might have a political agenda.
Quote:
The majority of newspaper reporters (55 percent) told pollsters they considered themselves liberal, 26 percent said they were middle-of-the-road and 17 percent said they were conservative.
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