How much per month to loans if u owe 230k?
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Date: May 11th, 2012 5:32 PM
Author: ,;.;,.;.,;.,;.;,.;,.;,.;,.;,.;,.,;.,;.,;.,.;.,;.;,
pay minimum on 25 year plan (~$1900), which will essentially be an interest-only payment, for the first year and build up savings (as in dont blow it all going out all the time.) if you get laid off as a first year for whatever reason, you are at your most unmarketable. Once youre a second year, 15 months later, shift into hyperdrive and start paying $5500 month for the next four years. You wont save much beyond what you did your first year, and there's obviously still the risk of being laidoff before year 5, but each year you make it through, you become more and more marketable/able to maintain a consistent salary level.
(http://www.autoadmit.com/thread.php?thread_id=1946298&forum_id=2#20671281) |
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Date: May 11th, 2012 8:33 PM
Author: ...,,.,..,,..........,,,.,.,....,,....,.........,
cr, except he can go on IBR and pay 0 for the first year or pay the same amount but only toward 8.5 principal
(http://www.autoadmit.com/thread.php?thread_id=1946298&forum_id=2#20672297) |
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Date: May 11th, 2012 8:35 PM
Author: ,;.;,.;.,;.,;.;,.;,.;,.;,.;,.;,.,;.,;.,;.,.;.,;.;,
true but people are assuming ibr is frictionless. in reality, it requires a shitload of time, paperwork, and armpulling (during which interest is accruing and savings is depleting) before the DOE accepts it. It's easier to plan for the non-IBR route accordingly and keep that only as an absolute fail-safe
(http://www.autoadmit.com/thread.php?thread_id=1946298&forum_id=2#20672309) |
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Date: May 11th, 2012 8:50 PM
Author: ...,,.,..,,..........,,,.,.,....,,....,.........,
It was easy for me. The paper work is like 1.5 pages and takes about 90 seconds to fill out. Attach tax return. Fax it in using faxzero.com
I faxed it like every other day for like 10 days (takes 15 seconds to do this)
Filed a complaint with the student loan ombudsman and BBB for good measure (took less than 10 minutes total)
They were calling me up begging to get the thing done. I have no idea if all of this was even necessary at all, but I wanted to make sure they accepted it the way I wanted them to (using previous year AGI).
EDIT: plus if you have subsidized staffords they will be interest free for a couple years
(http://www.autoadmit.com/thread.php?thread_id=1946298&forum_id=2#20672408) |
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Date: May 11th, 2012 8:53 PM
Author: ,;.;,.;.,;.,;.;,.;,.;,.;,.;,.;,.,;.,;.,;.,.;.,;.;,
and now your monthly is 0? congrats bro. the only risk is all that negative amortization you'll be faced with if the plan gets pulled or you start earning again; but short-term, you got to do what you have to do.
(http://www.autoadmit.com/thread.php?thread_id=1946298&forum_id=2#20672429) |
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Date: May 11th, 2012 8:48 PM
Author: .,.,....,.,.,.,:,,:,...,:::,....,,:,.,.:..,:.::,.
I thought there was a federal cap?
(http://www.autoadmit.com/thread.php?thread_id=1946298&forum_id=2#20672393) |
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Date: May 11th, 2012 8:49 PM
Author: ,;.;,.;.,;.,;.;,.;,.;,.;,.;,.;,.,;.,;.,;.,.;.,;.;,
thats on staffords, not GP. why would they give up making that spread?
(http://www.autoadmit.com/thread.php?thread_id=1946298&forum_id=2#20672398) |
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Date: May 11th, 2012 8:36 PM
Author: ,;.;,.;.,;.,;.;,.;,.;,.;,.;,.;,.,;.,;.,;.,.;.,;.;,
5 years, not 6-7
(http://www.autoadmit.com/thread.php?thread_id=1946298&forum_id=2#20672316) |
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Date: May 11th, 2012 8:40 PM
Author: ,;.;,.;.,;.,;.;,.;,.;,.;,.;,.;,.,;.,;.,;.,.;.,;.;,
66k starting year 2, which is doable in biglaw, provided youre frugal
(http://www.autoadmit.com/thread.php?thread_id=1946298&forum_id=2#20672337) |
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Date: May 11th, 2012 8:44 PM
Author: ,;.;,.;.,;.,;.;,.;,.;,.;,.;,.;,.,;.,;.,;.,.;.,;.;,
takehome is ~105k for second years. leaves 3200/mo and climbs lockstep every year
(http://www.autoadmit.com/thread.php?thread_id=1946298&forum_id=2#20672367) |
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Date: May 11th, 2012 8:47 PM
Author: ,;.;,.;.,;.,;.;,.;,.;,.;,.;,.;,.,;.,;.,;.,.;.,;.;,
no 401k contribution
(http://www.autoadmit.com/thread.php?thread_id=1946298&forum_id=2#20672387) |
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Date: May 11th, 2012 8:51 PM
Author: ,;.;,.;.,;.,;.;,.;,.;,.;,.;,.;,.,;.,;.,;.,.;.,;.;,
with health insurance
(http://www.autoadmit.com/thread.php?thread_id=1946298&forum_id=2#20672413) |
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Date: May 11th, 2012 8:54 PM
Author: ,;.;,.;.,;.,;.;,.;,.;,.;,.;,.;,.,;.,;.,;.,.;.,;.;,
well, are you a second year in mfh?
(http://www.autoadmit.com/thread.php?thread_id=1946298&forum_id=2#20672442) |
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Date: May 11th, 2012 9:09 PM
Author: .........,..,..,:,,:,...,:::,....,:,..,.:.:.,:::,
I am a second year in Manhattan. My take home (after taxes, health insurance, and Metrocard) is a little over $8,500 per month, or about $102,500 per year. Plus about $2,500 extra over the last four months when I'm no longer paying SS. That's almost exactly 105k. I will take home about 6k from bonus. And my refund will be about 4k. About 115k all in (no 401k contributions).
(http://www.autoadmit.com/thread.php?thread_id=1946298&forum_id=2#20672558) |
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Date: May 11th, 2012 9:15 PM
Author: ,;.;,.;.,;.,;.;,.;,.;,.;,.;,.;,.,;.,;.,;.,.;.,;.;,
and by no longer paying SS, you mean you hit your yearly contribution limit?
(http://www.autoadmit.com/thread.php?thread_id=1946298&forum_id=2#20672594) |
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Date: May 11th, 2012 9:18 PM
Author: .........,..,..,:,,:,...,:::,....,:,..,.:.:.,:::,
That's right. I'll hit it around August.
(http://www.autoadmit.com/thread.php?thread_id=1946298&forum_id=2#20672614) |
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Date: May 11th, 2012 9:22 PM
Author: ,;.;,.;.,;.,;.;,.;,.;,.;,.;,.;,.,;.,;.,;.,.;.,;.;,
ty for your contributions to this thread brother
(http://www.autoadmit.com/thread.php?thread_id=1946298&forum_id=2#20672649) |
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Date: May 11th, 2012 9:28 PM
Author: .........,..,..,:,,:,...,:::,....,:,..,.:.:.,:::,
No problem brother, I figured I was in a unique position to help. Strange for the pumo you were arguing with to state incorrect facts so arrogantly.
(http://www.autoadmit.com/thread.php?thread_id=1946298&forum_id=2#20672709) |
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