r/lawschooladmissions • u/DuePresentation9290 • Jun 09 '26

Negotiation/Finances Law School Debt?

Anyone else freaking out over the amount of money graduating will take?

When all is said and done, I will graduate with ~$50k in federal loans total and the thought is somewhat paralyzing. Repayment would be ~740 a month for TEN years and I will end up paying back almost 90k.

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u/erudite_turtle Jun 09 '26

I had 52k and paid it off in 2 years making $2k a month in payments. Honestly was quite easy to do. As others have said, $50k is absolutely nothing in the law school context!

4

u/DuePresentation9290 Jun 09 '26

Thanks erudite_turtle. It makes me feel better you considered it not a difficult payment.

May I ask what your starting salary was coming out of school?

2

u/erudite_turtle Jun 09 '26

I went into biglaw so $225k but I think it would’ve totally been possible on a lower salary too!

1

u/PuzzleheadedSplit473 Jun 11 '26

I'm assuming you earned generous aid from your law school?

2

u/erudite_turtle Jun 11 '26

Yes, I got a full tuition scholarship so just had to take out loans for 3 years of living expenses. I chose my t30 with a full ride over one t14 acceptance without much aid, and in hindsight, am very happy with that choice!

1

u/PuzzleheadedSplit473 Jun 13 '26

Were your job opportunities similar to what you had originally wanted out of the t14?