This is the type of BIDER fan that I don't know how to save. The one that's already took the plunge. Any words of wisdom for him/her would be appreciated. I, frankly, don't know what to say. I've never deferred my loan payments, amazingly. So, IBR is a foreign language to me:
My name is [BIDER READER], I'm a recent law school graduate from this year, and I am taking the bar exam in two states this week. I just discovered your blog a couple weeks ago and I would like to seek some advice from you. I'm sorry this email is long, but I would greatly appreciate if your read it and provide some advice.
I have been very nervous... about job prospects and my student loans when I get out of school. I graduated from a TTTT in the 60th percentile, with $120,000 in loans, and am currently trying to find a job in a very crowed legal market. I had some fears this past year that it would be difficult to find a job as a lawyer with those factors, and stumbling upon your website site pretty much confirmed that those fears were true.
In addition, I am very burnt out from three years of law school, and BarBri this summer. I am dreading three days of examinations this week, not because I am unprepared, but because I am so mentally drained at this point. And I feel like it could all be for nothing even if I pass, judging from everything I've heard on the scamblogs. I had the vigor to practice law up until a few months ago, but now I am questioning whether I want to keep dealing with the seemingly never-ending tests, fees, and frustration that surrounds the law...if I can even find a job.
So, part of me just wants to say screw the law, and seek a non-legal job as soon as the bar exam is over. Unless I can parlay my J.D. into a good position, I'll likely be stuck making around $40,000 like I was before I went to law school. I'm wondering, do you know how bad income based repayment will be with my law school loans? I already realize that I'm gonna be living in my parent's basement for a long time, and won't be able to start a family for a long long time either. But one thing going through law school has taught me, is that money certainly isn't everything, and I'd rather do something I enjoy that be stressed out constantly a la law school.
I would appreciate any advice you could give me, being that it sounds like from your blogs you've been through some of the things I'm going through right now.
Yes, BIDER reader, I feel your pain. Maybe some of the readers can pipe up about IBR and how it works. Hardknocks may have some insight. I would suggest trying to find any job, legal or non, and let that dictate your future. I am ten years out and making what I made as a judicial law clerk, or worse. So, $40K doesn't sound like a bad salary to me. Sorry you made this mistake, but you are far from alone.
Any ideas for this young lawyer?
Oh yah, I'd like to pretend that the bar exam doesn't exist, but it does and many of our readers are taking it this week. I wish you luck and I hope you pass on the first try. At least you'll be satisfied in knowing that you're eligible to practice the law and you can go on with your life--whether that's being a lawyer or something else. GOOD LUCK. Let us know how you did!
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