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Forum -> Household Management -> Finances

Debt

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View latest: 24h 48h 72h

How much debt do you have?

None

55%

[ 125 ]

0-10 K

16%

[ 36 ]

10-30K

10%

[ 24 ]

30-50K

10%

[ 24 ]

Other

[ 16 ]

Total Votes : 225

Peanut2

Tue, Sep 22 2015, 10:41 am

amother wrote:

Does someone know in school that they for sure have a job at such a firm...

If they go to a good enough law school then hopefully yes.

My brother graduated from one of the top programs in the US (Yale, Harvard, Stanford, Columbia, NYU, U of C) in 2009 and it was a terrible year. Some people didn't have jobs lined up or had their jobs rescinded. Unless coming from significant wealth these people had debt of well over $100,000 from law school alone. Some had existing debt from undergrad. Things have improved and when people attend top law schools they expect to earn a lot. And if t hey don't and decide to work in more public service oriented jobs (think government and helping the poor) there are loan forgiveness programs at these schools.

If you don't get into a great program it is better to attend a state school and take out less loans. No one should be taking out loans for crappy schools. More of an issue in 2009-2010, but people who went to great schools but did poorly also struggled. Better to be at the top in a less prestigious program (though of course it's best to do well in a better one).

Peanut2

Tue, Sep 22 2015, 10:45 am

amother wrote:

Only if they have major pull or a family member with such a job that can get them in. I know a few lawyers with huge student loans struggling to find jobs that pay living expenses.

This is absolutely false. If you go to a good program and do well you will get a job. It's tighter than before, and knowing people is always helpful in life, but there are always alumni.

Just having a law degree from Random University is not enough to get a job. Especially not in law, not these days.

THe people you know should make sure to have a job as soon as possible, even if it doesn't pay. Otherwise they are making themselves less marketable.

amother

Violet

Tue, Sep 22 2015, 10:50 am

My DH is in PA school. He is in a state school so tuition is only $30,000 and the starting salary in my region is close to three figures.
But we also have to take out loans for living expenses so our debt will be closer to $50,000 when he's done.
We also have a mortgage but have already paid off 5 years on a 15 year loan.

streak

Tue, Sep 22 2015, 12:04 pm

ot what is the insurance for a nurse anesthetist?

amothertoo

Tue, Sep 22 2015, 12:05 pm

What do mean? Malpractice insurance? Most CRNAS work in a hospital setting and are covered by the hospital

amother

Blush

Tue, Sep 22 2015, 4:19 pm

my major debt is student loans, I do owe tuition from last year. not much though.
and consumer loan debt 300 target card. student loans are a killer.
I will strongly encourage my kids to go to cuny. and suny

amother

Pumpkin

Tue, Sep 22 2015, 5:11 pm

We have manged to Stay debt free for years. But now we carry debt but it's mostly due to many medical bills we need to pay besides our regular insurence that eats up most of dh salery.

amother

Rose

Tue, Sep 22 2015, 5:37 pm

I responded with over 30K, but that was before I read that your choices did not include student loans. If not for student loans, we are thankfully debt-free.

amother

Forestgreen

Wed, Sep 23 2015, 10:47 pm

I filed for Chapter 7 bankruptcy when I got divorced. It was the only way I could get remarried. Nobody was interested in $80,000 debt. I am now debt free.

amother

Indigo

Wed, Sep 23 2015, 10:56 pm

If you have none or minimal debt, be grateful, having a job/parnassa/no debt is all min Shmayim. Our debt got big the past 2 years because while I had the degree and means to make a decent living, the jobs didn't come my way, but I can tell that a lot of it was Heavenly ordained--most times when we NEEDED money we had it in some form or another--even just getting approved for a credit card when we NEEDED it. Hopefully, now we will be in a better position to get back on track.

amother

Cerise

Thu, Sep 24 2015, 1:31 am

got 70k+ in student loans!

amother

Magenta

Thu, Sep 24 2015, 5:13 pm

Changed my vote when I saw student loan not counted. Hubby has I think 27 grand to pay in student loans, other than that, things we owe are monthly payment kinda things, gas electric, rent... Starting salary for hubby once he gets a job (which he had, but was just let go...) could be anywhere from 70 grand to 120 grand (120 with a master's).

amother

Ginger

Thu, Sep 24 2015, 6:43 pm

I voted 30000-50000. My dh started a business A few years ago which went good but the tax and costs off shipping were killing us! He was in denial at the end until the shipping company refused to deliver.... we decided to stop it. So now we have a large debt gap... not a loan... We even get law suits it is terrible.... If anyone want to help me with a loan? Confused

We are really desperate..... Crying

PLEASE DO NOT BASH US, IT IS TERRIBLE ENOUGH AS IT IS!

amother

Magenta

Thu, Sep 24 2015, 6:46 pm

So sorry to hear ginger Sad

that's so hard! I wish I could help, but we are just starting out and don't have much money to our name yet at all. Hug

amother

Ginger

Thu, Sep 24 2015, 6:59 pm

Thanks for the Hug amother. It warms my heart! Hug

eschaya

Sat, Sep 26 2015, 9:28 pm

Like many above me, we have no "debt" according to the terms of this poll, but we do have student loans that we are slowly paying off, monthly car payments, etc. I can't imagine we'll ever be able to really breath easy, especially with tuition.

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