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Mattavist posted:So do they ever move around later in their career? Or are you basically chained to wherever you started out? You can move if there are openings in other areas. My friend's dad worked (if I recall correctly) in AZ, FL, AK, and PR before settling in NH. My friend trained in OK but is based out of NH now and plans to stay there for his entire career (mandatory retirement at 55 I think).
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Feb 12, 2014 05:09
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Today at my "externship" I spoke with a girl in the class above mine (graduating this year). She has no job lined up and is spending most of her time doing things for the women's issues-centered law journal here. She said she dropped her laptop on its side the other day and broke it. I asked her if it was a Mac. Of course it was, and she immediately blew $2,000 on a new one, too. Her exact phrasing was "already $175,000 in debt, what's another $2,000 on top of that?" I feel ill.
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Feb 12, 2014 05:51
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Had my first trial scheduled for today, but the prosecutor agreed to stay the charge 5 minutes before the trial was going to start Really happy for my client, but damnit I was so ready to go to trial 
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Feb 12, 2014 15:31
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burf posted:Had my first trial scheduled for today, but the prosecutor agreed to stay the charge 5 minutes before the trial was going to start Get used to the blue balls. Though criminal seems much better for trying cases than civil.
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Feb 12, 2014 17:33
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Vox Nihili posted:Today at my "externship" I spoke with a girl in the class above mine (graduating this year). She has no job lined up and is spending most of her time doing things for the women's issues-centered law journal here. She said she dropped her laptop on its side the other day and broke it. I asked her if it was a Mac. Of course it was, and she immediately blew $2,000 on a new one, too. Her exact phrasing was "already $175,000 in debt, what's another $2,000 on top of that?" At a certain point, the bank cares more about being repaid than the debtor cares about paying. Also, I defended a private student loan suit today and won. 20k less of a student loan problem in this country!
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Feb 12, 2014 19:26
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Vox Nihili posted:Today at my "externship" I spoke with a girl in the class above mine (graduating this year). She has no job lined up and is spending most of her time doing things for the women's issues-centered law journal here. She said she dropped her laptop on its side the other day and broke it. I asked her if it was a Mac. Of course it was, and she immediately blew $2,000 on a new one, too. Her exact phrasing was "already $175,000 in debt, what's another $2,000 on top of that?" Assuming that's all federal loans and subject to ibr/paye, she's right. For anyone not going to biglaw there's no difference in repaying any amount over like 75k. 100,200,300, doesn't matter.
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Feb 12, 2014 19:42
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mastershakeman posted:Assuming that's all federal loans and subject to ibr/paye, she's right. For anyone not going to biglaw there's no difference in repaying any amount over like 75k. 100,200,300, doesn't matter. That assumes she never finds well-paying employment over the next 25 years. If she does succeed somewhere down the line, she has to file paperwork about her new job and the loan will assert itself with renewed vigor. Plus, she'll have to pay taxes on the remaining sum when it is finally "forgiven" 25 years down the line. If her IBR payments do not cover the interest accruing, the amount that will eventually wallop her with tax consequences will continue to grow and grow. Also, to even qualify for forgiveness, she needs to satisfy a variety of requirements, and a single missed payment or period of unemployment could potentially throw the whole thing off the tracks. TLDR: I think it's really dangerous to assume that after a certain threshold, more loans can't hurt you just because IBR is a thing.
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Feb 12, 2014 22:01
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Vox Nihili posted:IBR and taxes. I will be shocked if IBR forgiveness is a taxable event in 22ish years. Also, Bankruptcy. 
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Feb 12, 2014 22:12
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Roger_Mudd posted:I will be shocked if IBR forgiveness is a taxable event in 22ish years. IRS rulings have already established that forgiveness isn't a taxable event if it's on the 10-year public service forgiveness track. The 25-year track, however, is always a taxable event.
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Feb 12, 2014 22:31
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Roger_Mudd posted:I will be shocked if IBR forgiveness is a taxable event in 22ish years. Hell, I expect the coming revolution to sweep away all of this nonsense!
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Feb 12, 2014 22:36
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Wait, if you miss one payment, the 25 year forgiveness thing gets derailed?
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Feb 13, 2014 01:37
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MoFauxHawk posted:Wait, if you miss one payment, the 25 year forgiveness thing gets derailed? Yeah I don't see how that's true, also unemployment isn't a problem because it just lowers your payment.
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Feb 13, 2014 02:15
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mastershakeman posted:Yeah I don't see how that's true, also unemployment isn't a problem because it just lowers your payment. My understanding is that payments are calculated yearly. Though you can also apply for hardship deferments, which count toward the 25 years before forgiveness. Presumably there is some limit to these. Payments can even hit $0. That said, though it won't put you directly into the grave, a huge debt can clip your wings if things turn around and you want to pay loans down in the future, or, heaven forbid, attempt to borrow more money to buy a car, take out a mortgage, etc.
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Feb 13, 2014 04:43
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Vox Nihili posted:My understanding is that payments are calculated yearly. This is why I never switched to IBR. Living the life of a doc reviewer, even a PM, means I never know if I'm going to be on unemployment for a few months or conversely, rack up the overtime and doubletime. I don't want to risk $1500 monthly payments when I might be bringing in just over half that in EDD checks per month. (Though if unemployment deferments were indefinite, that would be a different story, I guess.)
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Feb 13, 2014 05:56
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prussian advisor posted:IRS rulings have already established that forgiveness isn't a taxable event if it's on the 10-year public service forgiveness track. The 25-year track, however, is always a taxable event. No poo poo? And here's me just getting a job with a federal agency. 10 years in, and sullat 1, sallie mae 0.
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Feb 13, 2014 08:09
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sullat posted:No poo poo? And here's me just getting a job with a federal agency. 10 years in, and sullat 1, sallie mae 0. Your lender gets their money regardless. You're actually sticking it to the IRS.
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Feb 13, 2014 15:43
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My wife is disabled and we got hit with a 30k bill for her loan forgiveness. It's a load off to learn that in 5 years my payoff won't hit like that.
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Feb 13, 2014 16:09
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Nitrousoxide posted:Your lender gets their money regardless. You're actually sticking it to the IRS. In that case, it'd be to the American taxpayer. If they're the ones ultimately on the hook.
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Feb 13, 2014 16:19
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sullat posted:In that case, it'd be to the American taxpayer. If they're the ones ultimately on the hook. But think of how much our society is improved by all those lawyers! If you think about it, we're all coming out ahead.
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Feb 13, 2014 19:19
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Yes, any system where American tax payers help fund outsized law school tuition and banks is A-OK by me. gently caress feeding the poor, I want my tax dollars going to law school professors.
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Feb 13, 2014 19:33
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SlyFrog posted:Yes, any system where American tax payers help fund outsized law school tuition and banks is A-OK by me. gently caress feeding the poor, I want my tax dollars going to law school professors. Apparently my sarcasm didn't quite translate. Teach me for not using an emoticon.
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Feb 13, 2014 19:34
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SlyFrog posted:Yes, any system where American tax payers help fund outsized law school tuition and banks is A-OK by me. gently caress feeding the poor, I want my tax dollars going to law school professors. I seriously don't understand how the GOP hasn't made A Thing about IBR yet but I'm grateful that they haven't
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Feb 14, 2014 00:02
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Ainsley McTree posted:I seriously don't understand how the GOP hasn't made A Thing about IBR yet but I'm grateful that they haven't I think because it skews heavily toward people with money. The richer half of the country tends to go to college, and an even richer portion tends to go to grad school. Obviously the ruling class isn't taking out student loans, but enough children of upper middle class people must be using this program that it wouldn't be a good policy for them to attack.
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Feb 14, 2014 00:08
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I dunno, I feel like the class of people rich enough for the GOP to actually care about wouldn't have to worry about massive student loan debt and wouldn't get much out of IBR...maybe there's just not enough benefit in shutting it down for them to focus on it? But surely they could if they wanted to. "YOUR tax dollars are paying for HIS free education: *picture of unemployed law goon jerking it to a picture of eskimos*"
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Feb 14, 2014 00:11
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Probably because the debt forgiveness hasn't really hit yet, and won't until doctors working at public hospitals start having x00k forgiven in a few years.
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Feb 14, 2014 00:22
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mastershakeman posted:Probably because the debt forgiveness hasn't really hit yet, and won't until doctors working at public hospitals start having x00k forgiven in a few years. Who the hell do you think underwrites Republican Campaigns? Doctors having their debt forgiven. IBR is untouchable. The only thing I see happening to IBR is that the forgiveness will be non-taxable.
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Feb 14, 2014 00:36
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And because there are a bunch of conservatives benefiting from IBR working at think tanks and for conservative PACs that are getting just as much benefit from IBR as liberals.
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Feb 14, 2014 00:49
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Also alongside the medical field the ABA is one of the most effective lobbying groups there is. IBR isn't going anywhere.
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Feb 14, 2014 01:26
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Arcturas posted:And because there are a bunch of conservatives benefiting from IBR working at think tanks and for conservative PACs that are getting just as much benefit from IBR as liberals. No, there aren't, if you're talking about ten year loan forgiveness. It only works for 501(c)(3) organizations, not 501(c)(4)'s. It sucks for anybody with massive debt who wants to work for a labor union. If you're talking about the actual income-based repayment part, these policy work conservatives are still probably making enough money that IBR isn't very helpful for them.
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Feb 14, 2014 01:33
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Add in the fact that there is an entire industry of for-profit schools built on the back of federal financial aid, and they tend to spend a chunk of that financial aid money on lobbyists.
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Feb 14, 2014 03:04
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The system works
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Feb 14, 2014 03:42
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Thanks thread, I just graduated from the maritime academy I went to instead of law school, I was done in 2.5 years and within a few weeks of graduation had a well-paying full-time job lined up (at the first place I looked, really). I start Monday!
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Feb 14, 2014 04:04
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TenementFunster posted:just found out that after getting canned I was replaced by a licensed attorney working 31.5 hours a week making $12.50 an hour I found a company near me that is hiring a janitor for $21/hr.
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Feb 14, 2014 04:09
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Pook Good Mook posted:Apparently my sarcasm didn't quite translate. Teach me for not using an emoticon. Naw man, I understood it. We cool. Wasn't taking a shot at you. Education, and education costs are all kinds of hosed up in this country right now. I'd love to see a way to actually make higher education affordable, other than methods that may have the perverse incentive of maintaining (or increasing) the stupid levels of tuition that exist right now. Sadly, no one seems to be on board with my Stalinist "charge lower tuition or we shoot you" methods. SlyFrog fucked around with this message at 04:14 on Feb 14, 2014 |
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Feb 14, 2014 04:10
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SlyFrog posted:Naw man, I understood it. We cool. Wasn't taking a shot at you. I'm on board.
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Feb 14, 2014 06:15
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A friend of mine once used the phrase "robespierre-style reign of terror" years ago and it hasn't left my head since
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Feb 14, 2014 06:57
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Does anyone know how ten-year forgiveness works when you're on a 30-year payment plan? I don't qualify for IBR. I'm getting the impression that because I'm not on IBR and because I'm making lower payments than the standard 10-year repayment plan, I don't qualify for the forgiveness. Once my husband's loans enter repayment we'll qualify for IBR then. But I'd rather be three years into the ten now rather than waiting for them to start.
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Feb 14, 2014 17:37
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Tough week for criminal lawyers in the Toronto area. 1) This dude got charged with criminal harassment (which could range anywhere from dirty texts to stalking)...of a couple young girls 2) Crazy ol' Ed felt up a client and took a plea to simple assault. 3) This one is bullshit and I hope it gets overturned 4) The real talk of the town today, because inevitably losing your career over a bar fight loving sucks.
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Feb 15, 2014 05:38
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CmdrSmirnoff posted:Tough week for criminal lawyers in the Toronto area. I met this guy at a bbq for the boxing gym he sits on the board of a few years ago when he was still a Crown attorney. Nice dude, didn't come across as the type to do anything of this nature. Edit: reading story #4, apparently boxing is a common pastime for Crowns.
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Feb 15, 2014 06:07
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CmdrSmirnoff posted:Tough week for criminal lawyers in the Toronto area. What's the deal with 3, i don't get the problem with "inadequate searches", didn he have the drugs on him coming out or what?
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Feb 15, 2014 14:27
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