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Article states that he and his wife landed six figure salaries, but graduated with 194k in debt. I think more crucial to how the story unfolded is that they pr
by dsaewra 18y ago
Article states that he and his wife landed six figure salaries, but graduated with 194k in debt. I think more crucial to how the story unfolded is that they probably didn't live below their means, probably didn't consolidate the loans to a lower rate (they were paying rates at 9%-12%), and probably didn't pay the loan off aggressively.
I wouldn't blame going to college, or college choice for poor financial sense.
- swombat 18y agoAccording to the article, the loans were at 18% variable rate... that's probably most of the problem right there.
- kragen 18y agoNo, that was somebody else's loan. Kellum's was variable rate that varied up to 9%; Coultas's was variable rate up to 12%.
- tokenadult 18y agoI referred to return on investment because there are other law schools in California a) with lower list price (and thus lower total cost of attendance) and b) even higher prestige (thus making a higher starting salary even more likely). They started out with reasonably good starting salaries, but unreasonably high levels of student debt.