Here is how law school worked for me: 8,500 in subsidized loans per year 10,000 in unsubsidized per year ......the difference being that interest did not accrue during school for the subsidized.... so, doing the math....approx $60,000 for three years.... now, I went to Iowa and got a break on tuition (THE bargain for out-of-state students) so I owe less than that...I cannot speak to where the money comes from for people to go to the private schools or Michigan..... I do know law school grads that owe $250,000 total for undergrad and law school.....ummmmm yummy debt.......
kelley <star.matrix at verizon.net> wrote: At 04:35 PM 6/28/02 -0400, JBrown72073 at cs.com wrote:
>In a message dated 6/28/02 9:06:35 AM, owner-lbo-talk-digest at lists.panix.com
>writes:
>
> >i recall learning that you could get 8k for grad school, but even then
> >you have to be in grad school ten years for that kind of debt!?
> >kelley
>
>Nearly everyone I know who has school debt has credit card debt, which they
>racked up on irresponsible purchases such as rent and groceries.
i'm asking about student loan debt. you know, the kind that the government keeps track of. i don't give a bat's eyelash about personal debt that one draws on a credit card. (i'm not saying it's unimportant and not part of what people have to do to get to college)
but that's not what i was asking about. how was asking how the figures are calculated. i am asking a simple math question about the figures regarding debt given that my understanding is that student loan debt refers to one thing and one thing only, not to private credit card debt. and i'm asking that those of you who understand the system fill me in.
again, i and all my poor friends were told that we could get exactly 2500$ in loans back in the late 80s and early 90s. we had credit cards too and we racked up debt too. i used to have to figure out how to feed a family of three on $25/wk. i don't need to be lectured.
what is truly fascinating, of course, is this seems to be treated exactly as justin said it's treated. let's not actually discuss the details--though thanks to dennis for actually making some attempt to explain it.
i don't expect people to be my research service,just a simple answer like dennis gave would have been nice. given that most people on this list went to college and many did in the past decade, i'd think there'd be many more people who could explain what student loan debt is referring to. i went to grad school at the same time dennis did. now, maybe since i got a fellowship and TAship, i was ineligible for the amounts he was eligible for. but it was sure the case that the cap on the loan was 8k. i was told of no other loans save for loans your parents could get or you could get but they had to be paid immediately, not after you graduated college. and, of course, i didn't understand how i could possibly pay off a college loan WHILE i was in college on a fellowship and TAShip that paid 10k/8k each year.
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