in fact, try to maximize debt. assuming you and your family dont have much in the way of assets, it might not be irrational. With law school or med school, you might very well be able to climb up t the 400 or 500k in debt range.
then just put it all on IBR
(income based repayment).
basically, at huge debt levels, the gov. doesnt want you to defailt. there are all sorts of plans to stop defaulting, including IBR PAYE and public service forgivenemess.
IBR is based on income, its almost like a tax…but it takes the risk of the debt away from you, because your payment is only based on what you can pay.
of course, this is a giant governmental scam that only serves to prop up absurd tuition prices.
when the debt level gets high enough its the banks problems, not yours.
the main obstacle to this plan would be in not fretting over the debt, or, in the parlance of young debtors over at http://www.jdunderground.com , to “stop giving any fucks”.
its a daring, bold strategy, no t one i personally would have the cojones to engage in…
