[quote=squat250]I left law school in 1995 with $95,000.00 in debt. Not sure what that is inflation-adjusted. Probably a lot.
Je ne regrette rien, but, I easily could’ve and froma financial planner’s perspective, shouldve, borrowed less. If I did it over, I’d have atteneded a different school and left with 20-30k debt, if that.
Timing is everything. That debt was a good deal at the time for me, in retrospect. It still might be a good deal. It’s just, there’s less room to change direction nowadays. You better be damn sure what you’re doing when you have 250,000 in student debt.
BG, not sure about the “under 45” criteria. You could be 50 and easily work till you’re 80.
My Mom is older than that and stillworks most days.
Indeed, perhaps the debt and the degree would give some individuals a purpose, mission and reason to keep living![/quote]
scaredy, I agree that $250K is a whopping sum to borrow, leaving a former student with crippling debt and making it next to impossible to move on with his or her life (buy vehicle/home and/or get married/have children) at the age he or she normally would.
However, 1995 (when you graduated) was 17 years ago, when new lawyers could still get secure gov’t jobs (like yours) and state and local gov’ts were still hiring. Is your agency still hiring? And if so, how many newly-minted lawyers do they have lined up to compete for ONE entry-level opening?
Of course, nearly ALL boomers would like to continue to work (even PT) indefinitely. Those that don’t have secure employment (where they can’t be discharged without cause) are likely either insecure about their continued employment or unemployed. Once unemployed and over 50, it doesn’t matter WHO you are or what you know … you will very likely never be hired again, at least in SD County.
Maybe it’s different in other locales where many young people (potential employees) have fled for more opportunity or left for college and never returned.
