Financing Graduate School

alicantekid
Wed, 08 Dec 2004 18:58:04 +0000

My best friend just graduated from law school and he had a ton of debt to pay off in loans. But he got a nice six figure salary directly out of law school and he consolidated all of his debt. He got such a low interest rate that he’s just going to pay it off over 30 years because he has no reason to pay it off sooner. He’ll earn more interest letting the money sit in a savings account than he’s going to get charged by the debt consolidators. He still has enough money to buy a boat (well, 1/2 a boat that he’s splitting with his parents) and a house on Lake Havasu that he’s also splitting with his folks.

The moral of the story is that you can afford grad school, whether it’s through loans, fellowships, or family contributions.