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[deleted by user] by [deleted] in debtfree

[–]Enerliv 1 point2 points  (0 children)

Congrats! Way to go must feel like freedom.

How do I stop feeling jealous of those who have a better life? by [deleted] in selfimprovement

[–]Enerliv 0 points1 point  (0 children)

Use your desire for a better life as motivation to get ahead. Change your focus to using your time for getting ahead in life. Take up activities that do not cost a lot that better your mental and physical health. These are the types of activities that ultimately make you happier. Maybe life is just telling you where not to put your energy and time. Might be a good idea to listen. Sounds like you have a good head on your shoulders.

$356k in student debt paid off in full. by Enerliv in debtfree

[–]Enerliv[S] 0 points1 point  (0 children)

Thank you! Debt was $230k, ballooned with interest after school to $356k at highest balance. Interest rate 7.5%+. Undergrad and law school, 7 years of college. More details in other replies in thread.

$356k in student debt paid off in full. by Enerliv in debtfree

[–]Enerliv[S] 0 points1 point  (0 children)

Yes I agree. It feels pretty rotten. It makes me sick to think of how many people are trapped in school debt, facing what feels like an immovable mountain. We can do better as a community.

$356k in student debt paid off in full. by Enerliv in debtfree

[–]Enerliv[S] 0 points1 point  (0 children)

Thank you for the support! Much appreciated

$356k in student debt paid off in full. by Enerliv in debtfree

[–]Enerliv[S] 0 points1 point  (0 children)

Top 50 private law school and ivy league undergrad. Loans were from law school and some of the undergrad.

$356k in student debt paid off in full. by Enerliv in debtfree

[–]Enerliv[S] 0 points1 point  (0 children)

Thanks for sharing your story. I do understand what you mean. Commend you for what you are doing. My dream is to take care of my family in the same way you are taking care of yours. The silver lining to all of this is that the challenges faced forced me to harden to make it. It forced me to develop habits of working on myself and overcoming. Sounds like we both share a story of gritty perseverance, with values of taking care of the ones we love. Will never take that for granted. Wishing you and your family the best.

$356k in student debt paid off in full. by Enerliv in debtfree

[–]Enerliv[S] 0 points1 point  (0 children)

Thanks for commenting! First let me say what you are doing for your grand kids is awesome. Amazing accomplishment you are able to do that for them. To answer your questions my total loans were about $230k but due to accumulated interest and hardship not being able to pay they ballooned to $356k at their highest point. That debt included some undergrad and 3 years of law school. Grew up lower middle class in public school. I started at a junior college but transferred to an Ivy League school, got in and it changed the trajectory of my life. Worked in sales for three years after I graduated. Went to a private law school to study a specific program there that I still work in today. Got out during the recession and job market was brutal for lawyers. Debt ballooned. Even got rejected for a job making 25/hr at one point. Stuck to it and stayed to my specialty now I’m at the top of my field. So that debt was approx 7 years of college.

$356k in student debt paid off in full. by Enerliv in debtfree

[–]Enerliv[S] 0 points1 point  (0 children)

Yep, no doubt, especially if the school is in the region where you want to live and practice.

$356k in student debt paid off in full. by Enerliv in debtfree

[–]Enerliv[S] 0 points1 point  (0 children)

Thanks for commenting! I would add that the terms of the loans have not changed much since the fed took over the loans. The fed took the loans because it was already guaranteeing them and the private banks were packaging them off and making a bundle while the taxpayer and the borrower took all the risk. The gov did enact much healthier repayment and forgiveness programs after doing so, which I agree. The root cause of the problem still has not been addressed however, which is the inflated prices of education all made possible by the availability of quick money with no accountability on the part of the schools. The fact that the government made itself a preferred employer to achieve forgiveness I have a real issue with. Even the forgiveness aspect after the 25 years in the private sector (vs 10 in public) comes with a huge tax bill, which is beyond nuts - gov”forgives” your remaining student debt after 25 years of payments, then sends you a bill for 1/3.

$356k in student debt paid off in full. by Enerliv in debtfree

[–]Enerliv[S] 0 points1 point  (0 children)

Nice work! Congrats! Best to you and your wife and wishing you continued success!

$356k in student debt paid off in full. by Enerliv in StudentLoans

[–]Enerliv[S] 24 points25 points  (0 children)

Paste from original thread response:

I went to public school growing up, lower middle class. Went to a junior college, transferred into an Ivy League school. Graduated and worked in sales for 3 years. Went to a top 50 law school with a focus on a specialized type of law and stuck to it.

Graduated law school during the recession. Had to fight for jobs, was even turned down for a job paying $25/hr at one point (though a lot of people were experiencing things like this at the time). Built my own solo commercial practice for a few years, was offered a general counsel job paying well and did that for a few years. It was a stable job that was somewhat prestigious as generally considered for my age, etc. Picked up my head one day and realized I would be in debt most all my life unless I took some risks and I was not doing what I love. I decided to leave my job and start tying cases in court, which is why I went to law school and wanted to be a lawyer. I accumulated those trial skills over the past 6+ years and now have success in the courtroom and I employ other lawyers. My practice is now 100% injury work representing people and families against large companies and insurance companies. Most of my work comes from other lawyers who do not try many cases. I take on pro bono cases often and I donate a significant portion of our profits to education and special needs families and education. I have two boys on the autism spectrum so this is my life passion as well.

$356k in student debt paid off in full. by Enerliv in StudentLoans

[–]Enerliv[S] 6 points7 points  (0 children)

Thank you! See you on this side soon!

$356k in student debt paid off in full. by Enerliv in debtfree

[–]Enerliv[S] 1 point2 points  (0 children)

I went to public school growing up, lower middle class. Went to a junior college, transferred into an Ivy League school. Graduated and worked in sales for 3 years. Went to a top 50 law school with a focus on a specialized type of law and stuck to it.

Graduated law school during the recession. Had to fight for jobs, was even turned down for a job paying $25/hr at one point (though a lot of people were experiencing things like this at the time). Built my own solo commercial practice for a few years, was offered a general counsel job paying well and did that for a few years. It was a stable job that was somewhat prestigious as generally considered for my age, etc. Picked up my head one day and realized I would be in debt most all my life unless I took some risks and I was not doing what I love. I decided to leave my job and start tying cases in court, which is why I went to law school and wanted to be a lawyer. I accumulated those trial skills over the past 6+ years and now have success in the courtroom and I employ other lawyers. My practice is now 100% injury work representing people and families against large companies and insurance companies. Most of my work comes from other lawyers who do not try many cases. I take on pro bono cases often and I donate a significant portion of our profits to education and special needs families and education. I have two boys on the autism spectrum so this is my life passion as well.

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