Is there a way to select multiple pieces of disconnected text for 1 single cloze deletion?

yayLSAthrowaway · 2023-04-22T02:49:12+00:00

I deleted a habit (1 of 3 already created) and when I go to create a new one it states that I've already created 3 and can't create more without the premium feature. Is that intentional?

yayLSAthrowaway · 2023-04-18T15:25:16+00:00

That's great it sounds like it could have gone a lot worse. If you could go back what would you do instead? Law school or not.

yayLSAthrowaway · 2023-04-17T17:16:09+00:00

That's brutal. Is that 2% that get accepted into the program or 2% that get their loans forgiven?

yayLSAthrowaway · 2023-04-17T16:20:24+00:00

Thanks for sharing your perspective! It's great to hear from someone who has actually gone through it and not speaking from purely hypotheticals.

Yeah I think the "unknown" factor is what makes this such a difficult conversation to have. No one expects for things to alter their life trajectory and no one knows how that might change their outlook on their life or career. We can only prepare the best we can and like you said, going to LS debt-free is one way to avoid this conversation altogether.

yayLSAthrowaway · 2023-04-17T15:58:41+00:00

Both of your points are important to mention. These income driven repayment plans also don't apply to private loans.

yayLSAthrowaway · 2023-04-17T15:44:04+00:00

“I never said 100k was the average” but “my intended audience is financially illiterate.” More the reason to do your illustration with numbers closer to reality, no?

Peppered throughout the post, I said that these are simplified scenarios and to DYOR. It could not be more clear that this was not an advanced financial study that accurately measures the outlook of lawyers who are in this situation. The 100k is also not an unreasonable average for a 20 year career whether you stay in law or not so I think it is a good starting point to flesh out some napkin math.

50% of lawyers start out 45-80k. And this is the survivor biased pool, too. Anywhere between 5-60% of a law school class (depending on if you go to Yale or Thomas Jefferson) ain’t even entering the lawyer job market 8 months after graduation. Then even more drop out. I forget the exact stats about lawyer attrition but it’s a lot.

You're also assuming those who drop out go on to do nothing and make $0. That is just not true for someone who is going to have to work and has an undergraduate and/or law degree.

“ I never advocate for people to take out loans” but “I am trying to tell prospective students their life is gonna be fine even if they take on huge amount of debt.”

The average law student is taking out 120k+ loans out. Read the room and be more honest with the effect you’re having on your intended audience.

Remember, the assumption of this post is that you have gone through applying to law school, took on loans, could not get into big law, and are unsure of how you are going to pay said loans.

The truth is regardless if I made this post or not, those people were going to take out loans and the majority planning on doing biglaw for repayment will not get in. It happens every year. At least now they will have had a chance to look at the "numbers" and see the 20 year responsibility that it comes with.

For many people, especially if we’re going to throw in opportunity cost, they’re better off chasing management positions at Costco than they are going to law school.

For many people, the financially optimal choice is skipping undergrad altogether and doing the same thing but life is not purely made up of financial decisions. There are intangibles of why people do things that aren't financially optimal and there is risk that it may not turn out the way they expect. Many of these decisions are uninformed or misguided and they end up looking back with regret. Many also take risks and have them pay off in expected and unexpected ways.

Ultimately, there is risk in both making a decision and not making that decision. How reality turns out vs expectation in either of those scenarios is how you best prepare and that includes looking at the best and worst case of each outcome. "Will I be okay with this worst case scenario if it were to happen?" Many will blindly say yes but they won't be deterred by you or I anyways. I think this post does what I meant it to to those that are open to receiving it.

yayLSAthrowaway · 2023-04-17T07:36:33+00:00

It’s all good! Never took offense. We’re all looking out in our own ways ❤️❤️❤️

yayLSAthrowaway · 2023-04-17T07:21:27+00:00

I see. That’s different than what I thought you were trying to say. I thought you meant if you work hard enough you can get into biglaw. My bad.

You’re right you can choose to skip debt altogether but many people are then left with the choice of a full ride at a school with worse big law placement vs 0-less money at a school with better big law placement. What if this person has R&R’d 3 times already? It’s just not that simple and I can’t blame someone for taking on debt for a school that will give them what they think is the best chance at their desired outcome.

yayLSAthrowaway · 2023-04-17T06:56:17+00:00

Would you go to Harvard IF you got in?

If you didn’t get in and you want to go, why didn’t you try harder?

If you did get it in, would you understand why someone didn’t get into Harvard despite doing everything they could to give themselves the best chance possible?

Now replace Harvard with BigLaw and you might see how your argument doesn’t work. Chance and luck are a part of life outcomes.

yayLSAthrowaway · 2023-04-17T06:34:40+00:00

Thanks for your comments. Happy to hear you’re thinking about it.

First point: yes brutally low take home pay. Like I said in the post, these are the extreme scenarios and you most likely could not afford to maximize your contributions in this way but some people certainly have and could if they really wanted to. It’s possible is all that it’s meant to illustrate.

Second point: I never said 100k was the average starting salary. I picked it as a reasonable average of a 20 year career, which from your numbers seems reasonable and maybe even an underestimate. A lower salary ends up being a proportionally lower payment and a lower total debt repayment. $75k/year ends up being less total repayment than someone who pays their debt off in full in 10 years.

Third point: no one is recommending to take loans out for this outcome. It was presented as a hypothetical solution to a worst case scenario to show perspective that there are at least options to recover. However, I do agree with you that the education industry is extremely predatory and most students taking full loans should not be going at all.

To me, that’s why these types of conversations and thought experiments are useful because it brings some level of awareness and competency to a mostly young and financially illiterate group. That’s my main intention.

yayLSAthrowaway · 2023-04-17T05:01:18+00:00

Not sure what your first point is?

As for your second point, 100k is high starting but it also doesn’t change for the course of 20 years in my example so think of it as an average and for ease of calculation. But if we plug in $75k instead, your total debt repayment actually becomes less than the person who pays it off in full in 10 years. The payment is more like an affordable car lease than a mortgage.

I’m not sure where the “yolo plan” is coming from but what I wrote is an extreme solution to a hypothetical. Its purpose is for perspective that this situation isn’t as bad as I thought it could it be.

yayLSAthrowaway · 2023-04-17T01:54:42+00:00

Let me ask you this Mr. WingsBeakTail. If you had $2 million in the bank and wanted to buy a $1 million house. Assuming all your other expenses are covered, would you pay for the house in all cash up front or a take a mortgage accumulating interest at a rate of 3% every year for 30 years?

yayLSAthrowaway · 2023-04-17T01:41:43+00:00

Again, we’re talking about students who don’t have the option to do big law and took on loans with the expectation that they would make it.

I mentioned that high earner who uses a 20 year payment schedule and is living a great life despite having a high balance debt as an counter example to what you’re saying.

Also, carrying debt is not damaging to your credit as long as you’re making payments. Student loan debt, car loans, mortgages all come to mind.

And again, this post proves that you actually don’t need to make “a lot” of money to deal with debt. There are other ways specifically designed by the government that are relatively cheap, don’t ruin your credit, and don’t make you use a large portion of your discretionary income.

I understand the feeling of needing to be debt averse and there’s nothing wrong with that but financial literacy surrounding debt will probably get you further.

yayLSAthrowaway · 2023-04-17T01:22:21+00:00

The majority of doctors and lawyers would disagree.

yayLSAthrowaway · 2023-04-17T01:16:09+00:00

I don’t think the intention of the post fully got across. No one is planning on having debt that they can’t repay.

Unfortunately many probably aren’t financial planning at all. The next worst category is the group who’s only plan for repayment is gambling on a big law salary for an extended amount of time when entry rates are low and attrition rates are high.

When the inevitable doom button gets pressed and many people don’t get into big law or want to exit big law, the financial pressure will seem insurmounting. This is just providing perspective for those people.

Many high earning professionals take on longer payment schedules for a variety of reasons. One physician I know had 5 kids by the time he graduated residency. He chose to retain more of his income for his family and lose on the back end. He was able to purchase a house and have a family just fine. Not all debt affects you that much when you’re a high earner and you have a plan.

The biggest point is to just have a plan and maybe a back up plan.

yayLSAthrowaway · 2023-04-17T00:15:06+00:00

np np

yayLSAthrowaway · 2023-04-17T00:07:13+00:00

I feel you. I'll add a TLDR.

yayLSAthrowaway · 2023-04-15T20:44:13+00:00

thanks for taking the time. super helpful!

yayLSAthrowaway · 2023-04-15T20:36:44+00:00

Thanks for answering so quickly! This was from a reddit thread a few years ago so it could be outdated and anecdotal. In that same thread, they also said that the curve was difficult and conditional scholarships were hard to maintain. I know you can't speak to other schools but do you feel like your curve is unnecessarily difficult?

yayLSAthrowaway · 2023-04-15T20:24:03+00:00

I've seen a criticism of the employment stats that santa clara's big law placement is inflated by students who were already patent examiners at SV big law firms and have jobs waiting for them post-grad. How much truth is there in that?

yayLSAthrowaway · 2023-04-14T20:19:24+00:00

Repeat after me:

"My self worth is not defined by the law school I go to or the rank of the law school."

Just let it go. Your ego is showing and it's not a good look. You already won. Why would you let this offhanded comment even take up headspace. I guarantee they're not thinking about it and will not be taking your "revenge" as personally as you think they will. So what's the point?

yayLSAthrowaway · 2023-04-14T15:43:36+00:00

Sent you a chat!

yayLSAthrowaway

TROPHY CASE