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Please help me repay my Law School Loans
By Wisteria4 (add to contacts)
My name is Jahnavi. I've always worked very hard to better myself, my family and my community. I received partial academic scholarships to both undergrad and law school and worked during both, however I have a massive amount of school loan debt.
I am very frugal and have hardly any credit card debt but I owe a total of $175,000 in student loans, which is roughly a monthly payment of $1,400 for the next 25 years. As interest accrues over the life of loan I will end up paying about $350,000 total! Lawyers are not making what they use to and I am working so hard but struggling to even make my loan payments let alone my rent and other bills. Here's an interesting article from The Wall Street Journal about the dismal outlook for most attorneys today: http://online.wsj.com/article/SB119040786780835602-search.html
Don't get me wrong, I'm not starving to death, overall I have a good life, except for the strain of these loans hanging over me. ALL money that I receive will be deposited to the loan companies and I will post regular updates here as to my loan pay-off progress.
Any donation you could make towards helping me pay off my school loans would be greatly appreciated. I hope that with your help I will one day be in the position to help others in my situation.
Thank you SO much!
In the mood for more giving? Check out my favorite charity - go to http://www.bestfriends.org/ to learn more about and donate to Best Friends Animal Society. This amazing organization is currently helping to rehabilitate many of the dogs seized in the Michael Vick dogfighting case.
Thanks to my friend Rob for finding this inspiring article about how giving makes you happier: http://www.reuters.com/article/domesticNews/idUSN2042446720080320?feedType=RSS&feedName=domesticNews&rpc=22&sp=true
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- Launched Tuesday, March 18, 2008
- Modified Thursday, March 20, 2008
- Viewed 2,955 times
We've raised $499.00, but still need $174501.00!
- $0.00
- $175000.00
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| 1. Anonymous | March 18, 2008 | |
| 2. William Ledebuhr | March 19, 2008 | |
| 3. Robert Spencer | March 19, 2008 | |
| 4. Rachel Silver | March 20, 2008 | |
| 5. Mark Zakrzewski | March 20, 2008 | |
| 6. Donna Miller | March 20, 2008 | |
| 7. Anonymous | March 21, 2008 | |
| 8. Lewis Goldstein | March 23, 2008 | |
| 9. Leela Goldstein | March 23, 2008 | |
| 10. Eric Bahor | March 24, 2008 | |
| 11. Khanh Ho | March 26, 2008 | |
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| 13. jackie thames | March 27, 2008 | |
| 14. Courtney Sheets | March 28, 2008 | |
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| 20. Brie Burge | April 12, 2008 | |
| 21. Cristopher Moran | April 15, 2008 | |
| 22. deebritt schutz | April 18, 2008 | |
| 23. Dave Williamson | April 27, 2008 | |
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Comments (6)
Wisteria4 said:
3/22/08 UPDATE:
Hi it's Jahnavi - thought I would use the comment functions to post some regular updates. My best friend sent me a $100 donation through the mail today! We are on our way - thanks!
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Wisteria4 said:
3/24/08 UPDATE:
Hi me again. This whole thing has been very interesting - I didn't think it would be quite as controversial as people find it. People seem to have no problem donating to extreme causes (i.e. cancer) or to sexual/materialistic causes (i.e. the many donate for girl's fake boobs websites) - but the middle of the road donation seems to be harder for people to get. Some people are extremely supportive, some people have just quietly donated, and those that have been the most vocally opposed to my "audacity" to ask for help have generally been those people I know who are very well off. I'm curious to see where this all goes and I plan to contact The Oprah show and others for more exposure. Hope everyone is great! Thank you for your donations ~Jahnavi
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Wisteria4 said:
3/26/08 UPDATE
More on the "Tuition Game" - Harvard, Yale and the other Elites are replacing loans with grants - if the Ivy Leagues are finally ready to re-commit to education not just profit, then why should the mediocre schools get away with charging an Ivy League tuition for a bottom tier education and a dismal employment network? Kudos again to my biggest fan Rob for finding this article: http://blogs.usatoday.com/oped/2008/03/the-tuition-gam.html
The last paragraph of this article points out that it's possible for smaller non-Ivy League schools to also successfully reduce or all together eliminate tuition. Check out http://www.berea.edu/friendsdonors/fulltuition.asp where all students attend tuition free thanks to endowments and by working at the college.
Such ability to make education free or at least affordable is especially true for law schools as statistically they are the cheapest graduate schools to operate, yet they charge the largest and most inordinate tuition rates of any secondary/graduate school. There has also been a longstanding argument made by many academics that the third year of law school is unnecessary but law schools refuse to shorten their curriculum's to match a two year MBA program term, simply because there's too much money to be made by charging students for that additional 3rd year.
I don't mean to sound bitter. It was my choice to take out my loans and I eagerly did so, truly thinking such debt was a wise and sound investment in my future. That belief came from what I was told by the law schools and ranking publications. Never was I told I would have to pay almost $8,000 to actually prepare for the bar exam or about the thousands of dollars of other costs that come with the "privilege" of being a debt-ridden attorney (such as bar dues and CLE credits). I conducted a tremendous amount of research and soul-searching before committing to law school and its accompanying debt - yet I feel I was misled at every step of the process.
I wrote to Oprah and Ellen yesterday and asked for exposure for this website, but even more so for them to bring to light the financial fraud that the U.S. higher education system has become and how employment statistics and tuitions are inflated as part of a widespread business collusion that turns education into a mechanism for profit not learning.
Please keep those donations coming - I just sent a check to Access Group for $355 from your donations. Life-long interest on just that $355 would have been $800 - so the more I can pay-off sooner, the better!
Thanks :)
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Stewart said:
Young Lady, You should thank your lucky stars that you have an advanced degree that allows you great earning potential. You are among hundreds of thousands of young workers who are paying off education loans. The ones I personally know are taking responsibility for their own commitments. I suggest you do the same.
If you want to be believed in your plight, why not post the name of your law school and a copy of your JD so people can check your credibility? My only other suggestion: I hope you'll conduct more thorough research in representing your clients than you did for yourself before signing up for these loans.
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Wisteria4 said:
04/04/08
I'm not going to respond to the above. If people want to hate/judge/question credibility/whatever, that's their prerogative.
Instead I thought I would post this amazing inspiring story of hope and joy, it's about a man named Jeff and an Eagle named Freedom. It made me smile and I hope it brings a smile to your face too:
http://www.fourwinds10.com/siterun_data/environment/plants_and_animals/news.php?q=1205336491
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rob562 said:
I think Stewart completely missed the point. She wrote that Jahnavi is lucky that she has an advanced degree that allows her higher earning capacity. That is wrong!
The market for lawyers just isn't there anymore. The worst thing about it, is Jahnavi was suckered into going to law school. The law school she attended misrepresents the earning capacity of its graduates. It lied about the amount of graduates that are employed. The school also stated the average salary amount that its graduates earned, but inflated the average amount by not counting its unemployed graduates. It also didn't mention that the survey didn't include all of their graduates.
Jahnavi was simply taken advantage of. She was simply lied to. She simply believed the statistics these schools produce, but didn't know they were wrong until too late.
So everybody donate $3 to jahnavi. Lets get her $10,000 out of debt. I think that should be our goal!
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