Re: Cycle of Debt: What are my options?
"Paying 10-15% perpetually on maxed credit cards is not wise." - this is ture for 99% of people.
In principle I agree with you both, but law school is a somewhat unique situation. 1/2 way through most students have a pretty good idea - based on class position and the clerkships and jobs that students a year and two ahead of them are getting - what their salary range will be when they take a job after they graduate.
Of course it isn't foolproof, but it's pretty safe. I have a lot of friends in law school or recently out (2nd tier and average schools) and they all reduced spending during school but racked up a little debt along the way. No one got rid of cable 12k isn't outrageous coming out of law school. It's probably better than most.
Get out of school. Pay the debt off quickly and max out your 401k for the first few years. You'll be fine.
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