- Expert: Law grad can repay entire $215K student loan debt by 2020 if he lives with his parents
Expert: Law grad can repay entire $215K student loan debt by 2020 if he lives with his parents
Posted Sep 23, 2013 3:30 PM CST
By Martha Neil
Despite $215,000 in student loan debt, law graduate Andrew Carmichael Post is luckier than many.
After struggling for a couple of years following his graduation from law school at an unusually young age, he has been able to find full-time work, with benefits, as a computer programmer. Aided by a couple of other ventures, including a teaching gig, he is now earning a gross income of nearly $100,000 annually at age 24, the Los Angeles Times (sub. req.) reports.
And, although his monthly payment on his student loans tops $2,700, he can repay the entire debt, in less than six years, if he continues living at home with his parents, a financial planner tells the newspaper.
Earlier, Post, who started law school at the University of Southern California at age 18 and had a law license by age 22, tried opening his own law firm but found it a tough way to make a living.
"The last time I went into court, I was wearing something that I got at Goodwill," he told the Times. "The two lawyers on the other side were each wearing suits worth more than my car."