Monday, June 23, 2008


Given the crazy materialism of the past couple of years I’m actually in relatively good shape on the consumer debt front. I currently have $18K in debt parked in a 0% APR credit card. To give you some context, at some point, I probably had double or triple that amount in consumer debt. I’ve been setting aside a certain amount of $ a month to pay that down, even as I maintain a savings target every month.

Things are more dire on the student loan front. After 5 years undergrad at one of the most expensive universities in the country and 3 in an Ivy League law school I still have a ton of student debt to pay off. I’m actually way better off than some of my law school buddies, but this is just unacceptable for someone who wants to make it on a limited amount of interest a year.

Simplicity Meets the Enemy
The current plan calls for continuing to pay a certain amount every month toward my last remaining credit card until it is paid off. And as for the student loans, I have a big lifeline that I can rely on. As it turns out, my law school will pay down my student loans to the extent I have a public interest law-related job. I want to treat this in a later post, but basically I want to find a law-related job for a nonprofit that focuses on sustainability and/or environmental protection issues. It looks like I can kill two birds with one stone: transition to a job that I love and pay down my school debt, all at the same time. :)

If all goes well, I should be done paying down my consumer debt by September of 2009. I can probably have my law school pay down my school debt starting in January 2010, hopefully right after I leave my current job.

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