Monday, August 24, 2015

Income based repayment

It's been so long since I've checked this website that I had forgotten the login information. Go figure.

Income based repayment, or IBR, is everywhere these days. For example, this:

I am not on IBR. However, several individuals I graduated law school with in 2011 have told me they are. I suspect a larger percentage of my graduating class is on IBR, honestly.

I have met a few younger attorneys in the local area who are. Some with staggering amounts of debt.

I recently found out a legal secretary I work with is on IBR. She does not have a law degree, but she cannot obtain adequate income in the legal field to cover her student loan debt. I honestly do not know what her total debt is, her monthly payments, nor her annual income at the firm. I could ask, I suppose, but I'd prefer not to. It was not something she seemed particularly happy about.

Shocking is the word that comes to mind. Just shocking. I had not realized that even the support staff in this idiotic rat race were barely making it. That was a first for me.

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