Suicide and Student Loan Debt

Do you ever think of suicide when it comes to your high student loan debt?

(Need help? In the U.S., call 1-800-273-8255.  National Suicide Prevention Lifeline)

If you are wondering if you should end your life due to student loan debt, you are not alone.  No, I have never thought about ending my life over student loan debt (there is no reason to with IBR and with the fact that lenders don't really care about student loan debt).  Yet, many people focus on the number that they owe, a number that can oftentimes be quite high.  They think that the life they see on television can not be attained as a result of their high student loan debt.  And the result is that some people kill themselves because their student loan debt is so high. 

There is no reason to end your life due to high student loan debt, however.  The reality is that student loan debt is something that many people have.  Even some very successful people carry student loan debt with them. 

First, before you lament over your debt level, consider the fact that lenders oftentimes view student loan debt as 'good debt.'  You may be thinking that there is no such thing as 'good debt' but you are wrong in this regard.  Student loan debt that is constantly paid on time shows that you are a good credit risk.  By showing that you are paying off your student loan debt and that you have college experience, you show lenders that you have the capacity to earn more than a person with no college experience and you are also showing lenders that you are a responsible borrower.  If you have had trouble paying on your student loans in the past, do what you can do to become current again.  There are some amazing programs like IBR out there (which means you can pay a very small percent of your monthly income towards your loans, and if you are making less than $30,000, the amount you will be paying is VERY small indeed).

Some people like to whine about IBR and create all sorts of conspiracy theories about how it may not be around, or how something else that is catastrophic may occur.  Do not listen to such conspiracy theories.  Negative thinking is what leads people to suicide.  You must think positive and see the good that is in life.  And there is plenty of good out there.

Life is not about money, prestige or being elite.  If you think that then you will end up in a world of hurt.  Life is about enjoying the time you have been given on Earth.  It's about learning, discovering, and being a part of the human family.  It's about being a steward to the Earth and asking certain questions that may not be able to be answered.  It's about thinking and reflecting.  It's about being thankful for the opportunity to live.  How many people who end their lives are thankful?  I strongly believe that those who are not thankful for the life that God gave them can never find happiness.  That's why some people are so miserable in life. 

The Media Often Lies

There are always a few people who will state that their debt has caused them to not be able to do the things that they want to do.  However, many of these people never tell the whole story.  News sources love to exaggerate and sensationalize the drama that debt causes in people's lives.  Sadly, many young (and older) people listen to these sources and think that their lives will turn out in the same way.  You are not the same as the person on television, however.  You are a different person.  News stories lie.  People may not understand that, but much of what you see on television is NOT truth.  Much of what you read in print is NOT the truth.  Exaggerations sell.   Reality is boring to many.  Honest stories don't sell advertisements like lies do. 

What do you want out of life?



If you are considering ending your life over student loan debt, instead, ask yourself is your life worth ending.  Take a moment to think about what you are glad to have.  Life is truly a precious thing, and negativity is never worth dwelling on.  Student loan debt is a reality for many, but there are ways out.  IBR is just one way to make debt payments manageable.  Call your student loan debt servicer and ask about getting on a payment plan such as IBR or getting a deferment.  Ask yourself if you can spend less to survive.  Ask yourself if your house is too big (I know a person who has one child and a three bedroom house and complains of student loan debt constantly).  Can you get a smaller place and save some money?  Ask yourself what your goals are.  Do you want to purchase land?  If so, read my excellent article on purchasing land/a home with student loan debt. 

Do you feel that student loan debt is making it so you can't get married?

Many people think that high student loan debt means that they can not get married or have a family.  There is no reason why student loan debt should make it so you can not procreate or marry.  Many people have happy marriages and service student loan debt.  I have been married for twelve years and carry high student loan debt.  My wife also has a good deal of student loan debt and will have much more when she is finished with school.  Yet, we never fight or argue about it.  Student loan debt is a fact of life in the modern world.  It is something that people will have to adapt to if they want to go to college.  People who think that they can not get married due to having student loan debt are much more likely to think of suicide.

Let me make myself abundantly clear right now:

YOU.  CAN.  GET.  MARRIED.  WITH.  STUDENT.  LOAN.  DEBT.

If you think that you can not have a happy life with student loan debt, think again.  If you think that you can not have children because you have student loan debt, THINK AGAIN.

Life is a precious gift, and you have to do what makes you happy in life.  You have to get over this idea of prestige and being elite.  These thoughts that the media has instilled in people is not based on reality.  There is no such thing as a truly elite person.  Everyone poops.  Everyone gets sick.  Everyone makes mistakes.  Everyone dies.  Money is not all there is to life.  Many so-called elite people spend their lives wanting more or wanting something else.  Many so-called elite wish they had a happy relationship with a life partner or a good relationship with God. 

Take some time to GET OFF THE INTERNET and spend time in the real world.  Go meditate, do some yoga.  Pray.  Clear your mind of the fantasy world that exists online.  Clear your mind from what others have told you that you can and can not do.  I did what I wanted to do, and I am happy with my life.  I owe HUNDREDS OF THOUSANDS of dollars, yet I will NEVER kill myself due to student loan debt.  Life is far too precious to die over something like that.  Millions of people have student loan debt, and hundreds more acquire it every day.  It does not stop people from finding the life of their dreams.  It does not stop people from getting married.  It does not stop people from thriving.  School has given you something, even if you don't see it.  Ask yourself if you have grown since starting college.  Ask yourself if you think about the world different.  Perhaps you don't remember much of what you learned, but chances are you are a much different person as a result of college.  You have hopefully grown, and you can still continue to grow.  I feel that I got what I paid for with my debt, and it will take a while to get rid of.  But I am glad I have it.  Everything good in life has a price.  My amazing education that has allowed me to see and understand places all over the world was worth the cost. 

Legal Job Outlook for 2014

The best year in law since 2006!

"What is the lawyer job outlook like for 2014?"

This is a question that hundreds of people have asked me, and it needs to be addressed.  I don't know when I became the expert on the future legal job market, but the reality is that many people come to this blog with such questions in mind, so I figured I would take this chance and talk about the 2014 legal job market in great detail.

First, there is actually little information out there on the 2014 job market.  Many students are holding their breath, so to speak, when it comes to getting jobs in 2014.  Many people who are taking the bar this July and next year are going to be largely entering the job market at the end of 2013 and the beginning of 2014.  That means that people want to know what the job market is going to look like, but few people really know.

I do not know what the legal job market looks like in 2014, but I can give you some of my guesses.  Time will tell whether or not these guesses prove to be correct.  However, let me tell you right now that I have often found that I am right about gleaning information.  Whether you trust what I have to say is up to you.  However, I would like to state that I have it on a pretty dang good hunch that 2014 is going to be better than 2013 is turning out to be!

Why?

First, there are less law school applicants now than ever.  Law schools are cutting enrollment because the profession cares about not saturating the market.  Even if law schools were not cutting enrollment, I believe the legal market would be fine.  As an economics major I pay a great amount of attention to how the market works. 

Less law students are enrolling in 2013, and that means in 2016 there will be more jobs.  Up until 2016, including during 2014, the legal job market will steadily improve.  More and more baby boomers will be retiring from the legal field.  More jobs will begin to open and employers will know that there is a smaller pool to grab from.  While this year may be hard for some students, those students who volunteer, take lower paid jobs, and who continue to actively improve their legal skills will most likely find the kind of jobs that they are looking for. 

However, let me say right now that those who let their law skills slide will have a much tougher time getting a legal job.

"Should I go to law school if I am an older student?"

"Will I be able to find a legal job as an older student?"

Define older.  Do you mean 30s, 40s, older?  50s?  Yes and yes, you should go to law school if you think that you want to practice law. 

One lawyer had this to say about finding a legal job at an older age:

"[A]s far as firms looking for young whipper-snappers to work those 80-hour weeks, perhaps some firms do, but I think most firms realize that a person a few years older is more likely to have developed a professional work ethic (as opposed to just an academic work ethic--and they're very different), and is also likely to know what he is getting into."

Law firms do want older employees.  While some state that law firms only want young employees, the reality is that their reasoning is off in left field.   Law firms care about the bottom line, money.  Older attorneys have relevant job experience and have a lot to give to a firm.  Law firms do not want children running around.  They do not want to be a babysitting outfit.  I have gone to law school with older students, and I must say I see a HUGE difference in maturity between law students who are young and playing with their phones in class and the geriatrics (just kidding) who sit in the front row, engaged in studying.  In fact, I would not be surprised if it was the old fogeys were who reeling in the top grades and high ranks. 

In short, go to law school if you want to and if you are old, do not let it hold you back.  And if you are worried about 2014 being a bad year, forget about it!

As for me, it's time to do some naked yoga and perhaps watch some Dr. Who.

I have a paying legal position

To my critics who say otherwise, I do have a paying legal position that will exist after law school.  Further, this position has allowed me to take time off to go study for the bar outside of the country. 

For those who do not believe me, that is fine.  I do not acknowledge my critics much more, because I have fully proven that they are incorrect.  I now know that finding a legal job out of law school is not only possible, but it is quite easy if you know where to look.

For example, my current position found me.  At least, I do not remember applying for the position, and after going through the few companies that I did apply for (seven at the most this year), I have felt perplexed how I was chosen.  Either way, I was hired on the spot and have enjoyed my time so far with this firm.  The people are quite nice and helpful.  The law partners are respectful and well known not only across the city, but nationally.

Again, I did not even have to apply for a legal job.  For those who say the legal economy is broken, my experience, and the experience of other students that I have been talking to proves that the naysayers are often wrong.  Of course, it is very hard to prove that over the internet, and I really do not care to.  I have my own life, and I am very happy with it.  I am blessed to have this job, and I do believe that it is a part of my faith, my outlook on life, and my thankfulness to God that has helped me to find this position.  I honestly do believe that those people who are not thankful for what they have will never be happy. 

Furthermore, I do not post the information on having found a legal job to brag.  I hope that all of my readers and law school graduates find success in their endeavors.  I had a strategy in mind for finding a legal job, a strategy that I thought was sound (and no, it's not blindly sending resumes, which I am against).  I will not be able to pursue that strategy right after graduation because I have a job. 

For those of you who thought this blog would be interesting, because I would be spiteful for not finding a job, I am sorry to have disappointed you.  Even if I did not find a job I would not be spiteful.  Instead, I have other options in life.  I would be content teaching English overseas (in fact, I will be taking the TOEFL after the bar) and it is something that I may do in the future.  Furthermore, I would be content going back to school if the legal economy was as bad as some say and getting a higher degree in Economics. 

Life is full of options.  Those who do not see the options in life are those who sell themselves short.  Of course, I try to pound this point home, but it falls on deaf ears.  But that is not my problem.  At the end of the day you have to live with yourself.  For those of you who are reading this behind the comfort of your computer screen, take a look in the mirror, and ask yourself if you are really who you wish you were.