Thursday, December 7, 2017
Above the Law, How A Solo Tax Lawyer Paid Off $150,000 In Student Loans In 7 Years Without Biglaw:
I want to share an interview I had with a solo tax attorney who was able to pay off his student loans from undergrad, law school, and a tax LL.M. degree within seven years even though he did not anticipate being a solo for long. This interview will be divided into two parts.
When did you finish school and how much did you owe then?
I finished school in 2008 and I think I owed about $150,000. My federal loans were consolidated at 2% while my private loans were on a variable interest rate which were between 4-7%.
Which schools did you attend?
I went to a relatively low-ranked law school. Then I got a Tax LL.M. at one of the schools on this list.
Where did you work when you first graduated?
I did very well academically at my Tax LL.M. program, so I thought I had a shot at a major law or accounting firm. But I graduated just at the start of the recession. And firms are still picky about where you went to undergrad and law school.
I ended up working for a solo practitioner where the primary clients were small businesses and individuals. The firm was focused on tax litigation and tax dispute resolution. It’s not the job I had in mind when I graduated, but I learned a lot of useful skills.