Nice job of conflation. You do that a lot when you
Post# of 65629
(Total Views: 49)
Posted On: 12/27/2017 11:01:12 PM
Nice job of conflation. You do that a lot when you have no case to substantiate.
How did Obama pay for school was the question.
How did Obama pay for school was the question.
Quote:
How did Barack Obama afford his law school tuition from Harvard and live in the Boston area?
Terrence Yang, Obama Harvard Law classmate, 2008 AAPI finance co-chair, elector, delegate
Updated Jan 26
Like many law school students and other university students, the President was frugal, had student loans and made money where he could.
Here's how Barack Obama - whom I did not know well (but we have several mutual friends) - was able to afford law school and live in the Boston area. You should be aware - among other things - that the Boston area includes not good areas that are pretty cheap to live in.
You should note that about 2/3 of Harvard Law students did the exact same thing Obama apparently did - we were frugal, took out loans and made money where we could. Same goes for most law students in America, probably throughout history.
First, the President kept his costs low. He even skipped his graduation because there were a few weeks from when finals ended to when graduation occurred. My recollection was that after finals, he flew back to Hawaii to see his mom and didn't return. I don't know the reason. But leaving early and not flying back was consistent with saving money - rent and plane fare.
Second, he took out student loans when he was at Harvard.
chicago.suntimes.com/poli...
About 2/3 of Harvard Law students took out need-based loans at the time.
Third, the President took advantage of opportunities we had as Harvard Law students to make good, easy money. For example, he worked at Sidley & Austin Chicago as a summer associate in 1989 where his annualized salary was - IIRC - $83,000. Being a summer associate is about the best job you can get because you get paid like a real associate and you don't have to do much work.
Anyway, adjusted for inflation, that $83,000 annualized is now about $160,000. US Inflation Calculator
How do I know the President was paid about $83,000 annualized? Because I was a same year summer associate with the President at the exact same firm, time (well, within a few weeks of each other) and location - Sidley Austin Chicago.
(This is where I like to remind folks that the President is several years older than me because he did community organizing for years before attending law school whereas I went straight from college).
Anyway, more on the President's frugality here.
He lived in the basement for $950 a month in not even the better section of Somerville. That's like living in the not great area of Civic Center in San Francisco, or the not great area of Queens in New York City. Note: I live in Civic Center, San Francisco. Aspirationally rebranded as Mid-Market. I have stayed in Queens for several weeks. No hate.
(0)
(0)