Harvard vs. Michigan (Darrow) vs. Duke (Mordecai)

(Rankings, Profiles, Tuition, Student Life, . . . )

Which would you choose?

Harvard
85
41%
Michigan (full tuition Darrow)
83
40%
Duke (full tuition Mordecai)
41
20%
 
Total votes: 209

fortissimo
Posts: 597
Joined: Sun Jan 24, 2010 11:05 am

Re: Harvard vs. Michigan (Darrow) vs. Duke (Mordecai)

Postby fortissimo » Sun Feb 14, 2010 5:30 pm

scribelaw wrote:
EijiMiyake wrote:
dutchstriker wrote:
Tangerine Gleam wrote:Considering that you're thinking public sector in the long run -- or, more importantly, that you're pretty open-minded and unsure about what field you really want to pursue -- I'd definitely say take one of the full rides. You'll have a free JD from a top school and no debt to weigh you down. If you may only be interested in a few years of Biglaw, I see especially big benefits to having low debt; you'll have the freedom to move laterally into various career paths without having to worry about making a few decades of $1200 monthly payments for your Harvard education.

You may already know this, but any job in nonprofit, government, or academia qualifies for Harvard's LIPP, even if it is not law-related. Just for the OP to keep in mind.



LIPP is great, but let's be real - the debt will still be a noticeable burden on a 60-80k salary.

According to Paycheck city - 60k yields a monthly salary of ~ 3100 in CA. paying 500 of that won't break you, but it will still be tough to save for a home, take nice vacations once in awhile, or buy a car.


I don't know about CA, but only taking home $3,100 from a salary of $60k isn't right. At that salary, your federal taxes should be in the 17-18 percent range (including social security withholding). If you're in govt work, health care premiums will be negligible and most likely, they'll have a pension plan rather than a 401k to which you contribute. Your take-home pay would be more like $4,000 a month.


I think your take home pay would fall somewhere between the two, somewhere around 3500. CA's income tax rate for a salary between 47,000 and 1 million is 9.3%. At least half of what you take home will probably go towards rent. Given the COL, at ~3500 month, truth is you will probably have a lot of trouble saving down payment for a house or saving for retirement.
Last edited by fortissimo on Sun Feb 14, 2010 5:34 pm, edited 1 time in total.

keg411
Posts: 5935
Joined: Tue Apr 21, 2009 9:10 pm

Re: Harvard vs. Michigan (Darrow) vs. Duke (Mordecai)

Postby keg411 » Sun Feb 14, 2010 5:33 pm

Unless you really want the prestige or want the opportunity for an extremely prestigious position, Duke or Michigan. And since you want the South, I'd say Duke, since they are a HUGE name there.

Yes, there have been reports of people not getting BigLaw jobs from T14's the past year or so. But if you take the free ride and want PI down the line anyway, this would NOT be a worry for you because you will have no debt! While other students will NEED BigLaw jobs or rely on LRAP, you will be in a great position. So unless you need prestige and feel you can't pass on that opportunity (some can't), TTMAR at Duke.

User avatar
EijiMiyake
Posts: 277
Joined: Sat Sep 13, 2008 12:29 pm

Re: Harvard vs. Michigan (Darrow) vs. Duke (Mordecai)

Postby EijiMiyake » Sun Feb 14, 2010 5:38 pm

fortissimo wrote:
scribelaw wrote:

LIPP is great, but let's be real - the debt will still be a noticeable burden on a 60-80k salary.

According to Paycheck city - 60k yields a monthly salary of ~ 3100 in CA. paying 500 of that won't break you, but it will still be tough to save for a home, take nice vacations once in awhile, or buy a car.


I don't know about CA, but only taking home $3,100 from a salary of $60k isn't right. At that salary, your federal taxes should be in the 17-18 percent range (including social security withholding). If you're in govt work, health care premiums will be negligible and most likely, they'll have a pension plan rather than a 401k to which you contribute. Your take-home pay would be more like $4,000 a month.


I think your take home pay would fall somewhere between the two, somewhere around 3500. CA's income tax rate for a salary between 47,000 and 1 million is 9.3%. At least half of what you take home will probably go towards rent. Given the COL, at ~3500 month, truth is you will probably have a lot of trouble saving down payment for a house or saving for retirement.[/quote]

I currently make approximately that much in CA, and it's ball park correct. I also max out my 401k and have shitty benefits, so take that fwiw.

I was just trying to point out that LIPP will keep you above the poverty line, but it's still going to be tough financially at a point in your life at which you'll want to be spending on/saving for other things.

I think I'd still take HLS though, over any lower-ranked school except for the Hamilton at Columbia (excepting, of course, other personal/location considerations that would tip the scales in another direction.)

User avatar
scribelaw
Posts: 771
Joined: Thu Jul 02, 2009 3:27 pm

Re: Harvard vs. Michigan (Darrow) vs. Duke (Mordecai)

Postby scribelaw » Sun Feb 14, 2010 5:41 pm

fortissimo wrote:I think your take home pay would fall somewhere between the two, somewhere around 3500. CA's income tax rate for a salary between 47,000 and 1 million is 9.3%. At least half of what you take home will probably go towards rent. Given the COL, at ~3500 month, truth is you will probably have a lot of trouble saving down payment for a house or saving for retirement.


A 9.3 percent state income tax rate is insane. Glad I don't live in CA...

User avatar
rayiner
Posts: 6184
Joined: Thu Dec 11, 2008 11:43 am

Re: Harvard vs. Michigan (Darrow) vs. Duke (Mordecai)

Postby rayiner » Sun Feb 14, 2010 9:02 pm

If you want PI, you'd be an idiot not to take Harvard. Thanks to the federal IBR, you'll not pay more than 1 year's salary total (including interest) on your law school loans.

09042014
Posts: 18282
Joined: Wed Oct 14, 2009 10:47 pm

Re: Harvard vs. Michigan (Darrow) vs. Duke (Mordecai)

Postby 09042014 » Sun Feb 14, 2010 9:16 pm

rayiner wrote:If you want PI, you'd be an idiot not to take Harvard. Thanks to the federal IBR, you'll not pay more than 1 year's salary total (including interest) on your law school loans.


+1

User avatar
dutchstriker
Posts: 276
Joined: Wed Aug 12, 2009 3:15 pm

Re: Harvard vs. Michigan (Darrow) vs. Duke (Mordecai)

Postby dutchstriker » Sun Feb 14, 2010 11:49 pm

rayiner wrote:If you want PI, you'd be an idiot not to take Harvard. Thanks to the federal IBR, you'll not pay more than 1 year's salary total (including interest) on your law school loans.

I'm planning on researching this myself eventually, but would you care to elaborate?

User avatar
rayiner
Posts: 6184
Joined: Thu Dec 11, 2008 11:43 am

Re: Harvard vs. Michigan (Darrow) vs. Duke (Mordecai)

Postby rayiner » Sun Feb 14, 2010 11:53 pm

dutchstriker wrote:
rayiner wrote:If you want PI, you'd be an idiot not to take Harvard. Thanks to the federal IBR, you'll not pay more than 1 year's salary total (including interest) on your law school loans.

I'm planning on researching this myself eventually, but would you care to elaborate?


Fed IBR caps your payments to 10% of salary and for PI forgives your loans after 10 years, tax-free. So you never pay more than 1 year of salary (averaged over the 10 year period obviously) on your loans as long as you stay in PI.

User avatar
beesknees
Posts: 458
Joined: Wed Nov 11, 2009 10:46 am

Re: Harvard vs. Michigan (Darrow) vs. Duke (Mordecai)

Postby beesknees » Mon Feb 15, 2010 12:27 am

.
Last edited by beesknees on Sun Dec 05, 2010 1:10 am, edited 1 time in total.

insidethetwenty
Posts: 221
Joined: Thu Sep 11, 2008 8:00 pm

Re: Harvard vs. Michigan (Darrow) vs. Duke (Mordecai)

Postby insidethetwenty » Mon Feb 15, 2010 2:22 pm

beesknees wrote:Once you take on education debt, you are obligated to pay it and that much is certain. Whether there will be an institutional or federal program to sufficiently bail you out of said debt is not.


Common sense on the ascent!

betsyanna
Posts: 44
Joined: Tue Mar 06, 2007 6:01 pm

Re: Harvard vs. Michigan (Darrow) vs. Duke (Mordecai)

Postby betsyanna » Mon Mar 08, 2010 10:20 am

congrats on your cycle, pbh!

i chose the darrow over the mordecai three years ago, mostly because i already lived in ann arbor. i don't think you can go wrong with either of those choices. base it on lifestyle/happiness factors, i think. you'll get a good job wherever you go!

pm me if you have any specific questions. good luck with your decision!




Return to “Choosing a Law School”

Who is online

Users browsing this forum: Google [Bot] and 1 guest