Which school?

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BoilerUp
Posts: 26
Joined: Tue Jan 05, 2010 3:32 pm

Which school?

Postby BoilerUp » Tue Mar 16, 2010 11:07 pm

I have narrowed it down to these three schools:

Cleveland Marshall- In state tuition and would come out of law school with $100,000 of debt and be in a city with several law firms.

IU Indy- Even though I am done with undergrad in May at a University in Indiana I am considered out of state (a bunch of BS). Because of this I will come out of law school here with $180,000 of debt. A beautiful city with several law firms but I don't know if the extra $80,000 is worth it for only a slightly better ranked school even though most of family is here and I would love to end up here.

Albany- Again out of state would come out with $180,000 - $200,000 of debt. Great access to potential govt. jobs being in the state capital, beautiful place to live.

This is a very big decision and I would like feedback from individuals with an outside perspective. ITE I would like to be as debt averse as possible but at the same time I dont know if $80,000 extra is worth it to end up in Indy or if that is (like my gut is telling me) too much extra money.

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voice of reason
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Joined: Thu Oct 29, 2009 12:18 am

Re: Which school?

Postby voice of reason » Wed Mar 17, 2010 5:43 am

I'm sorry to say the debt numbers all look very unfavorable here.

Whatever you do, don't take on $180,000-$200,000 of debt to graduate from Albany. Look at your likely salary ($50-$60K?) compared to your debt load. You'll be crushed. Coming out of school with loan debt 3-4 times your income is a recipe for poverty.

Same problem at IU even though it's a slightly better school.

Cleveland is better but still not good. $100K in debt sounds like too much relative to what you'll earn after graduation.

Again, sorry to be a downer.

BoilerUp
Posts: 26
Joined: Tue Jan 05, 2010 3:32 pm

Re: Which school?

Postby BoilerUp » Wed Mar 17, 2010 1:02 pm

Just wanted to add that I understand law school is a long term investment. I am not expecting to have my loans paid off 3 years after school and I am ok with that. I am leaning towards Cleveland because it is the cheapest option (of schools ranked 50-100 and beyond) while still in a good legal market with several law firms near the school which will allow me the opportunity to make connections.

I am very happy to stay in the Midwest with a starting salary of 50,000 to 70,000 because the cost of living in the Midwest is very reasonable.

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holydonkey
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Joined: Fri Dec 18, 2009 1:40 pm

Re: Which school?

Postby holydonkey » Wed Mar 17, 2010 1:04 pm

Just wanted to say Albany in the winter sucks bad. Not the school, the "city". There's almost nothing to do and it gets so cold your car won't start. Don't know much about the law school.

Flanker1067
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Re: Which school?

Postby Flanker1067 » Wed Mar 17, 2010 1:04 pm

I think CM is the right choice. I think that you know this as well.

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deadpanic
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Joined: Sat Oct 03, 2009 5:09 pm

Re: Which school?

Postby deadpanic » Wed Mar 17, 2010 2:19 pm

Flanker1067 wrote:I think CM is the right choice. I think that you know this as well.


TITCR. I don't think you will come out with 100K in debt from CM either as long as your living expenses are reasonable.

No way IU-Indy or Albany is worth around 200K of debt; hardly any law school is worth that.

Unadilla Kayaker
Posts: 165
Joined: Mon Jul 13, 2009 9:01 am

Re: Which school?

Postby Unadilla Kayaker » Thu Mar 18, 2010 12:08 am

deadpanic wrote:
Flanker1067 wrote:I think CM is the right choice. I think that you know this as well.


TITCR. I don't think you will come out with 100K in debt from CM either as long as your living expenses are reasonable.

No way IU-Indy or Albany is worth around 200K of debt; hardly any law school is worth that.


+1; Keep it under 100k




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