What do you think about NYU at Sticker

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flawyer
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What do you think about NYU at Sticker

Postby flawyer » Wed Mar 24, 2010 11:17 am

NYU is one of the, if not the, most expensive law schools in the country/ world. How good of an investment do you think it is to attend NYU Law at sticker? NYU is a great school with great employment prospects, conversely, this economy really changes every investment prospect.

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doinmybest
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Re: What do you think about NYU at Sticker

Postby doinmybest » Wed Mar 24, 2010 11:24 am

flawyer wrote:NYU is one of the, if not the, most expensive law schools in the country/ world. How good of an investment do you think it is to attend NYU Law at sticker? NYU is a great school with great employment prospects, conversely, this economy really changes every investment prospect.


I'm looking at a T10 for sticker (still deciding though), ITE it's so difficult to decide whether T14s are worth sticker anymore. NYU tuition plus cost of living could be more than $70K a year... thats a ton. How do we know when sticker is worth it? Is it really just a 50/50 gamble? Either we can pay back the loans, or we can't? Sorry to respond with another question, but I think this issue is on a lot of our minds considering every 3rd thread is a "Is the T14 at Sticker worth it" thread. I wish there were some definitive answers to these questions.

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ravens20
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Re: What do you think about NYU at Sticker

Postby ravens20 » Wed Mar 24, 2010 11:28 am

It really depends what you want to do and what your other options are. If you want NYC biglaw or are interested in public interest then you could probably justify spending that much. Otherwise, you might be better served taking money at a slightly lower ranked but still extremely good school (UVa/Mich/etc).

I'm most likely attending NYU at sticker (assuming that I don't get any money from them). But I have my eyes set on public interest. The combination of NYU's LRAP + IBR makes the debt I'm diving into bearable, if not basically negligible. And the opportunities available in public interest for NYU grads, the funding in 1L and 2L summers, the presence of the New York public interest fair at NYU, and the chance to go to a school I like (and a city I like) makes me happy to be going to NYU (even at sticker if it comes to that).

elmagic
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Re: What do you think about NYU at Sticker

Postby elmagic » Wed Mar 24, 2010 11:35 am

I think if like the person before me said, if you are interested in NYC big law or public interest/government NYU at sticker is not a bad choice given their LRAP. Personally if my interests were limited to V100 or public interest/government I'd take NYU or Berkeley over schools like Chicago and Penn just because of vastly superior LRAP's. You have to bear in mind that although we all aspire to be at the top of our class, and most would be content being at the median, it's not far fetched to plan for the worse, and LRAP's definitely make falling below median at these schools a lot less stressful than others.

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quickquestionthanks
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Re: What do you think about NYU at Sticker

Postby quickquestionthanks » Wed Mar 24, 2010 11:51 am

I'd pay it.

Obviously, there are implications for your 4-8 year outlook, regarding finances. But don't overlook that this is going to be your entire professional foundation and determine not only your first job, but who is in your network for the rest of your life.

flawyer
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Re: What do you think about NYU at Sticker

Postby flawyer » Wed Mar 24, 2010 11:56 am

elmagic wrote:I think if like the person before me said, if you are interested in NYC big law or public interest/government NYU at sticker is not a bad choice given their LRAP. Personally if my interests were limited to V100 or public interest/government I'd take NYU or Berkeley over schools like Chicago and Penn just because of vastly superior LRAP's. You have to bear in mind that although we all aspire to be at the top of our class, and most would be content being at the median, it's not far fetched to plan for the worse, and LRAP's definitely make falling below median at these schools a lot less stressful than others.



I appreciate your reply, and believe it is an insightful one. Pardon my ignorance when I ask; what exactly makes NYU's LRAP more insuring than, as you said, Chicago's or Penn's?

Z3RO
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Re: What do you think about NYU at Sticker

Postby Z3RO » Wed Mar 24, 2010 12:01 pm

flawyer wrote:
elmagic wrote:I think if like the person before me said, if you are interested in NYC big law or public interest/government NYU at sticker is not a bad choice given their LRAP. Personally if my interests were limited to V100 or public interest/government I'd take NYU or Berkeley over schools like Chicago and Penn just because of vastly superior LRAP's. You have to bear in mind that although we all aspire to be at the top of our class, and most would be content being at the median, it's not far fetched to plan for the worse, and LRAP's definitely make falling below median at these schools a lot less stressful than others.



I appreciate your reply, and believe it is an insightful one. Pardon my ignorance when I ask; what exactly makes NYU's LRAP more insuring than, as you said, Chicago's or Penn's?

Here's a link to Chicago's LRAP. Compare this to NYU or Columbias:

http://www.law.uchicago.edu/alumni/loanrepayment

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ravens20
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Re: What do you think about NYU at Sticker

Postby ravens20 » Wed Mar 24, 2010 12:02 pm

flawyer wrote:
elmagic wrote:I think if like the person before me said, if you are interested in NYC big law or public interest/government NYU at sticker is not a bad choice given their LRAP. Personally if my interests were limited to V100 or public interest/government I'd take NYU or Berkeley over schools like Chicago and Penn just because of vastly superior LRAP's. You have to bear in mind that although we all aspire to be at the top of our class, and most would be content being at the median, it's not far fetched to plan for the worse, and LRAP's definitely make falling below median at these schools a lot less stressful than others.



I appreciate your reply, and believe it is an insightful one. Pardon my ignorance when I ask; what exactly makes NYU's LRAP more insuring than, as you said, Chicago's or Penn's?


viewtopic.php?f=15&t=62094&hilit=LRAP+comparison
There's a big difference between NYU/Columbia and Penn/Chicago in terms of take home money. (By the way, those figures assume a very high tax rate with no deductions....in reality your taxes would be FAR less with LRAPs at any of these schools...consequently, your take home money would be higher across the board)

elmagic
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Re: What do you think about NYU at Sticker

Postby elmagic » Wed Mar 24, 2010 12:06 pm

ravens20 wrote:
flawyer wrote:
elmagic wrote:I think if like the person before me said, if you are interested in NYC big law or public interest/government NYU at sticker is not a bad choice given their LRAP. Personally if my interests were limited to V100 or public interest/government I'd take NYU or Berkeley over schools like Chicago and Penn just because of vastly superior LRAP's. You have to bear in mind that although we all aspire to be at the top of our class, and most would be content being at the median, it's not far fetched to plan for the worse, and LRAP's definitely make falling below median at these schools a lot less stressful than others.



I appreciate your reply, and believe it is an insightful one. Pardon my ignorance when I ask; what exactly makes NYU's LRAP more insuring than, as you said, Chicago's or Penn's?


viewtopic.php?f=15&t=62094&hilit=LRAP+comparison
There's a big difference between NYU/Columbia and Penn/Chicago in terms of take home money. (By the way, those figures assume a very high tax rate with no deductions....in reality your taxes would be FAR less with LRAPs at any of these schools...consequently, your take home money would be higher across the board)


ravens20 beat me to it, but yeah there are some pretty helpful LRAP comparisons in that thread, and although it's from last year and like ravens20 said the figures assume higher tax rates with no deductions, you can get a good idea why LRAPs at NYU/Columbia/Berkeley are in many ways better than at Penn/Chicago.

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scribelaw
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Re: What do you think about NYU at Sticker

Postby scribelaw » Wed Mar 24, 2010 12:07 pm

flawyer wrote:
elmagic wrote:I think if like the person before me said, if you are interested in NYC big law or public interest/government NYU at sticker is not a bad choice given their LRAP. Personally if my interests were limited to V100 or public interest/government I'd take NYU or Berkeley over schools like Chicago and Penn just because of vastly superior LRAP's. You have to bear in mind that although we all aspire to be at the top of our class, and most would be content being at the median, it's not far fetched to plan for the worse, and LRAP's definitely make falling below median at these schools a lot less stressful than others.



I appreciate your reply, and believe it is an insightful one. Pardon my ignorance when I ask; what exactly makes NYU's LRAP more insuring than, as you said, Chicago's or Penn's?


Check it out:

viewtopic.php?f=15&t=62094

NYU's LRAP is awesome. It's behind only Yale and equal to Columbia, IMO.

If you borrow sticker at NYU -- which I'm considering too -- you'll have two career options: Biglaw in a market that pays $145k-$160k or PI law that qualifies for LRAP.

Going to a slightly lower ranked school with $$, if you have that option, would mean a lower likelihood of landing elite Biglaw or elite PI, but would give you the financial flexibility to perhaps go to a smaller firm or secondary market.

EDIT: Didn't see someone else had already posted that link.




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