Fordham $$$ vs. Cornell

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Fordham $$$ vs. Cornell

Poll ended at Thu May 27, 2010 5:08 pm

Fordham ($30K/year)
30
44%
Cornell (assume little to no aid)
38
56%
 
Total votes: 68

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danidancer
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Fordham $$$ vs. Cornell

Postby danidancer » Fri May 21, 2010 5:08 pm

Howdy all!

So, I want to practice in NYC, and right now I'm thinking I want biglaw. Here's the dilemma: I'm currently deposited at Fordham, with a second $600 deposit due June 1. BUT, I was admitted off the Cornell reserve list today, and to reserve my space I have to submit a $700 deposit by May 28.

Finances are a big issue for me - my family is not wealthy at all, and I have minuscule savings. Fordham's given me more than $30K/year in combined merit/need aid. I have no idea what, if any, financial aid Cornell might be able to give, so for arguments sake, let's assume I'm paying sticker (although there is a chance I might get some need aid). I'll be calling the financial aid office first thing on Monday to see if I might get an aid decision before I have to deposit, but there's a chance I could be making this decision blind.

What's the smart choice here?

PS: Besides just voting in the poll, I'm really interested in your reasons behind those votes. :D

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bk1
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Re: Fordham $$$ vs. Cornell

Postby bk1 » Fri May 21, 2010 5:40 pm

NLJ250 rankings from 2009 have it at Fordham (30% biglaw) vs Cornell (40% biglaw). To me this question comes down to is that 33% higher chance of biglaw worth 30k/year? I could see it either way, especially if you are biglaw or bust. But to be honest, I think Fordham is the right call.

EDIT: One other thing to note is ITE. I would assume Fordham was hit harder than Cornell, though it is hard to gauge to what extent this is true and by how much. This may throw it in Cornell's favor.

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OperaSoprano
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Re: Fordham $$$ vs. Cornell

Postby OperaSoprano » Fri May 21, 2010 5:43 pm

Will send PM.

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webbylu87
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Re: Fordham $$$ vs. Cornell

Postby webbylu87 » Fri May 21, 2010 5:46 pm

I voted for Fordham simply because I don't see Cornell offering you a significant enough advantage to justify an extra $120k in debt over the three years. The connections you can build being in the city combined with the merit aid offer, IMO, would more than make up for turning down Cornell.

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danidancer
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Re: Fordham $$$ vs. Cornell

Postby danidancer » Fri May 21, 2010 7:38 pm

Wow - neck and neck poll so far! At least this confirms that the decision isn't cut and dried. :D I'm glad to hear your arguments in favor of Fordham - I thought I was crazy for having serious pause about this. Although, to be honest, I think my gut is leaning ever so slightly towards Cornell at the moment, esp. if they are able to get back to me with some need-based aid next week. I adore NYC, but I'm willing to step away for 3 years to attend a better school. I'm mostly wondering if I will regret turning down Cornell in the future?

Anyway, all that being said, I'm still extremely undecided and would love to hear additional opinions before my deposit is due next week. :D

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danidancer
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Re: Fordham $$$ vs. Cornell

Postby danidancer » Fri May 21, 2010 7:44 pm

bk1 wrote:NLJ250 rankings from 2009 have it at Fordham (30% biglaw) vs Cornell (40% biglaw). To me this question comes down to is that 33% higher chance of biglaw worth 30k/year? I could see it either way, especially if you are biglaw or bust. But to be honest, I think Fordham is the right call.

EDIT: One other thing to note is ITE. I would assume Fordham was hit harder than Cornell, though it is hard to gauge to what extent this is true and by how much. This may throw it in Cornell's favor.


INNN-teresting. That's not a big gap at all - I thought it was closer to a 25% gap. Huh. Well, we've all heard the horror stories of Cornell OCI of late, but I can't help but think things will be turning around soon? And the Cornell name at least has more national portability as a backup?

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danidancer
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Re: Fordham $$$ vs. Cornell

Postby danidancer » Fri May 21, 2010 7:46 pm

webbylu87 wrote:I voted for Fordham simply because I don't see Cornell offering you a significant enough advantage to justify an extra $120k in debt over the three years. The connections you can build being in the city combined with the merit aid offer, IMO, would more than make up for turning down Cornell.


Yeah, I see what you're saying. The extra debt really does scare me. Hopefully Cornell will ultimately come through with some need-based aid - that would certainly make this decision easier. As it is, I'm still at a huge loss for what to do. :?

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bk1
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Re: Fordham $$$ vs. Cornell

Postby bk1 » Fri May 21, 2010 9:22 pm

danidancer wrote:INNN-teresting. That's not a big gap at all - I thought it was closer to a 25% gap. Huh. Well, we've all heard the horror stories of Cornell OCI of late, but I can't help but think things will be turning around soon? And the Cornell name at least has more national portability as a backup?


I agree that Cornell is going to give you better chances (especially because it can place outside of NYC which will help, especially in secondary markets) but this then gets at the question of how much you want NYC and your willingness to settle for a secondary market, though it really does not address the money issue. And of course those stats are dated and without any hard data as to how Fordham's and Cornell's OCI this past year has done, it is hard to tell if it suffered better/same/worse compared to Cornell. Of course it Cornell did badly compared to pre-ITE but what really matters for your decision is how bad each of them did in comparison to the other, and the fact that Cornell did poorly doesn't adequately help answer that question in regards to your choice.

I agree though that this is probably one of the hardest choices I have seen in this forum.

NeXP
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Re: Fordham $$$ vs. Cornell

Postby NeXP » Fri May 21, 2010 9:46 pm

I gave up 10k a year at Fordham for Cornell, though granted at that level it was kind of a no-brainer. I discussed the decision with some wildl successful attorneys in several fields who all concurred that the name far outweighs any location/networking advantages. Good luck with your decision!

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KMaine
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Re: Fordham $$$ vs. Cornell

Postby KMaine » Sat May 22, 2010 6:46 am

Though this may not matter to you, if you factor in clerkships Cornell is at 52% and Fordham is at 35%. Chances are, most of those clerkship kids could get Biglaw afterward if they want it. I know you didn't ask. The $ at Fordham is a factor in this. Good luck.

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danidancer
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Re: Fordham $$$ vs. Cornell

Postby danidancer » Sat May 22, 2010 11:59 pm

Cornell it is. Thanks everyone for your help. :mrgreen:

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Regionality
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Re: Fordham $$$ vs. Cornell

Postby Regionality » Sun May 23, 2010 12:06 am

danidancer wrote:Cornell it is. Thanks everyone for your help. :mrgreen:


Decision made w/o getting any $ info from them?

I'd say Cornell still, either way, bc that name will be with you for the rest of your life and after ITE and it will mean something around the whole country...

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danidancer
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Re: Fordham $$$ vs. Cornell

Postby danidancer » Sun May 23, 2010 12:08 am

Regionality wrote:
danidancer wrote:Cornell it is. Thanks everyone for your help. :mrgreen:


Decision made w/o getting any $ info from them?

I'd say Cornell still, either way, bc that name will be with you for the rest of your life and after ITE and it will mean something around the whole country...


Well. I haven't written the check yet, or withdrawn from Fordham, but after sleeping on it last night it's what my gut is telling me...

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bk1
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Re: Fordham $$$ vs. Cornell

Postby bk1 » Sun May 23, 2010 12:13 am

danidancer wrote:Cornell it is. Thanks everyone for your help. :mrgreen:


I think you are making the right decision for you which is all you can do. Good luck! :)

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Regionality
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Re: Fordham $$$ vs. Cornell

Postby Regionality » Sun May 23, 2010 12:17 am

danidancer wrote:
Regionality wrote:
danidancer wrote:Cornell it is. Thanks everyone for your help. :mrgreen:


Decision made w/o getting any $ info from them?

I'd say Cornell still, either way, bc that name will be with you for the rest of your life and after ITE and it will mean something around the whole country...


Well. I haven't written the check yet, or withdrawn from Fordham, but after sleeping on it last night it's what my gut is telling me...



Awesome, congrats! Enjoy Ithaca!

sanibel1376
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Re: Fordham $$$ vs. Cornell

Postby sanibel1376 » Thu May 27, 2010 11:02 am

Hello danidancer....I have the same decision to make as you...however, I received less of a scholarship than you...10k per yr, but I would be commuting from home and saving approx. 10k per yr as well....I am pretty sure I will not be receiving any financial aid too...

I want to go into corporate law and work in nyc...will the long term benefits of Cornell outweigh the added costs?

did you make your final decision? I'm pretty sure you decided on Cornell...I am leaning towards Cornell as well, but its a tough choice, esp since I just found out that I was accepted to Cornell yesterday and have been set on Fordham for the past month.

Any advice???

Thanks!

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danidancer
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Re: Fordham $$$ vs. Cornell

Postby danidancer » Thu May 27, 2010 12:54 pm

sanibel1376 wrote:Hello danidancer....I have the same decision to make as you...however, I received less of a scholarship than you...10k per yr, but I would be commuting from home and saving approx. 10k per yr as well....I am pretty sure I will not be receiving any financial aid too...

I want to go into corporate law and work in nyc...will the long term benefits of Cornell outweigh the added costs?

did you make your final decision? I'm pretty sure you decided on Cornell...I am leaning towards Cornell as well, but its a tough choice, esp since I just found out that I was accepted to Cornell yesterday and have been set on Fordham for the past month.

Any advice???

Thanks!


Posting this publicly, in case it helps others making a similar decision.

First of all, congrats! Cornell vs. Fordham is definitely a tough, tough decision. Esp. since most people making this decision want NYC and would have a scholarship at Fordham. I think there are pros and cons to each, but in your case, as long as you're OK with living in Ithaca, Cornell would make sense. Considering you're not getting THAT much money from Fordham, the debt differential isn't a huge difference and Cornell is definitely a better school. Fordham is definitely a great school, but Cornell is in the big leagues, and since the debt at Fordham is still significant, ITE I'd rather take my chances with a higher ranked school and a better LRAP. For me though, the main reason I decided on Cornell is because I'm hoping to land a Judicial Clerkship before going into biglaw, and the Cornell brand will definitely be a boost for that.

Basically it seems (for '09) top 50% at Cornell was biglaw/Clerkship, while for Fordham it's top 30%. No one knows what the numbers will be for the Class of 2013, but I expect the gap in prospects will hold steady even if the respective percentages drop. Considering I'd still be $100K-ish in debt coming out of Fordham, that was a big enough gap for me to feel comfortable taking the gamble and going with Cornell...

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chicoalto0649
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Re: Fordham $$$ vs. Cornell

Postby chicoalto0649 » Thu May 27, 2010 1:00 pm

OperaSoprano wrote:Will send PM.



Blatant disguised vote for Cornell/not opening yourself up to a whole bunch of questions from TLSers~!

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danidancer
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Re: Fordham $$$ vs. Cornell

Postby danidancer » Thu May 27, 2010 2:17 pm

chicoalto0649 wrote:
OperaSoprano wrote:Will send PM.



Blatant disguised vote for Cornell/not opening yourself up to a whole bunch of questions from TLSers~!


Haha, OS still loves Fordham. She, essentially, told me to follow my heart. :D




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