MVP w/ $ or deferred free ride at state school

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

What do you think I should choose?

Poll ended at Thu Aug 05, 2010 7:49 pm

MVP- $130,000 in debt
12
33%
top 30 state school- $30,000 in debt if I defer
24
67%
 
Total votes: 36

confusedinthemidwest
Posts: 3
Joined: Tue Aug 03, 2010 5:01 pm

MVP w/ $ or deferred free ride at state school

Postby confusedinthemidwest » Tue Aug 03, 2010 7:49 pm

I've been struggling with a unique decision for about a week, so I thought I'd ask TLS. I realize that I am very lucky to have this decision to make, but it's still bothering me and I'd like some help. Some background: I was all set on going to one of MVP with a $25,000/yr scholly... until I got around to looking at the loan papers and it hit me that I'd be $130,000 in debt afterward. After worrying about it, I called up my undergrad state school (a US News top 30 school in the midwest) and basically asked them if they would re-offer me a full tuition scholarship that I had turned down in April. Initially they didn't, but last Friday they called me out of the blue and said they would guarantee me a full-tuition scholarship if I defer for a year. I'm not sure what to do and I have two days to decide...

About me:
-Just graduated from undergrad (no undergrad debt)
-I loved undergrad at the state school and I would enjoy going to law school in the town
-I also loved the MVP when I visited and I can see myself there, too
-I'm not sure what kind of law I want to do or where I want to live, but I was thinking government or a firm in a smaller city would be cool. I don't want to be in NYC biglaw.

Pros for my state school:
-I'd only be $30,000 in debt after living expenses (maybe less)
-If I don't like the law, I'm not stuck in a career

Cons for my state school:
-Less prestige, fewer opportunities

Pros for MVP:
-More prestige and opportunities for high-profile government jobs
-If I want to do public interest or government, their LRAP will pay all my loans in 10 years if I make less then 55k (prorated if I make between 55k and 75k)

Cons for MVP:
-I'd have to work as a lawyer for at least 10 years even if I don't like it

I have a lease at MVP, but my parents said they would give me a loan to pay for it if I can't find a subletter. If I decide to go to the state school, I would go volunteer abroad for the deferred year. I'm also a girl, and although I'm not really thinking about this now, it might be nice to be able to work part-time later on if I decide to have children.

Thanks for reading, and I appreciate your insight!

User avatar
Emma.
Posts: 2401
Joined: Sun Oct 05, 2008 7:57 pm

Re: MVP w/ $ or deferred free ride at state school

Postby Emma. » Tue Aug 03, 2010 7:53 pm

I'm sure a lot of people will tell you you're crazy for thinking of turning down a top 10 school, but I think it really comes down to where you want to practice. If you are happy living and practicing in your state in the long run, taking the money might be the best decision for you.

confusedinthemidwest
Posts: 3
Joined: Tue Aug 03, 2010 5:01 pm

Re: MVP w/ $ or deferred free ride at state school

Postby confusedinthemidwest » Tue Aug 03, 2010 8:03 pm

Oh, and could you please explain the reasoning behind your votes? Thanks!

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blurbz
Posts: 1229
Joined: Mon Jun 29, 2009 10:43 pm

Re: MVP w/ $ or deferred free ride at state school

Postby blurbz » Tue Aug 03, 2010 8:12 pm

I think you have two very good options. I am going to vote for the full ride, only because I think that the options opened by having less debt will be greater than the options opened by prestige.

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badpixie
Posts: 240
Joined: Thu Feb 04, 2010 7:42 pm

Re: MVP w/ $ or deferred free ride at state school

Postby badpixie » Tue Aug 03, 2010 9:40 pm

Since you are not interested in biglaw, and want the flexibility to be able to change careers if you don't like law, or to go to work part time if you decide to have a family, I think that the low-debt route is the way to go for you.

Good luck with whichever you decide! :)

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presh
Posts: 7967
Joined: Sat Oct 25, 2008 1:00 am

Re: MVP w/ $ or deferred free ride at state school

Postby presh » Tue Aug 03, 2010 9:47 pm

.
Last edited by presh on Sun Dec 27, 2015 3:10 am, edited 1 time in total.

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mfeller2
Posts: 167
Joined: Wed Jul 01, 2009 2:34 pm

Re: MVP w/ $ or deferred free ride at state school

Postby mfeller2 » Tue Aug 03, 2010 11:18 pm

I voted "deferred free ride". It sounds like you aren't even sure if you want to be a lawyer, so a year off might give you some time to think about your career path.

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vanwinkle
Posts: 9740
Joined: Sun Dec 21, 2008 3:02 am

Re: MVP w/ $ or deferred free ride at state school

Postby vanwinkle » Tue Aug 03, 2010 11:20 pm

Plenty of good reasons given by now to take the deferred free ride.

confusedinthemidwest
Posts: 3
Joined: Tue Aug 03, 2010 5:01 pm

Re: MVP w/ $ or deferred free ride at state school

Postby confusedinthemidwest » Wed Aug 04, 2010 3:06 pm

Thanks so much for your help! I'm pretty sure now that that's what I'm going to do, and it's good to hear some confirmation that I'm not being an idiot to turn the MVP scholarship down. Thanks!

2009 Prospective
Posts: 236
Joined: Tue Dec 02, 2008 12:32 pm

Re: MVP w/ $ or deferred free ride at state school

Postby 2009 Prospective » Wed Aug 04, 2010 3:13 pm

vanwinkle wrote:Plenty of good reasons given by now to take the deferred free ride.


+1. Take the full ride as long as you won't regret lacking degree portability and are fairly certain in your desire to remain in the geographic area of the state school for the long haul.

aPosseAdEsse
Posts: 182
Joined: Thu Jan 28, 2010 6:19 am

Re: MVP w/ $ or deferred free ride at state school

Postby aPosseAdEsse » Wed Aug 04, 2010 3:23 pm

Voted TOP30 for the similar reasons to badpixie, et al.




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