Would you take the money or the prestige?

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ZachOda
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Would you take the money or the prestige?

Postby ZachOda » Tue Aug 17, 2010 6:24 pm

I am having a really tough time deciding on my list for applications (I'm still around 20 schools). The big issue for me is that I can expect just about no contributions from my family and will have about 60K in loans from undergrad. Should I be applying to T2 schools where I may be competitive for large scholarships but potentially have lowered employment prospects (would they really be that lowered, though?) or should I focus on schools where I would be around the median and take out more loans? I really don't see myself doing Biglaw. I would not be against starting as a public defender/prosecutor, depending on where I see myself by the end of law school. So I'll put it out there, should I go for the chance at higher scholarships and lower prestige or more loans and higher rankings?

Thanks TLS

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vanwinkle
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Re: Would you take the money or the prestige?

Postby vanwinkle » Tue Aug 17, 2010 6:39 pm

Image

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manbearwig
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Re: Would you take the money or the prestige?

Postby manbearwig » Tue Aug 17, 2010 8:02 pm

ZachOda wrote:I am having a really tough time deciding on my list for applications (I'm still around 20 schools). The big issue for me is that I can expect just about no contributions from my family and will have about 60K in loans from undergrad. Should I be applying to T2 schools where I may be competitive for large scholarships but potentially have lowered employment prospects (would they really be that lowered, though?) or should I focus on schools where I would be around the median and take out more loans? I really don't see myself doing Biglaw. I would not be against starting as a public defender/prosecutor, depending on where I see myself by the end of law school. So I'll put it out there, should I go for the chance at higher scholarships and lower prestige or more loans and higher rankings?

Thanks TLS


I took the money. But, I also chose a highly respected regional school in the region I want to practice. I think that's the key.

dakatz
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Re: Would you take the money or the prestige?

Postby dakatz » Tue Aug 17, 2010 8:19 pm

With 60K in undergrad loans, and 3 years of sticker price at a high ranked school, you could be 260K in debt, which sounds unimaginably bad. And without a biglaw salary, how could you ever expect to pay that off and make a living for yourself? If you were to go for "prestige" it would need to be so high a level of school (i.e. HYS) that it is worth putting yourself a quarter-million bucks in the hole. If you aren't talking about such elite schools, then absolutely 100% go for the money in a region you are comfortable practicing in.

lawyerwannabe
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Re: Would you take the money or the prestige?

Postby lawyerwannabe » Tue Aug 17, 2010 8:32 pm

dakatz wrote:With 60K in undergrad loans, and 3 years of sticker price at a high ranked school, you could be 260K in debt, which sounds unimaginably bad. And without a biglaw salary, how could you ever expect to pay that off and make a living for yourself? If you were to go for "prestige" it would need to be so high a level of school (i.e. HYS) that it is worth putting yourself a quarter-million bucks in the hole. If you aren't talking about such elite schools, then absolutely 100% go for the money in a region you are comfortable practicing in.


TITCR. If HYS is not attainable, do what MBW did and go to respected regional school that offers you $$$.

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paratactical
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Re: Would you take the money or the prestige?

Postby paratactical » Tue Aug 17, 2010 9:16 pm

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Last edited by paratactical on Wed Feb 13, 2013 10:53 pm, edited 1 time in total.

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ZachOda
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Re: Would you take the money or the prestige?

Postby ZachOda » Tue Aug 17, 2010 11:48 pm

Thanks for the advice everyone.

VanWinkle, great post, made me laugh. Also reminded me that I haven't seen that movie in awhile, it was pretty good, too.




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