Is University of Miami worth it, if you live for free?

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eugenedmngz
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Is University of Miami worth it, if you live for free?

Postby eugenedmngz » Tue Oct 04, 2011 1:52 pm

I have a dilemma on my hands, and would appreciate help from the extremely knowledgeable people on TLS =). I have just taken my October LSAT, and I feel like I did decent on it. I'm expected to finish my UG this spring, and I haven't applied to any law schools yet because I plan on working another year or so before I jump straight into school again. I've been working ever since I was 15 years old nonstop, and I have a decent chunk of money saved up.

I have recently gotten a lot of pressure from my parents to apply to the University of Miami LS for several reason:

My parents recently bought an apartment complex in Coral Gables, and don't plan on moving to FL for another 5 years so they'd essentially would want me to run it for them while I attend school.

My father is good friends with someone who works for admissions for the law school, and his friend has basically guaranteed me I'd get in as long as I hit the 25th percentile for their school on the LSAT.

Because I've been working for the past 7 years non-stop I have a lot of money saved up, and essentially wouldn't have to take out large loans because I've been frugal in my spending.

I wouldn't mind living, and working in Miami for the foreseeable future as I'm from NYC, and I'm pretty tired of the cold weather. Obviously I don't have my LSAT scores back or haven't even begun applying to schools so maybe I'm thinking wayyyyyy to ahead of myself. But I have read enough on these forums to know that the University of Miami isn't really regarded in a high light, and that schools such as FSU, UF, are regarded better if you want to try and break into the Miami legal market. But even without getting one dime in scholarship money from UM I'd still would graduate debt free for several of the reason I've stated above, and others. I was wondering with all these factors taken into consideration is the University of Miami even worth it. It's essentially the only LS I can apply to, and if accepted graduate debt free from. I already have 28k in debt from UG, and really don't feel like taken out more debt. I would want to work in Florida, but don't want to cripple my chances of employment because I went to a school that from what I can tell based of these forums doesn't garner much respect. Thanks!

CanadianWolf
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Re: Is University of Miami worth it, if you live for free?

Postby CanadianWolf » Tue Oct 04, 2011 1:56 pm

Better to wait until you receive an actual LSAT score. If, for example, you score in the mid-150s, then Miami is a good fit in your situation; a LSAT score in the mid-160s, however, should offer much better options.
Last edited by CanadianWolf on Tue Oct 04, 2011 2:01 pm, edited 1 time in total.

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Grizz
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Re: Is University of Miami worth it, if you live for free?

Postby Grizz » Tue Oct 04, 2011 1:59 pm

CanadianWolf wrote:Better to wait until you receive an actual LSAT score.

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eugenedmngz
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Re: Is University of Miami worth it, if you live for free?

Postby eugenedmngz » Tue Oct 04, 2011 2:08 pm

CanadianWolf wrote:Better to wait until you receive an actual LSAT score. If, for example, you score in the mid-150s, then Miami is a good fit in your situation; a LSAT score in the mid-160s, however, should offer much better options.


Is there a better option to graduating from law school in a city you'd love to live in for free? My cost of living would be pretty low as rent is taken out of the picture, especially if I can get to live rent free in a city like Coral Gables.

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Grizz
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Re: Is University of Miami worth it, if you live for free?

Postby Grizz » Tue Oct 04, 2011 2:09 pm

eugenedmngz wrote:
CanadianWolf wrote:Better to wait until you receive an actual LSAT score. If, for example, you score in the mid-150s, then Miami is a good fit in your situation; a LSAT score in the mid-160s, however, should offer much better options.


Is there a better option to graduating from law school in a city you'd love to live in for free? My cost of living would be pretty low as rent is taken out of the picture, especially if I can get to live rent free in a city like Coral Gables.

Yeah because more prestigious schools tend to have better employment outcomes.

bruss
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Re: Is University of Miami worth it, if you live for free?

Postby bruss » Tue Oct 04, 2011 2:10 pm

Shoot for UF or FSU. UF/FSU tuition+housing is less than UM tuition. Uf/FSU carries more weight in Florida than UM. And let's just put it this way, Miami ain't all sunshine and sexy women

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eugenedmngz
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Re: Is University of Miami worth it, if you live for free?

Postby eugenedmngz » Tue Oct 04, 2011 2:12 pm

bruss wrote:Shoot for UF or FSU. UF/FSU tuition+housing is less than UM tuition. Uf/FSU carries more weight in Florida than UM. And let's just put it this way, Miami ain't all sunshine and sexy women



My big point with UM, is I'd get to live 5 minutes away from Campus for rent free. My cost of living would be the cheapest in Miami, outside of NYC, where I currently reside. So UF or FSU, wouldn't allow me to live in a city I'd like to live in, and free at that.

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eugenedmngz
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Re: Is University of Miami worth it, if you live for free?

Postby eugenedmngz » Tue Oct 04, 2011 2:14 pm

Grizz wrote:
eugenedmngz wrote:
CanadianWolf wrote:Better to wait until you receive an actual LSAT score. If, for example, you score in the mid-150s, then Miami is a good fit in your situation; a LSAT score in the mid-160s, however, should offer much better options.


Is there a better option to graduating from law school in a city you'd love to live in for free? My cost of living would be pretty low as rent is taken out of the picture, especially if I can get to live rent free in a city like Coral Gables.

Yeah because more prestigious schools tend to have better employment outcomes.



Which is a good point. I already have 28k in UG debt, and would love nothing more than to pay it off. Although I have the money to pay it off my situation would change drastically, as a lot of the money I have saved up would go to that, and then Miami isn't looking as good, because the only advantage the city would have is living rent free.

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Re: Is University of Miami worth it, if you live for free?

Postby FeelTheHeat » Tue Oct 04, 2011 2:15 pm

eugenedmngz wrote:
bruss wrote:Shoot for UF or FSU. UF/FSU tuition+housing is less than UM tuition. Uf/FSU carries more weight in Florida than UM. And let's just put it this way, Miami ain't all sunshine and sexy women



My big point with UM, is I'd get to live 5 minutes away from Campus for rent free. My cost of living would be the cheapest in Miami, outside of NYC, where I currently reside. So UF or FSU, wouldn't allow me to live in a city I'd like to live in, and free at that.


Took out less than 30k to live next to Uf...UM was 43k this year IIRC...it's economics, broseph. You are still going to UF or FSU more cheaply than Miami, free or not.
Last edited by FeelTheHeat on Tue Oct 04, 2011 8:57 pm, edited 1 time in total.

CanadianWolf
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Re: Is University of Miami worth it, if you live for free?

Postby CanadianWolf » Tue Oct 04, 2011 2:17 pm

Your situation is interesting because Miami should place well in South Florida & an LSAT score of 160 or in the low 160s should result in a merit scholarship offer.
If you're seeking a biglaw position, then Miami is not the best choice even with free rent. If you want to work in a small firm & love the Miami area, then Miami may be a reasonable option for you. But you still need to know your options, and that depends upon your LSAT score.

Nobody
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Re: Is University of Miami worth it, if you live for free?

Postby Nobody » Tue Oct 04, 2011 8:50 pm

I don't pretend to be an expert on this, but I think U Miami places pretty will in Miami itself. This was mostly before the crash so take it with a grain of salt, but I think it at least outperforms its rankings. But I'm more sure it places better in Miami than the other Florida schools, since it's not like they're spectacularly ranked themselves. If it ends up not being very expensive to you (variable since cost of living isn't the only issue) it could be worth it.

But it also sounds like you're kind of stumbling into law school, and things are bad enough that this is a bad field to just decide you might like now.

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Grizz
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Re: Is University of Miami worth it, if you live for free?

Postby Grizz » Tue Oct 04, 2011 8:51 pm

Nobody wrote:I think it at least outperforms its rankings. But I'm more sure it places better in Miami than the other Florida schools, since it's not like they're spectacularly ranked themselve

1) No.
2) UF is better, FSU is debateable.

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FeelTheHeat
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Re: Is University of Miami worth it, if you live for free?

Postby FeelTheHeat » Tue Oct 04, 2011 8:56 pm

Grizz wrote:
Nobody wrote:I think it at least outperforms its rankings. But I'm more sure it places better in Miami than the other Florida schools, since it's not like they're spectacularly ranked themselve

1) No.
2) UF is better, FSU is debateable.


To add to this, using the rankings as your primary decision making tool is all kinds of stupid. There are far too many other important factors, not the least of which that if you want to work in Florida, you'd be far better off going to #47 UF than #23 or whatever it is Indiana-Bloomington.

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Re: Is University of Miami worth it, if you live for free?

Postby duckmoney » Tue Oct 04, 2011 9:00 pm

Grizz wrote:
Nobody wrote:I think it at least outperforms its rankings. But I'm more sure it places better in Miami than the other Florida schools, since it's not like they're spectacularly ranked themselve

1) No.
2) UF is better, FSU is debateable.


This is correct.

If you go to Miami debt free, you will probably find a job as a lawyer in Miami. If you aren't top 10%, you won't make six figures to start. It may be years before you make six figures, in fact. But you'll be a lawyer with no debt, so if that appeals to you more than whatever you're doing right now, it could be worth it.

UF would still offer better placement options though, and at a cheaper cost (even with cost of living). Actually, do run the numbers on that because UF is jacking up its tuition like crazy, but still not to Miami levels. Also, UF placement options are not "good", they're just better than Miami.

And depending on your current career, you might be able to do a lot better things with $120,000 than buy a Miami law degree.

duckmoney
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Re: Is University of Miami worth it, if you live for free?

Postby duckmoney » Tue Oct 04, 2011 9:01 pm

Also, pay off your undergrad loans now with your savings, unless they're at a rediculously low interest rate. The interest you'll save now will be worth more than having to take out law school loans later.

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FeelTheHeat
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Re: Is University of Miami worth it, if you live for free?

Postby FeelTheHeat » Tue Oct 04, 2011 9:02 pm

UF is definitely jacking up its tuition, but its still a bargain (relatively speaking) compared to most schools.

duckmoney
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Re: Is University of Miami worth it, if you live for free?

Postby duckmoney » Tue Oct 04, 2011 9:05 pm

FeelTheHeat wrote:UF is definitely jacking up its tuition, but its still a bargain (relatively speaking) compared to most schools.


Yes, but will it be when OP is a 3L?

If they keep up this 15% a year increase BS, its doubtful.

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Nicholasnickynic
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Re: Is University of Miami worth it, if you live for free?

Postby Nicholasnickynic » Tue Oct 04, 2011 9:10 pm

eugenedmngz wrote:
Grizz wrote:
eugenedmngz wrote:
CanadianWolf wrote:Better to wait until you receive an actual LSAT score. If, for example, you score in the mid-150s, then Miami is a good fit in your situation; a LSAT score in the mid-160s, however, should offer much better options.


Is there a better option to graduating from law school in a city you'd love to live in for free? My cost of living would be pretty low as rent is taken out of the picture, especially if I can get to live rent free in a city like Coral Gables.

Yeah because more prestigious schools tend to have better employment outcomes.



Which is a good point. I already have 28k in UG debt, and would love nothing more than to pay it off. Although I have the money to pay it off my situation would change drastically, as a lot of the money I have saved up would go to that, and then Miami isn't looking as good, because the only advantage the city would have is living rent free.



That IS the only advantage miami has. PS: you can take your saved up money and spend it elsewhere.

If you score say 165, you could get into a few T1s at about 15-20k/year. Don't know how much miami is, but I can't imagine if its cheaper than that, then it is by a lot.

Living rent free is awesome, but its far from the end-all be-all.

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Re: Is University of Miami worth it, if you live for free?

Postby Nicholasnickynic » Tue Oct 04, 2011 9:15 pm

Maybe I'm missing something, but according to the profile on tls, miami is 40k/year. Are you saying you have 120k saved up?

Because if you do and you spend it on miami's tuition just to save 20-40k on housing, then you sir, are a fucking moron.

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Re: Is University of Miami worth it, if you live for free?

Postby FeelTheHeat » Tue Oct 04, 2011 9:24 pm

Nicholasnickynic wrote:Maybe I'm missing something, but according to the profile on tls, miami is 40k/year. Are you saying you have 120k saved up?

Because if you do and you spend it on miami's tuition just to save 20-40k on housing, then you sir, are a fucking moron.


No, I don't think that's what he's getting at, I think he says he has enough to pay off his UG debt which is a little less than 30k

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Nicholasnickynic
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Re: Is University of Miami worth it, if you live for free?

Postby Nicholasnickynic » Tue Oct 04, 2011 9:35 pm

FeelTheHeat wrote:
Nicholasnickynic wrote:Maybe I'm missing something, but according to the profile on tls, miami is 40k/year. Are you saying you have 120k saved up?

Because if you do and you spend it on miami's tuition just to save 20-40k on housing, then you sir, are a fucking moron.


No, I don't think that's what he's getting at, I think he says he has enough to pay off his UG debt which is a little less than 30k


*phew*

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eugenedmngz
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Re: Is University of Miami worth it, if you live for free?

Postby eugenedmngz » Tue Oct 04, 2011 11:37 pm

Nobody wrote:I don't pretend to be an expert on this, but I think U Miami places pretty will in Miami itself. This was mostly before the crash so take it with a grain of salt, but I think it at least outperforms its rankings. But I'm more sure it places better in Miami than the other Florida schools, since it's not like they're spectacularly ranked themselves. If it ends up not being very expensive to you (variable since cost of living isn't the only issue) it could be worth it.

But it also sounds like you're kind of stumbling into law school, and things are bad enough that this is a bad field to just decide you might like now.



I've been interested in law for pretty much my whole life. My father is a graduate of T14 law school, and worked for the DA's office in NY for virtually his entire life, as did a lot of my family members. I have very little to no interest in biglaw, I'm not going to law school because I think I'll be making 160k straight out of school, and I'll be on top of the world. It's a decision I've weighed the pros and cons for the last three years. Thanks for the advice though, I appreciate anyone's input on the matter.

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eugenedmngz
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Re: Is University of Miami worth it, if you live for free?

Postby eugenedmngz » Tue Oct 04, 2011 11:43 pm

Nicholasnickynic wrote:Maybe I'm missing something, but according to the profile on tls, miami is 40k/year. Are you saying you have 120k saved up?

Because if you do and you spend it on miami's tuition just to save 20-40k on housing, then you sir, are a fucking moron.



hahahaha, I wish I had 120k saved up, I have a little north of 30k from working part-time jobs since I was 15. I know 40k is expensive, considering Miamis rank, and how cheap FSU/UF are. If I had 120k saved up, I'd just aim for the stars and hope to get into the best school possible , and "waste" it there
Last edited by eugenedmngz on Tue Oct 04, 2011 11:52 pm, edited 1 time in total.

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eugenedmngz
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Re: Is University of Miami worth it, if you live for free?

Postby eugenedmngz » Tue Oct 04, 2011 11:50 pm

FeelTheHeat wrote:
Nicholasnickynic wrote:Maybe I'm missing something, but according to the profile on tls, miami is 40k/year. Are you saying you have 120k saved up?

Because if you do and you spend it on miami's tuition just to save 20-40k on housing, then you sir, are a fucking moron.


No, I don't think that's what he's getting at, I think he says he has enough to pay off his UG debt which is a little less than 30k


Yep, my parents have assured me that if I chose to get into law (which is something they really want, as my brother is currently finishing med school, and one of my older siblings works in the field of finance, so I guess they want some sort of trifecta to brag to their friends about?) that they'll pay off my UG debt, they understand how much of a money drainer law school can be. Especially for someone whose not very interested in biglaw, and probably won't be making six figures, so they want to take some of the burden off of me. (I know I probably sound as if this is a decision my parents are pressuring me into, but I've been assured I could be 45 years old, and jobless, and I'd still be allowed to live with them while wearing a bathrobe all day) I just thought I should ask what people though about going to a low tier school like Miami, for as close to living for free as possible.

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Nicholasnickynic
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Re: Is University of Miami worth it, if you live for free?

Postby Nicholasnickynic » Wed Oct 05, 2011 9:22 am

eugenedmngz wrote:
FeelTheHeat wrote:
Nicholasnickynic wrote:Maybe I'm missing something, but according to the profile on tls, miami is 40k/year. Are you saying you have 120k saved up?

Because if you do and you spend it on miami's tuition just to save 20-40k on housing, then you sir, are a fucking moron.


No, I don't think that's what he's getting at, I think he says he has enough to pay off his UG debt which is a little less than 30k


Yep, my parents have assured me that if I chose to get into law (which is something they really want, as my brother is currently finishing med school, and one of my older siblings works in the field of finance, so I guess they want some sort of trifecta to brag to their friends about?) that they'll pay off my UG debt, they understand how much of a money drainer law school can be. Especially for someone whose not very interested in biglaw, and probably won't be making six figures, so they want to take some of the burden off of me. (I know I probably sound as if this is a decision my parents are pressuring me into, but I've been assured I could be 45 years old, and jobless, and I'd still be allowed to live with them while wearing a bathrobe all day) I just thought I should ask what people though about going to a low tier school like Miami, for as close to living for free as possible.



So they will pay off your undergrad regardless of what school you choose?

If this is so, do well on the lsat, get a scholly to a better school, pay 15k a year in tuition, end up with a better degree from a better school for the same price. (cheaper tuition, more expensive col).

ORRRRR option #3:

Do well on LSAT, pay like 15k/year at miami, end up in 45k debt. That would be worth it if you KNOW you want to be a DA and go gunning for it from the get-go.




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