ze2151 wrote:i find it amusing that you use the term "safety net" in reference to taking out 100 thousand extra dollars in tuition loan money.
How much more earning power over a career, then discount to present value and times the percentages based on NLJ percentage. Tell me the results. see if it's more than 100k. You want cost/benefit analysis, at least do the math.
the point is that the school will work FOR you to get all the stuff you got with your hard work and ingenuity. named fellowship recipients are the people the school wants representing it. this is a wonderful "safety net."
it is also a little deceptive to talk as though going to the t14 is the safer alternative and then in the next breath gamble on the extremely unlikely scenario that op will get high-paying sa positions for both 1L and 2L summer. if op manages to rake in 60k over the course of those two summers, hey, big victory. but you cannot, CANNOT, do a cost-benefit analysis and assume that.
You can't even assume to be able to get a job going to outside of the T14. So 3 years of living expenses in loans is still sizable if you end up unemployed.
no one is denying that there are opportunities further down the curve at t-14s that aren't available to similarly situated terriers. i said the difference is slimmer than one would think once all this stuff is accounted for. if bu weren't a good school, that would tip the scale significantly, but it is a good school. and the op specifically said s/he wants to stay in boston.
How good? How likely is OP going to end up in the grade band of employability? It's up to the OP to weigh and decide, it's not a bright line rule here.
further, what if op decides s/he can't stand the law after a few years in the field? if op went to bu, then s/he'd be out opportunity cost for those three years and little else. if op went to the lower t14, then even assuming op won the curve lotto and landed that cherry job, op would be miserably stuck in that job or risk defaulting on loans and being effectively an unemployed, unemployable, individual who likely cannot buy a house, a car, or even sign a lease.
you will have $60-75k loans still with a degree you can't use. T14 biglaw for a few years pay off the loans. Maybe you do LRAP and PI. $60-75k with no job is worse place to be.
remember, 150k in loans is like a mortgage for a house, only with a worse interest rate. also, you can't live inside a piece of paper, no matter how fancy the name on it is.
op, please listen to your wallet and your future self screaming at you from the beyond. take the full ride.
I have a mortgage right now, and I turned down full-ride/near fullrides. I don't have to take out PLUS loans for the next 2 years. It could work out. Yes, maybe there is only a 10-20% chance to land a 1L SA (it seem about right this year). But there is only a 20% chance of landing in the top 1/5 at BU. Same odds, what benefit?