I Need HELP TO DECIDE WHERE TO GO!!!

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jarofsoup
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby jarofsoup » Sat Mar 31, 2012 12:10 am

I would feel very sorry for if you decide not to go to Northwestern. I am not actually sure why you actually posted on this webpage.

nini11
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby nini11 » Mon Apr 02, 2012 9:13 pm

jarofsoup wrote:I would feel very sorry for if you decide not to go to Northwestern. I am not actually sure why you actually posted on this webpage.


:( loans...scary.....

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spleenworship
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby spleenworship » Mon Apr 02, 2012 9:50 pm

nini11 wrote:
jarofsoup wrote:I would feel very sorry for if you decide not to go to Northwestern. I am not actually sure why you actually posted on this webpage.


:( loans...scary.....


I agree. Of u arent scared of $250,000 in debt, you are crazy.

jarofsoup
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby jarofsoup » Mon Apr 02, 2012 10:16 pm

Yeah but choose the alternatives over Northwestern. Hofstra???? That is even more crazy.

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Chucky21
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby Chucky21 » Mon Apr 02, 2012 10:26 pm

I understand that debt can be scary. However, Northwestern has a reputation as an elite law school in the T 14, and this is perhaps all that matters in this economy. Although the economy seems to be recovering, Northwestern carries more weight than Hofstra or any of the other options you mentioned.

I would even say your chances at biglaw from NU is greater than the 60% chance mentioned previously. Some students self select out of biglaw, some want clerkships etc. This school will open many more doors for you and the debt will be paid off because it is most likely that you do land a big law job. Of course there is some risk, but if you bid on firms well, interview reasonably well, then you realistically should place into biglaw.

If this is not what you want, then I advise that you retake and reapply next year and get some scholarships from the lower T 14.

ryemanhattan
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby ryemanhattan » Mon Apr 02, 2012 10:38 pm

I'm having a very similar debate. I just got my student loan package from NU and, not surprisingly, I'm not receiving any scholarship $. I am leaning away from Northwestern now, as 250k is fucking terrifying. It will take a solid five years of big law work to pay that off. Three years of law school and five years of 65+ hour weeks to break even... FML. And, of course, there is always the small but very real chance you won't land biglaw (or LRAPable PI work) out of NU, which I won't even think about.

I'm 32. Maybe I would be less debt-averse if I were 25. Maybe not. I'm now weighing CU Boulder, Irvine, Hastings, and non-law school options. Hanging in on UVA's waitlist.

The drop from Northwestern to Hofstra in regards to job options is massive; hard to overstate this. But for me 250k is just too damn much. Don't know if I would pay that for any non HYS school. Good luck with your decision.

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sunynp
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby sunynp » Mon Apr 02, 2012 10:57 pm

Do you really think you can pay back $250,000 in debt in 5 years on a biglaw salary? I don't know how that would be possible. Maybe because I live in Manhattan, it just doesn't seem doable.

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bk1
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby bk1 » Mon Apr 02, 2012 11:01 pm

sunynp wrote:Do you really think you can pay back $250,000 in debt in 5 years on a biglaw salary? I don't know how that would be possible. Maybe because I live in Manhattan, it just doesn't seem doable.


It should be possible if you can live off 70k/year post-tax/post-repayment.

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Mr. Somebody
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby Mr. Somebody » Mon Apr 02, 2012 11:42 pm

bk1 wrote:
sunynp wrote:Do you really think you can pay back $250,000 in debt in 5 years on a biglaw salary? I don't know how that would be possible. Maybe because I live in Manhattan, it just doesn't seem doable.


It should be possible if you can live off 70k/year post-tax/post-repayment.

Huh? 30k times five would be 150k? Am I missing something?

nini11
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby nini11 » Tue Apr 03, 2012 12:25 am

Chucky21 wrote:I understand that debt can be scary. However, Northwestern has a reputation as an elite law school in the T 14, and this is perhaps all that matters in this economy. Although the economy seems to be recovering, Northwestern carries more weight than Hofstra or any of the other options you mentioned.

I would even say your chances at biglaw from NU is greater than the 60% chance mentioned previously. Some students self select out of biglaw, some want clerkships etc. This school will open many more doors for you and the debt will be paid off because it is most likely that you do land a big law job. Of course there is some risk, but if you bid on firms well, interview reasonably well, then you realistically should place into biglaw.

If this is not what you want, then I advise that you retake and reapply next year and get some scholarships from the lower T 14.


I actually agree with you, I was thinking about deferring my acceptances if possible and retake the LSAT...but I don't know if I want to wait a year....

nini11
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby nini11 » Tue Apr 03, 2012 12:30 am

ryemanhattan wrote:I'm having a very similar debate. I just got my student loan package from NU and, not surprisingly, I'm not receiving any scholarship $. I am leaning away from Northwestern now, as 250k is fucking terrifying. It will take a solid five years of big law work to pay that off. Three years of law school and five years of 65+ hour weeks to break even... FML. And, of course, there is always the small but very real chance you won't land biglaw (or LRAPable PI work) out of NU, which I won't even think about.

I'm 32. Maybe I would be less debt-averse if I were 25. Maybe not. I'm now weighing CU Boulder, Irvine, Hastings, and non-law school options. Hanging in on UVA's waitlist.

The drop from Northwestern to Hofstra in regards to job options is massive; hard to overstate this. But for me 250k is just too damn much. Don't know if I would pay that for any non HYS school. Good luck with your decision.


I feel you. I'm 24 but I already have debts from undergrad, I don't really feel like adding 250k to it...if it was for an HYS school I think I would not be that scared, but when I compared the percentage of people who got jobs as well as the median starting salary for those schools the other day, (using the US news), it was close to the same for all of the t12 schools...
Thank you, same to you!

nini11
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby nini11 » Tue Apr 03, 2012 12:38 am

Chucky21 wrote:I understand that debt can be scary. However, Northwestern has a reputation as an elite law school in the T 14, and this is perhaps all that matters in this economy. Although the economy seems to be recovering, Northwestern carries more weight than Hofstra or any of the other options you mentioned.

I would even say your chances at biglaw from NU is greater than the 60% chance mentioned previously. Some students self select out of biglaw, some want clerkships etc. This school will open many more doors for you and the debt will be paid off because it is most likely that you do land a big law job. Of course there is some risk, but if you bid on firms well, interview reasonably well, then you realistically should place into biglaw.

If this is not what you want, then I advise that you retake and reapply next year and get some scholarships from the lower T 14.


I actually computed all the expenses involved for each of the schools, took the median starting salary of each, and pretended that I would try to pay the loans in 3 years with it. So for example, if the median starting salary of school is 160000 and I borrow 70000 a year, then I would subtract lets say 80000. the difference would be what I would be left with... I may be going crazy lool, and I know that those numbers are not really exact, but I was just trying to see something. Based on those pretty crazy non "scientific" numbers lol NU seems to be the best option, regardless of the huge amount of loans so yeah...I just don't know...

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Blessedassurance
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby Blessedassurance » Tue Apr 03, 2012 12:40 am

nini11 wrote: ... but when I compared the percentage of people who got jobs as well as the median starting salary for those schools the other day, (using the US news)...


You shouldn't be doing that. Find a more reputable source with numbers closer to the truth. Then question those numbers.

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Blessedassurance
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby Blessedassurance » Tue Apr 03, 2012 12:41 am

nini11 wrote: I actually computed all the expenses involved for each of the schools, took the median starting salary of each, and pretended that I would try to pay the loans in 3 years with it. So for example, if the median starting salary of school is 160000 and I borrow 70000 a year, then I would subtract lets say 80000. the difference would be what I would be left with... I may be going crazy lool, and I know that those numbers are not really exact, but I was just trying to see something. Based on those pretty crazy non "scientific" numbers lol NU seems to be the best option, regardless of the huge amount of loans so yeah...I just don't know...


Don't forget to pay your taxes, Wesley.

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top30man
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby top30man » Tue Apr 03, 2012 12:42 am

Blessedassurance wrote:
nini11 wrote: ... but when I compared the percentage of people who got jobs as well as the median starting salary for those schools the other day, (using the US news)...


You shouldn't be doing that. Find a more reputable source with numbers closer to the truth. Then question those numbers.

Agreed. If you cant find reputable numbers, thats a bad sign for that school. Id choose NU, fwiw.

nini11
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby nini11 » Tue Apr 03, 2012 12:44 am

Blessedassurance wrote:
nini11 wrote: ... but when I compared the percentage of people who got jobs as well as the median starting salary for those schools the other day, (using the US news)...


You shouldn't be doing that. Find a more reputable source with numbers closer to the truth. Then question those numbers.


Do you know any other reputable source that I can consult by any chance?

nini11
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby nini11 » Tue Apr 03, 2012 12:46 am

Blessedassurance wrote:
nini11 wrote: I actually computed all the expenses involved for each of the schools, took the median starting salary of each, and pretended that I would try to pay the loans in 3 years with it. So for example, if the median starting salary of school is 160000 and I borrow 70000 a year, then I would subtract lets say 80000. the difference would be what I would be left with... I may be going crazy lool, and I know that those numbers are not really exact, but I was just trying to see something. Based on those pretty crazy non "scientific" numbers lol NU seems to be the best option, regardless of the huge amount of loans so yeah...I just don't know...


Don't forget to pay your taxes, Wesley.


Lol indeed, I forgot about that ;)

nini11
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby nini11 » Tue Apr 03, 2012 12:47 am

Blessedassurance wrote:
nini11 wrote: ... but when I compared the percentage of people who got jobs as well as the median starting salary for those schools the other day, (using the US news)...


You shouldn't be doing that. Find a more reputable source with numbers closer to the truth. Then question those numbers.



The US News is not good?

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Blessedassurance
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby Blessedassurance » Tue Apr 03, 2012 12:48 am

nini11 wrote:
Blessedassurance wrote:
nini11 wrote: ... but when I compared the percentage of people who got jobs as well as the median starting salary for those schools the other day, (using the US news)...


You shouldn't be doing that. Find a more reputable source with numbers closer to the truth. Then question those numbers.


Do you know any other reputable source that I can consult by any chance?


Start here:

http://www.lawschooltransparency.com/

This is not to say the above is perfect but it is significantly better than your current source. You can also search this forum for various threads on the subject. I'll try to find one of those threads shortly.

nini11
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby nini11 » Tue Apr 03, 2012 12:51 am

Blessedassurance wrote:
nini11 wrote:
Blessedassurance wrote:
nini11 wrote: ... but when I compared the percentage of people who got jobs as well as the median starting salary for those schools the other day, (using the US news)...


You shouldn't be doing that. Find a more reputable source with numbers closer to the truth. Then question those numbers.


Do you know any other reputable source that I can consult by any chance?


Start here:

http://www.lawschooltransparency.com/

This is not to say the above is perfect but it is significantly better than your current source. You can also search this forum for various threads on the subject. I'll try to find one of those threads shortly.



Thank you very much for your help :) I am going to check it right now :)

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Blessedassurance
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby Blessedassurance » Tue Apr 03, 2012 12:56 am

nini11 wrote:
Blessedassurance wrote:
nini11 wrote: ... but when I compared the percentage of people who got jobs as well as the median starting salary for those schools the other day, (using the US news)...


You shouldn't be doing that. Find a more reputable source with numbers closer to the truth. Then question those numbers.



The US News is not good?


No.

Also, read the following:

viewtopic.php?f=1&t=181723&p=5374805&hilit=employment+numbers#p5374805

http://www.top-law-schools.com/forums/v ... 1&t=181415

nini11
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby nini11 » Tue Apr 03, 2012 1:22 am

Start here:

http://www.lawschooltransparency.com/

This is not to say the above is perfect but it is significantly better than your current source. You can also search this forum for various threads on the subject. I'll try to find one of those threads shortly.[/quote]


Thank you very much for your help :) I am going to check it right now :)[/quote]

I like this website better than the US News, it is very detailed! but I noticed that some of the info's are from the US News.

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bk1
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby bk1 » Tue Apr 03, 2012 1:25 am

Mr. Somebody wrote:
bk1 wrote:
sunynp wrote:Do you really think you can pay back $250,000 in debt in 5 years on a biglaw salary? I don't know how that would be possible. Maybe because I live in Manhattan, it just doesn't seem doable.


It should be possible if you can live off 70k/year post-tax/post-repayment.

Huh? 30k times five would be 150k? Am I missing something?

Raises/Bonuses

jarofsoup
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby jarofsoup » Tue Apr 03, 2012 10:26 am

What is scarier then loans is spending three years at a law school and then employers do not recognize your degree.

The first thing to learn about this industry is it is snobby. People care about the name on of your school.

Big law firms pitch you to their clients and it is very hard to do this when you have a lower end school on your resume.

nini11
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Re: I Need HELP TO DECIDE WHERE TO GO!!!

Postby nini11 » Tue Apr 03, 2012 11:15 am

jarofsoup wrote:What is scarier then loans is spending three years at a law school and then employers do not recognize your degree.

The first thing to learn about this industry is it is snobby. People care about the name on of your school.

Big law firms pitch you to their clients and it is very hard to do this when you have a lower end school on your resume.


That is exactly right, I care about the name of my school as well for the reasons you mentioned. The other day I met those lawyers who work in a huge firms in long island, they graduated from Hofstra Law and are now getting paid really well for their services, I want to go talk to them to know what they think, hopefully they can be objective even if they graduated from Hofstra.....




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