How far into debt would you go to attend UCLA?

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Is 150k of debt a reasonable debt load to attend UCLA? Payment is $1750 a month

Reasonable
35
42%
Not Reasonable
48
58%
 
Total votes: 83

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flem
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Re: How far into debt would you go to attend UCLA?

Postby flem » Tue May 01, 2012 11:00 am

Paul Campos wrote:UCLA and USC are basically the same school for your purposes. That school isn't worth taking out $150K in loans (which as pointed out results in close to $180K in graduation debt). It might be worth taking out $90K in loans. The fact that you're even debating this is a sign of the extent to which 0Ls tend not to think of the money they're borrowing to go to law school as real money. Would you pay $60K extra for another model of the same car because you liked the color better and it had a sun roof?


If you're not careful you're going to troll yourself out of a job.

edit: lol scooped

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bk1
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Re: How far into debt would you go to attend UCLA?

Postby bk1 » Tue May 01, 2012 11:02 am

I'd say that's about 50k more than I would want to pay for UCLA/USC once interest is factored in.

SaintFond
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Re: How far into debt would you go to attend UCLA?

Postby SaintFond » Tue May 01, 2012 11:20 am

AffordablePrep wrote:
SaintFond wrote:I wouldn't do 150K at UCLA in this economy, unless you somehow KNEW you could pull top 20% there.

if usc wasn't there, i think ucla at 150k total debt is not that bad. i don't think top 20% would be necessary - def above average, but top 20% prob not needed to make it an okay choice if OP wants to be a lawyer. UCLA is also a good enough school that OP should be able to cut the debt down during the 2L summer at least a bit....


UCLA's NLJ250 placement last year was like 22.5%. Would you go into 150K debt for a 20-25% chance of BigLaw? I wouldn't.

In previous years, I think UCLA's placement has been more like 30-40%, which is decent (relatively speaking), but now--for whatever reason--they've taken a big hit. I understand that it's gotten better and their placement is now approaching 30%, but I still don't think it's worth 150K.

By contrast, USC had a surprising 30ish% placement rate last year. Perhaps because of their alumni network? I don't know.

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skers
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Re: How far into debt would you go to attend UCLA?

Postby skers » Tue May 01, 2012 11:35 am

SaintFond wrote:
AffordablePrep wrote:
SaintFond wrote:I wouldn't do 150K at UCLA in this economy, unless you somehow KNEW you could pull top 20% there.

if usc wasn't there, i think ucla at 150k total debt is not that bad. i don't think top 20% would be necessary - def above average, but top 20% prob not needed to make it an okay choice if OP wants to be a lawyer. UCLA is also a good enough school that OP should be able to cut the debt down during the 2L summer at least a bit....


UCLA's NLJ250 placement last year was like 22.5%. Would you go into 150K debt for a 20-25% chance of BigLaw? I wouldn't.

In previous years, I think UCLA's placement has been more like 30-40%, which is decent (relatively speaking), but now--for whatever reason--they've taken a big hit. I understand that it's gotten better and their placement is now approaching 30%, but I still don't think it's worth 150K.

By contrast, USC had a surprising 30ish% placement rate last year. Perhaps because of their alumni network? I don't know.


Eh. Peer schools are peer.

JamesChapman23
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Re: How far into debt would you go to attend UCLA?

Postby JamesChapman23 » Tue May 01, 2012 11:36 am

Your math is wrong considering there are no more sub loans. All your loans accrue interest immediately after distribution at 6.8 (staff) or 8.5 (gradplus). So factor in 3 years of compound interest as well, which is like 3,500 dollars a year.

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bk1
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Re: How far into debt would you go to attend UCLA?

Postby bk1 » Tue May 01, 2012 11:59 am

SaintFond wrote:By contrast, USC had a surprising 30ish% placement rate last year. Perhaps because of their alumni network? I don't know.


USC and UCLA have jostled back and forth in biglaw/clerkship placement. They are peer even though there might be years where one does better. USC also has a small class size (200ish) and is susceptible to big swings in percentage both up and down.

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splitbrain
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Re: How far into debt would you go to attend UCLA?

Postby splitbrain » Tue May 01, 2012 12:12 pm

Paul Campos wrote:Would you pay $60K extra for another model of the same car because you liked the color better and it had a sun roof?

Did you spend more than 2 seconds coming up with that analogy? You might want to work on that one...

SaintFond
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Re: How far into debt would you go to attend UCLA?

Postby SaintFond » Tue May 01, 2012 12:17 pm

bk1 wrote:
SaintFond wrote:By contrast, USC had a surprising 30ish% placement rate last year. Perhaps because of their alumni network? I don't know.


USC and UCLA have jostled back and forth in biglaw/clerkship placement. They are peer even though there might be years where one does better. USC also has a small class size (200ish) and is susceptible to big swings in percentage both up and down.


I am aware that they are peers. On top of that, I suspect UCLA has a slight edge over USC, all things considered. However, it ultimately comes down to placement: If one has a better chance of getting BigLaw out of USC (and USC is offering more money), then one should probably go to USC.

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bk1
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Re: How far into debt would you go to attend UCLA?

Postby bk1 » Tue May 01, 2012 12:20 pm

SaintFond wrote:I am aware that they are peers. On top of that, I suspect UCLA has a slight edge over USC, all things considered. However, it ultimately comes down to placement: If one has a better chance of getting BigLaw out of USC (and USC is offering more money), then one should probably go to USC.


So to translate:

"I know they are peers. But I think UCLA is better. But if USC is better go to USC."

lolwut

Paul Campos
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Re: How far into debt would you go to attend UCLA?

Postby Paul Campos » Tue May 01, 2012 12:32 pm

splitbrain wrote:
Paul Campos wrote:Would you pay $60K extra for another model of the same car because you liked the color better and it had a sun roof?

Did you spend more than 2 seconds coming up with that analogy? You might want to work on that one...


USC and UCLA are the same car.

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FlanAl
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Re: How far into debt would you go to attend UCLA?

Postby FlanAl » Tue May 01, 2012 12:47 pm

Paul Campos wrote:
splitbrain wrote:
Paul Campos wrote:Would you pay $60K extra for another model of the same car because you liked the color better and it had a sun roof?

Did you spend more than 2 seconds coming up with that analogy? You might want to work on that one...


USC and UCLA are the same car.


but are they on the same road?

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boredatwork
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Re: How far into debt would you go to attend UCLA?

Postby boredatwork » Tue May 01, 2012 1:02 pm

The CA courts are making cuts that will make the practice of law much much more difficult. I would keep that in mind while you make your decision. Highlights include
- the most significant reduction in staff and services in the court's history
-closing 56 court rooms
-not providing court reporters for civil trials
- the consolidation of limited civil trials into a few courts
The court is underfunded and has way too many cases. I don't know what the end result will be, but I would bet it won't be good for lawyers.

JasonR
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Re: How far into debt would you go to attend UCLA?

Postby JasonR » Tue May 01, 2012 6:42 pm

slsorhls wrote:Personally I'm really unsure about going into that much debt for HLS or SLS, let alone UCLA.


Jesus Christ, you are an insufferable little shit. Are you just totally lacking in any self-awareness at all?

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moneybagsphd
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Re: How far into debt would you go to attend UCLA?

Postby moneybagsphd » Tue May 01, 2012 6:53 pm

Paul Campos wrote:UCLA and USC are basically the same school for your purposes. That school isn't worth taking out $150K in loans (which as pointed out results in close to $180K in graduation debt). It might be worth taking out $90K in loans. The fact that you're even debating this is a sign of the extent to which 0Ls tend not to think of the money they're borrowing to go to law school as real money. Would you pay $60K extra for another model of the same car because you liked the color better and it had a sun roof?

This is highly credited.

Snake90
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Joined: Wed Dec 07, 2011 3:16 am

Re: How far into debt would you go to attend UCLA?

Postby Snake90 » Wed May 02, 2012 3:15 am

moneybagsphd wrote:
Paul Campos wrote:UCLA and USC are basically the same school for your purposes. That school isn't worth taking out $150K in loans (which as pointed out results in close to $180K in graduation debt). It might be worth taking out $90K in loans. The fact that you're even debating this is a sign of the extent to which 0Ls tend not to think of the money they're borrowing to go to law school as real money. Would you pay $60K extra for another model of the same car because you liked the color better and it had a sun roof?

This is highly credited.



I see your point. Thank you everyone for taking the time to write to me and help answer my question. My feelings at this point is that it would be much too great of a debt load to come out of school down 180k with only a 30% chance of a big law job to help pay the loan. Looks like I will be living at home to save money and then only paying about 28k of tuition a year at USC. I think that's pretty reasonable. Thank you!

rad lulz
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Re: How far into debt would you go to attend UCLA?

Postby rad lulz » Wed May 02, 2012 3:25 am

$100kish. So if you get a small firm jerb your life won't suck.

Snake90
Posts: 32
Joined: Wed Dec 07, 2011 3:16 am

Re: How far into debt would you go to attend UCLA?

Postby Snake90 » Wed May 02, 2012 3:52 am

rad lulz wrote:$100kish. So if you get a small firm jerb your life won't suck.


Ha. True that.




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