Michigan 15k or GW 100k?

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Minesweeper

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Michigan 15k or GW 100k?

Postby Minesweeper » Thu May 10, 2012 2:28 pm

No stipulations on scholarships. Would like to get into biglaw. International student. U of M offered total 15k and GW offered total 100k. Any feedback is appreciated.

ETA: No IP background.
Last edited by Minesweeper on Fri May 11, 2012 11:16 am, edited 1 time in total.

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2014

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Re: Michigan 15k or GW 100k?

Postby 2014 » Thu May 10, 2012 2:51 pm

Given that you are an international student you aren't going to get GradPlus loans right? That means you will have a much harder time getting your debt forgiven should you either miss the biglaw boat or get laid off pre-partner. I think there is definite merit to taking the money given that the standard plan B of LRAP/IBR/10 year forgiveness/25 year forgiveness are all pretty much off the table.

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Doorkeeper

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Re: Michigan 15k or GW 100k?

Postby Doorkeeper » Thu May 10, 2012 2:54 pm

If you want biglaw, I think you have to go Michigan here. GW got destroyed in the latest numbers.

CanadianWolf

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Re: Michigan 15k or GW 100k?

Postby CanadianWolf » Thu May 10, 2012 3:13 pm

As a foreign student, you probably need to take the $100,000 scholarship offer from GWU even though Michigan offers better job prospects. However, if you are wealthy, or unafraid of $200,000 debt, then Michigan might be the better option.

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togepi

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Re: Michigan 15k or GW 100k?

Postby togepi » Thu May 10, 2012 3:15 pm

CanadianWolf wrote:As a foreign student, you probably need to take the $100,000 scholarship offer from GWU even though Michigan offers better job prospects. However, if you are wealthy, or unafraid of $200,000 debt, then Michigan might be the better option.


+1

If biglaw is what you want, definitely Michigan. Congratulations on getting admitted there by the way. Find some way to finance it and you'll have a good shot at paying it back. George Washington is pretty risky, although a pretty generous scholarship (unless you have an IP background then things might change a little)

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sky7

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Re: Michigan 15k or GW 100k?

Postby sky7 » Thu May 10, 2012 3:20 pm

togepi wrote:
CanadianWolf wrote:As a foreign student, you probably need to take the $100,000 scholarship offer from GWU even though Michigan offers better job prospects. However, if you are wealthy, or unafraid of $200,000 debt, then Michigan might be the better option.


+1

If biglaw is what you want, definitely Michigan. Congratulations on getting admitted there by the way. Find some way to finance it and you'll have a good shot at paying it back. George Washington is pretty risky, although a pretty generous scholarship (unless you have an IP background then things might change a little)


If IP, GW. If not, Michigan.

Paul Campos

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Re: Michigan 15k or GW 100k?

Postby Paul Campos » Thu May 10, 2012 3:23 pm

A $100,000 scholarship to GW is still going to leave you with more than $150,000 in debt at graduation if you debt finance your remaining COA.

Minesweeper

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Re: Michigan 15k or GW 100k?

Postby Minesweeper » Thu May 10, 2012 5:12 pm

Thanks, this is really helping. Keep it coming.

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Renne Walker

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Re: Michigan 15k or GW 100k?

Postby Renne Walker » Thu May 10, 2012 5:44 pm

100K versus 15K. Easily GW. If you were going to CNC, or possibly PBV, maybe, just maybe it would be a close call. GW is consistently #20. Going to school in DC is certainly an added life style advantage too. Take the $$$. .

sandiego222

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Re: Michigan 15k or GW 100k?

Postby sandiego222 » Thu May 10, 2012 5:56 pm

Renne Walker wrote:100K versus 15K. Easily GW. If you were going to CNC, or possibly PBV, maybe, just maybe it would be a close call. GW is consistently #20. Going to school in DC is certainly an added life style advantage too. Take the $$$. .


No it's not. DC stinks when you're poor. I spent 3 years out of college there. Ann Arbor would be WAY better of a place to be as a student.

Also.... Michigan is comparable to PBV. Talk about an overreaction to one or two years of employment numbers (that still blow away GW's). Given that GW would still put you in a ton of debt, Michigan is a strong option here

droidtime

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Re: Michigan 15k or GW 100k?

Postby droidtime » Thu May 10, 2012 7:25 pm

GW. Take the $$$.

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moneybagsphd

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Re: Michigan 15k or GW 100k?

Postby moneybagsphd » Thu May 10, 2012 7:36 pm

Renne Walker wrote:100K versus 15K. Easily GW. If you were going to CNC, or possibly PBV, maybe, just maybe it would be a close call. GW is consistently #20. Going to school in DC is certainly an added life style advantage too. Take the $$$. .

Egregious anti-Michigan trolling. Also, LOL @ CNC.

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El_Gallo

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Re: Michigan 15k or GW 100k?

Postby El_Gallo » Thu May 10, 2012 7:56 pm

As somebody that is usually very debt adverse, I say go to Michigan. Even with a 100k discount, GW is going to put you well into the 6 figures of debt. That is pretty much Biglaw or bust territory and Biglaw from GW is unlikely.

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Cartman

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Re: Michigan 15k or GW 100k?

Postby Cartman » Thu May 10, 2012 8:21 pm

100k is a nice chunk of change. Just saying. Take the $$$ and run.

Minesweeper

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Re: Michigan 15k or GW 100k?

Postby Minesweeper » Fri May 11, 2012 9:27 am

El_Gallo wrote:As somebody that is usually very debt adverse, I say go to Michigan. Even with a 100k discount, GW is going to put you well into the 6 figures of debt. That is pretty much Biglaw or bust territory and Biglaw from GW is unlikely.


I live in DC now and know what the cost is like. I punched in some numbers and even with the discounts above, my cost at GW would be 130k in debt, and from Michigan 195k in debt.

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Re: Michigan 15k or GW 100k?

Postby CanadianWolf » Fri May 11, 2012 10:11 am

At 6.8% interest, which is unlikely since you're not a US citizen, Michigan would cost $213,000 after discounting $5,000 a year. If borrowing, your interest is likely to be higher than 6.8% available to US citizens.

GWU, due in large part to the high cost of living, would cost $150,000 at 6.8% interest.

If you could live more affordably in DC than GWU estimates--since you're already there--then you could reduce the total cost of attending GWU.

Do you need loans to pay for law school ?

Are you qualified for & interested in pursuing IP law ? If so, Then GWU. If not, then ask Michigan for more money.

Minesweeper

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Re: Michigan 15k or GW 100k?

Postby Minesweeper » Fri May 11, 2012 1:27 pm

Just updated. Yes, no IP background, and I'd have to finance either through loans.

JasonR

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Re: Michigan 15k or GW 100k?

Postby JasonR » Fri May 11, 2012 2:04 pm

Minesweeper wrote:
El_Gallo wrote:As somebody that is usually very debt adverse, I say go to Michigan. Even with a 100k discount, GW is going to put you well into the 6 figures of debt. That is pretty much Biglaw or bust territory and Biglaw from GW is unlikely.


I live in DC now and know what the cost is like. I punched in some numbers and even with the discounts above, my cost at GW would be 130k in debt, and from Michigan 195k in debt.


You're in BigLaw or bust territory with either one, and both are scary. But $65K is worth not being likely totally screwed when it comes to finding a job to pay off all that debt.

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thelawyler

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Re: Michigan 15k or GW 100k?

Postby thelawyler » Mon May 14, 2012 1:05 am

Renne Walker wrote:100K versus 15K. Easily GW. If you were going to CNC, or possibly PBV, maybe, just maybe it would be a close call. GW is consistently #20. Going to school in DC is certainly an added life style advantage too. Take the $$$. .

lol obvious troll.

Take Michigan.

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Helmholtz

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Re: Michigan 15k or GW 100k?

Postby Helmholtz » Mon May 14, 2012 1:09 am

JasonR wrote:
Minesweeper wrote:
El_Gallo wrote:As somebody that is usually very debt adverse, I say go to Michigan. Even with a 100k discount, GW is going to put you well into the 6 figures of debt. That is pretty much Biglaw or bust territory and Biglaw from GW is unlikely.


I live in DC now and know what the cost is like. I punched in some numbers and even with the discounts above, my cost at GW would be 130k in debt, and from Michigan 195k in debt.


You're in BigLaw or bust territory with either one, and both are scary. But $65K is worth not being likely totally screwed when it comes to finding a job to pay off all that debt.


+1

GWU is not a good place to be in this economy. It's not like biglaw is a sure thing from Michigan, but a very substantial amount of the class gets it—certainly enough to justify an extra $65k.



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