What COA would you be okay with for Chicago?

(Rankings, Profiles, Tuition, Student Life, . . . )

What COA would you be okay with for Chicago?

$0
5
4%
$40,000
1
1%
$60,000
4
3%
$80,000
12
10%
$100,000
20
17%
$150,000
41
34%
>$200,000
38
31%
 
Total votes: 121

Dr. Gaius Baltar
Posts: 44
Joined: Fri Feb 08, 2013 3:38 pm

What COA would you be okay with for Chicago?

Postby Dr. Gaius Baltar » Fri Mar 08, 2013 8:09 pm

I'm in, but I don't anticipate getting much aid. I'm leaning towards going regardless of price. I'd appreciate any thoughts. Please say why you'd be okay with a certain debt level, or not.

Also, has anyone successfully negotiated aid with Chicago?
Last edited by Dr. Gaius Baltar on Sun Apr 07, 2013 1:03 pm, edited 1 time in total.

User avatar
Emma.
Posts: 2401
Joined: Sun Oct 05, 2008 7:57 pm

Re: What COA would you be okay with for Chicago?

Postby Emma. » Sat Mar 09, 2013 7:58 pm

What're your other options? Career goals?

Dr. Gaius Baltar
Posts: 44
Joined: Fri Feb 08, 2013 3:38 pm

Re: What COA would you be okay with for Chicago?

Postby Dr. Gaius Baltar » Sat Mar 09, 2013 8:10 pm

I want big law, but I don't want to HAVE to do it in order to pay off loans. I've read a lot of stories about people who end up despising big law and want to leave but can't because of loan payments.

I'm still waiting on information from Duke and Cornell.
Last edited by Dr. Gaius Baltar on Fri Mar 15, 2013 7:50 pm, edited 1 time in total.

User avatar
eav1277
Posts: 375
Joined: Sat Feb 25, 2012 9:58 am

Re: What COA would you be okay with for Chicago?

Postby eav1277 » Sat Mar 09, 2013 8:36 pm

Idk how so many people can be comfortable with over 200K in debt. If it's HYS, I can understand but anywhere outside of that is a little crazy. Sure you have a great shot at big law but what happens if you get sick, fired, let go, or hate the job? Or if you are going the PI/LRAP route, you are going to have a huuuuge amount of debt. So you better hope you stay employed.

Also just curious, how hard is it to get credit/car loans/home loan with this kind of debt? Do they treat it differently than other debt if you can show it's getting covered by LRAP/will be gone in 10 years?

Not to discourage the OP at all. Just know what you are risking. I voted 150K. still a lot of money

Dr. Gaius Baltar
Posts: 44
Joined: Fri Feb 08, 2013 3:38 pm

Re: What COA would you be okay with for Chicago?

Postby Dr. Gaius Baltar » Sat Mar 09, 2013 8:48 pm

eav1277 wrote:Idk how so many people can be comfortable with over 200K in debt. If it's HYS, I can understand but anywhere outside of that is a little crazy. Sure you have a great shot at big law but what happens if you get sick, fired, let go, or hate the job? Or if you are going the PI/LRAP route, you are going to have a huuuuge amount of debt. So you better hope you stay employed.

Also just curious, how hard is it to get credit/car loans/home loan with this kind of debt? Do they treat it differently than other debt if you can show it's getting covered by LRAP/will be gone in 10 years?

Not to discourage the OP at all. Just know what you are risking. I voted 150K. still a lot of money


Very valid points. My original plan was to be less than 100K in debt because of these points but the more I learn about Chicago, the more I like it. I'm pretty surprised to find myself in the position of considering sticker.

User avatar
eav1277
Posts: 375
Joined: Sat Feb 25, 2012 9:58 am

Re: What COA would you be okay with for Chicago?

Postby eav1277 » Sat Mar 09, 2013 8:59 pm

Not saying don't do it, but I think ppl on TLS are often a little too gung ho about sticker at some of the T-14.

Chicago is a great school though congrats. Near the end of the cycle try to squeeze some money out of them. The whole love your school, debt scares me, other options thing. Every little bit helps 8)

Dr. Gaius Baltar
Posts: 44
Joined: Fri Feb 08, 2013 3:38 pm

Re: What COA would you be okay with for Chicago?

Postby Dr. Gaius Baltar » Sat Mar 09, 2013 9:07 pm

eav1277 wrote:Not saying don't do it, but I think ppl on TLS are often a little too gung ho about sticker at some of the T-14.

Chicago is a great school though congrats. Near the end of the cycle try to squeeze some money out of them. The whole love your school, debt scares me, other options thing. Every little bit helps 8)


I'll definitely try. Thanks!

Dr. Gaius Baltar
Posts: 44
Joined: Fri Feb 08, 2013 3:38 pm

Re: What COA would you be okay with for Chicago?

Postby Dr. Gaius Baltar » Fri Mar 15, 2013 7:52 pm

So, my fear has been realized. No significant scholarship. I got 15k. I'm seriously trying to decide what to do at this point. Any insight is welcome.

User avatar
skers
Posts: 4950
Joined: Thu Jun 03, 2010 12:33 am

Re: What COA would you be okay with for Chicago?

Postby skers » Fri Mar 15, 2013 8:04 pm

15k a year or 15k total?

talesofyore
Posts: 294
Joined: Fri Sep 07, 2012 10:21 pm

Re: What COA would you be okay with for Chicago?

Postby talesofyore » Fri Mar 15, 2013 8:23 pm

.
Last edited by talesofyore on Fri Mar 15, 2013 9:55 pm, edited 1 time in total.

User avatar
ManOfTheMinute
Posts: 1562
Joined: Tue Apr 10, 2012 12:54 am

Re: What COA would you be okay with for Chicago?

Postby ManOfTheMinute » Fri Mar 15, 2013 8:35 pm

The 36% who voted >200K are crazy.

User avatar
Balthy
Posts: 668
Joined: Sat Apr 03, 2010 12:28 pm

Re: What COA would you be okay with for Chicago?

Postby Balthy » Fri Mar 15, 2013 8:41 pm

eav1277 wrote:Idk how so many people can be comfortable with over 200K in debt. If it's HYS, I can understand but anywhere outside of that is a little crazy. Sure you have a great shot at big law but what happens if you get sick, fired, let go, or hate the job? Or if you are going the PI/LRAP route, you are going to have a huuuuge amount of debt. So you better hope you stay employed.

Also just curious, how hard is it to get credit/car loans/home loan with this kind of debt? Do they treat it differently than other debt if you can show it's getting covered by LRAP/will be gone in 10 years?

Not to discourage the OP at all. Just know what you are risking. I voted 150K. still a lot of money



What makes it understandable with HYS? Can't you also get sick, fired, or end up hating the job? And I think Biglaw chances are virtually the same, right?

Dr. Gaius Baltar
Posts: 44
Joined: Fri Feb 08, 2013 3:38 pm

Re: What COA would you be okay with for Chicago?

Postby Dr. Gaius Baltar » Fri Mar 15, 2013 8:54 pm

TemporarySaint wrote:15k a year or 15k total?


I don't see much of a difference between 45k and 15K at that level of debt, so I'd be just as petrified if it were 15 grand annually but it's not. It's 15k total.

User avatar
skers
Posts: 4950
Joined: Thu Jun 03, 2010 12:33 am

Re: What COA would you be okay with for Chicago?

Postby skers » Fri Mar 15, 2013 9:11 pm

I don't really get the whole 'there's not difference between 15k and 45k' bit as 30k with interest is far from insignificant especially as you compare different scholarship figures.

Honestly, I'd be worried if y'all weren't scared as the amount of debt it takes to get a legal education is fucking absurd. UChicago is a great school and I'm really happy with my decision, but YMMV. No one is really going to be able to tell you the 'right' decision as career goals and debt comfortability levels are really fucking personal. Sit down, crunch the numbers, and figure what odds/debt loads you are comfortable with. I will say as a general matter, if you're a k-JD take a year (or 2) off. There's no reason to rush to law school.

Feel free to PM me if y'all have more specific questions.

User avatar
sinfiery
Posts: 3308
Joined: Thu Jul 14, 2011 2:55 am

Re: What COA would you be okay with for Chicago?

Postby sinfiery » Fri Mar 15, 2013 9:17 pm

Lol @ not caring about $30,000

User avatar
Bronck
Posts: 2025
Joined: Fri Jan 27, 2012 1:28 pm

Re: What COA would you be okay with for Chicago?

Postby Bronck » Fri Mar 15, 2013 9:24 pm

Less than $200k IMO. I'll be going into ~$180k of debt for CLS and even then the debt terrifies me.

adoseofwendy
Posts: 38
Joined: Sat Mar 24, 2012 1:25 pm

Re: What COA would you be okay with for Chicago?

Postby adoseofwendy » Fri Mar 15, 2013 9:28 pm

Just got a half-tuition scholarship for U Chicago with guaranteed LRAP. How big of an impact will 75k debt make on my life? I was interested in going the PI route.

User avatar
ManOfTheMinute
Posts: 1562
Joined: Tue Apr 10, 2012 12:54 am

Re: What COA would you be okay with for Chicago?

Postby ManOfTheMinute » Fri Mar 15, 2013 9:31 pm

adoseofwendy wrote:Just got a half-tuition scholarship for U Chicago with guaranteed LRAP. How big of an impact will 75k debt make on my life? I was interested in going the PI route.


With LRAP? None, if you go the PI. If you go big law, you'll be able to pay it off in 3 years using 25% of after-tax earnings. So not that much.

User avatar
hung jury
Posts: 159
Joined: Tue Dec 27, 2011 1:52 am

Re: What COA would you be okay with for Chicago?

Postby hung jury » Fri Mar 15, 2013 9:32 pm

adoseofwendy wrote:Just got a half-tuition scholarship for U Chicago with guaranteed LRAP. How big of an impact will 75k debt make on my life? I was interested in going the PI route.


What is guaranteed LRAP? Chicago promised you a PI job for ten years?

adoseofwendy
Posts: 38
Joined: Sat Mar 24, 2012 1:25 pm

Re: What COA would you be okay with for Chicago?

Postby adoseofwendy » Fri Mar 15, 2013 9:41 pm

hung jury wrote:
adoseofwendy wrote:Just got a half-tuition scholarship for U Chicago with guaranteed LRAP. How big of an impact will 75k debt make on my life? I was interested in going the PI route.


What is guaranteed LRAP? Chicago promised you a PI job for ten years?


No, haha. If I choose a PI job after Chicago, I would be accepted to the loan repayment program.

So you're saying 75k is not a huge financial burden whether I go big law or do PI + the LRAP program?

Dr. Gaius Baltar
Posts: 44
Joined: Fri Feb 08, 2013 3:38 pm

Re: What COA would you be okay with for Chicago?

Postby Dr. Gaius Baltar » Fri Mar 15, 2013 9:44 pm

sinfiery wrote:Lol @ not caring about $30,000

:lol:

Okay, I could have phrased it differently. I just wanted to highlight the fact that I'd be mourning at the same level. But of course if a little elf were to appear and ask whether I prefer 15K debt or 45K debt I wouldn't be like "do whatever you want."

Ti Malice
Posts: 1955
Joined: Sat Mar 03, 2012 2:55 am

Re: What COA would you be okay with for Chicago?

Postby Ti Malice » Fri Mar 15, 2013 9:45 pm

superdingle2000 wrote:
eav1277 wrote:Idk how so many people can be comfortable with over 200K in debt. If it's HYS, I can understand but anywhere outside of that is a little crazy. Sure you have a great shot at big law but what happens if you get sick, fired, let go, or hate the job? Or if you are going the PI/LRAP route, you are going to have a huuuuge amount of debt. So you better hope you stay employed.

Also just curious, how hard is it to get credit/car loans/home loan with this kind of debt? Do they treat it differently than other debt if you can show it's getting covered by LRAP/will be gone in 10 years?

Not to discourage the OP at all. Just know what you are risking. I voted 150K. still a lot of money



What makes it understandable with HYS? Can't you also get sick, fired, or end up hating the job? And I think Biglaw chances are virtually the same, right?


To your last question: No.

Ti Malice
Posts: 1955
Joined: Sat Mar 03, 2012 2:55 am

Re: What COA would you be okay with for Chicago?

Postby Ti Malice » Fri Mar 15, 2013 9:47 pm

adoseofwendy wrote:Just got a half-tuition scholarship for U Chicago with guaranteed LRAP. How big of an impact will 75k debt make on my life? I was interested in going the PI route.


Your living expenses will be covered?

talesofyore
Posts: 294
Joined: Fri Sep 07, 2012 10:21 pm

Re: What COA would you be okay with for Chicago?

Postby talesofyore » Fri Mar 15, 2013 9:50 pm

Ti Malice wrote:
superdingle2000 wrote:

What makes it understandable with HYS? Can't you also get sick, fired, or end up hating the job? And I think Biglaw chances are virtually the same, right?


To your last question: No.



Can you speak more on that please?

adoseofwendy
Posts: 38
Joined: Sat Mar 24, 2012 1:25 pm

Re: What COA would you be okay with for Chicago?

Postby adoseofwendy » Fri Mar 15, 2013 10:02 pm

Ti Malice wrote:
adoseofwendy wrote:Just got a half-tuition scholarship for U Chicago with guaranteed LRAP. How big of an impact will 75k debt make on my life? I was interested in going the PI route.


Your living expenses will be covered?


No I'll have to take out loans to cover cost of living.




Return to “Choosing a Law School”

Who is online

Users browsing this forum: Baidu [Spider] and 5 guests