BerkeleyBear wrote:I never said anyone would become unemployed for the rest of their career after year 3 of biglaw. Fiscally speaking, you'd likely need a biglaw job to pay off your debt as quickly as possible if you did pay sticker at NYU. And that would take over 3 years. It would be idiotic to assume otherwise. Most people who are intelligent want to do this as quickly as possible. For good reason. If someone wants to take 6+ years to pay off their debt then they are free to do so.
Justify your ED to NYU however you'd like my friend. I do hope you can ride that LRAP train of yours.
pastapplicant wrote:brah, as a 1L at NYU on a big scholarship i am telling you that you are only hearing what you want to hear. you are using internet anecdotal evidence from a handful of "lucky" associates who may even not be who they say they are. your best argument is "does everyone end up unemployed? not at all". you are right not everyone ends up screwed, but you are most wrong if you don't think a significant portion do end up screwed. no offense, but this mass anxiety is more justified in that you should be nervous paying $250K for anything and it is more close to the reality than you would like to believe. taking out sticker in hopes of relying on LRAP is a terrible idea. PI jobs are way tougher to land than Biglaw positions.
My point is mostly that if you're concerned whether you will have a job at all
after your 3 years in biglaw, then the obvious answer for everyone
is to not go to law school, and how much you're paying is actually irrelevant. No matter whether you come out with $250,000 in loans or $100,000 in loans because of your scholarship, if you're out of a job in 3 years and you get screwed (I assume that means unable to find a decent legal job after biglaw), then regardless of whether you paid too much for your degree, your degree was useless and a waste of time all the same.
I'm not trying to weigh into the discussion of whether NYU is worth sticker (and, FWIW, I was deferred ED so I'm not locked in and it's doubtful that I'll attend given that I have scholarships elsewhere), merely that I don't see how it's a valid argument over how much
to pay if what you're really saying is most people get screwed 3 years out of law school anyway. If you end up at that 3 year point and you've paid off most of your loans or you still have $150,000 left to pay off, either way you're out of a job and you've wasted time and money. Sure, maybe you're more relaxed without a high loan balance, but what was it all for anyway? That's what the discussion should be about.