UVA worth it at this price?

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UVA at 90-99K cost of attendance?

Good idea
97
92%
Bad idea
8
8%
 
Total votes: 105

firstimer
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UVA worth it at this price?

Postby firstimer » Fri Apr 19, 2013 10:19 am

quick question: got a ~$75K scholarship to UVA. I have personal savings to cover cost of living, so I'm looking at ~90-99K of debt assuming 5% tuition increase. I have no ties to the south (from the MD/PA area) but could see myself working in Virginia, either in public interest or aiming for biglaw (for a couple of years at most). For what it's worth, I really like UVA's campus environment and everyone I've talked to seems to enjoy it there.

I'm giving up a pretty good salary to do this but I am interested in the law and want to make the long-term switch to a legal career... so is this a good deal?
How much more would you pay for NYU, Chicago, and Columbia?


EDIT:
I add the last question because one of the major reasons I'm giving up on the NYC schools is the larger ($50-$100k) cost of attendance, which would essentially force me into biglaw. I feel like UVA gives me a hope at public interest, especially if my cost of living comes under expectations. But maybe this is not realistic.

Also, I seen multiple mentions of people warning others not to go to UVA unless you have ties to a secondary southern market (I guess because you might get shut out of NYC and DC if you have median or below grades?) Any truth to this?
Last edited by firstimer on Fri Apr 19, 2013 10:38 am, edited 1 time in total.

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NoodleyOne
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Re: UVA worth it at this price?

Postby NoodleyOne » Fri Apr 19, 2013 10:28 am

That's not bad at all. You're not going to be stuck in Va if you don't want to be. As far as how much other schools are worth... it depends on career goals.

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BarbellDreams
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Re: UVA worth it at this price?

Postby BarbellDreams » Fri Apr 19, 2013 10:32 am

Dear God yes.

Real Madrid
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Re: UVA worth it at this price?

Postby Real Madrid » Fri Apr 19, 2013 10:41 am

Yeah, it's worth it. Considering COL I wouldn't pay any more for NYU. Not sure how much more I'd pay for UofC or CLS.

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Law Sauce
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Re: UVA worth it at this price?

Postby Law Sauce » Fri Apr 19, 2013 10:47 am

Duh.

Are you asking for advice with respect to the other options? Or confirmation? Topic question seems like a relatively simple question with a clear answer.

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Doorkeeper
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Re: UVA worth it at this price?

Postby Doorkeeper » Fri Apr 19, 2013 11:44 am

1) UVA at 90-100k is a great deal.
2) I would say CCN is worth an extra $50k or so if your target is NYC biglaw. UVA places really well into DC, so it's not a bad choice at all if you want NYC/DC.

firstimer
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Re: UVA worth it at this price?

Postby firstimer » Fri Apr 19, 2013 11:57 am

Law Sauce wrote:Duh.

Are you asking for advice with respect to the other options? Or confirmation? Topic question seems like a relatively simple question with a clear answer.


Thanks for the feedback. It does seem like an easy question and there are other options (notably, GULC at $50K less and NU/Duke at $20-$30K less) but I've narrowed it down to this school based on opportunities and fit. I guess I'm getting cold feet about spending $30k per year.

I had read a lot on this forum that UVA without ties to a secondary southern market would be a bad idea (I guess because if you strike out at NYC and DC, you have no other options?)

I have an ok job (longish hours and not particularly inspiring, but great salary and benefits) and live in a great city, but I firmly believe that a legal career is where I want to end up. Part of me is just wondering if this will be the biggest mistake of my life...

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ExBiglawAssociate
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Re: UVA worth it at this price?

Postby ExBiglawAssociate » Fri Apr 19, 2013 1:20 pm

Doorkeeper wrote:1) UVA at 90-100k is a great deal.
2) I would say CCN is worth an extra $50k or so if your target is NYC biglaw. UVA places really well into DC, so it's not a bad choice at all if you want NYC/DC.


I guess UVA places relatively well into DC, but no school places "really well" into DC compared to NYC.

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Law Sauce
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Re: UVA worth it at this price?

Postby Law Sauce » Fri Apr 19, 2013 4:48 pm

firstimer wrote:
Law Sauce wrote:Duh.

Are you asking for advice with respect to the other options? Or confirmation? Topic question seems like a relatively simple question with a clear answer.


Thanks for the feedback. It does seem like an easy question and there are other options (notably, GULC at $50K less and NU/Duke at $20-$30K less) but I've narrowed it down to this school based on opportunities and fit. I guess I'm getting cold feet about spending $30k per year.

I had read a lot on this forum that UVA without ties to a secondary southern market would be a bad idea (I guess because if you strike out at NYC and DC, you have no other options?)

I have an ok job (longish hours and not particularly inspiring, but great salary and benefits) and live in a great city, but I firmly believe that a legal career is where I want to end up. Part of me is just wondering if this will be the biggest mistake of my life...


Ok, I guess you really are asking for confirmation then, which should be all the confirmation you need because you have really already made the choice. So, congrats, you are certainly not making a bad decision

Also the thing about not having ties to secondary market in the South, that is not true. From UVA you have backup options where ever you do have ties and will have chances in NYC/DC/wherever else you are primarily trying to go.

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sinfiery
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Re: UVA worth it at this price?

Postby sinfiery » Fri Apr 19, 2013 4:51 pm

UVA is a national school, those fears are unfounded.

You may be making a financially ineffective decision depending on what job you are giving up though.

firstimer
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Re: UVA worth it at this price?

Postby firstimer » Fri Apr 19, 2013 5:31 pm

sinfiery wrote:You may be making a financially ineffective decision depending on what job you are giving up though.



Almost certainly. Instead of three years of earning and contributing to retirement (in one year I'll have enough savings to make a downpayment on a house), I'll be going into debt. My instinct says now is the time to make the switch, but my gut's been wrong before.

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JamMasterJ
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Re: UVA worth it at this price?

Postby JamMasterJ » Fri Apr 19, 2013 5:33 pm

good deal, go for it

californiabeauar
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Re: UVA worth it at this price?

Postby californiabeauar » Fri Apr 19, 2013 5:40 pm

.

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BruceWayne
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Re: UVA worth it at this price?

Postby BruceWayne » Fri Apr 19, 2013 5:57 pm

Although people need to chill with the "UVA is a national school" we're a good choice for the level of debt you quoted. In fact, even if you want NYC, I'd be hesitant to take "CCN" for 50K more because of the huge COL difference.

Still, be aware that landing below the median is extremely dangerous in regards to landing a job. But I think the risk is worth it at the price you quoted.

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Aberzombie1892
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Re: UVA worth it at this price?

Postby Aberzombie1892 » Fri Apr 19, 2013 6:09 pm

BruceWayne wrote:Although people need to chill with the "UVA is a national school" we're a good choice for the level of debt you quoted. In fact, even if you want NYC, I'd be hesitant to take "CCN" for 50K more because of the huge COL difference.

Still, be aware that landing below the median is extremely dangerous in regards to landing a job. But I think the risk is worth it at the price you quoted.


This. UVA is certainly worth ~$95,000 worth of debt.

But:

1. What are your other options?
2. Do you really think giving up a good job is worth it compared to the risk? If by good job you mean anywhere near $100k, you're certainly better off staying than spending your savings and going into debt.

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NoodleyOne
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Re: UVA worth it at this price?

Postby NoodleyOne » Fri Apr 19, 2013 6:48 pm

BruceWayne wrote:Although people need to chill with the "UVA is a national school" we're a good choice for the level of debt you quoted. In fact, even if you want NYC, I'd be hesitant to take "CCN" for 50K more because of the huge COL difference.

Still, be aware that landing below the median is extremely dangerous in regards to landing a job. But I think the risk is worth it at the price you quoted.

You got the Bruce Wayne seal of approval. That is all you need to know.

firstimer
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Re: UVA worth it at this price?

Postby firstimer » Fri Apr 19, 2013 8:03 pm

Aberzombie1892 wrote:But:

1. What are your other options?
2. Do you really think giving up a good job is worth it compared to the risk? If by good job you mean anywhere near $100k, you're certainly better off staying than spending your savings and going into debt.


I read your post and got the chills, cause I make a little over that $100k level right now. I work in an accounting / finance role roughly 60 hours a week (no weekends). My boss is nice, the work is ok, but in the end I'm really just helping rich people push money around. I live in NYC so the salary doesn't go as far, but I'm in my mid-20s and in a great financial position. Needless to say, I feel very grateful for what I have.

So financially, it wouldn't make much sense at all. Biglaw reminds me of BigFinance, and I have enough friends in the field to know that I don't want to be in a BigLaw position for longer than a couple of years.

Points in favor of law school though: I like school (sounds corny but it's true) and appreciate learning now that I've been out of school a couple of years. I've long had a strong interest in the law and a legal career. I definitely could see myself in a public interest career, and I'm pretty good at saving money, so I'm hoping to graduate with $70k of debt if all goes well ($90k is my conservative estimate).

I wasn't going to pay sticker anywhere, and I feel like the debt load at UVA is low enough that I could conceivably find another job in accounting if things don't go well, and pay off the loans within 5 years or so (I'd also need to tap into other personal savings that I don't plan to use for school). While this would be less than ideal, I'm sort of relying on my bachelors degree as a safety net (it's a strong undergrad business school).

This could be completely naive of me though, so let me know if I'm way off base.

rad lulz
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Re: UVA worth it at this price?

Postby rad lulz » Fri Apr 19, 2013 8:05 pm

Sounds good to me braj

WahooLaw24
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Re: UVA worth it at this price?

Postby WahooLaw24 » Fri Apr 19, 2013 8:29 pm

firstimer wrote:
Aberzombie1892 wrote:But:

1. What are your other options?
2. Do you really think giving up a good job is worth it compared to the risk? If by good job you mean anywhere near $100k, you're certainly better off staying than spending your savings and going into debt.


I read your post and got the chills, cause I make a little over that $100k level right now. I work in an accounting / finance role roughly 60 hours a week (no weekends). My boss is nice, the work is ok, but in the end I'm really just helping rich people push money around. I live in NYC so the salary doesn't go as far, but I'm in my mid-20s and in a great financial position. Needless to say, I feel very grateful for what I have.

So financially, it wouldn't make much sense at all. Biglaw reminds me of BigFinance, and I have enough friends in the field to know that I don't want to be in a BigLaw position for longer than a couple of years.

Points in favor of law school though: I like school (sounds corny but it's true) and appreciate learning now that I've been out of school a couple of years. I've long had a strong interest in the law and a legal career. I definitely could see myself in a public interest career, and I'm pretty good at saving money, so I'm hoping to graduate with $70k of debt if all goes well ($90k is my conservative estimate).

I wasn't going to pay sticker anywhere, and I feel like the debt load at UVA is low enough that I could conceivably find another job in accounting if things don't go well, and pay off the loans within 5 years or so (I'd also need to tap into other personal savings that I don't plan to use for school). While this would be less than ideal, I'm sort of relying on my bachelors degree as a safety net (it's a strong undergrad business school).

This could be completely naive of me though, so let me know if I'm way off base.


I voted yes in the poll and yes is almost certainly TCR. But your salary would give me great pause considering the huge opportunity cost.

rad lulz
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Re: UVA worth it at this price?

Postby rad lulz » Fri Apr 19, 2013 8:37 pm

Yeah I'd probably stay at my job.

Law is largely helping people push money around.

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jbagelboy
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Re: UVA worth it at this price?

Postby jbagelboy » Fri Apr 19, 2013 11:42 pm

rad lulz wrote:Yeah I'd probably stay at my job.

Law is largely helping people push money around.


+1. I would consider staying at my job and putting off LS if they would double my salary, which would put me in the 120K range. i asked for 100 and they said they would boost me $10K at the end of the year. I scoffed and soon ill give my notice. Going to law school!

If OPs job has a low salary ceiling tho then its worth getting into law. If you bill well or go inhouse you can make a lot more than the 100K OP makes as an accountant atm

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Crowing
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Re: UVA worth it at this price?

Postby Crowing » Sat Apr 20, 2013 12:00 pm

NoodleyOne wrote:
BruceWayne wrote:Although people need to chill with the "UVA is a national school" we're a good choice for the level of debt you quoted. In fact, even if you want NYC, I'd be hesitant to take "CCN" for 50K more because of the huge COL difference.

Still, be aware that landing below the median is extremely dangerous in regards to landing a job. But I think the risk is worth it at the price you quoted.

You got the Bruce Wayne seal of approval. That is all you need to know.


BW approves of 0L attending UVA?

Dude OP if I were you I'd feel like I just got a full-ride to Yale right about now, as far as exultations go.

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UVAIce
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Re: UVA worth it at this price?

Postby UVAIce » Sat Apr 20, 2013 12:25 pm

I'm going to Minnesota from UVA, definitely not a "Southern" market, and have been told by a number of non-UVA alum in Minnesota that UVA has a great reputation in the state. There are also UVA alum in places you would not expect. I think a lot of the placement in the South is partially self-selection. There are just a lot of students from the South here. Also, if you look at UVA's employment stats we send more students to different states than any other law school. However, you still need the "grades" to get a job, but that isn't any different at UVA's peers. Also, it's going to be tough to get a job in any secondary market without ties regardless of what law school you go to. Being in the bottom quarter of your class at any law school is not a fun place to be.

I will also say that the cost of living in Charlottesville is LOW. As in I would argue that most of the estimated cost of living numbers for UVA are overly conservative.

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UVAIce
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Re: UVA worth it at this price?

Postby UVAIce » Sat Apr 20, 2013 12:35 pm

rad lulz wrote:Yeah I'd probably stay at my job.

Law is largely helping people push money around.


Sales: it's nothing but selling people shit they don't need.

Bankers: Pushing other people's money off a cliff and into their speed boat.

Marketing: Making people want to buy shit they don't need.

Doctors: Helping old people keep suffering into their eighties.

A majority of the jobs in the world are not earth shatteringly cool.

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Aberzombie1892
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Re: UVA worth it at this price?

Postby Aberzombie1892 » Sat Apr 20, 2013 5:24 pm

Given your current salary (and hours and marketability), it would be pretty silly to give that up for a risky degree.




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