Are you attending a non-HYS T14 with a $75k or less scholly?

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Are you attending a non-HYS T14 with a $75k or less scholly?

Yes
97
64%
No
54
36%
 
Total votes: 151

20141023
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby 20141023 » Fri Apr 19, 2013 1:52 pm

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Last edited by 20141023 on Mon Feb 16, 2015 12:29 am, edited 1 time in total.

Betharl
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby Betharl » Fri Apr 19, 2013 1:55 pm

According to ABA data at t14s something like 30-60% of the class pays sticker depending on the school. Maybe that is/has changed recently though.

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JamesDean1955
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby JamesDean1955 » Fri Apr 19, 2013 1:59 pm

Another factor to take into consideration for biglaw bound people is that you should be able to contribute a decent amount of your summer associate (after 2L) pay towards paying down your loans, no?

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beepboopbeep
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby beepboopbeep » Fri Apr 19, 2013 2:02 pm

JamesDean1955 wrote:Another factor to take into consideration for biglaw bound people is that you should be able to contribute a decent amount of your summer associate (after 2L) pay towards paying down your loans, no?


While that's true, probably more people assume they are biglaw-bound than actually are. Better to stare down the whole amount than assume 20-30k will materialize.

20141023
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby 20141023 » Fri Apr 19, 2013 2:02 pm

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Last edited by 20141023 on Mon Feb 16, 2015 12:29 am, edited 1 time in total.

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Rahviveh
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby Rahviveh » Fri Apr 19, 2013 2:05 pm

beepboopbeep wrote:
JamesDean1955 wrote:Another factor to take into consideration for biglaw bound people is that you should be able to contribute a decent amount of your summer associate (after 2L) pay towards paying down your loans, no?


While that's true, probably more people assume they are biglaw-bound than actually are. Better to stare down the whole amount than assume 20-30k will materialize.


Fair, but at the same time most people are calculating their post-grad repayment plan assuming biglaw salary. And if you got biglaw you probably got a 2L SA so it's not unreasonable to include the salary from that.

Calculating your repayment plan assuming no biglaw is pointless unless you have 100-120k debt or less, because you'll have to go on IBR at that point anyways.

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Skye
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby Skye » Fri Apr 19, 2013 2:07 pm

I received a 50/50 deal. Leaving around $73K in debt, not counting COL. When I exit my debt will slightly exceed $100K, depending how much of my SA I use to pay down debt. Knowing me, probably not much. :D

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JamesDean1955
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby JamesDean1955 » Fri Apr 19, 2013 2:10 pm

ChampagnePapi wrote:
beepboopbeep wrote:
JamesDean1955 wrote:Another factor to take into consideration for biglaw bound people is that you should be able to contribute a decent amount of your summer associate (after 2L) pay towards paying down your loans, no?


While that's true, probably more people assume they are biglaw-bound than actually are. Better to stare down the whole amount than assume 20-30k will materialize.


Fair, but at the same time most people are calculating their post-grad repayment plan assuming biglaw salary. And if you got biglaw you probably got a 2L SA so it's not unreasonable to include the salary from that.

Calculating your repayment plan assuming no biglaw is pointless unless you have 100-120k debt or less, because you'll have to go on IBR at that point anyways.


Yeah I agree with the above. Plus, I work in the biglaw industry now, have many contacts and some experience here, and I know that biglaw is for me 100%.

Even if I magically changed my mind and decided I wanted PI/government, I would still do a 2L SA for the money. I realize this could put me at some disadvantage when applying for PI/government, as it could show I would prefer the private practice route, but I'm confident after speaking with recent CCNMVP grads in PI/government that as long as I tailored a significant amount of my law school experience towards PI/government, and did well, I would still have a strong shot.

ETA: Also, my long term goals assuming non-partner track obviously, would be biglaw --> PI/Government. I know a lot of former people from my biglaw firm working as AUSA's through connections.

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beepboopbeep
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby beepboopbeep » Fri Apr 19, 2013 2:16 pm

JamesDean1955 wrote:
ChampagnePapi wrote:
beepboopbeep wrote:
JamesDean1955 wrote:Another factor to take into consideration for biglaw bound people is that you should be able to contribute a decent amount of your summer associate (after 2L) pay towards paying down your loans, no?


While that's true, probably more people assume they are biglaw-bound than actually are. Better to stare down the whole amount than assume 20-30k will materialize.


Fair, but at the same time most people are calculating their post-grad repayment plan assuming biglaw salary. And if you got biglaw you probably got a 2L SA so it's not unreasonable to include the salary from that.

Calculating your repayment plan assuming no biglaw is pointless unless you have 100-120k debt or less, because you'll have to go on IBR at that point anyways.


Yeah I agree with the above. Plus, I work in the biglaw industry now, have many contacts and some experience here, and I know that biglaw is for me 100%.

Even if I magically changed my mind and decided I wanted PI/government, I would still do a 2L SA for the money. I realize this could put me at some disadvantage when applying for PI/government, as it could show I would prefer the private practice route, but I'm confident after speaking with recent CCNMVP grads in PI/government that as long as I tailored a significant amount of my law school experience towards PI/government, and did well, I would still have a strong shot.


All fair points, and agreed with all the above. I shouldn't generalize my situation - I'm leaning biglaw and will probably gun for it, but I don't want to mentally subtract 20k from my debt just to make myself feel better about the financial commitment of law school. I worry that people calculating 2L SA into debt are doing so more to mollify their fears than anything else.

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JamesDean1955
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby JamesDean1955 » Fri Apr 19, 2013 2:21 pm

^^ Good point. That's why I wanted to work in the industry first because I had no idea if I would like it. Then again I am sort of a masochist that sacrifices a good portion of my social life to work ridiculously long hours doing (sometimes) menial stuff :?

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Rahviveh
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby Rahviveh » Fri Apr 19, 2013 2:21 pm

JamesDean1955 wrote:
ETA: Also, my long term goals assuming non-partner track obviously, would be biglaw --> PI/Government. I know a lot of former people from my biglaw firm working as AUSA's through connections.


Im hoping for the same thing, but I heard AUSA's are insanely competitive and hard to get :(

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JamesDean1955
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby JamesDean1955 » Fri Apr 19, 2013 2:23 pm

ChampagnePapi wrote:
JamesDean1955 wrote:
ETA: Also, my long term goals assuming non-partner track obviously, would be biglaw --> PI/Government. I know a lot of former people from my biglaw firm working as AUSA's through connections.


Im hoping for the same thing, but I heard AUSA's are insanely competitive and hard to get :(


Yeah no doubt. A lot of times I think it comes down to luck and who you know. Unless you work in litigation and are an absolute rainmaker and have no interest in being a partner. My person observations, anyways. I'm no expert.

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IAFG
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby IAFG » Fri Apr 19, 2013 4:11 pm

kappycaft1 wrote:
JamesDean1955 wrote:Another factor to take into consideration for biglaw bound people is that you should be able to contribute a decent amount of your summer associate (after 2L) pay towards paying down your loans, no?

I would also be interested to learn about this from some of you current law students. I assumed about $5000 for 1L whatever, and about $25000 for 2L SA... but it seems like if I wanted to travel to a different city, I might not see much of my 2L SA by the end of the summer.

LOL @ $5k from 1L summer. And reeeeeally lol if you mean having that left over.

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sinfiery
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby sinfiery » Fri Apr 19, 2013 4:15 pm

Damn OP, why did you pick 75k? I was so close to feeling like an elitist

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beepboopbeep
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby beepboopbeep » Fri Apr 19, 2013 4:15 pm

IAFG wrote:
kappycaft1 wrote:
JamesDean1955 wrote:Another factor to take into consideration for biglaw bound people is that you should be able to contribute a decent amount of your summer associate (after 2L) pay towards paying down your loans, no?

I would also be interested to learn about this from some of you current law students. I assumed about $5000 for 1L whatever, and about $25000 for 2L SA... but it seems like if I wanted to travel to a different city, I might not see much of my 2L SA by the end of the summer.

LOL @ $5k from 1L summer. And reeeeeally lol if you mean having that left over.


He's going to Chicago - $5k 1L summer funding for PI, and COL is cheap in Hyde Park. I think I made it through summer on $1500 once in undergrad.

whereskyle
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby whereskyle » Fri Apr 19, 2013 4:20 pm

1 offer thus far: sticker at uva.

Plan: retake and reapply

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JamMasterJ
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby JamMasterJ » Fri Apr 19, 2013 4:31 pm

beepboopbeep wrote:
IAFG wrote:
kappycaft1 wrote:
JamesDean1955 wrote:Another factor to take into consideration for biglaw bound people is that you should be able to contribute a decent amount of your summer associate (after 2L) pay towards paying down your loans, no?

I would also be interested to learn about this from some of you current law students. I assumed about $5000 for 1L whatever, and about $25000 for 2L SA... but it seems like if I wanted to travel to a different city, I might not see much of my 2L SA by the end of the summer.

LOL @ $5k from 1L summer. And reeeeeally lol if you mean having that left over.


He's going to Chicago - $5k 1L summer funding for PI, and COL is cheap in Hyde Park. I think I made it through summer on $1500 once in undergrad.

plus if you hate yourself, you can pick up a job at a bar or w/e

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JamMasterJ
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby JamMasterJ » Fri Apr 19, 2013 4:32 pm

I'm technically in the yes group, but dat wife = no COL loans 2/3L

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IAFG
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby IAFG » Fri Apr 19, 2013 4:34 pm

beepboopbeep wrote:
He's going to Chicago - $5k 1L summer funding for PI, and COL is cheap in Hyde Park. I think I made it through summer on $1500 once in undergrad.

I forgot about school funding (though I forgot about it because most people I know didn't have eligible jobs).

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txdude45
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby txdude45 » Fri Apr 19, 2013 4:36 pm

Can 1Ls get SA gigs? What would they be paid?

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untar614
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby untar614 » Fri Apr 19, 2013 4:38 pm

txdude45 wrote:Can 1Ls get SA gigs? What would they be paid?

if ur a pro, 20-30k. But few do. Ima be hittin up dat dere patent bar in hopes it'll help me land that.

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JamesDean1955
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby JamesDean1955 » Fri Apr 19, 2013 5:00 pm

JamMasterJ wrote:I'm technically in the yes group, but dat wife = no COL loans 2/3L


Gotta get me one of those :lol:

ETA: I was planning on bartending or waiting tables nights during 1L summer, a $4k stipend at Penn for PI/government work (or even a $5k if you go to UChicago) isn't gonna do it for me. Plus, I'm used to 2 jobs or jobs with really long hours.

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letsjustsee
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby letsjustsee » Fri Apr 19, 2013 9:26 pm

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Last edited by letsjustsee on Sun Jun 02, 2013 2:03 pm, edited 1 time in total.

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Bronck
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby Bronck » Fri Apr 19, 2013 9:39 pm

txdude45 wrote:Can 1Ls get SA gigs? What would they be paid?


Yes. They pay market rate, so you'd be taking home around ~20-21k (and getting back a big chunk in tax returns).

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bearsfan23
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Re: Are you attending a non-HYS T14 with a $75k or less scholly?

Postby bearsfan23 » Fri Apr 19, 2013 9:52 pm

I'd encourage everyone who didn't take out Direct Loans before October 1, 2007 to really read up on PAYE and get a better understanding out it, because PAYE is your worst case scenario option (unless you have prior direct loans), and its actually pretty good for being a last resort plan. Not saying it would change your decision, but its something to think about and its not something that was there for current law students when they started




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