Chicago $20k worth it?

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pushallin98
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Chicago $20k worth it?

Postby pushallin98 » Wed Apr 24, 2013 9:29 pm

Long time lurker, got scholarship update from Chicago for $20k over 3 years. A little lower than what I was hoping, but applied early (172/3.53) so don't have much leverage. Total COA will still be around $200k.

Want to do big law and then possibly transition in-house down the road. Is the $200k debt gamble worth it? If I don't go, will probably work in the start-up space making peanuts but with no debt to worry about. I'm also 25 years old and don't have any undergrad debt. Thanks in advance for the help and advice.

balzie94
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Re: Chicago $20k worth it?

Postby balzie94 » Wed Apr 24, 2013 9:32 pm

Quite risky.

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IAFG
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Re: Chicago $20k worth it?

Postby IAFG » Wed Apr 24, 2013 9:33 pm

If you actually want to be a lawyer, congratulations. You've landed a great option. If you really want to work on start ups, do that.

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bizzybone1313
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Re: Chicago $20k worth it?

Postby bizzybone1313 » Wed Apr 24, 2013 9:34 pm

What are your other options?

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2014
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Re: Chicago $20k worth it?

Postby 2014 » Wed Apr 24, 2013 9:43 pm

I have classmates making bigger gambles than that with no regrets and if you run the cost benefit it is justified. However, your other options might be better, what are they?

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thelawyler
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Re: Chicago $20k worth it?

Postby thelawyler » Wed Apr 24, 2013 9:48 pm

yes

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pushallin98
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Re: Chicago $20k worth it?

Postby pushallin98 » Wed Apr 24, 2013 9:50 pm

Since I applied ED, I would have to reapply next cycle in order to compare scholarship packages from more schools. Some family things came up in the last few months which has made the financial situation a little stickier than what I was anticipating when I applied back in the fall.

Right now, leaning towards law but the $200k debt is just a little too much. Of course with big law, it becomes a little more palatable but with all the horror stories I've read on TLS, not sure if it's the rational choice. That $200k debt is manageable if I do median or better, if I do well at OCI, if I get an offer after 2L summer, if I don't get sacked within 4-5 years.

Do a lot of people at T6 with $200k debt actually get screwed? Doesn't seem like it...if you're smart, you'll work hard and make it work regardless. But it seems like there's still that element of luck. I don't know what the answer is.

I've been doing a lot of start-up work the last few years so other options would be working on more start-ups or potentially a entry-level gig with a VC firm.

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WokeUpInACar
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Re: Chicago $20k worth it?

Postby WokeUpInACar » Wed Apr 24, 2013 9:51 pm

IAFG wrote:If you actually want to be a lawyer, congratulations. You've landed a great option. If you really want to work on start ups, do that.

09042014
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Re: Chicago $20k worth it?

Postby 09042014 » Wed Apr 24, 2013 9:53 pm

I hear VC's are making it rain for every half retarded app idea. I'd try that for a few years.

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Tekrul
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Re: Chicago $20k worth it?

Postby Tekrul » Thu Apr 25, 2013 2:05 pm

but code.org

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untar614
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Re: Chicago $20k worth it?

Postby untar614 » Thu Apr 25, 2013 2:08 pm

Desert Fox wrote:I hear VC's are making it rain for every half retarded app idea. I'd try that for a few years.

Can someone make an app that helps me come up with ideas for new apps?

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jbagelboy
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Re: Chicago $20k worth it?

Postby jbagelboy » Thu Apr 25, 2013 4:27 pm

I would go to Chicago @ sticker. So less than sticker is obviously "worth it".

What you won't be able to do after going to law school is jump back into a "peanuts" field, or be adventurous. Do your adventurous stuff now before you start 1L if you need to get it out of your system.




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