Harvard Sticker v. Texas Full-Ride

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

Which should I choose?

Harvard Near-Sticker
170
54%
Texas Full Tuition and Fees
146
46%
 
Total votes: 316

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jkpolk
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Re: Harvard Sticker v. Texas Full-Ride

Postby jkpolk » Thu May 23, 2013 7:18 pm

jbagelboy wrote:
polkij333 wrote:Once you've made this decision you should never mention it again, especially if you go to UT


I can't tell from this ambiguity which way you are assuming OP should go, lol.


I don't think there is an obvious winner here. I'd lean towards UT in OP's position. My point was more geared at helping OP avoid looking like a bag of dicks.

utlaw2007
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Re: Harvard Sticker v. Texas Full-Ride

Postby utlaw2007 » Thu May 23, 2013 7:39 pm

I honestly don't know, but graduating with $270,000 of debt is freakishly scary... graduating with $370,000 is just unfathomable.


If your undergraduate debt wasn't nearly as high, I'd say Harvard all the way. You have Texas ties. You're good. It's Harvard after all. But as the above poster said, that kind of debt truly is unfathomable. Hell, a biglaw job wouldn't even suffice. You'd practically have to open up your own shop and hope you are one of the chosen ones who make a TON of money.

utlaw2007
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Re: Harvard Sticker v. Texas Full-Ride

Postby utlaw2007 » Thu May 23, 2013 7:44 pm

Doorkeeper wrote:
sinfiery wrote:
Doorkeeper wrote:Rush in the financial aid paperwork to see if you qualify for need based aid.

Also, remember that from H that a 1L and 2L summer biglaw job in TX is definitely possible. That might knock off $50k in debt.

$400k in debt is absolutely insane, but if you're already in +$100k in debt and don't get biglaw from UT, what happens then?

Austin is really cheap. He could get out with like 140k with no paying 1/2l summer jobs plus TX COL/taxes/ UG interest rates, not the worst situation

Even if he does get out with around $150k in debt (UG + living in Austin for 3 years), how does one go about paying that off if they miss biglaw in TX? What's the next option? Can he pay that down doing shitlaw?


I think he can, but he'd have to move to the burbs in whatever Texas city he lives in. That's really the only way his cost of living will be cheap enough. It's super cheap to live down here.

But he would have to move near one of the major cities because that is really the only way he could get a sh&*%t law job that paid enough money to pay off that debt.

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Dr. Dre
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Re: Harvard Sticker v. Texas Full-Ride

Postby Dr. Dre » Thu May 23, 2013 7:57 pm

I really like UT—excellent school in excellent state.

But HARVARD it is.

utlaw2007
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Re: Harvard Sticker v. Texas Full-Ride

Postby utlaw2007 » Thu May 23, 2013 8:12 pm

That being said, it is hard to take UT Law over Harvard. I'm not sure if I would do it even in your situation. Besides, you want to work in Texas. That's good because if you go to Harvard and incur that debt, you won't have much of a choice but to work in a place with an insanely low cost of living relative to income earned.

So I can see going to Harvard in your situation just as I can see going to UT in your situation. If you go to Harvard, you better not miss biglaw in Texas. But it should be pretty easy to get biglaw in Texas coming from Harvard..

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jbagelboy
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Re: Harvard Sticker v. Texas Full-Ride

Postby jbagelboy » Thu May 23, 2013 8:53 pm

Ti Malice wrote:Post this after you know how much aid you're getting from Harvard.

If you were somehow actually looking at sticker at H, I just can't see signing up for that kind of debt. H at sticker alone would leave you with ~$290K of debt at graduation. Your undergrad debt is "a little over $100K." So let's say $105K. That will grow to ~$120K during your time in law school. So that's roughly $410K at graduation. If you tried to handle that on a 10-year repayment schedule (assuming you weren't in LIPP), you would pay in the neighborhood of $4,700 per month for those ten years, or over $560K in total.


I agree the combined debt is ridiculous; just out of curiousity though, as the UG debt is most likely subsidized, wouldnt it theoretically avoid interest capitalization while OP is an FT law student?

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Clearly
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Re: Harvard Sticker v. Texas Full-Ride

Postby Clearly » Thu May 23, 2013 8:55 pm

This is a really tough call man. I have to say with the UG debt, I think I'm actually leaning away from H this time...Unless need based aid comes through.

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sinfiery
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Re: Harvard Sticker v. Texas Full-Ride

Postby sinfiery » Thu May 23, 2013 9:06 pm

UG debt that is subsidized, with a FAFSA around 0 caps out quickly with the left being unsubsidized so unless each school is different (very possible), I'm betting 85k+ is unsub.

dixiecupdrinking
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Re: Harvard Sticker v. Texas Full-Ride

Postby dixiecupdrinking » Thu May 23, 2013 9:44 pm

You need to get some money from Harvard. Seriously. If they said no, ask them again. How are you that far in debt for undergrad but wouldn't qualify for need-based aid (which HLS actually gives)?

senorhosh
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Re: Harvard Sticker v. Texas Full-Ride

Postby senorhosh » Thu May 23, 2013 10:02 pm

Harvard IMO

UT: at ~200k+ debt, you're screwed either way without biglaw. And it's common to strike out.
Harvard: at 350k+ debt, you're extra screwed without biglaw (at that point, what's the difference). But you probably won't have too much trouble getting it . After getting biglaw, it will be a bitch to pay back but better than the alternative. Overall I think it's a low chance at being screwed (though still possible). I'd say though it's an overall lower risk but lower reward.

PRgradBYU
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Re: Harvard Sticker v. Texas Full-Ride

Postby PRgradBYU » Thu May 23, 2013 10:11 pm

Going to Harvard would put you in a crazy amount of debt, but it's Harvard. You'll likely receive significant need-based aid if you go there, so that's what I would pick.

Myself
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.

Postby Myself » Thu May 23, 2013 10:26 pm

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Last edited by Myself on Wed Nov 20, 2013 12:55 am, edited 1 time in total.

bananapeanutbutter
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Re: Harvard Sticker v. Texas Full-Ride

Postby bananapeanutbutter » Thu May 23, 2013 11:29 pm

He's not getting shit law from Harvard.

OP, do you have no personality whatsoever? If you have decent social skills meaning that when you're at a party, normal mature adults don't walk away from you within 2-3 minutes, and you work your butt off, you're golden for big law.

He's going to the easiest market in the country with arguably the best school in the country for big law. It may only be a 100k difference from UT. At UT, you still need to stand out. At Harvard, you just have to not stand out.

To people saying he shouldn't go with the current debt load, the dude got into Harvard Law. He has the ability to make bank with >75% odds at a 140k+ starting salary. If his current salary is under 60k, it should not be a question.

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Clearly
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Re: Harvard Sticker v. Texas Full-Ride

Postby Clearly » Thu May 23, 2013 11:51 pm

bananapeanutbutter wrote:He's not getting shit law from Harvard.

OP, do you have no personality whatsoever? If you have decent social skills meaning that when you're at a party, normal mature adults don't walk away from you within 2-3 minutes, and you work your butt off, you're golden for big law.

He's going to the easiest market in the country with arguably the best school in the country for big law. It may only be a 100k difference from UT. At UT, you still need to stand out. At Harvard, you just have to not stand out.

To people saying he shouldn't go with the current debt load, the dude got into Harvard Law. He has the ability to make bank with >75% odds at a 140k+ starting salary. If his current salary is under 60k, it should not be a question.

Suppose he burns out...what's the monthly payment on 400k...

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Nelson
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Re: Harvard Sticker v. Texas Full-Ride

Postby Nelson » Thu May 23, 2013 11:57 pm

Do not take on more debt for law school.

Anyone recommending taking on more debt on top of six figures is completely out of their mind.
Last edited by Nelson on Fri May 24, 2013 12:01 am, edited 1 time in total.

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untar614
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Re: Harvard Sticker v. Texas Full-Ride

Postby untar614 » Thu May 23, 2013 11:59 pm

Clearlynotstefan wrote:
bananapeanutbutter wrote:He's not getting shit law from Harvard.

OP, do you have no personality whatsoever? If you have decent social skills meaning that when you're at a party, normal mature adults don't walk away from you within 2-3 minutes, and you work your butt off, you're golden for big law.

He's going to the easiest market in the country with arguably the best school in the country for big law. It may only be a 100k difference from UT. At UT, you still need to stand out. At Harvard, you just have to not stand out.

To people saying he shouldn't go with the current debt load, the dude got into Harvard Law. He has the ability to make bank with >75% odds at a 140k+ starting salary. If his current salary is under 60k, it should not be a question.

Suppose he burns out...what's the monthly payment on 400k...

if he makes 60k/yr, 358/month on PAYE. Just wait out and hope the tax bomb is defused within 20 years

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Clearly
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Re: Harvard Sticker v. Texas Full-Ride

Postby Clearly » Fri May 24, 2013 12:05 am

untar614 wrote:
Clearlynotstefan wrote:
bananapeanutbutter wrote:He's not getting shit law from Harvard.

OP, do you have no personality whatsoever? If you have decent social skills meaning that when you're at a party, normal mature adults don't walk away from you within 2-3 minutes, and you work your butt off, you're golden for big law.

He's going to the easiest market in the country with arguably the best school in the country for big law. It may only be a 100k difference from UT. At UT, you still need to stand out. At Harvard, you just have to not stand out.

To people saying he shouldn't go with the current debt load, the dude got into Harvard Law. He has the ability to make bank with >75% odds at a 140k+ starting salary. If his current salary is under 60k, it should not be a question.

Suppose he burns out...what's the monthly payment on 400k...

if he makes 60k/yr, 358/month on PAYE. Just wait out and hope the tax bomb is defused within 20 years

Do we know he doesn't have loans prior to 07? With 100k in debt it's very possible he's not currently eligible for paye.

Total Litigator
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Re: Harvard Sticker v. Texas Full-Ride

Postby Total Litigator » Fri May 24, 2013 12:21 am

OP, what's your current salary? Is deferring Harvard for 2 years and trying to pay off some of that $100K a possibility? I would also think that if you tell Harvard you need to defer for two years to pay down your undergrad loans, maybe they'll feel sorry for you and throw you some money...

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ajclark1992
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Re: Harvard Sticker v. Texas Full-Ride

Postby ajclark1992 » Fri May 24, 2013 12:29 am

Do you know what your total COA will be? At Harvard, probably 230k, but still up in the air. At UT, probably around 40k.

How sure are you that you only want Texas biglaw? Life's too short not to live it in Texas.

Wouldn't it theoretically avoid interest capitalization while OP is an FT law student? I don't think its theoretical. I'm pretty sure I can put off interest on the loans through my graduate studies for four additional years.

How are you that far in debt for undergrad but wouldn't qualify for need-based aid (which HLS actually gives)? Not sure that I don't have any need-based yet -- but Texas' letter of intent is due on the fifth, and Harvard says they'll respond with a financial offer by the fourth. I'm that far in debt because my parents, despite some means, elected to have me pay for my own schooling.

Do we know he doesn't have loans prior to 07? I don't.

OP, do you have no personality whatsoever? Haha, I'd like to think I have one. Smart, cute, funny...My mom tells me I'm great with people.

OP, what's your current salary? $13 / hr at an internship.

Is deferring Harvard for 2 years and trying to pay off some of that $100K a possibility? Don't believe I can defer from the waitlist. Not really in a stable enough of a job to attempt that, I don't think.

bruin91
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Re: Harvard Sticker v. Texas Full-Ride

Postby bruin91 » Fri May 24, 2013 12:30 am

Total Litigator wrote:OP, what's your current salary? Is deferring Harvard for 2 years and trying to pay off some of that $100K a possibility? I would also think that if you tell Harvard you need to defer for two years to pay down your undergrad loans, maybe they'll feel sorry for you and throw you some money...


Hmmm. +1

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Clearly
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Re: Harvard Sticker v. Texas Full-Ride

Postby Clearly » Fri May 24, 2013 12:31 am

ajclark1992 wrote:Do you know what your total COA will be? At Harvard, probably 230k, but still up in the air. At UT, probably around 40k.

How sure are you that you only want Texas biglaw? Life's too short not to live it in Texas.

Wouldn't it theoretically avoid interest capitalization while OP is an FT law student? I don't think its theoretical. I'm pretty sure I can put off interest on the loans through my graduate studies for four additional years.

How are you that far in debt for undergrad but wouldn't qualify for need-based aid (which HLS actually gives)? Not sure that I don't have any need-based yet -- but Texas' letter of intent is due on the fifth, and Harvard says they'll respond with a financial offer by the fourth. I'm that far in debt because my parents, despite some means, elected to have me pay for my own schooling.

Do we know he doesn't have loans prior to 07? I don't.

OP, do you have no personality whatsoever? Haha, I'd like to think I have one. Smart, cute, funny...My mom tells me I'm great with people.

OP, what's your current salary? $13 / hr at an internship.

Is deferring Harvard for 2 years and trying to pay off some of that $100K a possibility? Don't believe I can defer from the waitlist. Not really in a stable enough of a job to attempt that, I don't think.


Just to clarify, no loans before OCT 07 is more specific.

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twenty
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Re: Harvard Sticker v. Texas Full-Ride

Postby twenty » Fri May 24, 2013 12:35 am

Harvard, historically, does not defer acceptances from the waitlist.

That said, go for Harvard. The stars need to line up just so for you, and the best possibility of that happening is from H. While it certainly can happen from UT, (and you'd be far from crazy to take UT), I feel like you have a better shot from H.

Revolver066
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Re: Harvard Sticker v. Texas Full-Ride

Postby Revolver066 » Fri May 24, 2013 1:06 am

hjkl
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J-e-L-L-o
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Re: Harvard Sticker v. Texas Full-Ride

Postby J-e-L-L-o » Fri May 24, 2013 1:07 am

Are these your only options? Why not another T14 that can you back to Texas with $$$ since you got in to Harvard and full ride at UT.

I get it, it's the H bomb...but for 1/2 a mill in debt????? No freakin way. You will be slaving away just to make payments for your loans after you get that big law job. You will be better off just getting a job w/ your undergrad degree and paying down your UG loans.

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rickgrimes69
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Re: Harvard Sticker v. Texas Full-Ride

Postby rickgrimes69 » Fri May 24, 2013 1:17 am

Nelson wrote:Do not take on more debt for law school.

Anyone recommending taking on more debt on top of six figures is completely out of their mind.


This. Sorry OP, but you can't afford Harvard. Go to UT and gun like crazy for Biglaw, cause you're gonna need it to pay off your loans regardless. Dunno what you're gonna do if you strike out, since you're debt pwned before you even start. But $400k in debt is absolutely, unequivocally insane.




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