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

muskies970
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Re: Harvard Sticker v. Texas Full-Ride

Postby muskies970 » Fri May 24, 2013 3:16 pm

Monochromatic Oeuvre wrote:Tell me if I've got anything wrong:

1. UT, at best, is a coin flip for Biglaw.
2. We have established that if OP goes to Harvard, he certainly pays back $350k in 8-10 years, and then has another 20+ to be a Harvard alum and the privileges that carries.
3. If he goes to Texas, he has a 50% chance of being able to pay back $150k in 3-5 years, after which he will still not be a Harvard alum and won't have the privileges that carries over the next 25+.
4. If he goes to Texas, he also has a 50% chance of missing Biglaw, having no way to pay back $150k, and it will take him much, much longer than 8-10 years to pay it back.
5. Were OP to roll this decision over to next year, he would have a better chance of getting the full-ride at UT than a Harvard acceptance.

The only reason to pass up Harvard is to see what a year of WE and T14 applications can get you. There's no reason to go to UT now, that full ride will probably be waiting for you next year.


People don't like this sort of reasoning on here.

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Monochromatic Oeuvre
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Re: Harvard Sticker v. Texas Full-Ride

Postby Monochromatic Oeuvre » Fri May 24, 2013 3:24 pm

Wait just a minute OP--how in the heck did you not mention you had $60k at Chicago? That's a pretty big thing to leave out.

Unless you really have something against UChi, they should absolutely be in the picture here.

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jkpolk
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Re: Harvard Sticker v. Texas Full-Ride

Postby jkpolk » Fri May 24, 2013 3:27 pm

Monochromatic Oeuvre wrote:Wait just a minute OP--how in the heck did you not mention you had $60k at Chicago? That's a pretty big thing to leave out.

Unless you really have something against UChi, they should absolutely be in the picture here.


lolno


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ajclark1992
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Re: Harvard Sticker v. Texas Full-Ride

Postby ajclark1992 » Fri May 24, 2013 3:45 pm

Monochromatic Oeuvre wrote:Wait just a minute OP--how in the heck did you not mention you had $60k at Chicago? That's a pretty big thing to leave out.

Unless you really have something against UChi, they should absolutely be in the picture here.


I deposited at Texas and withdrew from the other schools I had been accepted to with the seemingly full understading that I was going to Texas.

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Br3v
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Re: Harvard Sticker v. Texas Full-Ride

Postby Br3v » Fri May 24, 2013 3:56 pm

ajclark1992 wrote:
Monochromatic Oeuvre wrote:Wait just a minute OP--how in the heck did you not mention you had $60k at Chicago? That's a pretty big thing to leave out.

Unless you really have something against UChi, they should absolutely be in the picture here.


I deposited at Texas and withdrew from the other schools I had been accepted to with the seemingly full understading that I was going to Texas.


George Strait is boss btw.

utlaw2007
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Re: Harvard Sticker v. Texas Full-Ride

Postby utlaw2007 » Fri May 24, 2013 4:03 pm

If this was around the time I went to UT, I'd say pick UT in a heartbeat. Biglaw was much easier for us to get. But now? It is a gamble. It was already a gamble back when I went. We just had better odds. The above posters that have explained that the debt is real are exactly right. You're really young now, so you have no idea. But as you get older, you'll understand that there is a lot more to your life's desires than biglaw and prestige. That debt will be hard to manage even from Harvard. Debt can make it awfully hard to attract potential significant others. That said, it's Harvard. Going to UT, that's also a gamble. Our school is just too freaking big. There are just not enough biglaw jobs to go around. I never wanted biglaw. And my total debt is around 150k. But I also have my own law firm and I can make a sh&^%$ load of money off of one case. But that is not the norm.

If you did go to Harvard, I do believe that extra debt you incur could be manageable. But you would have to work biglaw in Texas. But I don't see any reason why you wouldn't be able to do that fairly easy coming from Harvard. Our low cost of living and no state income tax will help you manage that debt.

But you are young. There's a chance that once you get to law school, you decide you don't want any part of biglaw. But going to Harvard does force you to take biglaw. And going to Harvard forces you to take biglaw in a place with a low cost of living.

If you went to UT, you would kind of be in the same boat. You could miss out on biglaw and still pay down your debt, but it would be difficult.

The more I think about it and considering that you want to be in Texas, I think Harvard might actually be the best option for you between the two. You need biglaw no matter what law school you attend. And you got into arguably the most prestigious one. And Texas is not a competitive market. It's not like you would have stiff competition coming from Harvard into the Texas market. And as crazy as that debt is, you could maybe manage it on a biglaw salary in Texas. But it would have to be Texas. And it would have to be Houston or Dallas. I can't speak for Dallas, but Houston's cost of living is lower than Austin's.
Last edited by utlaw2007 on Fri May 24, 2013 4:32 pm, edited 4 times in total.

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sinfiery
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Re: Harvard Sticker v. Texas Full-Ride

Postby sinfiery » Fri May 24, 2013 4:07 pm

Monochromatic Oeuvre wrote:Tell me if I've got anything wrong:

1. UT, at best, is a coin flip for Biglaw.
2. We have established that if OP goes to Harvard, he certainly pays back $350k in 8-10 years, and then has another 20+ to be a Harvard alum and the privileges that carries.
3. If he goes to Texas, he has a 50% chance of being able to pay back $150k in 3-5 years, after which he will still not be a Harvard alum and won't have the privileges that carries over the next 25+.
4. If he goes to Texas, he also has a 50% chance of missing Biglaw, having no way to pay back $150k, and it will take him much, much longer than 8-10 years to pay it back.
5. Were OP to roll this decision over to next year, he would have a better chance of getting the full-ride at UT than a Harvard acceptance.

The only reason to pass up Harvard is to see what a year of WE and T14 applications can get you. There's no reason to go to UT now, that full ride will probably be waiting for you next year.


Regarding point 2:
OP does not certainly pay back $350k in 8-10 years. Statistically speaking, he can rely on a biglaw salary for roughly 5 years. At that point, after aggressive loan repayment and Texas COL for 5 years, he will likely still be 130k-150k in debt.
Once you latteral out, your standard of living will likely decrease (Although it's in Texas, he was far from living a lifestyle that could support a family with a biglaw salary) and so will your loan repayment amount each year decrease. This is also the period where there is absolutely no data on and is the unknown we all fear as 0Ls.
Harvard or not, if everything goes right, OP, after 5 years of a relatively frugal life domianted by his being overworked with 150k in debt left to show for it, will have to, at about a coin flips chance, have to face something we know nothing about. That is terrifying.



Also, a full ride with a 3.81 won't be likely. Though a huge schoalrship could definitely be gained from a mid/lower T13.
Last edited by sinfiery on Fri May 24, 2013 4:08 pm, edited 1 time in total.

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jbagelboy
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Re: Harvard Sticker v. Texas Full-Ride

Postby jbagelboy » Fri May 24, 2013 4:07 pm

ajclark1992 wrote:
Monochromatic Oeuvre wrote:Wait just a minute OP--how in the heck did you not mention you had $60k at Chicago? That's a pretty big thing to leave out.

Unless you really have something against UChi, they should absolutely be in the picture here.


I deposited at Texas and withdrew from the other schools I had been accepted to with the seemingly full understading that I was going to Texas.


for your purposes full ride at texas beats out 60K at chicago any day. good call.

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jbagelboy
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Re: Harvard Sticker v. Texas Full-Ride

Postby jbagelboy » Fri May 24, 2013 4:08 pm

sinfiery wrote:
Monochromatic Oeuvre wrote:Tell me if I've got anything wrong:

1. UT, at best, is a coin flip for Biglaw.
2. We have established that if OP goes to Harvard, he certainly pays back $350k in 8-10 years, and then has another 20+ to be a Harvard alum and the privileges that carries.
3. If he goes to Texas, he has a 50% chance of being able to pay back $150k in 3-5 years, after which he will still not be a Harvard alum and won't have the privileges that carries over the next 25+.
4. If he goes to Texas, he also has a 50% chance of missing Biglaw, having no way to pay back $150k, and it will take him much, much longer than 8-10 years to pay it back.
5. Were OP to roll this decision over to next year, he would have a better chance of getting the full-ride at UT than a Harvard acceptance.

The only reason to pass up Harvard is to see what a year of WE and T14 applications can get you. There's no reason to go to UT now, that full ride will probably be waiting for you next year.


Regarding point 2:
OP does not certainly pay back $350k in 8-10 years. Statistically speaking, he can rely on a biglaw salary for roughly 5 years. At that point, after aggressive loan repayment and Texas COL for 5 years, he will likely still be 130k-150k in debt.
Once you latteral out, your standard of living will likely decrease (Although it's in Texas, he was far from living a lifestyle that could support a family with a biglaw salary) and so will your loan repayment amount each year decrease. This is also the period where there is absolutely no data on and is the unknown we all fear as 0Ls.
Harvard or not, if everything goes right, OP, after 5 years of a relatively frugal life domianted by his being overworked with 150k in debt left to show for it, will have to, at about a coin flips chance, have to face something we know nothing about. That is terrifying.


OP can only go to harvard if his parents help or Harvard gives him roughly $30K/year in need based aid. that's about it.

formerbiglawpartner
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Re: Harvard Sticker v. Texas Full-Ride

Postby formerbiglawpartner » Fri May 24, 2013 4:22 pm

To OP: No-Brainer. Go to UT. Do well. All the big Texas firms will be eating out of your hand. Moreover, every one and their dog is opening a Houston office these days. I'm astounded by the ignorance on this forum regarding regarding student debt the size of a mortgage.

Good luck and congratulations.

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ajclark1992
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Re: Harvard Sticker v. Texas Full-Ride

Postby ajclark1992 » Fri May 24, 2013 4:29 pm

jbagelboy wrote:
sinfiery wrote:
Monochromatic Oeuvre wrote:Tell me if I've got anything wrong:

1. UT, at best, is a coin flip for Biglaw.
2. We have established that if OP goes to Harvard, he certainly pays back $350k in 8-10 years, and then has another 20+ to be a Harvard alum and the privileges that carries.
3. If he goes to Texas, he has a 50% chance of being able to pay back $150k in 3-5 years, after which he will still not be a Harvard alum and won't have the privileges that carries over the next 25+.
4. If he goes to Texas, he also has a 50% chance of missing Biglaw, having no way to pay back $150k, and it will take him much, much longer than 8-10 years to pay it back.
5. Were OP to roll this decision over to next year, he would have a better chance of getting the full-ride at UT than a Harvard acceptance.

The only reason to pass up Harvard is to see what a year of WE and T14 applications can get you. There's no reason to go to UT now, that full ride will probably be waiting for you next year.


Regarding point 2:
OP does not certainly pay back $350k in 8-10 years. Statistically speaking, he can rely on a biglaw salary for roughly 5 years. At that point, after aggressive loan repayment and Texas COL for 5 years, he will likely still be 130k-150k in debt.
Once you latteral out, your standard of living will likely decrease (Although it's in Texas, he was far from living a lifestyle that could support a family with a biglaw salary) and so will your loan repayment amount each year decrease. This is also the period where there is absolutely no data on and is the unknown we all fear as 0Ls.
Harvard or not, if everything goes right, OP, after 5 years of a relatively frugal life domianted by his being overworked with 150k in debt left to show for it, will have to, at about a coin flips chance, have to face something we know nothing about. That is terrifying.


OP can only go to harvard if his parents help or Harvard gives him roughly $30K/year in need based aid. that's about it.


If (My UG debt) + (Harvard debt after scholarship offer) = (Normal Harvard debt after Sticker), it'd probably be a good bet. However, it appears that Harvard uses potential parent contribution fairly strictly when deciding on aid.

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ajclark1992
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Re: Harvard Sticker v. Texas Full-Ride

Postby ajclark1992 » Fri May 24, 2013 4:42 pm

Br3v wrote:
ajclark1992 wrote:
Monochromatic Oeuvre wrote:Wait just a minute OP--how in the heck did you not mention you had $60k at Chicago? That's a pretty big thing to leave out.

Unless you really have something against UChi, they should absolutely be in the picture here.


I deposited at Texas and withdrew from the other schools I had been accepted to with the seemingly full understading that I was going to Texas.


George Strait is boss btw.


Can't wait for June 1st. San Antone.

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Monochromatic Oeuvre
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Re: Harvard Sticker v. Texas Full-Ride

Postby Monochromatic Oeuvre » Fri May 24, 2013 4:43 pm

sinfiery wrote: Though a huge schoalrship could definitely be gained from a mid/lower T13.


This is a very important point here.

The more I think about it, the more I think OP's best play is to work for a year and just roll his apps over to September 1. Obviously, this means he can make some money to chop at that $100k. But also, OP, keep in mind that 60k-90k is typical at CCN for your numbers. It is not unheard of to get an MVP full ride. DNCG hands out full rides to your numbers somewhat regularly. Your chances improve for all of that with an extra year of WE. I think you would still have a good shot at Harvard, but to a certain point it can be a little random. I stand by the notion that the UT full ride will be there waiting for you, and I stand by the notion that even at such high levels of debt, a Harvard acceptance > Everything that isn't a Yale acceptance, Hamilton or Ruby, and I also stand by the notion that you are not guaranteed even Texas Biglaw coming from UT, and you might strike out, and you will be absolutely screwed if you do, and that makes UT a huge risk.

Forgive what may seem like arrogance in my suggestion that $$ at CCN or $$$ at MVP (what your numbers usually pull) is a better option than a full ride at UT. This is predicated on my idea that a) you're 20 and seem to be making a very important decision heavily weighted by the state you want to practice in, which is also the state you're from. Based on your debt level, I'm going to presume you did not go to school in Texas, which at least would mean you've lived out of the state (good for perspective). But still, I tend to distrust young people when they say they're "sure" about a life decision. I think most don't anticipate unintended consequences or missed opportunities caused by their actions, or don't know enough about how the world works. I'm 20 and the idea of being absolutely sure what I want to do (and where I want to practice) before I have ever registered for a law school class seems daunting to me. I've lived in one state my whole life, where I went to undergrad and where it appears I am also going to law school. I'm sure this has limited my perspective when I think about where I want to practice. You don't want to be kicking yourself at thirty because you went full-throttle on something that seemed so sure at the time but later looks silly.

BUT...

If you are absolutely, positively sure that you want to practice in Texas AND you are absolutely, positively sure you can beat out at least half your classmates AND you are absolutely, positively sure you want to go to law school this year, go to Texas. Your case is not and open-and-shut one; you could justify any decision you end up making.

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ajclark1992
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Re: Harvard Sticker v. Texas Full-Ride

Postby ajclark1992 » Fri May 24, 2013 4:58 pm

Monochromatic Oeuvre wrote:
sinfiery wrote: Though a huge schoalrship could definitely be gained from a mid/lower T13.


This is a very important point here.

The more I think about it, the more I think OP's best play is to work for a year and just roll his apps over to September 1. Obviously, this means he can make some money to chop at that $100k. But also, OP, keep in mind that 60k-90k is typical at CCN for your numbers. It is not unheard of to get an MVP full ride. DNCG hands out full rides to your numbers somewhat regularly. Your chances improve for all of that with an extra year of WE. I think you would still have a good shot at Harvard, but to a certain point it can be a little random. I stand by the notion that the UT full ride will be there waiting for you, and I stand by the notion that even at such high levels of debt, a Harvard acceptance > Everything that isn't a Yale acceptance, Hamilton or Ruby, and I also stand by the notion that you are not guaranteed even Texas Biglaw coming from UT, and you might strike out, and you will be absolutely screwed if you do, and that makes UT a huge risk.

Forgive what may seem like arrogance in my suggestion that $$ at CCN or $$$ at MVP (what your numbers usually pull) is a better option than a full ride at UT. This is predicated on my idea that a) you're 20 and seem to be making a very important decision heavily weighted by the state you want to practice in, which is also the state you're from. Based on your debt level, I'm going to presume you did not go to school in Texas, which at least would mean you've lived out of the state (good for perspective). But still, I tend to distrust young people when they say they're "sure" about a life decision. I think most don't anticipate unintended consequences or missed opportunities caused by their actions, or don't know enough about how the world works. I'm 20 and the idea of being absolutely sure what I want to do (and where I want to practice) before I have ever registered for a law school class seems daunting to me. I've lived in one state my whole life, where I went to undergrad and where it appears I am also going to law school. I'm sure this has limited my perspective when I think about where I want to practice. You don't want to be kicking yourself at thirty because you went full-throttle on something that seemed so sure at the time but later looks silly.

BUT...

If you are absolutely, positively sure that you want to practice in Texas AND you are absolutely, positively sure you can beat out at least half your classmates AND you are absolutely, positively sure you want to go to law school this year, go to Texas. Your case is not and open-and-shut one; you could justify any decision you end up making.


I lived in the Rust Belt for a good 12 years. I've lived in DC. I couldn't imagine living in NYC or California. But I am positive that I love the diverse, robust cities in Texas, the lack of an income tax, the food, the music, and the weather in Texas. The biggest worry I have in waiting is that I feel like I have two pretty good options in front of me -- and I'm not quite sure I want to wait a year for schools I couldn't muster enough passion to even apply for last fall (although my respect for those making the suggestion right now is making me rethink this). I applied to CCNMVP this year, but my GPA has dipped slightly, and I don't see myself wanting one of the offers over the two options I've got. There's no way I'd be absolutley sure about beating over half my classmates at Texas -- if I could be totally sure of that, I probably wouldn't be on this forum.

As my grandpa would say, "I ain't sure of nothin"

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Br3v
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Re: Harvard Sticker v. Texas Full-Ride

Postby Br3v » Fri May 24, 2013 5:08 pm

Read original post, disregard.
Last edited by Br3v on Fri May 24, 2013 5:09 pm, edited 1 time in total.

NanaP
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Re: Harvard Sticker v. Texas Full-Ride

Postby NanaP » Fri May 24, 2013 5:09 pm

You people are crazy!...You would take on 290K in debt, plus 100K from Undergrad??....You're insane to take on that much debt, if he didn't have the undergrad debt, and wanted to work elsewhere, I'd say H. I think the OP made the right decision. Go to Texas, don't put yourself in that kind of a hole.

BigZuck
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Re: Harvard Sticker v. Texas Full-Ride

Postby BigZuck » Fri May 24, 2013 5:19 pm

Monochromatic Oeuvre wrote:
sinfiery wrote: Though a huge schoalrship could definitely be gained from a mid/lower T13.


This is a very important point here.

The more I think about it, the more I think OP's best play is to work for a year and just roll his apps over to September 1. Obviously, this means he can make some money to chop at that $100k. But also, OP, keep in mind that 60k-90k is typical at CCN for your numbers. It is not unheard of to get an MVP full ride. DNCG hands out full rides to your numbers somewhat regularly. Your chances improve for all of that with an extra year of WE. I think you would still have a good shot at Harvard, but to a certain point it can be a little random. I stand by the notion that the UT full ride will be there waiting for you, and I stand by the notion that even at such high levels of debt, a Harvard acceptance > Everything that isn't a Yale acceptance, Hamilton or Ruby, and I also stand by the notion that you are not guaranteed even Texas Biglaw coming from UT, and you might strike out, and you will be absolutely screwed if you do, and that makes UT a huge risk.

Forgive what may seem like arrogance in my suggestion that $$ at CCN or $$$ at MVP (what your numbers usually pull) is a better option than a full ride at UT. This is predicated on my idea that a) you're 20 and seem to be making a very important decision heavily weighted by the state you want to practice in, which is also the state you're from. Based on your debt level, I'm going to presume you did not go to school in Texas, which at least would mean you've lived out of the state (good for perspective). But still, I tend to distrust young people when they say they're "sure" about a life decision. I think most don't anticipate unintended consequences or missed opportunities caused by their actions, or don't know enough about how the world works. I'm 20 and the idea of being absolutely sure what I want to do (and where I want to practice) before I have ever registered for a law school class seems daunting to me. I've lived in one state my whole life, where I went to undergrad and where it appears I am also going to law school. I'm sure this has limited my perspective when I think about where I want to practice. You don't want to be kicking yourself at thirty because you went full-throttle on something that seemed so sure at the time but later looks silly.

BUT...

If you are absolutely, positively sure that you want to practice in Texas AND you are absolutely, positively sure you can beat out at least half your classmates AND you are absolutely, positively sure you want to go to law school this year, go to Texas. Your case is not and open-and-shut one; you could justify any decision you end up making.


Trying to convince a Texan that Texas is not the be all, end all of places is a fool's errand my friend :)

OP, I think both your options are defensible and while I think some objectively better ones are attainable, if you can't see yourself at one of those places I don't think you can be faulted for choosing from your current offers.

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Monochromatic Oeuvre
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Re: Harvard Sticker v. Texas Full-Ride

Postby Monochromatic Oeuvre » Fri May 24, 2013 5:36 pm

Then I guess I would look at your choice as such: The GPA/LSAT correlation with 1L grades is about .5, which would imply, with your numbers, that your chance of finishing above median is around 75%.

Option 1:
75% chance of Texas Biglaw from UT. Debt paid in four years, after which you're free to leave Biglaw. Decent shot at six figures or close for as long as you want it. Life mediocre during Biglaw, then pretty good later.
25% of missing Biglaw. Life somewhat screwed. Your job probably pays $55-75k pretax, which means with minimum payments around $2k/month, you are pretty poor in Dallas or Houston. It takes you at least 10 years to pay it off, your credit score probably suffers irreparably. Your odds of ever making six figures become much tougher, due in no small part to the fact that you don't have a T14 degree (unfortunately, it does make a sizeable difference). Life terrible for quite a while, then so-so later.

Option 2:
100% chance of Texas Biglaw from Harvard. Debt paid in probably 10 years, but you have to stay in Biglaw for as long as they'll let you--burnout is not an option. After Biglaw, six figures and first dibs on everything forever. Life sucky during Biglaw, then awesome later.

Option 3:
You go work for a year and chip away at that undergrad debt. You roll it over. The Texas full ride, in all likelihood, stays on the table, and the Harvard acceptance probably does too (though that's less likely than the former). You blanket the T14 come September 1, write the Whys for MVP to avoid YP, and cross your fingers for six figures there (possible). You hope for a full-ride at DNCG (I like your odds. As mentioned, the Mordecai is close to ideal).

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rickgrimes69
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Re: Harvard Sticker v. Texas Full-Ride

Postby rickgrimes69 » Fri May 24, 2013 5:41 pm

formerbiglawpartner wrote:To OP: No-Brainer. Go to UT. Do well. All the big Texas firms will be eating out of your hand. Moreover, every one and their dog is opening a Houston office these days. I'm astounded by the ignorance on this forum regarding regarding student debt the size of a mortgage.


Re: the bolded - you can't compare student loan debt to a mortgage because a mortgage retains equity, whereas a graduate degree is functionally worthless if you can't find a job. In OP's case, he doesn't just need a job, he needs a job that only ~35% of UT kids get. I wouldn't risk my entire financial future on a 35% chance, but maybe I'm just debt adverse.

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Monochromatic Oeuvre
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Re: Harvard Sticker v. Texas Full-Ride

Postby Monochromatic Oeuvre » Fri May 24, 2013 5:50 pm

rickgrimes69 wrote:I wouldn't risk my entire financial future on a 35% chance, but maybe I'm just debt adverse.


This should be reemphasized because of lot of posters missed the point--Harvard is the safe play, and UT is the major risk.

Though he takes on the most debt at Harvard, the odds are basically 100% he pays that back. He takes on less debt at Texas, but there is a serious chance he never pays it back.

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untar614
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Re: Harvard Sticker v. Texas Full-Ride

Postby untar614 » Fri May 24, 2013 5:52 pm

ajclark1992 wrote:I lived in the Rust Belt for a good 12 years. I've lived in DC. I couldn't imagine living in NYC or California. But I am positive that I love the diverse, robust cities in Texas, the lack of an income tax, the food, the music, and the weather in Texas. The biggest worry I have in waiting is that I feel like I have two pretty good options in front of me -- and I'm not quite sure I want to wait a year for schools I couldn't muster enough passion to even apply for last fall (although my respect for those making the suggestion right now is making me rethink this). I applied to CCNMVP this year, but my GPA has dipped slightly, and I don't see myself wanting one of the offers over the two options I've got. There's no way I'd be absolutley sure about beating over half my classmates at Texas -- if I could be totally sure of that, I probably wouldn't be on this forum.

As my grandpa would say, "I ain't sure of nothin"

My feeling at this point would be decide whether or not Harvard is feasible right now. If not, I'd say, given your situation, waiting and reapplying might be a good decision over full-ride at UT. I definitely agree with others that a Mordecai would be ideal for you. Baker Botts recruits a lot out of Duke, and so sending in your resume with that on there (I'm assuming they would know what it is given their tendencies) should get you some pull there. FWIW, I have a lower gpa and lsat than you and got essentially a full ride to NW, so its doable.

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rickgrimes69
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Re: Harvard Sticker v. Texas Full-Ride

Postby rickgrimes69 » Fri May 24, 2013 5:57 pm

Monochromatic Oeuvre wrote:
rickgrimes69 wrote:I wouldn't risk my entire financial future on a 35% chance, but maybe I'm just debt adverse.


This should be reemphasized because of lot of posters missed the point--Harvard is the safe play, and UT is the major risk.

Though he takes on the most debt at Harvard, the odds are basically 100% he pays that back. He takes on less debt at Texas, but there is a serious chance he never pays it back.


This mischaracterizes my point, as I don't think Harvard is a good option either. Graduating from anywhere with $400,000 in non-dischargable debt is absolute lunacy ITE. Paying that off will require a decade of aggressive loan payments, locking OP into Biglaw and forcing him to postpone any serious life plans (buying a home, starting a family, etc). His best option IMO is re-applying and gunning for a lower T14 for free, where he'll have a substantially better shot at Biglaw than at UT but far less debt than at Harvard.

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jbagelboy
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Re: Harvard Sticker v. Texas Full-Ride

Postby jbagelboy » Fri May 24, 2013 6:06 pm

rickgrimes69 wrote:
Monochromatic Oeuvre wrote:
rickgrimes69 wrote:I wouldn't risk my entire financial future on a 35% chance, but maybe I'm just debt adverse.


This should be reemphasized because of lot of posters missed the point--Harvard is the safe play, and UT is the major risk.

Though he takes on the most debt at Harvard, the odds are basically 100% he pays that back. He takes on less debt at Texas, but there is a serious chance he never pays it back.


This mischaracterizes my point, as I don't think Harvard is a good option either. Graduating from anywhere with $400,000 in non-dischargable debt is absolute lunacy ITE. Paying that off will require a decade of aggressive loan payments, locking OP into Biglaw and forcing him to postpone any serious life plans (buying a home, starting a family, etc). His best option IMO is re-applying and gunning for a lower T14 for free, where he'll have a substantially better shot at Biglaw than at UT but far less debt than at Harvard.


lol, Monochromatic's statement ignores the concept of scale in consideration of "risk"

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Monochromatic Oeuvre
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Re: Harvard Sticker v. Texas Full-Ride

Postby Monochromatic Oeuvre » Fri May 24, 2013 6:13 pm

rickgrimes69 wrote:
Monochromatic Oeuvre wrote:
rickgrimes69 wrote:I wouldn't risk my entire financial future on a 35% chance, but maybe I'm just debt adverse.


This should be reemphasized because of lot of posters missed the point--Harvard is the safe play, and UT is the major risk.

Though he takes on the most debt at Harvard, the odds are basically 100% he pays that back. He takes on less debt at Texas, but there is a serious chance he never pays it back.


This mischaracterizes my point, as I don't think Harvard is a good option either. Graduating from anywhere with $400,000 in non-dischargable debt is absolute lunacy ITE. Paying that off will require a decade of aggressive loan payments, locking OP into Biglaw and forcing him to postpone any serious life plans (buying a home, starting a family, etc). His best option IMO is re-applying and gunning for a lower T14 for free, where he'll have a substantially better shot at Biglaw than at UT but far less debt than at Harvard.


Apologies for lack of clarity--not attributing my statements as your "point," but rather what should be considering the overarching "point" of this decision. The belief that Harvard is the safe play and UT is the risk is my notion, predicated on the idea, as you mentioned, that perhaps it is unwise to risk your financial future on the very real possibility of not getting Biglaw out of UT.

FWIW, it seems to me that blanketing the T14 in September is his best choice as well.

jbagelboy wrote:lol, Monochromatic's statement ignores the concept of scale in consideration of "risk"


Scale would only be relevant if I believed the risk he assumes in going to Harvard were not effectively zero. HLS is literally the safest play possible. But as I mentioned before, the potential reward is going to UT is higher--certainly in the short-term (maybe in the long-term, although it's hard to express in words how far the Harvard degree goes if you haven't seen it yourself).




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