NYU vs UVA ($) vs Duke ($$)

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jbagelboy
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Re: NYU vs UVA ($) vs Duke ($$)

Postby jbagelboy » Sat May 25, 2013 12:10 am

Hutz_and_Goodman wrote:
sinfiery wrote:
Hutz_and_Goodman wrote:I think all of these options are pretty bad. I turned down 60k at duke to avoid $200k debt noose I would advise the same.

I disagree.


Haha. Evidence? So over three years you have $20-30k in income (assume paid 2L summer). And then post grad you have three years to pay off, or four years, at which poing you are likely either fired or on the verge?


There are many things wrong with this

You should learn more about what people who get jobs at NLJ250 firms actually do several years out of school before making such inaccurate generalizations

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sinfiery
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Re: NYU vs UVA ($) vs Duke ($$)

Postby sinfiery » Sat May 25, 2013 11:59 am

Hutz_and_Goodman wrote:
sinfiery wrote:
Hutz_and_Goodman wrote:I think all of these options are pretty bad. I turned down 60k at duke to avoid $200k debt noose I would advise the same.

I disagree.


Haha. Evidence? So over three years you have $20-30k in income (assume paid 2L summer). And then post grad you have three years to pay off, or four years, at which poing you are likely either fired or on the verge?

Almost no one gets fired. 3-5 years is likely for the amount of time staying in your first biglaw firm, but not the amount of time on the biglaw salary scale in general.

At 200k COA, if you get a 2l SA, you are possibly debt free in 3-4 in which case you have just become a 1%Er with no debt.

The risk is not getting that biglaw job but even then, if you realized ahead of time your grades were too low for that path, you could have set up a PI route and gunned for a PD position leaving you with no debt and a t14 JD in 10 years.


Worst case scenario, you ride out PAYE and leave the law field. That sucks, but PAYE is really nice and most people hate lawyers so there's something to celebrate!

Of course, you could be on the path to making 100k+ without taking on any of this debt while being indifferent about becoming a lawyer. Then, you probably shouldn't go, agreed. Some people aren't in that boat or one close to it and thus these options really aren't that bad. Particularly Duke if you are debt averse.




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