Penn ($) vs Chicago

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Penn ($) vs Chicago

Penn ($)
26
74%
Chicago
9
26%
 
Total votes: 35

oneoff
Posts: 1
Joined: Tue Jul 02, 2013 4:43 pm

Penn ($) vs Chicago

Postby oneoff » Tue Jul 02, 2013 5:12 pm

-Schools you are considering: deposited at Penn. Withdrew from others. Just got into Chicago off waitlist.
-COA: sticker at Chicago. Sticker less $30k a year at Penn.
-How you will be financing your COA: all loans w00t debt slave. Have crazy UG debt like $50k.
-Where you are from and where you want to work, and other places where you have significant ties (if any): no ties anywhere. Want to work in DC or NYC. Do not think I would mind Chicago or Philadelphia though. BUT already spent everything on apartment deposit in Philly, so blah.
-Your general career goals: biglaw. Good clerkship if I can get. Pipe dream academia someday.
-Your LSAT/GPA numbers: 171 and 3.72.
-How many times you have taken the LSAT: three.

Don't care which city I live in for three years. just don't know if worth it to sacrifice apartment deposit and $30,000 aid from Penn. Chicago worth sticker especially if i really want to try for a good clerkship?

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WokeUpInACar
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Re: Penn ($) vs Chicago

Postby WokeUpInACar » Tue Jul 02, 2013 5:15 pm

Chicago is not worth anywhere near 100k more then Penn.

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magp90
Posts: 271
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Re: Penn ($) vs Chicago

Postby magp90 » Tue Jul 02, 2013 5:18 pm

I would stay at Penn for sure

potted plant
Posts: 96
Joined: Tue Jan 08, 2013 8:01 pm

Re: Penn ($) vs Chicago

Postby potted plant » Tue Jul 02, 2013 5:21 pm

Is it $30,000 per year? Or just $30,000 total. That's a big difference. I'd probably do Penn either way since you already have some debt, but if it's only $30k total I'd say it's a closer call.

senorhosh
Posts: 470
Joined: Tue Dec 28, 2010 4:45 am

Re: Penn ($) vs Chicago

Postby senorhosh » Tue Jul 02, 2013 5:35 pm

i would go Chicago but honestly you can't go wrong either way.

From your post, it seems 30k total right?
Chicago has an advantage in academia. I'd say for biglaw/fed clerkship it's a toss up between the two.
I think CoA is cheaper in Chicago (I might be wrong though) so that might offset the 30k a bit.

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sinfiery
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Re: Penn ($) vs Chicago

Postby sinfiery » Tue Jul 02, 2013 5:39 pm

Dude, 30k a year is $$ on the verge of $$$


Negotiate with UChi, if nothing materializes, go to Penn

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magp90
Posts: 271
Joined: Thu Mar 08, 2012 1:59 pm

Re: Penn ($) vs Chicago

Postby magp90 » Tue Jul 02, 2013 5:42 pm

sinfiery wrote:Dude, 30k a year is $$ on the verge of $$$


Negotiate with UChi, if nothing materializes, go to Penn


I think it's 30k total? But I could have misunderstood the OP.

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echamberlin8
Posts: 288
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Re: Penn ($) vs Chicago

Postby echamberlin8 » Tue Jul 02, 2013 5:52 pm

Penn since you said you would have to take on debt and you already have some UG debt. Easy answer.

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sinfiery
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Re: Penn ($) vs Chicago

Postby sinfiery » Tue Jul 02, 2013 5:53 pm

Says "less 30k a year" in COA but 30k as a hinted.total at the bottom. Not sure and it probably decides the answer to this thread

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2014
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Re: Penn ($) vs Chicago

Postby 2014 » Tue Jul 02, 2013 6:03 pm

If it's 30k total I'd do Chicago. Probably safer around median because of the grading system, and better clerkship/academia options.

If it's 90k I'd do Penn (but negotiate first with Chicago)

I know people at Chicago paying sticker + UG debt and it is doable, but that 90k + interest saved is probably too much.

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jbagelboy
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Re: Penn ($) vs Chicago

Postby jbagelboy » Tue Jul 02, 2013 8:18 pm

2014 wrote:
I know people at Chicago paying sticker + UG debt and it is doable, but that 90k + interest saved is probably too much.


Jesus christ. That would be horrible.

Ti Malice
Posts: 1955
Joined: Sat Mar 03, 2012 2:55 am

Re: Penn ($) vs Chicago

Postby Ti Malice » Tue Jul 02, 2013 9:07 pm

If you're getting $30K per year from Penn, it would be absolute madness to attend Chicago at sticker. Your debt at repayment from Chicago will be a little over $290K. Does interest continue to accrue on undergrad loans while you're in grad/professional school these days? If not, you're looking at a little over $340K after graduation, and if so, you'll be at roughly $350K. Horror. The latter means a loan payment of more than $4100 every month for 10 years and $500K in payments overall.

Debt at repayment from Penn will be a little over $175K. Either ~$225K or ~$235K with undergrad debt added, depending on the interest situation. Even that is pretty scary, but it's a far cry from the horror of the Chicago debt situation. The higher debt figure from Penn means a monthly payment of ~$2,750 and ~$335K in payments overall to pay off the debt in 10 years.

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Nelson
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Re: Penn ($) vs Chicago

Postby Nelson » Tue Jul 02, 2013 9:33 pm

Whether it's 30k or 90k, Chicago still isn't worth it over Penn for the east coast.

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Doorkeeper
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Re: Penn ($) vs Chicago

Postby Doorkeeper » Wed Jul 03, 2013 7:59 pm

Is academia a "pipe dream" in the sense that you might want to try it 3-5 years down the line, or a pipe dream in the sense of that you're going to try your damnest to position yourself well for academia while in law school and you're going to pray you land a job 1-2 years out?

If the former, Penn no question. If the later, Chicago is in contention.

Also, make sure to email Chicago your Penn scholarship. You might be able to get $15k per year out of them.




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