Tiago Splitter wrote:
Fussell wrote:I think, generally, it is a poor decision to accrue significant debt in law school. If you do you will likely feel/have the need to work biglaw, or work in Public Interest with the constant fear of losing your job and PILF. Why box yourself into a need to work in biglaw or the public sector? One's ability to potentially pursue alternate career paths or be entrepreneurial is seriously undermined by debt.
Obviously, opportunity cost is a consideration, as has been mentioned earlier. However, I think it would likely not be wise to attend, say, T6 at sticker over T14 with a substantial scholarship. I put my money where my mouth is and choose a school over HS for a substantial scholarship. I feel I made the right decision absolutely. I experience minimal stress about grades and OCI because, should things not go perfectly, I'll have so little debt I can do anything I'd like after graduation. That in itself has immense value.
1. Your post history indicates you hadn't been accepted to any of HYS as of mid-July. I'm also not sure how you experienced minimal stress about OCI if you just signed up for this game.
2. If you have the numbers for HYS (and with a 171/3.98, you'd qualify) there tend to be large scholarship options within the T-14. When someone asks "Is T-14 at sticker worth it?" they typically aren't talking about Harvard.
3. For many splitters simply going a little further down the rankings to pick up extra scholarship money isn't possible. And once you get outside the T-14 the job prospects usually drop off so quickly as to make law school itself a questionable choice, even if close to free.
1. Retake and waitlist admissions, doubling of original scholarship.
I think everyone probably thinks about grades and their careers (by extension OCI) during 1L, and it is comforting to know that I'll never have to be as stressed about these things due to a low debt load. But I'll also never have to worry about being fired and cut off from a huge paycheck or PILF because I have massive debt. I'm recommending this course to others who were in a similar position.
2. Well, HYS are certainly in the T14, and my post can be implicitly read to indicate that I believe none of the T-14 are worth sticker if HYS are not. Unless you're 100% sure that you want to, and can get hired as, a biglaw lawyer/public interest lawyer and also 100% sure your firm/office will not collapse and 100% sure you won't be fired from that firm/office, then I think that the uncertainty of one's law school outcome will result in stress throughout law school and the entire time one is in PILF or until all one's debt is paid off. More importantly than stress though, is the dramatic loss of opportunity cost when accruing debt. It's easy to imagine the potential opportunities one has to forego in order to remain in biglaw or government/PI.
The only hypothetical in my response was that I think it would be unwise to choose HYS at sticker over T6 with a substantial scholarship. I stand by that. Of course, if someone has the certainties (or near certainties) listed above, then it becomes increasingly appropriate for them to take on debt, but I still don't think it is a wise life-long decision due to the loss of immense opportunity costs.
3. As to splitters, I would advocate retaking the LSAT until a high-enough score has been achieved that it would enable them to attend T14 with substantial scholarship. Barring a relatively severe limitation, with enough work it is possible for an intelligent person to score well into the 170s with enough practice. Given that all of CCN had a drop in LSAT score 25%/75% this year, they will increasingly favor LSAT over GPA. I think HYS will eventually be effected by this too and more students will choose CCN with substantial scholarship because of the increasing costs of HYS.