T14 Sticker vs. T30 Full Tuition Scholly

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XxSpyKEx
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby XxSpyKEx » Tue Dec 02, 2014 7:30 pm

Hutz_and_Goodman wrote:Put 60k per year toward your debt (gets you to 300k in 5 years) and live on:
~35k your first year
~45k your second year
~60k your third year
~85k your fourth year
~105k your fifth year

With a decent amount of self-control, it shouldn't be that bad. You even get more money to live on if you worked at a firm during your 2L summer and used some of that money to offset your loans.

*Disclaimer: All numbers above are post-tax, and assumes that you work BigLaw, in a major city, and can hold your job for 5 years.

For people reading this, keep in mind that there is more than 50% attrition by year 3 and more than 80% by year 5. It's not a guarantee you will get to this point. Also, living on 35k in NYC means working big law hours while living with three roommates, and never going out/eating at a restaurant/drinking at a bar/going on vacation.


+1. The notion that anyone making $160k /year is going to live off $35k or even $45k /year in NYC is absurd. Literally almost no one does this. You just aren't going to be willing to live a college student lifestyle when working NYC biglaw hours. Realistically, you're going to pay $40k /year towards your loans max, and will have a ton of debt still left after 3-5 years when you're no longer in biglaw (assuming realistic best case scenario where you make it 3-5 years in biglaw).

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Mr. Elshal
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby Mr. Elshal » Tue Dec 02, 2014 8:23 pm

XxSpyKEx wrote:
Hutz_and_Goodman wrote:Put 60k per year toward your debt (gets you to 300k in 5 years) and live on:
~35k your first year
~45k your second year
~60k your third year
~85k your fourth year
~105k your fifth year

With a decent amount of self-control, it shouldn't be that bad. You even get more money to live on if you worked at a firm during your 2L summer and used some of that money to offset your loans.

*Disclaimer: All numbers above are post-tax, and assumes that you work BigLaw, in a major city, and can hold your job for 5 years.

For people reading this, keep in mind that there is more than 50% attrition by year 3 and more than 80% by year 5. It's not a guarantee you will get to this point. Also, living on 35k in NYC means working big law hours while living with three roommates, and never going out/eating at a restaurant/drinking at a bar/going on vacation.


+1. The notion that anyone making $160k /year is going to live off $35k or even $45k /year in NYC is absurd. Literally almost no one does this. You just aren't going to be willing to live a college student lifestyle when working NYC biglaw hours. Realistically, you're going to pay $40k /year towards your loans max, and will have a ton of debt still left after 3-5 years when you're no longer in biglaw (assuming realistic best case scenario where you make it 3-5 years in biglaw).


Your comment is a little absurd. Do you really think "literally almost no one" in New York City lives on 35-45k after tax? I don't know which parts of the city you've been to, but you're certainly wrong. Also, 35-45k comes out to $3000-3750 in spending every month. Even if you subtract rent, that can't be the miserable life you make it out to be. I've lived in NYC on less than that and was still able to go out like twice or three times a week. If you really feel like anything less than 55-65k per year of spending money is the absolute minimum you could realistically do, then you're living too luxurious a life for someone with a quarter of a million dollars of tuition debt.

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Sheriff
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby Sheriff » Tue Dec 02, 2014 8:42 pm

Mr. Elshal wrote:
XxSpyKEx wrote:
Hutz_and_Goodman wrote:Put 60k per year toward your debt (gets you to 300k in 5 years) and live on:
~35k your first year
~45k your second year
~60k your third year
~85k your fourth year
~105k your fifth year

With a decent amount of self-control, it shouldn't be that bad. You even get more money to live on if you worked at a firm during your 2L summer and used some of that money to offset your loans.

*Disclaimer: All numbers above are post-tax, and assumes that you work BigLaw, in a major city, and can hold your job for 5 years.

For people reading this, keep in mind that there is more than 50% attrition by year 3 and more than 80% by year 5. It's not a guarantee you will get to this point. Also, living on 35k in NYC means working big law hours while living with three roommates, and never going out/eating at a restaurant/drinking at a bar/going on vacation.


+1. The notion that anyone making $160k /year is going to live off $35k or even $45k /year in NYC is absurd. Literally almost no one does this. You just aren't going to be willing to live a college student lifestyle when working NYC biglaw hours. Realistically, you're going to pay $40k /year towards your loans max, and will have a ton of debt still left after 3-5 years when you're no longer in biglaw (assuming realistic best case scenario where you make it 3-5 years in biglaw).


Your comment is a little absurd. Do you really think "literally almost no one" in New York City lives on 35-45k after tax? I don't know which parts of the city you've been to, but you're certainly wrong. Also, 35-45k comes out to $3000-3750 in spending every month. Even if you subtract rent, that can't be the miserable life you make it out to be. I've lived in NYC on less than that and was still able to go out like twice or three times a week. If you really feel like anything less than 55-65k per year of spending money is the absolute minimum you could realistically do, then you're living too luxurious a life for someone with a quarter of a million dollars of tuition debt.


Psh. Do you have any idea how expensive insurance is on a Ferrari mother***er?!

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Mr. Elshal
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby Mr. Elshal » Tue Dec 02, 2014 9:46 pm

Sheriff wrote:
Mr. Elshal wrote:
XxSpyKEx wrote:
Hutz_and_Goodman wrote:Put 60k per year toward your debt (gets you to 300k in 5 years) and live on:
~35k your first year
~45k your second year
~60k your third year
~85k your fourth year
~105k your fifth year

With a decent amount of self-control, it shouldn't be that bad. You even get more money to live on if you worked at a firm during your 2L summer and used some of that money to offset your loans.

*Disclaimer: All numbers above are post-tax, and assumes that you work BigLaw, in a major city, and can hold your job for 5 years.

For people reading this, keep in mind that there is more than 50% attrition by year 3 and more than 80% by year 5. It's not a guarantee you will get to this point. Also, living on 35k in NYC means working big law hours while living with three roommates, and never going out/eating at a restaurant/drinking at a bar/going on vacation.


+1. The notion that anyone making $160k /year is going to live off $35k or even $45k /year in NYC is absurd. Literally almost no one does this. You just aren't going to be willing to live a college student lifestyle when working NYC biglaw hours. Realistically, you're going to pay $40k /year towards your loans max, and will have a ton of debt still left after 3-5 years when you're no longer in biglaw (assuming realistic best case scenario where you make it 3-5 years in biglaw).


Your comment is a little absurd. Do you really think "literally almost no one" in New York City lives on 35-45k after tax? I don't know which parts of the city you've been to, but you're certainly wrong. Also, 35-45k comes out to $3000-3750 in spending every month. Even if you subtract rent, that can't be the miserable life you make it out to be. I've lived in NYC on less than that and was still able to go out like twice or three times a week. If you really feel like anything less than 55-65k per year of spending money is the absolute minimum you could realistically do, then you're living too luxurious a life for someone with a quarter of a million dollars of tuition debt.


Psh. Do you have any idea how expensive insurance is on a Ferrari mother***er?!


Did I not factor that into my calculations? My bad. So we deduct another 10k per year and...oh, now it looks bad.

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A. Nony Mouse
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby A. Nony Mouse » Tue Dec 02, 2014 10:49 pm

Mr. Elshal wrote:
XxSpyKEx wrote:
Hutz_and_Goodman wrote:Put 60k per year toward your debt (gets you to 300k in 5 years) and live on:
~35k your first year
~45k your second year
~60k your third year
~85k your fourth year
~105k your fifth year

With a decent amount of self-control, it shouldn't be that bad. You even get more money to live on if you worked at a firm during your 2L summer and used some of that money to offset your loans.

*Disclaimer: All numbers above are post-tax, and assumes that you work BigLaw, in a major city, and can hold your job for 5 years.

For people reading this, keep in mind that there is more than 50% attrition by year 3 and more than 80% by year 5. It's not a guarantee you will get to this point. Also, living on 35k in NYC means working big law hours while living with three roommates, and never going out/eating at a restaurant/drinking at a bar/going on vacation.


+1. The notion that anyone making $160k /year is going to live off $35k or even $45k /year in NYC is absurd. Literally almost no one does this. You just aren't going to be willing to live a college student lifestyle when working NYC biglaw hours. Realistically, you're going to pay $40k /year towards your loans max, and will have a ton of debt still left after 3-5 years when you're no longer in biglaw (assuming realistic best case scenario where you make it 3-5 years in biglaw).


Your comment is a little absurd. Do you really think "literally almost no one" in New York City lives on 35-45k after tax? I don't know which parts of the city you've been to, but you're certainly wrong. Also, 35-45k comes out to $3000-3750 in spending every month. Even if you subtract rent, that can't be the miserable life you make it out to be. I've lived in NYC on less than that and was still able to go out like twice or three times a week. If you really feel like anything less than 55-65k per year of spending money is the absolute minimum you could realistically do, then you're living too luxurious a life for someone with a quarter of a million dollars of tuition debt.

Oh, look, it's this argument again.

hikensurf
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby hikensurf » Tue Dec 02, 2014 11:20 pm

DaRascal wrote:
canadianbrother wrote:It depends on what your goals are. If BigLaw is not what you want, the t30 is better no doubt. People love to say biglaw is overrated and lasts only 5 years, but after you can exist into great jobs with a better work life balance that are only attainable after a biglaw stint. If thats what you want the t14 is better.

But the real answer is retake. Unless you want rich parents.



Hmmmm.. maybe T14 at sticker is legit after all now that you put it that way.


No man, don't fall into that trap. Only you know how great of a student you are capable of being, but unless you go to a TTT BigLaw is still open to you. Especially if you're URM (diversity 1L SA's).

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XxSpyKEx
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby XxSpyKEx » Wed Dec 03, 2014 1:15 am

Mr. Elshal wrote:
XxSpyKEx wrote:
Hutz_and_Goodman wrote:Put 60k per year toward your debt (gets you to 300k in 5 years) and live on:
~35k your first year
~45k your second year
~60k your third year
~85k your fourth year
~105k your fifth year

With a decent amount of self-control, it shouldn't be that bad. You even get more money to live on if you worked at a firm during your 2L summer and used some of that money to offset your loans.

*Disclaimer: All numbers above are post-tax, and assumes that you work BigLaw, in a major city, and can hold your job for 5 years.

For people reading this, keep in mind that there is more than 50% attrition by year 3 and more than 80% by year 5. It's not a guarantee you will get to this point. Also, living on 35k in NYC means working big law hours while living with three roommates, and never going out/eating at a restaurant/drinking at a bar/going on vacation.


+1. The notion that anyone making $160k /year is going to live off $35k or even $45k /year in NYC is absurd. Literally almost no one does this. You just aren't going to be willing to live a college student lifestyle when working NYC biglaw hours. Realistically, you're going to pay $40k /year towards your loans max, and will have a ton of debt still left after 3-5 years when you're no longer in biglaw (assuming realistic best case scenario where you make it 3-5 years in biglaw).


Your comment is a little absurd. Do you really think "literally almost no one" in New York City lives on 35-45k after tax? I don't know which parts of the city you've been to, but you're certainly wrong. Also, 35-45k comes out to $3000-3750 in spending every month. Even if you subtract rent, that can't be the miserable life you make it out to be. I've lived in NYC on less than that and was still able to go out like twice or three times a week. If you really feel like anything less than 55-65k per year of spending money is the absolute minimum you could realistically do, then you're living too luxurious a life for someone with a quarter of a million dollars of tuition debt.


That's not what I said. We all know that you/someone you know/etc. lived off $35k /year in NYC while in college/working as a bartender/some other random bullshit. (And obviously it is better financially to be doing things that way.) But you need to be pretty damn disciplined to be only spending that much while making $160k+ /year plus AND living the miserable NYC biglaw associate lifestyle. Most people aren't able to do that for 3-5 year without jumping off a bridge. If you're able to live that frugally while working in biglaw, congrats to you, but recognize that almost none of your fellow associates will be. (In other words, it's possible, but it's not very likely you'll be doing this when you're actually in biglaw.)

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Doritos
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby Doritos » Wed Dec 03, 2014 8:36 am

hikensurf wrote:
DaRascal wrote:
canadianbrother wrote:It depends on what your goals are. If BigLaw is not what you want, the t30 is better no doubt. People love to say biglaw is overrated and lasts only 5 years, but after you can exist into great jobs with a better work life balance that are only attainable after a biglaw stint. If thats what you want the t14 is better.

But the real answer is retake. Unless you want rich parents.



Hmmmm.. maybe T14 at sticker is legit after all now that you put it that way.


No man, don't fall into that trap. Only you know how great of a student you are capable of being, but unless you go to a TTT BigLaw is still open to you. Especially if you're URM (diversity 1L SA's).


Bad advice. Saying that biglaw is "open" to you at law schools like Northeastern, Yeshiva, and Michigan State is just not true unless you are really stretching the meaning of the word "open."

But you could be using TTT to refer to schools outside of the top 30. Still, you probably shouldn't bank on biglaw because you could be at a school like Alabama or Iowa which aren't exactly known for their biglaw placement.

timbs4339
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby timbs4339 » Wed Dec 03, 2014 3:31 pm

The question is not whether you can, it's whether you want to. I know NYC biglawyers living exactly the same way they were when they were law students (walkup apartment shared with several roommates, cheap meals, dollar beer specials). Some people really don't mind that- hell, they did it for seven years. But if you're someone who went to law school thinking in three years you'll be able to afford a fancy apartment in a luxury building (at least 3K month), new clothes, expensive dinners once a week, vacations to luxury hotels, then something's gotta give- and that something will be an aggressive loan repayment schedule.
Last edited by timbs4339 on Wed Dec 03, 2014 3:47 pm, edited 1 time in total.

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AreJay711
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby AreJay711 » Wed Dec 03, 2014 3:44 pm

Either way, just pocket the money and blow it on bottle service once a month or something. PAYE has your back . . . I hope.

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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby jbagelboy » Wed Dec 03, 2014 4:29 pm

timbs4339 wrote:The question is not whether you can, it's whether you want to. I know NYC biglawyers living exactly the same way they were when they were law students (walkup apartment shared with several roommates, cheap meals, dollar beer specials). Some people really don't mind that- hell, they did it for seven years. But if you're someone who went to law school thinking in three years you'll be able to afford a fancy apartment in a luxury building (at least 3K month), new clothes, expensive dinners once a week, then something's gotta give- and that something will be an aggressive loan repayment schedule.


actually a lot of law students I know already live like this lol

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nealric
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby nealric » Wed Dec 03, 2014 5:34 pm


Put 60k per year toward your debt (gets you to 300k in 5 years) and live on:
~35k your first year
~45k your second year
~60k your third year
~85k your fourth year
~105k your fifth year

With a decent amount of self-control, it shouldn't be that bad. You even get more money to live on if you worked at a firm during your 2L summer and used some of that money to offset your loans.

*Disclaimer: All numbers above are post-tax, and assumes that you work BigLaw, in a major city, and can hold your job for 5 years.


I'm not sure why people are finding this schedule so unreasonable. The 1st/2nd year biglaw lifestyle is actually a perfect time to live cheap. You are going to be practically living in the office, so why spring for expensive rent? Lots of Seamless meals on the client keep food expenses low. And it's not like you would have time to enjoy a fancy car or other toys. I lived on about $50k a year when I was in NYC Biglaw, but I had a spouse who was still in school at the time. $35k would have been no problem if I had been a bachelor. I lived on ~$15k as a law student (in a major East coast city), so it was still a lot more financial freedom than I was used to.

As for the OP's question, I suppose it depends on what you want in life. Some people won't be happy unless they have a big job in a big city. Others want a relaxed lifestyle in the Midwest. Don't go T14 if you want the latter. The idea that Biglaw is a 2-3 year party and then you are out on the street is, I think, overly negative. Everyone in my biglaw class (except for one who went PI and one who married wealthy) is still in a 6-figure job (I've kept up with most through Linked in), even if the majority are no longer with the firm they started with. However, if you are at a lower-T14 there is a non-trivial chance you will miss the biglaw boat and be hosed. That may be worth it for some, but certainly not everyone.

timbs4339
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby timbs4339 » Wed Dec 03, 2014 6:28 pm

jbagelboy wrote:
timbs4339 wrote:The question is not whether you can, it's whether you want to. I know NYC biglawyers living exactly the same way they were when they were law students (walkup apartment shared with several roommates, cheap meals, dollar beer specials). Some people really don't mind that- hell, they did it for seven years. But if you're someone who went to law school thinking in three years you'll be able to afford a fancy apartment in a luxury building (at least 3K month), new clothes, expensive dinners once a week, then something's gotta give- and that something will be an aggressive loan repayment schedule.


actually a lot of law students I know already live like this lol


Don't think those are the types who are going to be struggling with debt repayment.

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DaRascal
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby DaRascal » Sun Jan 11, 2015 4:05 am

BruceWayne wrote:It's amazing that people are still stuck in the antiquated ideology of ANY law school in the top 14 being worth the full price. REGARDLESS of your goals NO top 14 is worth the full cost of attendance period. I really believe that, like myself when I took it on, do not understand the life changing/hindering decision that taking out massive student loan debt entails.



I thought long and hard about this post, but I disagree, Brucey. I screwed up the LSAT, burned all my retakes, and came up a few points short of putting myself into the T14 these past two years, but I would love to be in the position you and many others have been in and have a chance to take a high-risk/high-reward gamble on myself, even if I'm worried about having what it takes to make the grade at such a vaunted group of schools. If I have to sit out another cycle or two, I'm going to look for ways to improve my soft credentials for law school to compensate for my weaker numbers and C&F "issue", which time is erasing as we speak. 8)

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Postby santoki » Tue Jan 13, 2015 6:02 pm

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Last edited by santoki on Thu Sep 10, 2015 11:18 am, edited 2 times in total.

DportIA
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby DportIA » Tue Jan 13, 2015 6:19 pm

Mr. Elshal wrote:Put 60k per year toward your debt (gets you to 300k in 5 years) and live on:
~35k your first year
~45k your second year
~60k your third year
~85k your fourth year
~105k your fifth year

With a decent amount of self-control, it shouldn't be that bad. You even get more money to live on if you worked at a firm during your 2L summer and used some of that money to offset your loans.

*Disclaimer: All numbers above are post-tax, and assumes that you work BigLaw, in a major city, and can hold your job for 5 years.


OR go to law school for free and then imagine that sweet $300,000 going into saving/retirement/investment. 0Ls, you have a choice. Never personally pay sticker for law school. NEVER PAY STICKER FOR LAW SCHOOL. NEVER PAY STICKER FOR LAW SCHOOL

Nomo
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby Nomo » Tue Jan 13, 2015 6:39 pm

From what I can tell here are some of the things that tend to make biglaw associates spend more money than they'd like:
(1) They pay a lot in rent because they need to live near their firms (nobody wants to commute very far when they're regularly working past dinner)
(2) They spend a lot on clothes, events, food, bars, etc. in an attempt to keep up with the Jones's (and if you don't keep up you end up socially isolated)
(3) They end up spending too heavily on various domestic services that they don't have time for (laundry, dry cleaning, maids, childcare)
(4) They spend heavily on vacations. Last minute plane tickets because you can't plan in advance, expensive resorts because they lack the time to plan something more interesting, etc.

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DaRascal
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby DaRascal » Tue Jan 13, 2015 11:32 pm

santoki wrote:do you think improving softs without your gpa/lsat will boost you into t14? honestly wondering


I've spent a lot of time thinking about it, and I honestly do think it could push me in. It really does pain me that I never got the 3 or so extra points I needed on the LSAT. That bothers me every day honestly. I just don't get how I got the scores I got when I can sit down with a prep book mowing down questions. I really do feel that I'm a solid 4-6 points better than my best score. I choked on two of my takes, but I didn't feel that much pressure on the others.


Eh... ED Cornell next year if this cycle is a dud I suppose. I honestly don't care about debt. I have ~$30k in undergrad debt, I've lost well over $10k gambling since my undergrad days, and I never think about those things. I think I'll be more than able to handle the psychological burden because I don't see law school debt as being crippling to being able to pay for basic necessities and luxuries (TV, internet, books).

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Doritos
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby Doritos » Wed Jan 14, 2015 10:52 am

DaRascal wrote:
santoki wrote:do you think improving softs without your gpa/lsat will boost you into t14? honestly wondering


I've spent a lot of time thinking about it, and I honestly do think it could push me in. It really does pain me that I never got the 3 or so extra points I needed on the LSAT. That bothers me every day honestly. I just don't get how I got the scores I got when I can sit down with a prep book mowing down questions. I really do feel that I'm a solid 4-6 points better than my best score. I choked on two of my takes, but I didn't feel that much pressure on the others.


Eh... ED Cornell next year if this cycle is a dud I suppose. I honestly don't care about debt. I have ~$30k in undergrad debt, I've lost well over $10k gambling since my undergrad days, and I never think about those things. I think I'll be more than able to handle the psychological burden because I don't see law school debt as being crippling to being able to pay for basic necessities and luxuries (TV, internet, books).


Cornell cost of attendance is $79,429/year. That's $238,287 plus your 30k equals $268,287 in debt at graduation (not including interest that's accruing while you are attending, which could be something like 30k). Ugh. Just ugh. You do realize that even if you refinance that debt at 4% (assuming you are able) and you throw $4k per month on the loans with your biglaw job (which you aren't guaranteed) you are looking at 6 years (assuming you keep the job that long) JUST TO GET TO ZERO. You will be working one of the most demanding jobs around for over half a decade while living a pretty frugal lifestyle in (most likley) a high cost of living area just to achieve the same net worth you had the day you were born.

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XxSpyKEx
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby XxSpyKEx » Wed Jan 14, 2015 2:23 pm

Doritos wrote:
DaRascal wrote:
santoki wrote:do you think improving softs without your gpa/lsat will boost you into t14? honestly wondering


I've spent a lot of time thinking about it, and I honestly do think it could push me in. It really does pain me that I never got the 3 or so extra points I needed on the LSAT. That bothers me every day honestly. I just don't get how I got the scores I got when I can sit down with a prep book mowing down questions. I really do feel that I'm a solid 4-6 points better than my best score. I choked on two of my takes, but I didn't feel that much pressure on the others.


Eh... ED Cornell next year if this cycle is a dud I suppose. I honestly don't care about debt. I have ~$30k in undergrad debt, I've lost well over $10k gambling since my undergrad days, and I never think about those things. I think I'll be more than able to handle the psychological burden because I don't see law school debt as being crippling to being able to pay for basic necessities and luxuries (TV, internet, books).


Cornell cost of attendance is $79,429/year. That's $238,287 plus your 30k equals $268,287 in debt at graduation (not including interest that's accruing while you are attending, which could be something like 30k). Ugh. Just ugh. You do realize that even if you refinance that debt at 4% (assuming you are able) and you throw $4k per month on the loans with your biglaw job (which you aren't guaranteed) you are looking at 6 years (assuming you keep the job that long) JUST TO GET TO ZERO. You will be working one of the most demanding jobs around for over half a decade while living a pretty frugal lifestyle in (most likley) a high cost of living area just to achieve the same net worth you had the day you were born.


This is actually significantly understating the amount of debt he'll graduate with. By the time he gets into Cornell, tuition will be a lot higher, since tuition seems to go up around 10% each year, and interest will also be a lot more. I highly doubt he'll be able to refinance to 4% for 6 years. The only way he can refinance to that rate is if the fed government will keep interest rates at near 0 for that period of time, and that's simply not going to happen. I'd wager he's going to be closer to $350-400k in debt by the time he graduates, assuming he starts in class of 2017 or 2018. Assuming he graduates with $375k in debt, in the first year of repayment, he'll accrue roughly $30k in interest (assuming he's stuck at 7.9% GradPLUS interest), meaning he need to pay more than $30k that first year to even touch the principal. I highly doubt he'll ever get out of debt, even if he gets biglaw (unless he somehow manages to make partner, but his odds of winning the lottery are probably better than that).

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DaRascal
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby DaRascal » Wed Jan 14, 2015 2:59 pm

Chill, guys, those are just numbers. :P

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TheSpanishMain
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby TheSpanishMain » Wed Jan 14, 2015 4:15 pm

You guys realize DaRascal has been trolling TLS for years now, right?

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JohannDeMann
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby JohannDeMann » Wed Jan 14, 2015 4:20 pm

you guys are acting like darascal is some kind of nervous wreck like you all. debt is all a mindset. darascal is chill and would hook up that PAYE and make min payments for 20 years while having about 5k gambling money a month extra.

mvp99
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby mvp99 » Wed Jan 14, 2015 4:27 pm

did you really get a t14 or are we just talking here

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XxSpyKEx
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Re: T14 Sticker vs. T30 Full Tuition Scholly

Postby XxSpyKEx » Wed Jan 14, 2015 5:30 pm

JohannDeMann wrote:you guys are acting like darascal is some kind of nervous wreck like you all. debt is all a mindset. darascal is chill and would hook up that PAYE and make min payments for 20 years while having about 5k gambling money a month extra.


Lol except that PAYE payments would be around $17k /year on that $185k from his salary + bonus in his first year of biglaw, and the tax bomb that would hit him on the 20th year would definitely ruin his chill looking poker face.




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