UMN or UST?

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olemiss18

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UMN or UST?

Postby olemiss18 » Thu Mar 15, 2018 12:29 am

Definitely want to work in Minnesota (preferably Twin Cities). Going to hit the books hard in school as if I wanted a BigLaw gig but necessary. I just want something that'll help me pay off my debt (maybe that means BigLaw?). I'm not retaking so I won't bother giving that info. Which of these two looks better?

UMN with $19k/year scholarship = approx. $42k/year (I've found a cheap place)
St. Thomas with 85% scholarship = approx. $15k/year

I'm far more inclined to UMN, but I'm not 100% sold.

minnbills

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Re: UMN or UST?

Postby minnbills » Thu Mar 15, 2018 9:51 am

UMN grad checking in. Congrats on your admission.

What is your total COA at each school? That's a more meaningful number. Looks like it's about $126k for UMN and $45k for UST. Plus a fair amount more for interest.

Unless you get a biglaw job you will have a hard time servicing that debt coming out of UMN. The most likely outcome from UST is a small law job or you won't be working in the law (seriously.)

Do you have any more info to provide re your goals and background? That would be helpful.

olemiss18

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Re: UMN or UST?

Postby olemiss18 » Thu Mar 15, 2018 4:23 pm

minnbills wrote:UMN grad checking in. Congrats on your admission.

What is your total COA at each school? That's a more meaningful number. Looks like it's about $126k for UMN and $45k for UST. Plus a fair amount more for interest.

Unless you get a biglaw job you will have a hard time servicing that debt coming out of UMN. The most likely outcome from UST is a small law job or you won't be working in the law (seriously.)

Do you have any more info to provide re your goals and background? That would be helpful.


Thanks for your response. Yeah, I'll say roughly $130k from UMN (keeping bar expenses and such in mind I suppose). I don't really know what kind of background info would be helpful, but I have no ties to Minnesota; I just really want to live there. I'm coming from Mississippi, a state I've lived in forever and do not intend to live in again. As for goals, I would be fine with working at a small or mid-size firm, but as you mentioned, paying off debt in a reasonable amount of time would be difficult. So my plan regardless of where I attend is to work my butt off as if I were dead set on big law. Of course I'm sure everyone wants to be in the top 15% of their class, so I'm not really saying much. I do not know the exact area in which I want to practice (I have ideas, but I feel like any speculation I have is somewhat superficial prior to actually taking classes and finding what I truly am interested in).

I guess it comes down to whether I am more comfortable going to a school with shallow job prospects on a heavy discount or a school with reasonably strong job prospects with a heavy price tag. My thinking is the latter. But I don't know for sure.

minnbills

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Re: UMN or UST?

Postby minnbills » Thu Mar 15, 2018 4:49 pm

Can I ask why you like Minnesota so much? (I grew up there and love it - left for NYC for another opportunity, and hope to return to MPLS at some point.)

The average law grad at UMN either works for a smaller firm or local/state government, or clerks for a state court judge. If you just want a law job in MN, then it's a great option. Really just comes down to whether you're comfortable with the debt. At ~130k, you'll be looking at between ~$1100-1300 or so per month over a 10 year repayment period. That's not the end of the world, but it's a significant burden.

Personally I wouldn't go to St. Thomas at all if I wanted a career in the law, barring some sort of family connection that can get me a job or the like.

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deadpanic

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Re: UMN or UST?

Postby deadpanic » Thu Mar 15, 2018 4:49 pm

Fellow OM grad (although I did not attend law school in MN or practice there).

6 figures of debt (likely 150k-ish after fees + interest) from UMN is way too much of a gamble.

What are your stats?

Fireworks2016

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Re: UMN or UST?

Postby Fireworks2016 » Thu Mar 15, 2018 10:10 pm

Another UMN grad checking in. I'm very happy w/ my decision to go there, but I graduated with ~50k in debt, not 130k. I'd probably feel differently with that level of debt.

But I don't think it's worth paying 15k for St. Thomas either. Can you retake? GPA?



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