Top 50 Law Schools Debt Limit

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Zazzy91

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Top 50 Law Schools Debt Limit

Postby Zazzy91 » Tue Jun 19, 2018 5:16 pm

How much should my total debt limit be for a regional law school? (I am considering Indiana University - Maurer Law School with total debt of 80K - 90K.)

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totesTheGoat

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Re: Top 50 Law Schools Debt Limit

Postby totesTheGoat » Tue Jun 19, 2018 5:25 pm

I don't know that there's a hard and fast rule. If I had to do it again I'd probably not go over 6 figures, no matter the school.

Specifically for IU, the median entry level salary is $71k, and the likelihood of not ending up in a law job is ~1/3. I think that $80k is probably reasonable given those stats. $90k is getting a bit heavy for me.

I don't pretend that this is a particularly accurate or useful metric, but it fits my risk profile. Take your expected legal salary (the average legal salary (71k) times the likelihood of getting a full time legal job (2/3)) and multiply it by 2. for IU it gives me a number around $92k. Intuitively that seems a little bit higher than I would go to IU for, but not extremely so.

I assume you're talking about total cost of attendance, and not just the amount of tuition you're financing.

RecruiterMan

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Re: Top 50 Law Schools Debt Limit

Postby RecruiterMan » Tue Jun 19, 2018 5:28 pm

the sky is the limit baby, just go at sticker



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