WOW Fordham COA up to $73k...

(Applications Advice, Letters of Recommendation . . . )
User avatar
Bronx Bum
Posts: 474
Joined: Tue Jun 01, 2010 6:02 pm

WOW Fordham COA up to $73k...

Postby Bronx Bum » Sat Jun 25, 2011 5:58 pm

Kind of sucks.

Job prospects going down, price of tuition going up. Someone needs to step in.

joefow91
Posts: 20
Joined: Mon May 30, 2011 2:06 am

Re: WOW Fordham COA up to $73k...

Postby joefow91 » Sat Jun 25, 2011 6:25 pm

I don't understand how universities charge so much. It's atrocious. Essentially extortion. There should be limits....

User avatar
Bronx Bum
Posts: 474
Joined: Tue Jun 01, 2010 6:02 pm

Re: WOW Fordham COA up to $73k...

Postby Bronx Bum » Sat Jun 25, 2011 6:29 pm

joefow91 wrote:I don't understand how universities charge so much. It's atrocious. Essentially extortion. There should be limits....


It's disgusting. It's up about 2k from last year (someone correct me if I'm wrong). Thank god i only have one more year of this. The worst part is that I tried to get an answer from the registrar about a transcript issue and the woman didn't know and told me to email someone. To this day, i still haven't gotten a response form that email.

They charge so much for tuition yet give nothing back. Well, they do print the Fordham logo on all of their napkins.

jplayer
Posts: 17
Joined: Fri Mar 05, 2010 7:22 am

Re: WOW Fordham COA up to $73k...

Postby jplayer » Sat Jun 25, 2011 6:33 pm

joefow91 wrote:I don't understand how universities charge so much. It's atrocious. Essentially extortion. There should be limits....


There is a limit: the point at which you and others say "This is no longer worth it."

User avatar
omninode
Posts: 405
Joined: Tue Oct 12, 2010 2:09 pm

Re: WOW Fordham COA up to $73k...

Postby omninode » Sat Jun 25, 2011 6:38 pm

The thought that some people are going into $200,000+ debt with little hope of getting a decent-paying job is just terrifying.

User avatar
Bronx Bum
Posts: 474
Joined: Tue Jun 01, 2010 6:02 pm

Re: WOW Fordham COA up to $73k...

Postby Bronx Bum » Sat Jun 25, 2011 6:40 pm

omninode wrote:The thought that some people are going into $200,000+ debt with little hope of getting a decent-paying job is just terrifying.


Yeah. I'm paying only about 25k a year but that's still terrible.

joefow91
Posts: 20
Joined: Mon May 30, 2011 2:06 am

Re: WOW Fordham COA up to $73k...

Postby joefow91 » Sat Jun 25, 2011 6:47 pm

I'm an undergrad student right now. You wouldn't believe what people pay for a bachelors degree. Regardless of prestige, its like the new high school diploma. And yes, people need to get there finances in order. Capitulation=Lower cost of tuition. Academia= Joke

joefow91
Posts: 20
Joined: Mon May 30, 2011 2:06 am

Re: WOW Fordham COA up to $73k...

Postby joefow91 » Sat Jun 25, 2011 6:52 pm

Oh yea, have to mention this. My girlfriend goes to NYU and is studying foreign language education. She pays full price. So don't feel bad seeing that you have a scholarship. LOL This has to raise your spirits about life a bit.

User avatar
omninode
Posts: 405
Joined: Tue Oct 12, 2010 2:09 pm

Re: WOW Fordham COA up to $73k...

Postby omninode » Sat Jun 25, 2011 7:03 pm

I managed to come out of undergrad with almost zero debt. I think that gives me some freedom in choosing law schools. Some people are clearly going into law school with already tens to hundreds of thousands in debt. I almost feel like I dodged a bullet there.

User avatar
kapital98
Posts: 1188
Joined: Sun Jan 09, 2011 9:58 pm

Re: WOW Fordham COA up to $73k...

Postby kapital98 » Sat Jun 25, 2011 7:19 pm

omninode wrote:I managed to come out of undergrad with almost zero debt. I think that gives me some freedom in choosing law schools. Some people are clearly going into law school with already tens to hundreds of thousands in debt. I almost feel like I dodged a bullet there.


A person with $100,000's worth of debt could always do IBR. In that case they would have to live relatively poor for 10 years and then all of their debt would be forgiven. The better school you go to the more they will contribute to your monthly payment.

Unless you're going into biglaw there is not much else you can do unless you want to be in debt until your 50's. :(

User avatar
Bronx Bum
Posts: 474
Joined: Tue Jun 01, 2010 6:02 pm

Re: WOW Fordham COA up to $73k...

Postby Bronx Bum » Sat Jun 25, 2011 7:21 pm

kapital98 wrote:
omninode wrote:I managed to come out of undergrad with almost zero debt. I think that gives me some freedom in choosing law schools. Some people are clearly going into law school with already tens to hundreds of thousands in debt. I almost feel like I dodged a bullet there.


A person with $100,000's worth of debt could always do IBR. In that case they would have to live relatively poor for 10 years and then all of their debt would be forgiven. The better school you go to the more they will contribute to your monthly payment.

Unless you're going into biglaw there is not much else you can do unless you want to be in debt until your 50's. :(


It's very hard to get a job that qualifies you for 10 yr IBR. Now even more so. You have to have some sort of "in." Most govn't, non profit joints aren't hiring. In fact, cutting back.

CanadianWolf
Posts: 10439
Joined: Wed Mar 24, 2010 4:54 pm

Re: WOW Fordham COA up to $73k...

Postby CanadianWolf » Sat Jun 25, 2011 7:27 pm

The solution is to return to allowing educational loans to be discharged in bankruptcy. This will stop the free flow of money in the form of educational loans. Similiar lending patterns led to the housing crisis resulting in the real estate collapse of the past few years.

User avatar
kapital98
Posts: 1188
Joined: Sun Jan 09, 2011 9:58 pm

Re: WOW Fordham COA up to $73k...

Postby kapital98 » Sat Jun 25, 2011 7:30 pm

Bronx Bum wrote:It's very hard to get a job that qualifies you for 10 yr IBR. Now even more so. You have to have some sort of "in." Most govn't, non profit joints aren't hiring. In fact, cutting back.


The job market is better than it was a few years ago and should continue to slowly get better with time.

However, that's really not my point. My point is it's easier to get a public interest job than a biglaw job. So if a person is planning on paying off their debt within a relatively short time frame the only real other option, sans starving yourself, is to do IBR.

On a completely ancedotal note: I did an internship with a Public Defender's office 2 years ago, during the worst of the recession, and they were still hiring. The bizarre thing was most of their new hires were from Cooley and similiar schools :?

User avatar
Bronx Bum
Posts: 474
Joined: Tue Jun 01, 2010 6:02 pm

Re: WOW Fordham COA up to $73k...

Postby Bronx Bum » Sat Jun 25, 2011 7:31 pm

CanadianWolf wrote:The solution is to return to allowing educational loans to be discharged in bankruptcy. This will stop the free flow of money in the form of educational loans. Similiar lending patterns led to the housing crisis resulting in the real estate collapse of the past few years.


Student loan interest would be 29% if we do that.

User avatar
kapital98
Posts: 1188
Joined: Sun Jan 09, 2011 9:58 pm

Re: WOW Fordham COA up to $73k...

Postby kapital98 » Sat Jun 25, 2011 7:33 pm

CanadianWolf wrote:The solution is to return to allowing educational loans to be discharged in bankruptcy. This will stop the free flow of money in the form of educational loans. Similiar lending patterns led to the housing crisis resulting in the real estate collapse of the past few years.


All Perkins, Stafford, and GradPLUS loans are guranteed by the federal government. That means if bankruptcy is allowed to discharge debt the schools will still get their money and the taxpayers will have to pay the difference.

This will actually increase the amount of money schools get from students. Demand for loans will increase because the risk inherent with loans for students will decrease. An increase in demand will give the schools more money and allow them to further increase tuition if they so desire. On both counts the schools receive more money and the problem underlying the issue would probably become worse.

User avatar
kapital98
Posts: 1188
Joined: Sun Jan 09, 2011 9:58 pm

Re: WOW Fordham COA up to $73k...

Postby kapital98 » Sat Jun 25, 2011 7:34 pm

Bronx Bum wrote:
CanadianWolf wrote:The solution is to return to allowing educational loans to be discharged in bankruptcy. This will stop the free flow of money in the form of educational loans. Similiar lending patterns led to the housing crisis resulting in the real estate collapse of the past few years.


Student loan interest would be 29% if we do that.


Good point.

ToTransferOrNot
Posts: 1928
Joined: Thu Jan 22, 2009 12:45 am

Re: WOW Fordham COA up to $73k...

Postby ToTransferOrNot » Sat Jun 25, 2011 7:35 pm

CanadianWolf wrote:The solution is to return to allowing educational loans to be discharged in bankruptcy. This will stop the free flow of money in the form of educational loans. Similiar lending patterns led to the housing crisis resulting in the real estate collapse of the past few years.


and federal loans have never really been dischargeable anyway.

CanadianWolf
Posts: 10439
Joined: Wed Mar 24, 2010 4:54 pm

Re: WOW Fordham COA up to $73k...

Postby CanadianWolf » Sat Jun 25, 2011 7:35 pm

Student loans could still be government subsidized or funded & administered. Private lenders would compete. One's credit score would affect the interest rate.

User avatar
kapital98
Posts: 1188
Joined: Sun Jan 09, 2011 9:58 pm

Re: WOW Fordham COA up to $73k...

Postby kapital98 » Sat Jun 25, 2011 7:38 pm

CanadianWolf wrote:Student loans could still be government subsidized or funded & administered. Private lenders would compete. One's credit score would affect the interest rate.


Then you're inherently putting the poor at a disadvantage because of a lack of credit history compared to the middle+upper class.

Higher interest rates, and the lack of public subsidization for GradPLUS and non-subsidized stafford loans, would decrease the demand for law school. This would actually be a good thing if the common claim that we have too many lawyers is accurate.

The basic question is: Why do we have to have gov't subsidization for loans that aren't meant for the poor in the first place?

ToTransferOrNot
Posts: 1928
Joined: Thu Jan 22, 2009 12:45 am

Re: WOW Fordham COA up to $73k...

Postby ToTransferOrNot » Sat Jun 25, 2011 7:38 pm

CanadianWolf wrote:Student loans could still be government subsidized or funded & administered. Private lenders would compete. One's credit score would affect the interest rate.


The government isn't going to make dischargeable loans without collateral backing, lol.

User avatar
mpj_3050
Posts: 372
Joined: Fri Oct 02, 2009 9:59 pm

Re: WOW Fordham COA up to $73k...

Postby mpj_3050 » Sat Jun 25, 2011 7:42 pm

On the subject, how about the average UG indebtedness of 24k. Seems low but even that is still terrible considering what a Bachelor's gets you employment-wise nowadays.

I'm going to a school where my tuition will be 6k plus cheap cost of living and I will have substantial help from family in repaying the loans and I'm still worried as hell.

Fordham at at 73k is just absolutely atrocious.

Zazelmaf
Posts: 229
Joined: Sat Mar 26, 2011 5:42 pm

Re: WOW Fordham COA up to $73k...

Postby Zazelmaf » Sat Jun 25, 2011 7:49 pm

I pray that I can transfer there, but realize at top 18% from a T4 my chances are very slim. However, I'd gladly pay that. Gladly.

User avatar
FeelTheHeat
Posts: 5203
Joined: Tue Jan 18, 2011 2:32 am

Re: WOW Fordham COA up to $73k...

Postby FeelTheHeat » Sat Jun 25, 2011 7:52 pm

mpj_3050 wrote:
I'm going to a school where my tuition will be 6k plus cheap cost of living and I will have substantial help from family in repaying the loans and I'm still worried as hell.


Dude...come on.

User avatar
mpj_3050
Posts: 372
Joined: Fri Oct 02, 2009 9:59 pm

Re: WOW Fordham COA up to $73k...

Postby mpj_3050 » Sat Jun 25, 2011 8:05 pm

FeelTheHeat wrote:
mpj_3050 wrote:
I'm going to a school where my tuition will be 6k plus cheap cost of living and I will have substantial help from family in repaying the loans and I'm still worried as hell.


Dude...come on.


But Fordham > Ole Miss. Seriously though, everyone should be worried right now. Of course law is hurting badly but the overall job market is abysmal.

User avatar
FeelTheHeat
Posts: 5203
Joined: Tue Jan 18, 2011 2:32 am

Re: WOW Fordham COA up to $73k...

Postby FeelTheHeat » Sat Jun 25, 2011 8:11 pm

mpj_3050 wrote:
FeelTheHeat wrote:
mpj_3050 wrote:
I'm going to a school where my tuition will be 6k plus cheap cost of living and I will have substantial help from family in repaying the loans and I'm still worried as hell.


Dude...come on.


But Fordham > Ole Miss. Seriously though, everyone should be worried right now. Of course law is hurting badly but the overall job market is abysmal.


I mean, it's bad, but I'm from Miami (a pretty desirable market) and the place I interned for has 38k case management jobs opening up on a pretty constant basis that get, at most, 6 or 7 applications. It's certainly not glamorous, and if you are coming from 200k in UofMiami debt you are going to be in some serious pain, but it's an easily attainable stepping stone in one of the shittier economies around. It's not all roses and unicorns out there, but it's not nearly as bad as TLS makes it. If you plan on living in or around Mississippi, I think you are in a great situation that isn't worth stressing out in the least.

To be on topic, those are some crazy fucking numbers for Fordham. Given how quickly it seems the Big Law machine spits you out, it seems like the opportunities to pay back that immense debt would be few, if any.




Return to “Law School Admissions Forum”

Who is online

Users browsing this forum: kugs and 10 guests