Help me TLS make a life decision. Forum

[ironrenegade21]

I applied to WVU a couple years ago and decided at the time it wasn't the best decision for me to go. I live in state and always have and want to stay here (family, wifes family, generally enjoy WV...) Since then I have been working full time and have a decent job ~50k a year plus benefits which include a company vehicle, gas etc... however I have always wanted to practice law and while I enjoy my career now can't help but feel like something is missing. I don't wake up everyday with a passion for this career but do enjoy it and could see myself here forever, with the potential for upward mobility. I have worked at a firm and a county prosecutors office so I somewhat have an understanding about day to day practice. I was offered about a 1/3 tuition scholarship to WVU. I have a wife and two kids. I have some savings in a 401k and equity from a house plus additional savings that I could use to offset the cost of a law degree. Realistically looking at graduating with around 50K in debt, plus about 5 from undergrad. Would it be absolutely crazy for me to even consider this? Any insight would be appreciated.

[Winston1984]

I applied to WVU a couple years ago and decided at the time it wasn't the best decision for me to go. I live in state and always have and want to stay here (family, wifes family, generally enjoy WV...) Since then I have been working full time and have a decent job ~50k a year plus benefits which include a company vehicle, gas etc... however I have always wanted to practice law and while I enjoy my career now can't help but feel like something is missing. I don't wake up everyday with a passion for this career but do enjoy it and could see myself here forever, with the potential for upward mobility. I have worked at a firm and a county prosecutors office so I somewhat have an understanding about day to day practice. I was offered about a 1/3 tuition scholarship to WVU. I have a wife and two kids. I have some savings in a 401k and equity from a house plus additional savings that I could use to offset the cost of a law degree. Realistically looking at graduating with around 50K in debt, plus about 5 from undergrad. Would it be absolutely crazy for me to even consider this? Any insight would be appreciated.

Need more info. Stats? Wife's income? Will you have to move? Any living expenses? Kids' ages?

[ironrenegade21]

I applied to WVU a couple years ago and decided at the time it wasn't the best decision for me to go. I live in state and always have and want to stay here (family, wifes family, generally enjoy WV...) Since then I have been working full time and have a decent job ~50k a year plus benefits which include a company vehicle, gas etc... however I have always wanted to practice law and while I enjoy my career now can't help but feel like something is missing. I don't wake up everyday with a passion for this career but do enjoy it and could see myself here forever, with the potential for upward mobility. I have worked at a firm and a county prosecutors office so I somewhat have an understanding about day to day practice. I was offered about a 1/3 tuition scholarship to WVU. I have a wife and two kids. I have some savings in a 401k and equity from a house plus additional savings that I could use to offset the cost of a law degree. Realistically looking at graduating with around 50K in debt, plus about 5 from undergrad. Would it be absolutely crazy for me to even consider this? Any insight would be appreciated.

Need more info. Stats? Wife's income? Will you have to move? Any living expenses? Kids' ages?

Above gpa 25% and above LSAT 75% based on previous year acceptance I'm figuring about ~10k yr tuition. Wife doesn't work currently but could if we decided to move. The move would be acrosss state which is something that is appealing bc I'd like to leave where we are currently. Living expenses would be covered by loans/savings. The kids are both under school age.

[malleus discentium]

With that scholarship, you're looking at $22K a year in tuition, plus $13K COL. That's $35K x 3 years = $105K. Since the opportunity cost of those three years is at least $50K x 3 = $150K, you're looking at basically paying $255K for a JD. Even if your COL is completely factored out because of your wife's income, that's a COA of $217K.

WVU has just over a coin flip's chance of leading you to a real job as a lawyer and that's probably a job that doesn't pay much more than you're earning now. Does the scholarship have stipulations?

I don't see this as a prudent life choice.

[McAvoy]

We need more information (what was asked in the prior post), but if you're in a comfortable position right now and have a good job that you like, it's going to be very, very difficult for any of us to suggest you give up your current situation for a coin flip's chance at a job, a quarter-tuition scholarship, and three years of lost income. The numbers simply will not add up.

But if, say in a few years, you've built up a very nice savings, retaken the LSAT, and have a full ride offer to WVU, I could see it being an acceptable option if you're certain being a lawyer is the only path that will truly make you satisfied with your career -- but it's almost assuredly going to be a poor decision for your finances. Your finances obviously aren't all that matters in life, but the math at present is going to be really, really tough to justify.

[Winston1984]

Tough call. I wouldn't do it unless my wife was completely supportive, and able to find work so I didn't have to take out cost of living loans (although with kids you probably will have to anyway). There's probably not much need to retake. How open to negotiations were they before? Maybe apply to somewhere like Pitt to try to bring your costs down? I just think it's going to be too much money for a job that pays similar (or less) than what you have now (and you may not find a job at all). I wouldn't go in your situation.

[McAvoy]

75th LSAT is only 157. What was your actual score OP? If it was in that 157-160 range retaking is going to, in all likelihood, get you a better deal down the road.

[ironrenegade21]

With that scholarship, you're looking at $22K a year in tuition, plus $13K COL. That's $35K x 3 years = $105K. Since the opportunity cost of those three years is at least $50K x 3 = $150K, you're looking at basically paying $255K for a JD. Even if your COL is completely factored out because of your wife's income, that's a COA of $217K.

WVU has just over a coin flip's chance of leading you to a real job as a lawyer and that's probably a job that doesn't pay much more than you're earning now. Does the scholarship have stipulations?

I don't see this as a prudent life choice.

In state is roughly 18/yr. so figure roughly 10/yr in tuition. Which could be payed with savings. I know their 2013 numbers were down but 2012 was 70% and their enrollment numbers are down significantly for 2014. But I understand abot lost wages etc...

[ironrenegade21]

75th LSAT is only 157. What was your actual score OP? If it was in that 157-160 range retaking is going to, in all likelihood, get you a better deal down the road.

It was a 159 which could obviously be improved upon for more $$ and retaking is an option and probably the best. I just didn't know if a few extra points 165 +- would improve the situation substantially enough to make it worth it to retake.

[ironrenegade21]

Tough call. I wouldn't do it unless my wife was completely supportive, and able to find work so I didn't have to take out cost of living loans (although with kids you probably will have to anyway). There's probably not much need to retake. How open to negotiations were they before? Maybe apply to somewhere like Pitt to try to bring your costs down? I just think it's going to be too much money for a job that pays similar (or less) than what you have now (and you may not find a job at all). I wouldn't go in your situation.

Wife is 100% supportive likes the idea of moving. She understands about debt/jerbs, didn't ask about negotiations before. Really the only school that makes sense for us. And I'm fully aware about not finding a job or one that only pays what I'm making now. I think I would really enjoy practicing law and making money isn't the only thing that matters to me, however I'm really trying not to completely ruin my life.

[McAvoy]

75th LSAT is only 157. What was your actual score OP? If it was in that 157-160 range retaking is going to, in all likelihood, get you a better deal down the road.

It was a 159 which could obviously be improved upon for more $$ and retaking is an option and probably the best. I just didn't know if a few extra points 165 +- would improve the situation substantially enough to make it worth it to retake.

I don't profess to know anything about WVU's scholarship process, but the typical school is inclined to offer you more with a better score even though it doesn't affect their 75, and you're much more likely to get good offers from other schools that will help induce them to give you a better offer

[Rigo]

Retake, especially since you're unsure or what you want to do. Revisit this life decision when you have a better scholarship.
Honestly, your job sounds pretty good right now and the fact that you're not miserable in it tips my opinion in favor of you not attending law school.
Monetarily, attending law school is risky and the payoff likely won't leave you making any more than you're making now. It's very likely you'll be making less. Salary isn't everything, but it definitely should play into your decision considering you have a family to support.

TLDR: Retake to get more money, then decide. As it is now, my gut is saying you shouldn't go to law school.

[ironrenegade21]

Retake, especially since you're unsure or what you want to do. Revisit this life decision when you have a better scholarship.
Honestly, your job sounds pretty good right now and the fact that you're not miserable in it tips my opinion in favor of you not attending law school.
Monetarily, attending law school is risky and the payoff likely won't leave you making any more than you're making now. It's very likely you'll be making less. Salary isn't everything, but it definitely should play into your decision considering you have a family to support.

TLDR: Retake to get more money, then decide. As it is now, my gut is saying you shouldn't go to law school.

That's definitely the way I was leaning to begin with just wanted someone to tell me not to be an idiot. Thanks.