Is Michigan worth $120K debt?

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acr

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Is Michigan worth $120K debt?

Postby acr » Sat Feb 25, 2017 1:57 am

Asking for a friend. Will be financed through loans. $120K debt is the total figure including COA and tuition. Career goals are Chicago big law, and that's basically it. Weighing against a WUSTL full scholly.

pyramidenergy888

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Re: Is Michigan worth $120K debt?

Postby pyramidenergy888 » Sat Feb 25, 2017 2:19 am

How much debt would you(r friend) incur at WUSTL?

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brinicolec

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Re: Is Michigan worth $120K debt?

Postby brinicolec » Sat Feb 25, 2017 2:26 am

If I didn't incorrectly calculate, like 9% of WUSTL grads go to Illinois. Even if we want to assume that's all Chicago BL folks, that's still not very great odds, and I'm not willing to bet much (or any) money that the only reason it's low is because of self-selection. Conversely, Michigan places a little under 12% in Chicago, and some of that may be self-selection... But also, you have to realize Chicago BL is gonna be hard to get because there's two kick ass law schools in Chicago that place really well in BL and really well locally and Chicago just isn't as big of a market as somewhere like NYC.

acr

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Re: Is Michigan worth $120K debt?

Postby acr » Sat Feb 25, 2017 2:27 am

pyramidenergy888 wrote:How much debt would you(r friend) incur at WUSTL?


10K

pyramidenergy888

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Re: Is Michigan worth $120K debt?

Postby pyramidenergy888 » Sat Feb 25, 2017 2:38 am

acr wrote:
pyramidenergy888 wrote:How much debt would you(r friend) incur at WUSTL?


10K


Well I don't know anything about big law so maybe what I have to say isn't worth much. But saving $110,000 is pretty cool. That's a lot of money to pay back.

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star fox

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Re: Is Michigan worth $120K debt?

Postby star fox » Sat Feb 25, 2017 3:27 am

This question depends on a very important question - what is the GPA/LSAT and thus is there a chance of improvement of scholarship numbers as a result of improved LSAT performance? The debt of WUSTL versus Michigan is really just a judgment risk assessment call.

Rigo

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Re: Is Michigan worth $120K debt?

Postby Rigo » Sat Feb 25, 2017 8:41 am

I'd do Michigan at that price point.
star fox wrote: The debt of WUSTL versus Michigan is really just a judgment risk assessment call.

But yeah this.

T3TON

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Re: Is Michigan worth $120K debt?

Postby T3TON » Sun Feb 26, 2017 12:16 am

acr wrote:Asking for a friend. Will be financed through loans. $120K debt is the total figure including COA and tuition. Career goals are Chicago big law, and that's basically it. Weighing against a WUSTL full scholly.


In essence, the question here is if it is worth it to spend 110k to double your chances at a good outcome.
Reasonable minds will differ; I tend to think the answer is yes.
Obviously if you are leaving LSAT points on the board your math changes.
But on a biglaw salary, 120k is manageable, and I would feel comfortable attending Michigan at that price point.

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Johann

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Re: Is Michigan worth $120K debt?

Postby Johann » Sun Feb 26, 2017 3:20 am

if your goal is biglaw, then you need to go in guns blazing with what maximizes your chances. trying to save 110k for a biglaw career earnings of what could be $20+M is way too debt averse, IF youre set on biglaw AND have done your homework on what it entails

biglaw sucks though (objectively based on the stats and paycuts people take to leave) and 60%+ of people leave before they become a senior associate.

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jbagelboy

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Re: Is Michigan worth $120K debt?

Postby jbagelboy » Sun Feb 26, 2017 9:12 pm

Seems fine

runinthefront

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Re: Is Michigan worth $120K debt?

Postby runinthefront » Sun Feb 26, 2017 9:13 pm

I would go to UM at $120k debt all in, but that's just my personal choice.
Last edited by runinthefront on Fri Jan 26, 2018 11:10 pm, edited 1 time in total.

20170322

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Re: Is Michigan worth $120K debt?

Postby 20170322 » Sun Feb 26, 2017 9:35 pm

Including COL?

Yeah, sure, fuck it, why not?



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