OperaSoprano wrote:OK, I LOL'd, but not everyone (even those people like me, who will be in horrendous debt) is willing to take a biglaw job to pay it off, now that IBR and loan forgiveness exist. This goes double for people at schools with decent LRAPs. In the past, you guys would have been spot on, and many PI hopefuls still follow this line of thinking.
If I ever have a shot at a market paying job, and I decline to pursue it for any reason, will people think I've gone off the deep end? (Answer with the knowledge that I will owe well north of $200k by graduation.)
We're assuming LRAPs aren't going be massacred by the employment situation? A tad wishful.
Also, I don't understand why you have to be well north of $200k by graduation. You are a PT student and presumably, a lot of PT students work during the school year to minimize their debt load. No?
Fordham's LRAP, like many others, is fairly restrictive as to the type of employment it will cover. It was designed specifically to aid people taking legal aid jobs, and those jobs won't become any easier to find. I imagine that more people will seek out qualifying employment, but I don't know that they're going to get it, unless nonprofits suddenly go on a hiring binge. At present, our LRAP doesn't cover government work, though the school is trying to raise the funds to do so.
Net result: More people trying to get the job I want. However, if I succeed in getting it, probably not much less LRAP money for me, all things held equal, and assuming our endowment doesn't shrink. (It's actually growing, even now, I believe. It is still insanely small for a school of Fordham's merit. Many schools further down the rankings have much, much more money than we do. People think Fordham is being stingy with financial aid: it really isn't. This is all we have, and people come for love of the school. Full time cross-admits nearly always get more money from BU and Emory.)
I will remain PT through the end of the summer, at which point I will be a day student. It is impossible for me to earn enough money to cover my COL without blasting a gigantic hole through my GPA. Many of my classmates discovered this and quit their jobs, though some are still working, and I salute them. I'm not ashamed to admit that I could not work full time and still pass my classes, and I'm frankly amazed by those who can. We're only taking one class under a full course load, so this is a pretty robust part time program. I'm not sitting around, though. I have an internship at a wonderful nonprofit within walking distance of my school. As you can probably imagine, it's unpaid.
I'll manage somehow. I swore when I began this process that I would choose a school for love and not for money (remarkably similar to the way I choose boys, actually, lol. Wealth does not impress me. Someone with a classical education who is into literature and the arts [strike]might[/strike] did so once. Things don't always end perfectly, but there is still so much of life left to come.)