kappycaft1 wrote:Hey, a few other random questions for you current students: I was wondering about the graduation/employment timeline after law school. I assume that students graduate in May/June... but what usually happens immediately thereafter? Does one usually study for the bar for a couple of months, take the bar (in July/August?), and then get hired in the fall, or what exactly does the timeline of events look like for the first year after graduating? I'm basically just trying to figure out how much of a gap there will be (in months) after law school during which students usually don't have any income. Also, do most students have to study for the bar exam through a program, or is self-study sufficient? If most graduates use a program, what is the norm? (BARBRI (LinkRemoved)?)
I am thinking of taking the home equity loan route (3~4% interest) instead of the federal loan route (6.8~7.9% interest), but want to make sure that I have taken into account all expenses for the next few years until I actually start making $$$.
The timeline depends on what you are doing, but for firm work at least it is all pretty similar.
School finishes at the end of May, and graduation is mid June. You have to jump straight from exams into bar prep in order to take the July bar exam. If you received an offer from your 2L summer you will already be "hired" well before school ends, and firms generally notify their incoming first years of their start dates sometime in the late winter or early spring. Depending on the firm you may get a choice of start dates to choose from or be expected to start on a set date. Usually start dates will be sometime in August/Sept/Oct, and firms may change their start dates from year to year based on their needs. If your firm offers you options, you can sometimes have the option to start as late as November or December.
Firms will generally cover your bar prep expenses, and you would be foolish not to take a prep program. People generally use one of BARBRI, Themis, or Kaplan. Some firms only pay for BARBRI. Most firms also offer some kind of stipend to cover your expenses between finishing school and starting at the firm. For some firms this is just an advance on your first year pay, for others it is an additional part of your benefits package. Typical stipends range between $10-$15K.
Each quarterly tuition payment will be reduced by $3,333.