Jakobe wrote:You also have to remember that a 150k scholarship at Cornell is the almost same as a 120k scholarship at a school that has a more reasonable tuition.
True, tuition is pretty high, but it's more like having 135K at some of the cheapest T-14s.
Cost of attendance (not tuition) is what you should be subtracting the scholarship from to figure out how much debt you will be left with (which is what matters). After all, Cornell used to justify the higher tuition by claiming that the cost of living was lower here. I think Dean P's getting tuition under control now, but I'd still like to run the numbers on this.
Going through lawschooltransparency, here's what I've come up with. Obviously, there's room to debate the COL numbers, but I'm taking them at face value for now:
Cornell tuition is 60K and COL is 20K = 80K.
NYU is 57K and COL is 26K = 83K.
Stanford is 54K and COL is 29K = 83K.
Columbia is 60K and COL is 22K = 82K.
Harvard is 56K and COL is 26K = 82K.
Penn is 57K and COL is 22K = 79K.
Berkeley is 52K and COL is 27K = 79K.
GULC is 53K and COL is 26K = 79K.
Chicago is 55K and COL is 23K = 78K.
NU is 56K and COL is 22K = 78K.
UVA is 55K and COL is 21K = 76K.
Yale is 56K and COL is 20K = 76K.
Duke is 55K and COL is 20K = 75K.
Michigan is 55K and COL is 18K = 73K.
Indeed, if you go to lawschooltransparency
and sort by projected debt at repayment, assuming sticker for all schools, there are seven other T-14s more expensive than Cornell.
So let's take the second-cheapest T-14, Duke, and compare. Using the GULC debt calculator
, using starting COA of 75K for Duke and a 40K/year scholarship, you get 133K debt at repayment. Using starting COA of 80K for Cornell and a 50K/year scholarship, you get 115K debt at repayment. Coincidentally, that's almost exactly what you get when you use a 45K/year scholarship at Duke's 75K/year COA. So in conclusion, it's more like a 135K scholarship at a school with a "more reasonable tuition" when that school is the second-cheapest T-14.
Anyway, given that Duke and Michigan are our major competitors, you're mostly right and I should probably be studying for finals...