BioEBear2010 wrote:I'm surprised so many people would NEVER pay sticker, as there should really be no fear of debt at any of the T6 (and probably most/all of the T14). The large majority of law students work either for a BigLaw firm or a PI/Government group after graduation. At these schools, there really isn't much risk in not finding a job, especially now that the economy is picking up. BigLaw earns roughly 160K in most major markets, which would allow a student to pay of any loans rather comfortably. I believe all of the T6 schools have a LRAP program which will significantly help pay off debt if the student pursues PI/Gov't.
But maybe I'm underestimating the riskiness of attending a T6 (or I'm inherently risk-seeking).
A few things in rebuttal:
-For the most part, biglaw pays 160k in only the biggest markets. A lot of NLJ jobs do not pay anywhere near that, and some NLJ firms pay less than 100k.
-160k is a lot of money in any market, but it is a lot less in a city like NYC or D.C. (which is where these 160k jobs are). Once you factor in rent, taxes, transportation and other living expenses, you don't have nearly as much as you'd like to throw at your debt as you seem to think.
-Also, most people who work at a 160k-paying firm will be there for 2-3 years. Even making large loan repayments, you'll still have a ton of debt. You won't get anywhere close to paying off 200k in debt on a 160k/year salary for 2-3 years, especially in a city like New York or D.C. or one of the other big expensive markets. There's a good chance you'd still have six-figures of debt after leaving biglaw.
I'm not saying T6 isn't worth sticker. I think it is. I just think you are seriously underestimating just how much debt $200,000 is.