shredderrrrrr wrote: Opie wrote: shredderrrrrr wrote:
Opie wrote:It came! Not quite the rockstar Opperman scholarship that Shredderrr got, but it's pretty decent. $30k/year with the same stips that have been mentioned so far.
Now it's time to make serious considerations!
Damn, I really wanted you to get an Opperman as well. That's still a nice scholarship though. Congrats! I can't remember the tuition prices, but that's got to be pretty close to full, isn't it?
I can't remember: did you ever hear back about scholarships for Iowa?
It's 88.5% if tuition doesn't change. We should know by March 1 what the tuition will be for sure.
Never heard anything from Iowa. I doubt if I get anything there. I got 25% at UIUC, and they're known to give out a lot of scholarships.
Hopefully it doesn't raise too much. Most schools I have noticed raise tuition about $2,000 a year. Drake Law, however, has been well known in the past to have some of the lowest tuition increases of any law school.
And FWIW, I got a full at Iowa and only 50% at UIUC.
I'm hoping they don't raise it at all. I got the impression from my conversation that that was a possibility.
I did a little analysis to see how Drake stacked up financially to Iowa with the scholarship I have. I thought it might be useful to some of you guys that are weighing that decision. I used the model I use for weighted average cost of capital (business nerd). I'm not actually a math guy though, so if anyone can figure out a way to refine this to account for some of the either/or language in the stipulations, please let me know.
I also used last years numbers since I don't know if they will change.
Drake with $30k scholly:
1L: $4636 (33900 - 30000 + 736 fees)
2L: $34636 (33900 - 10500 [30k scholly adj for top 35% prob] - 750 [5% chance of renewal at half] - 300 [10% chance of renewal at 10%])
3L: $34636 (same as 2L)
Total not including living expenses and books: $50,808
Iowa at sticker (resident):
$27,344 per year or $82,032 not including books or living expenses.
Obviously these don't include tuition increases, etc., but they're okay for comparison. Drake might actually be a little cheaper than what is listed due to the weird language in the stipulations, or it might be more due to a possible increase in tuition.
I also looked at Drake's cost if I lose the scholly completely after the first year and it came to $73,908. Still pretty decent.