The "I chose the larger scholarship over higher rank" club Forum
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Re: The "I chose the larger scholarship over higher rank" club
You're alone if you're regretting your decision.
I went on a basically half-tuition scholarship @ a school with a ~$14,000 in-state tuition and have never regretted it over going to higher-ranked schools @ ~$40,000/year tuition + higher COL.
I'll graduate with a t-35 degree with about $10,000-$15,000 in debt vs. a t-20 degree @ $120,000+ in debt; why would I ever regret that? I'm also a bit biased because the other school I was considering has dropped considerably in the rankings.
I agree it would be a bit tougher to turn down a t-14 at sticker, but I probably would have made the same decision.
I went on a basically half-tuition scholarship @ a school with a ~$14,000 in-state tuition and have never regretted it over going to higher-ranked schools @ ~$40,000/year tuition + higher COL.
I'll graduate with a t-35 degree with about $10,000-$15,000 in debt vs. a t-20 degree @ $120,000+ in debt; why would I ever regret that? I'm also a bit biased because the other school I was considering has dropped considerably in the rankings.
I agree it would be a bit tougher to turn down a t-14 at sticker, but I probably would have made the same decision.
- Flips88
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Re: The "I chose the larger scholarship over higher rank" club
Except that as far as I know Vandy maxes out their highest scholarship offer at $84,000 plus $5k for 1L summer so you're still on the hook for $120,000+. Michigan or Penn for only $80k more would've been a fine choice, IMO.PDaddy wrote:whitman wrote:Turned down 5 T14s for $$ at Vandy.
That's not even a risk. That's just really sound decision-making, as Vandy is essentially indistinguishable in prestige from the lower T-14. In my mind, it could easily be ranked much higher than #15 or whatever.
- TheBigMediocre
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Re: The "I chose the larger scholarship over higher rank" club
Given that I finished top-2% this year, it was indeed a very good decision.PDaddy wrote:Very good decision if you're looking at working in Atlanta. UGA does nearly as well in that market.TheBigMediocre wrote:I just finished 1L, but I was in yalls shoes last year. Decided to take $$$ at UGA over Vandy.
- RareAir
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Re: The "I chose the larger scholarship over higher rank" club
Yep. According to Bankrate.com 160k in NYC is equivalent to 72k in NOLA (where I'm from)
On the flip side someone making 160k in NOLA would need to make 357k to live the same life in NYC.
As much as I would love to give NYC a shot for a few years after LS I fear that I'll end up working 60 hours a week and be poor.
On the flip side someone making 160k in NOLA would need to make 357k to live the same life in NYC.
As much as I would love to give NYC a shot for a few years after LS I fear that I'll end up working 60 hours a week and be poor.
- fatduck
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Re: The "I chose the larger scholarship over higher rank" club
for a single person, $90k and $160k are in the same tax bracket. also, that's not how income tax works.blsingindisguise wrote:When you factor in the higher tax bracket and a $1500/mo loan payment, the difference between $90K and $160K looks a lot smaller -- it's still significant but it's hardly an order of magnitude. Plus the biglaw associate drops to a lower salary in five years most likely anyway. Not saying that's necessarily a reason to make the calculation I made, it just worked out decently for me.protein wrote:how do you figure that?blsingindisguise wrote:This. My high five-figure salary with zero debt is basically going to afford me about the same lifestyle as a biglaw associate with $150-200K debt, and I'll be working less. Plus the biglaw associate most likely won't last in biglaw.Cavalier wrote:I don't know why you'd sweat it. Sure, odds are you won't get big law when you graduate, but you won't need big law to live a comfortable life if you're graduating with little debt.
/rant
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Re: The "I chose the larger scholarship over higher rank" club
1) you're incorrect about the tax brackets 2) I know how marginal tax rates work 3) what you posted wasn't a rantfatduck wrote: for a single person, $90k and $160k are in the same tax bracket. also, that's not how income tax works.
/rant
- Perch
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Re: The "I chose the larger scholarship over higher rank" club
60 hours/week would be the life, sounds good to me.RareAir wrote:Yep. According to Bankrate.com 160k in NYC is equivalent to 72k in NOLA (where I'm from)
On the flip side someone making 160k in NOLA would need to make 357k to live the same life in NYC.
As much as I would love to give NYC a shot for a few years after LS I fear that I'll end up working 60 hours a week and be poor.
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Re: The "I chose the larger scholarship over higher rank" club
Perch wrote: 60 hours/week would be the life, sounds good to me.
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Re: The "I chose the larger scholarship over higher rank" club
chose t13 over t10. looking forward to snow
- Flips88
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Re: The "I chose the larger scholarship over higher rank" club
Is it that hard to type Cornell?clone22 wrote:chose t13 over t10. looking forward to snow
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Re: The "I chose the larger scholarship over higher rank" club
Sometimes a man must go out of his way to properly troll on GeorgetownFlips88 wrote:Is it that hard to type Cornell?clone22 wrote:chose t13 over t10. looking forward to snow
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Re: The "I chose the larger scholarship over higher rank" club
kaiser wrote:Sometimes a man must go out of his way to properly troll on GeorgetownFlips88 wrote:Is it that hard to type Cornell?clone22 wrote:chose t13 over t10. looking forward to snow
LOL, +1
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Re: The "I chose the larger scholarship over higher rank" club
Bankrate.com is stupid. After a certain income level (I'd say around 90k) CoL gaps narrow because most of the CoL in NYC is rent/mortgage payments. Plus, even with a million dollars in NOLA there are things you just won't get there that are in NYC (and probably vice versa)...RareAir wrote:Yep. According to Bankrate.com 160k in NYC is equivalent to 72k in NOLA (where I'm from)
On the flip side someone making 160k in NOLA would need to make 357k to live the same life in NYC.
As much as I would love to give NYC a shot for a few years after LS I fear that I'll end up working 60 hours a week and be poor.
No need to rationalize your decision by marginalizing NYC.
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- shepdawg
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Re: The "I chose the larger scholarship over higher rank" club
What are you smoking? A couple people from my TTT get 160k BL jobs every year. Just bust out top 1% and work on your personality.Cavalier wrote:I don't know why you'd sweat it. Sure, odds are you won't get big law when you graduate, but you won't need big law to live a comfortable life if you're graduating with little debt.
- Malcolm8X
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Re: The "I chose the larger scholarship over higher rank" club
LOL!shepdawg wrote:What are you smoking? A couple people from my TTT get 160k BL jobs every year. Just bust out top 1% and work on your personality.Cavalier wrote:I don't know why you'd sweat it. Sure, odds are you won't get big law when you graduate, but you won't need big law to live a comfortable life if you're graduating with little debt.
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Re: The "I chose the larger scholarship over higher rank" club
This is credited.RareAir wrote: Idk about your specific situation, but 160k in NYC is equivalent to <100k in terms of COL vs many other markets paying in the 80-110k range. I'd much rather make 90k in Texas or the Southeast than 160k (and loads of debt) in NYC.
- NorCalBruin
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Re: The "I chose the larger scholarship over higher rank" club
UCLA w/ 90k+ over Cornell w/75 & Gtown w/30... but I guess that's not a big surprise or big rank drop.
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- Kendi
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Re: The "I chose the larger scholarship over higher rank" club
The difference between NYC and South Florida (where I want to live and work), made it an easy decision. $78K in South Florida is equivalent to $160K in NYC. Before making a decision I checked and discovered that a number of Big Law firms have offices in South Florida. According to their webs sites, a high percentage of their associates were Fla grads.romothesavior wrote: I think 100k in my local city comes out to something like 220k+ in NYC.
The one disappointing downside is that the tuition (and scholly money) is about the same as a T-10 school.
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Re: The "I chose the larger scholarship over higher rank" club
Someone's never ordered a double whiskey coke in NYC..bigkahuna2020 wrote:CoL gaps narrow because most of the CoL in NYC is rent/mortgage payments.
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Re: The "I chose the larger scholarship over higher rank" club
But that's half the fun!bigkahuna2020 wrote:Bankrate.com is stupid. After a certain income level (I'd say around 90k) CoL gaps narrow because most of the CoL in NYC is rent/mortgage payments. Plus, even with a million dollars in NOLA there are things you just won't get there that are in NYC (and probably vice versa)...RareAir wrote:Yep. According to Bankrate.com 160k in NYC is equivalent to 72k in NOLA (where I'm from)
On the flip side someone making 160k in NOLA would need to make 357k to live the same life in NYC.
As much as I would love to give NYC a shot for a few years after LS I fear that I'll end up working 60 hours a week and be poor.
No need to rationalize your decision by marginalizing NYC.
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Re: The "I chose the larger scholarship over higher rank" club
tier 3 private full ride over some tier 2 state schools. Dominates the market, -0- debt, blah blah everyone look how smart my decision is, please give me attention.
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Re: The "I chose the larger scholarship over higher rank" club
Someone is going to crappy out of towner clubs if they ever ordered a "double" anything in NYC. Your drink might be 6 dollars, but it will be 70% liquor.minnesotasam wrote:Someone's never ordered a double whiskey coke in NYC..bigkahuna2020 wrote:CoL gaps narrow because most of the CoL in NYC is rent/mortgage payments.
Seriously? What are you waiting for?
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