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bad idea?

Bad Idea Jeans.

Bad on an epic scale.

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apeopleshistory wrote:Houston COA @ sticker=132k (in state)
SMU COA @ sticker= 193k

Um, that is a big difference unless you are oos.

The worst part is it is actually $210k at SMU

http://smu.edu/financial_aid/graduate_Costs.asp

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Flappy Scribbleneck wrote:

apeopleshistory wrote:Houston COA @ sticker=132k (in state)
SMU COA @ sticker= 193k

Um, that is a big difference unless you are oos.

The worst part is it is actually $210k at SMU

http://smu.edu/financial_aid/graduate_Costs.asp

That estimate is high as hell. 20k for room and board? No.

apeopleshistory wrote:Houston COA @ sticker=132k (in state)
SMU COA @ sticker= 193k

Um, that is a big difference unless you are oos.

either one is not a good idea

mattviphky wrote:

Flappy Scribbleneck wrote:

apeopleshistory wrote:Houston COA @ sticker=132k (in state)
SMU COA @ sticker= 193k

Um, that is a big difference unless you are oos.

The worst part is it is actually $210k at SMU

http://smu.edu/financial_aid/graduate_Costs.asp

That estimate is high as hell. 20k for room and board? No.

Agreed - even living alone in the area of the school, 20K should take care of your living expenses for nine months, but it is still likely that SMU is more than $193,000 COA at sticker. I am being told we have the summer to think about, also: little chance of paid legal employment = more loans. If you room with someone and stay pretty frugal you can probably stretch $20k for 12 months.

I wont be taking out any loans, job prospects out of both of these are pretty good, or better than most, still not worth it?

ilovetonyromo wrote:I wont be taking out any loans, job prospects out of both of these are pretty good, or better than most, still not worth it?

If you are paying 130-200K out of pocket, then no it's not worth it. Buy something useful with that money.

If you have rich family that will pay for everything, why did you even ask?

ilovetonyromo wrote:I wont be taking out any loans, job prospects out of both of these are pretty good, or better than most, still not worth it?

Why won't you have loans?

Yeah just because you may have the money doesn't mean you should waste it.

Kid: I have an awesome idea for a small business, but I need $50,000 in start-up capital.

Mom and Dad: Are you crazy?

Kid: Can I have $200,000 to go to SMU's law school?

Mom and Dad: That sounds like a great idea!

I don't get why it would be a waste. If I was getting a full ride or paying sticker, I'd have the same job prospects either way. Full ride: everyone say's its great you should go. Paying for it: no no terrible idea. Why is this? And yes my parents will be paying for it.

ilovetonyromo wrote:I don't get why it would be a waste. If I was getting a full ride or paying sticker, I'd have the same job prospects either way. Full ride: everyone say's its great you should go. Paying for it: no no terrible idea. Why is this? And yes my parents will be paying for it.

So again, why did you ask? The cost makes a huge difference in whether or not it's worth it. Asking whether or not Houston or SMU are worth it at sticker causes everyone to assume that you will be graduating with six-figure debt.

As for job prospects, debt matters. Neither of these schools is likely to put you into a job that makes paying off six-figure debt easy. But they are likely to put you into some kind of legal job, and if that's all that matters to you, go for it.

ilovetonyromo wrote:I don't get why it would be a waste. If I was getting a full ride or paying sticker, I'd have the same job prospects either way. Full ride: everyone say's its great you should go. Paying for it: no no terrible idea. Why is this? And yes my parents will be paying for it.

The next question you need to ask is: will my parents be drawing from their home equity, their retirement savings, or will their quality of life be going down at all because of my decision to go to law school? If giving you 200K is at all a burden on your folks, you need to reconsider.

Look, if your parents can pay for it without it hurting their lifestyle or drawing from their home equity or retirement savings, go for it. Worse case scenario you live somewhere else for three years and come out still unemployed or making 40-50K. But there are a hell of a lot more productive things I could think of to do with three years and 200K than go to either of these two law schools.

Sounds good, thanks

Neither at sticker is a wise cost if it will have a financial impact that hurts you. Seriously, just 120k a year an you'll need a 65k job (no guarantee from any school) to pay it off in a reasonable amount of time.

Luckily for you, it seems like you don't have that issue. Your parents are loaded and you won the genetics game. You seem to have pretty great luck. I like your chances.

I say go to SMU and give back to the world by subsidizing some other poor bastard's scholarship.




Also,

Paul Campos wrote:Kid: I have an awesome idea for a small business, but I need $50,000 in start-up capital.

I get what you're saying here. But you're really, really underestimating how hard it is to succeed as an entrepreneur. It's the same odds as law school. Though there's less cost, so all else equal you do that.

Problem is, just like not everyone can do law, not everyone can be a business owner. If he doesn't have a good idea or the ability to be an entrepreneur, 50k start up is only a smaller waste of money.

250k wouldn't start a business worth owning for 99% of the population.