Cornell vs. Fordham Forum

[yosef99]

For someone who finds living in ithaca for 3 years somewhat repellent, do you think it makes sense to choose Fordham over Cornell? I feel like there are major benefits to living in NYC (networking, etc) despite the relative loss in prestige with Fordham. Thoughts?

[checkster]

Not close. Cornell.

Not. Close.

[Lawbro]

I have the same question. I've gotten a 25k a year scholly to fordham and my parents live near the city, so I can save some more money that way. Would fordham be the right choice for me?

[yosef99]

I should have written in my original post that $$ from fordham should be assumed. this would not be a sticker to sticker comparison.

[MrAnon]

Cornell hands down.

[clarion]

I think, (based on what I've absorbed via these message boards and other such websites) that unless Fordham offers you a full-ride and/or Cornell offers you nothing AND (andandand) biglaw is NOT your ultimate goal, then Cornell should be your choice. Both of you.

Nevertheless, this link (that I posted below) is a good one to look at as it breaks the NY LS environment down and (unlike a lot of TLS posters), backs its claims up with statistics.

http://www.top-law-schools.com/choosing ... in-ny.html

Good luck!

[Lawbro]

I think, (based on what I've absorbed via these message boards and other such websites) that unless Fordham offers you a full-ride and/or Cornell offers you nothing AND (andandand) biglaw is NOT your ultimate goal, then Cornell should be your choice. Both of you.

Nevertheless, this link (that I posted below) is a good one to look at as it breaks the NY LS environment down and (unlike a lot of TLS posters), backs its claims up with statistics.

http://www.top-law-schools.com/choosing ... in-ny.html

Good luck!

That's a very helpful link, thank you

[Chucky21]

Cornell w/out a doubt.

[dingbat]

I have the same question. I've gotten a 25k a year scholly to fordham and my parents live near the city, so I can save some more money that way. Would fordham be the right choice for me?

If you're talking about living with your parents and attending Fordham with $25k per year vs Cornell at sticker there are two ways to look at it:

Optimistic: If you think, hey, I'll definately be top half of the class, then Cornell is without a doubt better
Pessimistic: if you're worried about not doing so well, then Fordham is a lot less risky

Basically, Cornell gives you a larger margin of error, but, if you don't do well (say you're unlucky and wind up in the bottom 1/4 of the class) the significantly lower amount of debt will be more managable.

Numbers (Cornell followed by Fordham):
Biglaw placement: approximately 40% vs approximately 25%
Cost: approximately $200k vs approximately $60-$70k

[Lawbro]

I'm just forced to wonder if such a large difference in costs is worth the 20 percent greater chance of obtaining big law.

[dingbat]

I'm just forced to wonder if such a large difference in costs is worth the 20 percent greater chance of obtaining big law.

A quick analysis indicates the following monthly payments (at 7.9% interest):

$200k over 10 years: $2700
$200k over 20 years: $1850
$200k over 30 years: $1625

$60k over 10 years: $810
$60k over 20 years: $557
$60k over 30 years: $488

Now imagine if you don't get biglaw and need to pay it back earning only $60k per year
Or, imagine you start working for biglaw, but 3 years in you realize you hate it and want to bail out, to do something more fulfilling.
Also, the 25% placement for Fordham is only half the story, as this reflects students placed at law firms with 500+ attorneys in 2010. It is safe to say that over 50% of graduates will be making 6 figures (based on 2010 employment statistics), which is sufficient to afford the above payments.

[Jaeger]

Why no love for Ithaca?

[thexfactor]

I'm just forced to wonder if such a large difference in costs is worth the 20 percent greater chance of obtaining big law.

A quick analysis indicates the following monthly payments (at 7.9% interest):

$200k over 10 years: $2700
$200k over 20 years: $1850
$200k over 30 years: $1625

$60k over 10 years: $810
$60k over 20 years: $557
$60k over 30 years: $488

Now imagine if you don't get biglaw and need to pay it back earning only $60k per year
Or, imagine you start working for biglaw, but 3 years in you realize you hate it and want to bail out, to do something more fulfilling.
Also, the 25% placement for Fordham is only half the story, as this reflects students placed at law firms with 500+ attorneys in 2010. It is safe to say that over 50% of graduates will be making 6 figures (based on 2010 employment statistics), which is sufficient to afford the above payments.

You forgot to consider IBR. No one would pay for 30 years..... Max is 20 years. at a max of 10% of your taxable income.