GULC v. NU v. Penn v. Cornell Forum

[XCanadian91]

Background:
Interested in Big Law or Corporate General Counsel post grad (to pay off loans), then go into PI.
Want to be employed in the Southwest or CA eventually but am flexible.
Concerned about debt (still have Ugrad debt)
Concerned about employment post law school
Also admitted to Penn with $0 Scholarship, Cornell $40K

Georgetown:
Have ties to DC
60K Less Debt than NU
Placement rate at NALP 250+ (31% - 38%)
Location (weather)

Northwestern:
Have Zero ties to Chicago
Great placement rate at NALP 250+ (Approx 52%)
Collegiate student body atmosphere (fewer gunners)

Penn
Great placement, NALP 250+ (Approx 54-56% Off top of my head)
Seems too expensive relative to other options

Cornell
Don't really like the cold, not targeted on NYC law


EDIT: Added PENN and Cornell Data and Poll choices

QUESTIONS:
Does the placement rate and atmosphere at NU translate into an additional $60K of debt (equivalent to $125K compounded over 10 yrs.)?

Any other pro-con thoughts out there?

[thelawyler]

What are the school's policies in terms of paying down debt during your Big Law years, and then transitioning into LRAP when you hit PI?

[NinerFan]

Corporate GC is very unlikely to happen immediately post-law school. I have heard of a company or two hiring straight from law school, but very rare.

NW, Penn, and perhaps Cornell place better than Georgetown. If you're west-coast, Penn or NW are probably better options.

Personally, I would pay an extra 60k to go to Northwestern, but I have a somewhat irrational bias against Georgetown and DC.

Employment prospects will be noticeably better at NW or Penn, but nothing's guaranteed, of course.

[rayiner]

Background:
Interested in Big Law or Corporate General Counsel post grad (to pay off loans), then go into PI.
Want to be employed in the Southwest or CA eventually but am flexible.
Concerned about debt (still have Ugrad debt)
Concerned about employment post law school
Also admitted to Penn with $0 Scholarship, Cornell $40K


Georgetown:
Have ties to DC
60K Less Debt than NU
Placement rate at NALP 250+ (31% - 38%)
Location (weather)

Northwestern:
Have Zero ties to Chicago
Great placement rate at NALP 250+ (Approx 52%)
Collegiate student body atmosphere (fewer gunners)


QUESTIONS:
Does the placement rate and atmosphere at NU translate into an additional $60K of debt (equivalent to $125K compounded over 10 yrs.)?

Any other pro-con thoughts out there?

Your compounding calculation is off. $60k is equivalent to $85k at 7.4% (7.9% - the 0.5% discount you get for direct withdrawal).

FWIW, I would have graduated with $60k less debt had I gone to Georgetown (parents live nearby), and I don't regret the decision one bit.

[XCanadian91]

What are the school's policies in terms of paying down debt during your Big Law years, and then transitioning into LRAP when you hit PI?

Very good advice... Looked into it and LRAP eligiblity requires qualified employment immediately after graduation.

I just want to pay my debt off sooner than 10 yrs... hoping to do it in 5.

[woeisme]

So COA would be what at Penn and Cornell?

As between GULC at 115k and NU at 175k, I'd take NU.

[XCanadian91]

So COA would be what at Penn and Cornell?

As between GULC at 115k and NU at 175k, I'd take NU.

Sorry - should have put that up.
Penn = Approx $225K
Cornell = Approx $185

[woeisme]

So COA would be what at Penn and Cornell?

As between GULC at 115k and NU at 175k, I'd take NU.

Sorry - should have put that up.
Penn = Approx $225K
Cornell = Approx $185

Okay, well, I think all these schools place comparably in the southwest/California. Penn is probably your strongest option, but it's likely not worth the additional costs. I think this is really between NU at 175 and Cornell at 185. If you wanted northeast, it'd be Cornell. If you wanted midwest, it'd be NU. Probably a wash for the southwest/west. Pick your favorite of Cornell and NU, I guess. Alternatively, decide where you'd want to be if you couldn't get back to the west coast. If midwest, NU. If northeast, Cornell.

[Tadatsune]

EDIT: Added PENN and Cornell Data and Poll choices

I don't know why. You really should be choosing between NU and GULC at these prices.

[iamrobk]

I'd go to NU given these choices.

[bk1]

I'd probably lean GULC but I can understand the hesitation and think it is reasonable to take NU instead.

[XCanadian91]

EDIT: Added PENN and Cornell Data and Poll choices

I don't know why. You really should be choosing between NU and GULC at these prices.

That's where I started but after a post asked about penn and cornell, I thought I'd include in poll just to be fair.