Is this REASONABLE for UT? Forum

[shifty_eyed]

I am a Texas resident who wants to stay in TX and a splitter (i.e. retake won't help). Goal is gainful legal employment that will pay off debt.

The COA number in poll is using Georgetown calculator taking into account 12k/yr scholarship + 3k/yr grant and assuming a SLIGHTLY more frugal budget than listed (1.5k/yr less) but not savings/parental contribution (which will most likely be more than 1.5k/yr) or any future SA earnings. (FWIW, if I'm not in a position to get a 2L SA I would probably drop out after 1L unless I found a passion for PI or something.) I think this a very conservative estimate, but I don't want to delude myself into thinking it's not a likely outcome.

I am not convinced that I should take on this much debt, but I don't know if UT will negotiate with me yet.

Other options include WUSTL at a significant discount, Vandy at SLIGHTLY higher total COA, UH (would still be about 100k COA), and am waitlisted at Penn, Duke, and Virginia. I declined NU w/ 45k total scholarship. FWIW, I did not apply to SMU because I do not want to work in Dallas and with my GPA I would not be eligible for a full ride.

[ManoftheHour]

It's not awful, but it's not good. How much better is the WUSTL offer? I might go with that if it's significant.

[shifty_eyed]

It's not awful, but it's not good. How much better is the WUSTL offer? I might go with that if it's significant.

Right now it's at 128k, but I am hoping to lower COA to 100k if they ever get back to me (and have reason to think they would based on other scholarship offers negotiated this cycle). If they don't, it's off the table.

[bk1]

I think UT for 130k is not bad. I don't see how WUSTL can even compete unless we're talking sub 75k, imo. Even then it doesn't really match up with your goal of wanting to be in Houston.

You've essentially limited yourself to 1-2 biglaw markets (Houston, maybe Austin but that's tiny and tough to get) which is generally a poor idea to start off with. If you really want biglaw I would open yourself up to other markets (ideally Dallas/NYC). I also think biglaw isn't necessary for 130k debt. Though 130k debt is going to be rough on a 50k/year salary, I think it is at least conceivable that you can pay off that debt in ~10 years on that salary.

The dropping out plan, while a good place to start, really needs some more thought. What are you going to do after you drop out? When will you drop out? If you stick it out through OCI that means you will have already sunk 3 semesters in so you'd be around 60k debt. If you decided to drop out after 1L grades (either first or second semester), you'd save money. But what grades level would cause you to drop out? Median? Below median? You really should flesh this out before deciding to attend. That said, I don't think 130k overall debt really mandates you considering dropping out of things go poorly.

[shifty_eyed]

I think UT for 130k is not bad. I don't see how WUSTL can even compete unless we're talking sub 75k, imo. Even then it doesn't really match up with your goal of wanting to be in Houston.

You've essentially limited yourself to 1-2 biglaw markets (Houston, maybe Austin but that's tiny and tough to get) which is generally a poor idea to start off with. If you really want biglaw I would open yourself up to other markets (ideally Dallas/NYC). I also think biglaw isn't necessary for 130k debt. Though 130k debt is going to be rough on a 50k/year salary, I think it is at least conceivable that you can pay off that debt in ~10 years on that salary.

The dropping out plan, while a good place to start, really needs some more thought. What are you going to do after you drop out? When will you drop out? If you stick it out through OCI that means you will have already sunk 3 semesters in so you'd be around 60k debt. If you decided to drop out after 1L grades (either first or second semester), you'd save money. But what grades level would cause you to drop out? Median? Below median? You really should flesh this out before deciding to attend. That said, I don't think 130k overall debt really mandates you considering dropping out of things go poorly.

I'd drop out if I am in the bottom quarter after 1L, or if I am below median and miserable. If I do drop out, I'd pursue healthcare administration, possibly getting a MHA. I've worked in that field for a couple years and I hate it, but I am reasonably competent at it and have connections.

WUSTL at 100k COA would mean I would be paying 6-10k/yr in tuition. I am not sure how to get that COA down to 75k unless I get a COL stipend or something.

Also, I would definitely be open to Dallas, it's just not a first choice.

Edit: I'd also LOVE anywhere in CA, but that doesn't seem likely (harder to get than TX biglaw w/out connections it seems?). NYC would be fine for a few years, but again I thought it might be harder to get from UT than TX biglaw.

[bk1]

WUSTL at 100k COA would mean I would be paying 6-10k/yr in tuition. I am not sure how to get that COA down to 75k unless I get a COL stipend or something.

I didn't mean to imply that you could. I was just setting it as a hypothetical since to me even a heavily discounted WUSTL doesn't make sense for your case.

[Ruxin1]

WUSTL at 100k COA would mean I would be paying 6-10k/yr in tuition. I am not sure how to get that COA down to 75k unless I get a COL stipend or something.

I didn't mean to imply that you could. I was just setting it as a hypothetical since to me even a heavily discounted WUSTL doesn't make sense for your case.

Shouldn't she just go to NU since she said she'd drop out if she didnt get biglaw?

[bk1]

Shouldn't she just go to NU since she said she'd drop out if she didnt get biglaw?

NU is about 100k more than UT in this instance. Coupled with that price difference, I don't think NU makes sense for someone who primarily wants TX.

[shifty_eyed]

WUSTL at 100k COA would mean I would be paying 6-10k/yr in tuition. I am not sure how to get that COA down to 75k unless I get a COL stipend or something.

I didn't mean to imply that you could. I was just setting it as a hypothetical since to me even a heavily discounted WUSTL doesn't make sense for your case.

Shouldn't she just go to NU since she said she'd drop out if she didnt get biglaw?

I already withdrew from NU (4/12 deposit deadline) because I really don't want that much debt, even if I do get biglaw. NU would cost slightly over 100k more.