Is Notre Dame worth the 80k in debt Forum

[npchristian1985]

I served 9 years in the Marine Corps and the GI-Bill would cover IUPUI McKinney (Indianapolis) or IU Maurer (Bloomington) 100% (including cost of living). I would graduate with no debt.

I could go for Notre Dame but higher tuition costs would put me about 80k in debt when I graduate.

I keep reading that IU Bloomington and IUPUI (McKinney) employment prospects suck but I don't see the wisdom in going 80k in debt just to land a better job which than would be used to pay off the 80k in student loans.

General info:
GPA 3.7
LSAT 163.
Career goals: I would be perfectly happy working at a small to mid size firm making 40k. I would be extremely unhappy unemployed and trying to find document review for $10/hour. A 40k salary may not seem like much on these forums but when you consider no student loan monthly minimum payments it starts looking a lot better.

Any advise?

[BigZuck]

I would retake and go to ND for freesies or better yet a school like UVA.

[Dr.Zer0]

I would retake.

[McAvoy]

I would retake and go to ND for freesies or better yet a school like UVA.

This.

ND for 80K total debt isn't indefensible, but get your score maybe five points higher (totally attainable if you got a 163) and ND will be free next cycle, and you'll have many more attractive options. Definitely don't go to IUPUI, at any rate.

[twenty]

With a 3.7 GPA and the GI Bill, a few more points on the LSAT would give you the ability to ED somewhere and pick up a full ride with the GI Bill to do so. I'd imagine a 167-ish would get you into GULC or Cornell, and anything higher will only increase your opportunities.

In short, don't do Notre Dame. It's not a bad choice, but you really could do a lot better.

[npchristian1985]

Thanks everyone for your advise. I see that I have some more thinking to do and that I need to consider a retake. If I do retake the LSAT I'll have a little time to pay down some credit card debt before going.

Again thanks for taking the time to help. You didn't have to do that and I appreciate it.

[ScottRiqui]

With a 3.7 GPA and the GI Bill, a few more points on the LSAT would give you the ability to ED somewhere and pick up a full ride with the GI Bill to do so. I'd imagine a 167-ish would get you into GULC or Cornell, and anything higher will only increase your opportunities.

In short, don't do Notre Dame. It's not a bad choice, but you really could do a lot better.

Agree w/ all of this. Check out this spreadsheet - 19 of the T30 (including 11 of the T14) are completely tuition/fee free between the GI Bill and Yellow Ribbon Program.

Bump your LSAT just a few points and go somewhere that will give you much better prospects, for free.

[TheSpanishMain]

Just to illustrate why you should retake:

I have a higher LSAT than you (168) but a significantly lower GPA (3.3). Also a vet.

I was admitted to UVA, Northwestern, and Georgetown, plus strong regionals like Texas, WUSTL, Emory, UCLA, and Vanderbilt with money.
It's not that Notre Dame for 80 is bad, it's just that if you retake and add five points or so, and you'll be in a much better position.

[03152016]

I'm assuming you've factored in cost inflation, loan fees, interest, etc. That's $61,500 in Stafford, $18,500 in Perkins. On a ten year repayment plan, that's $665 and $209 monthly, $874 altogether.

Judging from the schools you're looking at, I'm guessing you want to practice in Indiana. Factoring in state and federal taxes, net pay on the $40k salary that you mentioned is $2,522 a month. So you're looking at $1,648 after loan payments monthly in your first year.

That's not outrageous, but it's a shade low for my comfort. I think students should generally borrow up to the amount they expect to earn in their first year after graduation. In other words, if you expect to earn $40k, try to borrow around $40k. With that figure your monthly payment is $432, meaning you have $2,090 after loan payments monthly in your first year. Now you have some breathing room when you want to save up for a car, go on a trip, or just eat out a little more often.