SMU (30% scholly) v. No LS Forum

[wlss9493]

I was accepted to SMU with a 30% scholly. This is my only choice for law school as my hubby has already committed to attending medical school in Dallas. I have very few ties in Dallas but have modest legal career aspirations (local gov't or PI non-profit). COA would be about $150k, which I know is high but my husband has the potential to make some decent money once he graduates medical school. I like the Dallas area and could see myself staying there long term but I am not sure if law school is worth that much debt. My other option would be to get a full time job however, like I said, I have very few ties to the Dallas area so it would probably take me a while to find a job plus I have done some job searching and have yet to find a job that interests me and doesn't require a J.D. or 10+ of years of experience. I know a lot of people will say to retake the LSAT and try to get a bigger scholly, but I would have to take a year off to do that. I know myself, and if I took a year off and I would never go back to school.

[twenty]

Your husband will also have significant med school debt, and as it turns out, won't be making a lot of money until he finishes his residency. Sit out a year and retake. If you don't go, don't go, and that's cool too.

[thetravelinglawyer]

My understanding (could be wrong) is that after med school doctors can end up anywhere for their residency and aren't likely to stay in the same area they went to school in. SMU is for the most part a law school for those who want to practice in Dallas. The benefits of going there drop quite a bit outside of DFW and disappear outside of Texas. So you need to chat with your spouse and determine what the likelihood of them even being able to stay in Dallas for their residency is.

I would say if law school interests you so little that taking a year off to improve your LSAT score means you would just give up and not go to law school at all, you probably just shouldn't go. Especially not for 100k tuition and 150k COA and no guarantee you will be in Dallas.

[jrass]

The best financial move would be to study for the LSAT until he gets his residency, get a 180 and then file for divorce so the med school degree can be marital property. Then you'd have alimony payments of around 50k/year coming in to cover your Yale tuition.

[wlss9493]

Yeah, he wouldn't be making money until after residency so that is 6+ years down the road. There is a good chance he would stay in Texas, possibly even Dallas, for residency though because he wants to specialize in something very specific and there are not very many residency programs for what he wants to do. Texas has the most opportunities of any state (that we could see ourselves living in) for what he wants to specialize in.

I wouldn't say law school interests me that little (its been my goal for the past two years), its just if I took a year off I would have to work FT and probably wouldn't quit after having a steady stream of cash flow for a year. Not because I am not interested but because I would be afraid to give up the stability.

Thanks for the advice everyone . I'd love to hear more thoughts.

[A@M_or_bust]

Yeah, that is just an indefensible price for SMU. I would suggest you study like hell for the LSAT in June (you have plenty of time until then) and see what kind of increase you get and analyze your options from there. Also, SMU may consider your increased June LSAT score and increase your scholarship. In my opinion, you need to receive AT LEAST a 30k per year scholarship from SMU to even consider it.

[Mullens]

Since med school is four years and law school is three years, you can sit out a year and retake and finish school at the same time as your husband. This gives you more flexibility if your husband takes a residency somewhere else. You're already going to have a massive pile of combined debt and sitting out a year could save you $100k+ which means paying off your combined loans years earlier. It's a smarter financial decision to retake and wait. Also, you might find a job you really like and decide that any law school debt isn't worth it.

[kalvano]

What does 30% equal out to in dollars? The max SMU gives is $30,000 without top 1/3 stips.

[krads153]

- You should only go to SMU if it were free.
- Your husband is going to have a ton of loans and won't make money for like 8 years.
- The average doctor only makes 150-200k or so, not that much money to service two massive student loans. I mean yeah if your husband becomes a brain surgeon you'll be fine, but he's probably going to be IM/family med or whatever.
- So no law school is the only option here.

[p1921]

My understanding (could be wrong) is that after med school doctors can end up anywhere for their residency and aren't likely to stay in the same area they went to school in. SMU is for the most part a law school for those who want to practice in Dallas. The benefits of going there drop quite a bit outside of DFW and disappear outside of Texas. So you need to chat with your spouse and determine what the likelihood of them even being able to stay in Dallas for their residency is.

This is absolutely right. 1L at SMU here, and I wouldn't attend on 30% - debt would be too high. Good school, professors are solid, but the $150k you're talking about is way too high. Also, just because your husband wants to do a residency in Texas certainly doesn't guarantee he'll get the one he wants, and even if he does it doesn't guarantee he'll get one around Dallas. Outside of Dallas, SMU's ties get pretty weak relative to UT and UH.

tl;dr going to SMU basically gambles that you and your husband can 1. both get jobs to pay off the mountain of debt you'll incur 2. he gets his residency in Dallas AND you get a job in Dallas.

what is your background? Maybe look into an MBA or something, or get a job. Even if it's going to take you awhile to find a job like you say, it'll be shorter than taking the LSAT again and waiting until next year to matriculate.