So, for starters, I am graduating from undergrad with 45k in direct federal loans. This makes my calculations on which school to attend quite a bit more difficult. Also I'm older than 25 but younger than 30.
Career goals and Considerations: Basically I don't know what I want yet. The idea of going into academia and doing research and being a law professor sounds amazing to me. I love research and I this is probably the best fit for me personality wise and such. However, if I really wanted academia then that means the obvious choice is UChicago and that comes with baggage (estimated 225k debt just for uchicago--calculated using this http://www.top-law-schools.com/forums/v ... 5&start=25). That also means I would be going onto UChicago's LRAP program (if PSLF still exists in 2023) which ONLY considers Uchicago's debt and not any undergrad debt. I'd have to pay on my undergrad debt on a public interest salary. The other main thing is that I plan on getting married probably the summer before 3L (long time girlfriend is not American and I grew up outside the US. We want to get married 1 year before graduating so we can get the paperwork in order for her to immigrate which can take up to a year). The prospect of her working in the US is still unknown. She has a clinical degree (dentistry) and she can't practice in the US. Also, her parents are pretty old and will probably come live with us within a few years after that. So supporting a 2-4 person household on a sub 80k (income limit for UChicago LRAP), and paying on undergrad debt, while doing unknown wtf during the first few years of academic career, sounds really hard.
The other option is either go to Uchicago anyways and go into Big Law to pay off the debt, but I don't know if I would last 10 years making near 4k monthly loan payments (according to lexis calc). Then the calculus becomes interesting between Northwestern and Cornell because I don't really know how to compare them. I don't want to work in NYC. I would much prefer either DC or Chicago or California. Chicago sounds nice for the CoL, DC sounds nice for career stuff and possibility of working in government (DOJ sounds really nice, but again if I went public interest I'd probably prefer academia; I am just interested in everything wtf). All I know is that I probably wouldn't last 10 years in BL because it would likely (from what I've read) be really hard on a marriage but maybe I'm misjudging it.
Current offers:
UChicago: 60k (20k/yr) -- could potentially negotiate to 75k (25k/yr) but the odds aren't great; I think negotiation to 90k (30/yr) is near impossible but is a non-zero probability.
Cornell: 120k (40k/yr) -- I don't think there is much room for negotiation as 40k/yr is already above their 75th grant award, but honestly I don't know much about Cornell at all so maybe I'm wrong.
I expect either 40, 50, or 60k /yr from Northwestern. I'd like to run through a few scenarios of differing scholarship offers and sort of hear peoples' opinion on them (if they change from scenario to scenario).
So for the scenarios, I'm gonna just assume that I'll try my best to get a BL job from wherever I go (because I'll either need it or I just want to do it for a few years for some money and experience). Unless someone can convince me that academia is doable and I go to Chicago.
** For all debt calculations, I assumed that I would have 20k from each summer before 2L and 3L to put towards cost of attendance
Scenario 1: Conservative Scenario
- Chicago: 60k; 225k Uchicago debt + ~55-60k (?) undergrad debt after interest (UG debt from now on)
- Northwestern: 120k; 170k debt + 55-60k UGdebt
- Cornell: 120k; 142k debt + 55-60k UGdebt
Scenario 2: Middle Scenario A
- Chicago: 60k; 225k Uchicago debt + ~55-60k UGdebt
- Northwestern: 150k; 134k debt + 55-60k UGdebt
- Cornell: 120k; 142k debt + 55-60k UGdebt
Scenario 3: Middle Scenario B
- Chicago: 60k; 225k Uchicago debt + ~55-60k UGdebt
- Northwestern: 180k; 94k debt + 55-60k UGdebt
- Cornell: 120k; 142k debt + 55-60k UGdebt
Scenario 4: Middle Scenario C
- Chicago: 75k; 207k Uchicago debt + ~55-60k UGdebt
- Northwestern: 150k; 134k debt + 55-60k UGdebt
- Cornell: 120k; 142k debt + 55-60k UGdebt
Scenario 5: Completely Unrealistic Scenario
- Chicago: 90k; 189k Uchicago debt + ~55-60k UGdebt
- Northwestern: 180k; 94k debt + 55-60k UGdebt
- Cornell: 120k; 142k debt + 55-60k UGdebt
Lastly, can someone tell me how to compare NU and Cornell? I mean, outside of their BL+FedClerk numbers which are extremely close. Can Cornell be negotiated up? Is 140k at Cornell better than 150k at NU?
I want UChicago more than anything, but I don't think it's doable--but wtf do I know I haven't worked in BL and I don't know how bad or not bad it will be. I'm a nerd and a super hard worker so maybe it won't be terrible. I just don't want to end up getting divorced after 7 years of working like an indentured servant, billing 2400 hrs a year.