When to go LRAP or when to take the money and run Forum

[LaudSAT]

Hey so this is a cross post from ¨Choosing a Law School¨, because I have received very little feed back from the board over there and thought maybe it was because the topic has a little bit more to do with financial aid.

Seeing as this is a cross post i took out a lot of detail. If you are curious about more details about my specific scenario read here:

http://www.top-law-schools.com/forums/v ... 1&t=285487

Basically, I want to know where you all would draw the line with taking a full scholarship over taking advantage of LRAP at a T10 for someone 100% interested in a PI track.

I see the 3 big downfalls of LRAP being:

1. PSLF getting canceled
2. Not getting LRAP elegible employment
3. Less flexibility in employment opportunities

The biggest concern nowadays with law school in general is obviously employment. This is where I feel the T10 school is the safer choice, even with sticker price, if one is committed to LRAP as it can be seen as a back door scholarship with pretty high security of getting a job. Also, most T10 schools would simply go back to their old LRAPs if PSLF were cancelled and we weren’t somehow grandfathered in to the program, so that also becomes less of a concern.

So the question is at what point would you say these benefits are outweighed by the freedom that comes from full tuition scholarships? Obviously you don’t want to attend a TTT but let’s say something like BU or UW’s Gates Scholarship? Do you take the money and accept the fact your employment opportunities will be less than at a T10 or do you go T10 and just count on LRAP?

Thanks in advanced

[CFC1524]

Basically, I want to know where you all would draw the line with taking a full scholarship over taking advantage of LRAP at a T10 for someone 100% interested in a PI track.

Not to fight the question, but this strikes me as a bit of a false choice i.e. why pick between a T14 at sticker and a lower school at a discount when you can pick between HYS at full price and a lower T14 with a significant scholarship. Unless you are GPA-blocked from getting big money from the top schools, there is no reason to force yourself into the (rather difficult) choice you poised above.

Some PI-specific benefits about the T14: significantly higher clerkship numbers (which can be a great bridge into the non-profit world); LRAP programs that cover payments until PSLF kicks in and wipes away any remaining debt; guaranteed funding for unpaid summer internships; unrestricted access to clinical programs (this is a big one - entry-level PI positions require experience, and applicants can go a long way in distinguishing themselves if they have 4 semesters worth of litigation in a relevant clinic); and school-sponsored fellowship programs (which are key, as the applicant pool is much, much smaller than Skadden / EJW).

This varies a bit depending on the school, but I would be more willing to take a full scholarship at a lower ranked school if (1) I had prior work experience in PI; (2) the school was located in the region where I wanted to practice; and (3) the school had at least a few of the factors I listed above.

Do you have offers on the table, or are you just thinking through the issues in preparation for next year's cycle? (Sorry, I didn't read the other thread you linked to).

[LaudSAT]

Basically, I want to know where you all would draw the line with taking a full scholarship over taking advantage of LRAP at a T10 for someone 100% interested in a PI track.

Not to fight the question, but this strikes me as a bit of a false choice i.e. why pick between a T14 at sticker and a lower school at a discount when you can pick between HYS at full price and a lower T14 with a significant scholarship. Unless you are GPA-blocked from getting big money from the top schools, there is no reason to force yourself into the (rather difficult) choice you poised above.

Some PI-specific benefits about the T14: significantly higher clerkship numbers (which can be a great bridge into the non-profit world); LRAP programs that cover payments until PSLF kicks in and wipes away any remaining debt; guaranteed funding for unpaid summer internships; unrestricted access to clinical programs (this is a big one - entry-level PI positions require experience, and applicants can go a long way in distinguishing themselves if they have 4 semesters worth of litigation in a relevant clinic); and school-sponsored fellowship programs (which are key, as the applicant pool is much, much smaller than Skadden / EJW).

This varies a bit depending on the school, but I would be more willing to take a full scholarship at a lower ranked school if (1) I had prior work experience in PI; (2) the school was located in the region where I wanted to practice; and (3) the school had at least a few of the factors I listed above.

Do you have offers on the table, or are you just thinking through the issues in preparation for next year's cycle? (Sorry, I didn't read the other thread you linked to).

Hey thanks for the reply. I do have offers on the table. I am also gpa blocked, I got 99th percentile on LSAT so a retake won’t really do much for me.

My offers are
Penn ( no money; 300k COA)- see other thread for more details on why this is currently my preference, but it’s my home city and has strongest LRAP
Michigan (45k; 220k COA)
GULC (no money; 330k COA)
UT (15k and in state tuition; 150k COA)
GW (105k; 180k COA)
Miami (155k; 75k COA)

I plan on using loans to find entire education.
Also the other thread has a lot more detail on mundo thought process if you feel like checking it out.