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Any knowledge on this? I know a grade or two from 1st semeter is not going to come back good (I'm pretty sure I have a C at best in one class) which was really my fault and am aiming for 3.5 or better this next semester but whats the general wisdom on this?

The reason I turned it down is because I got $$$ from a lower ranked school.
The school I am most seriously considering would be American U which I know isnt Yale or Georgetown for that matter. However, I do understand the advantages of going to school in DC and one which has the programs I am interested in despite less than stellar job prospects at an expensive sticker.
In regards to my current school I do not much interest in living in the city long term nor focusing on their strong programs and its T3 but strong regionally.

Any idea how this would go? Is there some type of boost or loosened standards if you were admitted to matriculate as a 1L and turned it down? Also as they are mainly around the T2-T3 level (along with Loyola and DePaul) what are the standards for transfers? Mainly on here I only hear about transferring into the T14 and this seems rather daunting. Im aiming for big markets where I know a few people and could potentially have a connection or two(not banking in the least).

They most likely won't view you in a different light as the other transfer students, as transfer students are evaluated along different metrics than regular applicants.

Law schools are trying to put together a class of people who will do well at their law school and afterwards. Before you start classes, the best way they feel they can do that is with the LSAT and GPA - together, it's the best metric they have for law school success. After you've already been in law school, the best metric for law school success is how you've done in law school so far.

I'll let others answer the other questions about transferring there, but you'll have to stand on your law school record to transfer, not the fact that you were admitted with a certain GPA/LSAT.

how do you know you did so poorly? did you just not do any work?