Top Law Schools

Hello everyone,

I am currently working as an education consultant, and I am saving approximately $1200 USD/month while working. Next year, my salary will increase a little, so I will start saving approximately $1750/month (maybe a little more). However, the cost of attendance within the T14 keeps going up. Should I apply next cycle, or attempt to save for another two or three years? Will the rising costs of law school invalidate my saving efforts?

I had a low undergraduate GPA (3.42), but I have been working for two years. That said, I am not expecting any big scholarships coming my way, even if I score a 173+ on my LSAT (currently PTing 172-174). The most I could reasonably expect would probably be 120,000 if I applied ED to Northwestern and got accepted.

Edit: It's worth noting I already have about $25,000 saved, and if I apply next cycle and continue working, I will likely have about $45,000 in time for law school.

enz2103 wrote:Hello everyone,

I am currently working as an education consultant, and I am saving approximately $1200 USD/month while working. Next year, my salary will increase a little, so I will start saving approximately $1750/month (maybe a little more). However, the cost of attendance within the T14 keeps going up. Should I apply next cycle, or attempt to save for another two or three years? Will the rising costs of law school invalidate my saving efforts?

I had a low undergraduate GPA (3.42), but I have been working for two years. That said, I am not expecting any big scholarships coming my way, even if I score a 173+ on my LSAT (currently PTing 172-174). The most I could reasonably expect would probably be 120,000 if I applied ED to Northwestern and got accepted.

Edit: It's worth noting I already have about $25,000 saved, and if I apply next cycle and continue working, I will likely have about $45,000 in time for law school.

I’m not sure how to advise you. Your salary seems to be increasing. One thing for sure though, law school costs are going up every year. My recollection is that they increased even during the recession and the following application slowdown.

I think big law salaries going up are the reason applications have been increasing again. The profession of law and biglaw haven’t changed much in the past 19 years.

It's tough to say. How much do you enjoy your current job? What kind(s) of jobs do you want to target after law school?

I think you should probably sit down with a financial adviser or other professional, and calc out the expected loan interest savings from waiting a year (factoring in an estimated increase in law school tuition - look up tuition increases over the past three years, which should allow you to extrapolate). Factor that against how much more you expect to make per year as a lawyer vs. an education consultant.

My advice off the top of my head: Take the LSAT first, so at least you know whether you need to prep for a retake. Once you're actually all set to apply next cycle, then decide whether to pull the trigger.

QContinuum wrote:It's tough to say. How much do you enjoy your current job? What kind(s) of jobs do you want to target after law school?

I think you should probably sit down with a financial adviser or other professional, and calc out the expected loan interest savings from waiting a year (factoring in an estimated increase in law school tuition - look up tuition increases over the past three years, which should allow you to extrapolate). Factor that against how much more you expect to make per year as a lawyer vs. an education consultant.

My advice off the top of my head: Take the LSAT first, so at least you know whether you need to prep for a retake. Once you're actually all set to apply next cycle, then decide whether to pull the trigger.

This is excellent advice. Thank you!

I enjoy my work. However, it's lacking in challenges, and there's no upwards mobility. My pay increases annually by around $3000, but it caps around 56,000 USD (still really high for China), and there aren't any exit opportunities. The closest opportunity would be becoming an international school college consultant (same pay, similar hours, better benefits). That said, I have no interest in doing this forever--maybe in retirement.

Any advice on finding out the annual changes in different schools' costs of attendance for the past few years? I'm a little stuck there. After law school, my objective is either a large or mid-size firm to pay back debt, and then working either at the state or federal level.

Law school transparency shows the cost increases for every school - at least the average predicted increase.

Just asking because you are in China - are you entitled to take out US loans? Not to be rude but they aren’t available to international students.

Npret wrote:Law school transparency shows the cost increases for every school - at least the average predicted increase.

Just asking because you are in China - are you entitled to take out US loans? Not to be rude but they aren’t available to international students.

I'm not an international student. I'm originally from NY, but I'm working in China temporarily because I want to work and simultaneously improve my Chinese.

enz2103 wrote:

Npret wrote:Law school transparency shows the cost increases for every school - at least the average predicted increase.

Just asking because you are in China - are you entitled to take out US loans? Not to be rude but they aren’t available to international students.

I'm not an international student. I'm originally from NY, but I'm working in China temporarily because I want to work and simultaneously improve my Chinese.

That sounds like a very smart idea. If you have trouble finding the cost increases on law school transparency, or have other questions, just ask.

Npret wrote: That sounds like a very smart idea. If you have trouble finding the cost increases on law school transparency, or have other questions, just ask.

I just finished looking at the numbers. The average increase was about +30,000 for every school within the T14 over the past three years. However, these past three years also saw unprecedented jumps in Big Law salaries.

Is there any way of knowing how law school costs change while Big Law salaries remain constant? That would probably offer a better prediction of the future assuming Big Law salaries don't continue rising. Thank you in advance!

enz2103 wrote:

Npret wrote: That sounds like a very smart idea. If you have trouble finding the cost increases on law school transparency, or have other questions, just ask.

I just finished looking at the numbers. The average increase was about +30,000 for every school within the T14 over the past three years. However, these past three years also saw unprecedented jumps in Big Law salaries.

Is there any way of knowing how law school costs change while Big Law salaries remain constant? That would probably offer a better prediction of the future assuming Big Law salaries don't continue rising. Thank you in advance!

If history is any guide, you can expect law school tuition to increase steadily every year. You should not expect BigLaw salary to continue increasing steadily. Remember that BigLaw salary held at $160k for about a decade before moving to $180k. Also understand that many firms (and clients) view $200k as an eye-popping number they are reluctant to reach - and doubly so given the prospect of another recession around the corner. I'd expect starting salary to hold at $190k for the foreseeable future.

QContinuum wrote:If history is any guide, you can expect law school tuition to increase steadily every year. You should not expect BigLaw salary to continue increasing steadily. Remember that BigLaw salary held at $160k for about a decade before moving to $180k. Also understand that many firms (and clients) view $200k as an eye-popping number they are reluctant to reach - and doubly so given the prospect of another recession around the corner. I'd expect starting salary to hold at $190k for the foreseeable future.

So law school costs increased steadily even during that period where salaries remained constant, correct? The website only demonstrated recent information, and the other information I found was spotty at best.

If law school costs are going to continue rising, I'll probably just try applying immediately after I receive my LSAT score, assuming it's strong enough to put my dream schools within reach.