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So I got into some T14s with some scholarships and I was pretty set on a school. I got skittish about the debt and, at the last minute, accepted a scholarship at a T20 school. After taking a look at the job statistics again, I'm really regretting my decision. What are the consequences of backing out of an LOI? I know that LSAC will slap that information on your CAS report, but I don't know how that will affect my chances if I reapply in a subsequent cycle. Also, I really do not want to begin my legal career by violating an obligation.

The tuition is sufficiently cheap that I could attend for a year and I wouldn't be in financial trouble; so, if i eat dirt during my first year I could drop out and be fine. Also, my undergrad degree is really employable. If I do not do well and go into industry for a few years, will this make me unable of ever getting into a T14 in the future?

Then there's the possibility of a transfer. The problem here is that if I am able to transfer, that would probably mean that I would be employable with the school that I committed to. If I do not have a GPA that would be employable, then I probably can't transfer. So I don't really view transferring as a viable option.

Any advice for a student who really messed up? Thanks.