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I ask because by the looks of it, I should graduate with a 3.4. But I can take a few classes each intersession and graduate on time with a 3.5. The only issue is that it will use up time that could be spent either studying for the LSAT or working. I'm an URM and want to know if the additional time spent on receiving the 3.5 as opposed to the 3.4 would be a valuable investment or not.

Play around with mylsn.com but I doubt there will be much of a difference as you will be below median at most schools worth attending.

The LSAT would be a better investment if it was a sum zero game but it's not. You should be able to do both.

If it makes a difference, I will most likely be applying to the top 14 (bar Yale, Stanford, maybe a few others) and throw some apps at USC/UCLA, UCI, Davis, San Diego, Fordham, etc.

I think being over 3.5 is a decent marker to some schools. Not quite a floor, but it makes you look a bit better. However, if you can nail the LSAT, it doesn't really matter. URM with an over 3.0 GPA and 170 LSAT are... quite sought after.

Kill it

I missed the URM part- my point still stands viz. the difference between 3.4 and 3.5 (although it may be seen as a benchmark) but you are, no matter what, in good shape for the t14.

I think there is a 3.5 bright line/floor/whatever you want to call it. It's worth working to make sure you reach it. If you need to, you can always take the LSAT later when you have more time to devote to study.

3.5 used to be a pretty good threshold to cross for Columbia but it looks like in light of plummeting applications that they have relaxed that considerably. It is still too low for HYS.

Where it does seem to help you significantly is at Chicago.
The Mylsn searches I ran (looking at the last 3 years) were:
3.4-3.49 GPA/ 172-180 LSAT - 1 Admit, 9 WL, 4 Rejections
3.5-3.55 GPA/ 172-180 LSAT - 12 Admit, 9 WL, 3 Rejections

So that's pretty strong evidence of that being a good line to cross. I'm very biased, but I think having Chicago as an option is definitely worth doing some work on your GPA, so it seems to me like the intersession courses are worth it. Also if apps go back up, schools might start raising GPA floors again, you never know.

People with a similar LSAT to mine and a GPA above 3.5 seemed to get an automatic 50k from NYU when I applied, but I got nothing as a 3.49. Don't know if this is still the case and it's probably not going to matter for a URM, but it's something to consider.

I don't think the threshold is meaningful anymore. Both are too low for HYS and CCN dug as deep as 3.2 (maybe further) in the 2013 cycle.

For what it's worth, 3.5 is still a nearly universal hard floor for UG finance recruiting in NYC.