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Messages - iamprov

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Estimate at Albany:

Tuitionx 3:  114,000
COL x 3: 45K

A cool 160K...for a ten-year loan, that's about 2200 bucks a month in payments.

Anyone else completely horrified about their debt prospects?

you're right to be afraid of such massive debt coming out of a tier 3 law school. Not to sound like an arrogant jackass but to give you my honest opinion- you should really consider your employment prospects in conjuction with the massive debt you'll be getting into. Looking at albany the median salary is only 48K! Use this site to calculate your loan payments: Your monthly payment will be 1,800 dollars and to quote this site  "It is estimated that you will need an annual salary of at least $220,954.80 to be able to afford to repay this loan...If you use 15% of your gross monthly income to repay the loan, you will need an annual salary of only $147,303.20 , but you may experience some financial difficulty". Anyhow, let's say that these numbers are too high- you'd still need about 100K to comfortably pay off those loans. For instance if you pay your loans over 30 years you're still looking at a  monthly payment of 1,000 and you'd need about 80 K a year to sustain yourself comfortably. Will your law degree from albany give you such an opportunity? Perhaps. I'm sure there have been a selected few who excelled at their jobs and managed to get into biglaw. But it is an uphill battle and the odds are greatly against you.
Furthermore i'd like to add that I'm against the whole "i want to be a lawyer and i dont care what school i go to... it's my dream". Personally i view such "dreams" as immature. Law is not fun and is definately not glamorous. Remember that law school is a means to an end and not an end in itself.

Most people use far more than 15% of their income to pay off their student loans.  If you make 60K (and no offense, but I think I just MAY get above "the median") out of law school, that means you gross $1200 a week.  After taxes you're looking at $780, give or take.  That's $3120 a month.  With a twenty year monthly payment of $1500, that leaves you with $1620, or $405 a week.

Yes, that's incredibly rough at first.  You won't be able to live in NYC for sure, not unless you're married, or with a signifigant other.  But it CAN be done, and it CAN work itself out.  I know many lawyers who do just fine having gone to tier 3 or 4 schools.  But if you wish to believe ALL the hype you're fed, be my guest.

Per your other comments: yes, I know that law is not always fun or glamorous.  And no, i  don't have this generic "dream" of wanting to be a lawyer.  My reasons for entering the field are my own, as are yours.  As for school rank, where's your cutoff?  Is Villanova an acceptable 150K risk, but St. John's isn't, simply because they're separated by a few points on the good ol' US News rankings?


do your choices not have decent lraps?

Only the t10 has decent lraps I thought...

Albany's is fairly decent; up to 10K a year for first three years.  actually, I'm not too sure how decent it is, since I haven't really compared it to other schools.  I've hears Rutgers Newark's is impressive.

Are interest rates really that bad? 2200 a month for 10 years is 264,000... That seems exorbitantly high to pay 104k interest on 160k loans.

Those are the numbers that the financial aid director at ALS gave me.  Over twenty, it works out to roughly 1500 a month.  Total: 360 K.


Think of it as playing the lotto... and if you win, you get to work 80 hours a week for the rest of your life! Yay, law!  :'(

And to think that I wanted to go into public interest and help improve people's lives...silly me. :-[

Choosing the Right Law School / anybody else as scared of debt as me?
« on: March 20, 2007, 02:23:37 PM »
Estimate at Albany:

Tuitionx 3:  114,000
COL x 3: 45K

A cool 160K...for a ten-year loan, that's about 2200 bucks a month in payments.

Anyone else completely horrified about their debt prospects?

Choosing the Right Law School / Re: Suffolk vs. NESL vs. Quinnipiac
« on: March 13, 2007, 12:50:49 PM »
Regarding NESL, I think that Suffolk is a better school (probably the most underrated law school in New england, actually) and if the OP gets into Suffolk, then that's that.  Having said that, I have several friends that went to NESL and have successful careers in law, two of which are in General Practice.  I think you'll probably never be on the Supreme Court, but you do learn to be a good lawyer.  All what you put into it.

Choosing the Right Law School / Re: Suffolk vs. NESL vs. Quinnipiac
« on: March 13, 2007, 12:00:55 PM »
I have gotten into NESL and Quinnipiac.  I am going to pick Suffolk if I get in.  They certainly take their time reviewing apps.  If I don't get into Suffolk, I will be torn between Quinnipiac and NESL.  Quinnipiac is ranked higher however I want to work in Boston.  I have worked for Goodwin Procter and Mintz Levin as an IP paralegal over the past 3.5 years and have good connections in Boston.  Thoughts anyone?

Even Quinnipiac will place better in Boston than NESL. It's a no-contest.

With all due respect, I don't see how you can say that...NESL's inBoston...of course it will place better than Quinnipiac...just because it's the bottom feeder doesn't mean that hundreds, if not thousands of attorneys still work in the region.


I'll right everyone, it'll be out soon enough but I thought I'd give a little taste of what's to come. Very little movement between the T-14s. Two schools though made big jumps this year. The first one, Kansas, wasn't that much of a surprise. Call it a market correction as KU went from 70 to 58. The other, however, made the jump from mid 40's to 27 (huge median LSAT jump and one key facutly hire).  Funny thing is I did a search and almost nobody's even talking about it. People are gonna be really happy or really pissed off if.

Our official release is April 2nd but you'll be seeing it out there March 29th, maybe the 27th depending on which part of the country you live in.


A Kansas Troll? Honestly? Just kill yourself. HTH.

NB: Before killing self, learn how to spell faculty.

Look, I'm sure you get this, like, ALL THE TIME, so not to be redundant or anything, but you seem like a real a-hole.

I hear you...but I'm a firm believer in stirring the sleeping giant.  Fuckers.

Choosing the Right Law School / Re: Any questions about NYU...
« on: March 09, 2007, 12:37:39 PM »
Hello...I am probably entering Albany (or MAYBE St. John's or rutgers PT) next would be a dream to transfer over to NYU in my 2L.  Do you know of any folks who have been able to make that happen?

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