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Author Topic: What do you think?  (Read 2370 times)

mason123

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Re: What do you think?
« Reply #50 on: February 19, 2008, 12:51:45 AM »
Covered pretty thoroughly by previous posters? GunnerDore the statistics that have been presented in this thread tell us a very limited story. We do not know anything about the scholarship awards the OP can get, other than assuming based on historical data. This can change, and the law school may consider the OP to be a special case. We do not know. My advice is simply to send in the applications, and see what the mailman brings. Until we get acceptance letters and the subsequent scholarship offers, none of you can make any serious predictions because anyone's cycle can be quite unpredictable.

I understand if the OP had responses already, but I infer that there are none at this point. Before giving advice on moving on, wait for the OP to be rejected first.

CoupDeGlace

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Re: What do you think?
« Reply #51 on: February 19, 2008, 12:51:54 AM »
Assume a cost of living of $22,000 beyond tuition for all these schools. This includes food, apartment, insurance, car stuff, child care, books, etc for two people- as OP has a child. I actually think this number is low, but it can serve it's purpose anyhow.

Charleston: $30,000
Samford: $28,000
Louisville: $26,000 (OOS)
Memphis: $31,000 (OOS)
Stetson: $29,000
South Carolina: $33,000 (OOS)
Mercer: $32,000

Those are tuition figures for the class of 2010. It will be assuredly higher for the class of 2011.

This puts the COA at anywhere from $48,000 to $55,000. His suggestion of $150,000 in debt was not absurd.

But let's assume that the OP manages half tuition at one of these schools. That's still over $100,000 in debt.

"A good rule of thumb is that your total education debt should be less than your expected starting salary. If you borrow more than twice your expected starting salary you will find it extremely difficult to repay the debt."
http://www.finaid.org/calculators/scripts/loanpayments.cgi


If OP does have a fantastic, guaranteed scholarship at one of these schools…then the OP is still borrowing more than twice the expected starting salary (lawyer salaries are bi-modal…botbot can give his spiel on this if he'd like). This quote also assumes no dependents.

Indeed, I agree with you, and not just because you too have a punny French-based username.  ;)

It's an extreme uphill battle. The benefits if the OP had gotten a much higher LSAT would have been, even if they chose a lower ranked school, would be they'd be likely getting a full ride or close to it at these lower ranked schools. (I'm assuming OP is a she, but OP could be a he... I'll just use the plural instead)

Waiting another year at this point would not be catastrophic; if you managed to study hard and get a great LSAT score, you would be in a WHOLE new ballpark. Nothing that the others haven't said already, of course.

Again, there may be a surprise and by some chance you might indeed get a big scholarship from one of the better schools. This is statistically unlikely, and I'm sure OP knows that. If law schools were charities, this would be a case worthy of a full ride. They aren't, however. But the world won't stop turning if it doesn't pan out. Maybe this is just a sign it's not for you, or not right for this particular time. In any case, I am interested in seeing how things do pan out for you, so best of luck for you and your child.  :)



UF 2011

JeNeSaisLaw

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Re: What do you think?
« Reply #52 on: February 19, 2008, 12:55:57 AM »
I love it when my punnyness goes appreciated.
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mason123

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Re: What do you think?
« Reply #53 on: February 19, 2008, 12:56:36 AM »
As I suggested before, I would analyze the responses and any subsequent scholarship offers and weigh my options. But until you get those scholarship notices, and acceptances, do not reject yourself - it is unreasonable. Do not act until you have all the necessary information in front of you.

All these calculations mean nothing ultimately, not until you have the real numbers to add up. They are cute, they make dire situations seem more dire.

This is not poker. You do not have to guess what your adversary has in his hand. The law schools will let you know how bad they want you with a scholarship - they will show you their cards, but be patient.

I feel like a fortune cookie.

BurtsBees

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Re: What do you think?
« Reply #54 on: February 19, 2008, 01:11:39 AM »
I just want to point out the it is unfair to include the 20k non-tuition expenses since those will have to spent regardless of whether OP wants to attend law school.  However, you should also include forgone salary as an expense since the OP would be earning that if he/she does not attend law school.  Therefore, these EV equations should be a lot higher, especially if OP is making 40k a year.

Than it would be a 210k investment for three years. 

OFFMason, even with a full scholarship, you have been ignoring opportunity cost.

botbot

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Re: What do you think?
« Reply #55 on: February 19, 2008, 01:13:52 AM »
He isn't going to stop ignoring it, probably time to move on.

boilerguy84

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Re: What do you think?
« Reply #56 on: February 19, 2008, 01:15:50 AM »
Just thought I'd try to get some feedback. I have been reading some of your posts on here, and I am beginning to think I am crazy... I've check LSN and the thing on LSAC.. Still not convinced.

LSAT: 149
UGPA: 3.1

Applied to:

Charleston
Samford
Louisville
Memphis
Stetson
South Carolina
Mercer

What do you think my chances are? I am a single parent, but that's about all I have to go on, as far as soft factors. Hopefully my PS will be able to explain away a few things...

if it's something you really want to do...go for it! this is one of the most pretentious groups of people you will find online. so take what they say fwiw ("what? you don't have a 170? you should just become a janitor!") you should try to raise your LSAT, though. if you really want to be a lawyer, it's worth a shot. but if you aren't sure, then i would hold off and really think about it. it's a HUGE investment. you have to be certain it's what you want. good luck!
"read a book."
Depaul '11

JeNeSaisLaw

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Re: What do you think?
« Reply #57 on: February 19, 2008, 01:16:57 AM »
Moisy: I was inclined to include the $22k because that money would have to come from somewhere and eventually have to be paid down. It's essentially the same as including foregone salary, as that $22k (minus a few grand) is a paid for by salary.
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Vanderbilt Class of 2011

mason123

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Re: What do you think?
« Reply #58 on: February 19, 2008, 01:28:37 AM »
Gawsh I do wonder this little tidbit. Since we are not aware of OP's state of origin, we do not know of the financial benefits she receives from the state/federal government. We are also unaware of the child support being provided by the baby's other parent. We are also unaware of any other close family support. We are unaware of the salary the OP currently earns. We are not aware of the savings the OP currently possesses.

Ultimately, you should keep your adorable calculations to yourselves before we are in possession of more relevant data.

With that said, we are also not sure of the area of law the OP is interested in practicing. We are also not sure of the area where the OP would like to practice. These are important issues that should be resolved before you go off demonstrating your accounting skills.

The potential for success and profit is very difficult to near impossible to calculate at this point. Try again.

I return to my main point. Do not offer advice before you see the big picture. The end.

With Obama's words, I say that the audacity of hope should not be killed here.

GunnerDore

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Re: What do you think?
« Reply #59 on: February 19, 2008, 01:36:17 AM »
Gawsh I do wonder this little tidbit. Since we are not aware of OP's state of origin, we do not know of the financial benefits she receives from the state/federal government. We are also unaware of the child support being provided by the baby's other parent. We are also unaware of any other close family support. We are unaware of the salary the OP currently earns. We are not aware of the savings the OP currently possess.

Ultimately, you should keep your adorable calculations to yourselves before we are in possession of more relevant data.

With that said, we are also not sure of the area of law the OP is interested in practicing. We are also not sure of the area where the OP would like to practice. These are important issues that should be resolved before you go off demonstrating your accounting skills.

The potential for success and profit is very difficult to near impossible to calculate at this point. Try again.

I return to my main point. Do not offer advice before you see the big picture. The end.

Let's say I've cropped an image of the Mona Lisa down to just a rectangle around its smile.

I then present you with this smile image and tell you that it is from a larger painting. Are you seriously going to tell me that there's a chance that the image does not come from the Mona Lisa?

For the sake of the analogy, let's assume that if the cropped image were drawn from Marcel Duchamp's LHOOQ, then the mustache would be visible.

Edit: I would ordinarily find your remarks about the "cuteness" and "adorableness" of my calculations highly patronizing. I will assume this is flattery, however, as my calculations are an 8.8 on Hot or Not. In fact, they are going to the gym in 26 minutes!