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Author Topic: Higher ranked school with no money vs Lower ranked school with full ride  (Read 2667 times)

whitney4126

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Re: Higher ranked school with no money vs Lower ranked school with full ride
« Reply #10 on: February 27, 2008, 01:12:05 PM »
I'm in a similar dilemma, only not over schools that are as highly ranked as yours.  My first preference was a T2 school, which I was ecstatic to get accepted to.  Then, the school that applied to as a safety (a T4) offered me a full ride plus a guaranteed paid research assistantship my 2nd and 3rd years.  I just have to stay in good standing to keep the scholarship.  There is about a $90,000 difference in my loan debt at the two schools.
Next week I am scheduled to visit both of the schools and meet with the Deans.  Hopefully that will give me some clarity.
Right now, though, I am leaning toward the T4 school, because I doubt I will ever take a job to make enough money to pay off over $100,000 (after you add in my undergrad debt); I really just want to work in the public sector.  But, it is a tough decision with lots of factors to consider.  Ultimately, I think I will be okay no matter what decision I make.
I don't have any real advice, accept to visit the schools and talk with the Deans.  Make sure that you aren't still under consideration for any other funding.  I just wanted to say that I empathize with your decision, and its really a great dilemma to have!

pacific sands

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Re: Higher ranked school with no money vs Lower ranked school with full ride
« Reply #11 on: February 27, 2008, 01:29:45 PM »
I really think the answer to this question tends to depend on where you want to live. If you'd like to stay in California, which is a crowded and very competitive legal market, you may be best off with Davis. If you'd really like to go to the east coast, you're probably best off with American. If, on the other hand, geography isn't a determining factor for you and you think you can maintain a high GPA, UNLV may be your best bet.

All things considered, given that maintaining a top-third GPA is no sure bet and your in-state tuition at Davis (expensive in-state tuition though it may be), you may be most comfortable over the long term there.

Specks

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I don't understand the discussion about the in-state tuition of Davis. Is there a particular perk I'm not aware of to have in-state at Davis vs going to UNLV? As stated before, monetary wise UNLV will cost me 19500 for out of state, which for the second year gets lowered to 9800 a year after you change residency.  Whereas UC Davis costs 25000 in state. All of these figures are raw, without weighing in the scholarship I would be getting.

cisforcookie

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Oh what a rebel I am. I say forget the rankings in this case. Neither one of these schools has any national pull whatsoever, so decide whether you'd like to be scraping for a job in northern california or in nevada. Assume you won't keep the scholly at UNLV past year 1. The end.

nealric

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Quote
I'm in a similar dilemma, only not over schools that are as highly ranked as yours.  My first preference was a T2 school, which I was ecstatic to get accepted to.  Then, the school that applied to as a safety (a T4) offered me a full ride plus a guaranteed paid research assistantship my 2nd and 3rd years.  I just have to stay in good standing to keep the scholarship.  There is about a $90,000 difference in my loan debt at the two schools.
Next week I am scheduled to visit both of the schools and meet with the Deans.  Hopefully that will give me some clarity.
Right now, though, I am leaning toward the T4 school, because I doubt I will ever take a job to make enough money to pay off over $100,000 (after you add in my undergrad debt); I really just want to work in the public sector.  But, it is a tough decision with lots of factors to consider.  Ultimately, I think I will be okay no matter what decision I make.
I don't have any real advice, accept to visit the schools and talk with the Deans.  Make sure that you aren't still under consideration for any other funding.  I just wanted to say that I empathize with your decision, and its really a great dilemma to have!

I would say take the deal at the T4. If you want to work in the public sector that makes it even stronger.
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AmazingGrace

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Like I tell most ppl who are thinking about law school...you should go into it imagining the worst case scenario and seeing if you can handle that scenario.  A lot of ppl on this board make decisions based on the best case scenario (i.e. being at the top of the class, working at a large firm, making 6 figures etc.) Sallie Mae is REAL and she comes calling every month. If the worst case scenario is...you lose your scholarship (very possible) and you have to pay full price for the schools you thought would be free...would you still be happy with your choice? Are your job prospects dim? How does that scenario compare with paying full price at the better school?

Be deliberate about these worst case scenarios...think about them and really weigh your options that way because you can always do better than the worst case scenario.  However, you have no where to go but down if you make decisions based on the best case scenario.

UnbiasedObserver

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Another vote for Davis.

Many schools set up those scholarships so they are even harder to maintain than it might first appear by putting all the scholarship recipients in one section. This ensures that 80% of the recipients lose their scholarship.

Sure, it won't be fun to take on 75k in debt to go to davis, but 75k in debt at a TTT will be much worse.

I concur. 

newtothis

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Like I tell most ppl who are thinking about law school...you should go into it imagining the worst case scenario and seeing if you can handle that scenario.  A lot of ppl on this board make decisions based on the best case scenario (i.e. being at the top of the class, working at a large firm, making 6 figures etc.) Sallie Mae is REAL and she comes calling every month. If the worst case scenario is...you lose your scholarship (very possible) and you have to pay full price for the schools you thought would be free...would you still be happy with your choice? Are your job prospects dim? How does that scenario compare with paying full price at the better school?

Be deliberate about these worst case scenarios...think about them and really weigh your options that way because you can always do better than the worst case scenario.  However, you have no where to go but down if you make decisions based on the best case scenario.

Sound advice, but not exactly accurate.

Think of type I and type II errors.  If you ALWAYS assume the worst, you WILL forgo worthwhile opportunities.  In this case, the OP could potentially do very well (someone has to be in the top 5-10%, right?) at the lower ranked school, keep his scholarship (not everyone loses their scholarship, do they?), land a good job , and come out on top with low debt.

Keep the worst case in mind, but don't always assume it.
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AmazingGrace

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Like I tell most ppl who are thinking about law school...you should go into it imagining the worst case scenario and seeing if you can handle that scenario.  A lot of ppl on this board make decisions based on the best case scenario (i.e. being at the top of the class, working at a large firm, making 6 figures etc.) Sallie Mae is REAL and she comes calling every month. If the worst case scenario is...you lose your scholarship (very possible) and you have to pay full price for the schools you thought would be free...would you still be happy with your choice? Are your job prospects dim? How does that scenario compare with paying full price at the better school?

Be deliberate about these worst case scenarios...think about them and really weigh your options that way because you can always do better than the worst case scenario.  However, you have no where to go but down if you make decisions based on the best case scenario.

Sound advice, but not exactly accurate.

Think of type I and type II errors.  If you ALWAYS assume the worst, you WILL forgo worthwhile opportunities.  In this case, the OP could potentially do very well (someone has to be in the top 5-10%, right?) at the lower ranked school, keep his scholarship (not everyone loses their scholarship, do they?), land a good job , and come out on top with low debt.

Keep the worst case in mind, but don't always assume it.

I don't believe I used the word "assume" in my post. We said the same thing basically...keep the worst case in mind...think about it and really weigh the options.  I just believe that while the OP could do all those wonderful things, it much more likely that he won't. 90% of people aren't in the top 10% right?  I just know that way too many people make decisions assuming that they'll be a law school master when your grades in law school don't always correlate with how hard you work.

newtothis

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Like I tell most ppl who are thinking about law school...you should go into it imagining the worst case scenario and seeing if you can handle that scenario.  A lot of ppl on this board make decisions based on the best case scenario (i.e. being at the top of the class, working at a large firm, making 6 figures etc.) Sallie Mae is REAL and she comes calling every month. If the worst case scenario is...you lose your scholarship (very possible) and you have to pay full price for the schools you thought would be free...would you still be happy with your choice? Are your job prospects dim? How does that scenario compare with paying full price at the better school?

Be deliberate about these worst case scenarios...think about them and really weigh your options that way because you can always do better than the worst case scenario.  However, you have no where to go but down if you make decisions based on the best case scenario.

Sound advice, but not exactly accurate.

Think of type I and type II errors.  If you ALWAYS assume the worst, you WILL forgo worthwhile opportunities.  In this case, the OP could potentially do very well (someone has to be in the top 5-10%, right?) at the lower ranked school, keep his scholarship (not everyone loses their scholarship, do they?), land a good job , and come out on top with low debt.

Keep the worst case in mind, but don't always assume it.

I don't believe I used the word "assume" in my post. We said the same thing basically...keep the worst case in mind...think about it and really weigh the options.  I just believe that while the OP could do all those wonderful things, it much more likely that he won't. 90% of people aren't in the top 10% right?  I just know that way too many people make decisions assuming that they'll be a law school master when your grades in law school don't always correlate with how hard you work.

Again, your advice is sound.  My only problem was with the last part of your post. 
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