GSU with $0 debt or Emory w/ $120k debt?Interested in BigLaw in Atlanta.
Quote from: mgkoefod on March 18, 2008, 10:56:34 AMGSU with $0 debt or Emory w/ $120k debt?Interested in BigLaw in Atlanta.Is it really 0 debt at GSU and $120K debt at Emory? When you guys talk abou "debt," do you only mean "tuition debt" or the general meaning of "debt." At GSU, even if you got full scholarship that will cover your three years worth of tuition, you still need to eat, have a roof over you head, etc, don't you? Let's calculate:Rent: 3 years X 12 months X $650 per month = $23,400.Food: 3 years X 12 months X 30 days a month X 15 dollars a day ($6 lunch, $7 dinner, $3 break fast) = $16,200Books: 6 semesters X $600 = 3,600.Tansportation: This depends if you own your car or still making payments, but it will be inlcuded in your total debt, just like food and rent, doesn't it? Let's say, 3 years X 12 months X $350 payment (let's be conservative and let the $300 include gas and insurance, etc.) = $12,600The above total figure, WITHOUT paying a dime in tuition come to a total of $52,200 and keep in mind that it DOES NOT include entertainment (bars, movies, going out, etc.), clothing (don't we all need new suits, new pairs of shoes, jeans, etc. in those three years, Barbri course that costs thousands, health insurance, etc. all add up to maybe another $20,000 - $30,000). So, in other words, you will have $70K to 80K debt even if you don't have to pay a dime in tuition. Is my calculation totally off?
Your calculation is right, but cost of living shouldn't be considered when comparing two schools in the same city. Whichever the OP chooses, his cost of living will be the same.
Quote from: xferlawstudentYour calculation is right, but cost of living shouldn't be considered when comparing two schools in the same city. Whichever the OP chooses, his cost of living will be the same.I see people in here talk about their (future) debt all the time and how they are going to pay for it, but they usually refer to the tuition amount only and forget that it will cost them another 70-80K in addition to the six figures or so tuition debt that they may have.
I'd say more like $60k, but you make a good point that it should be considered. However, when comparing GSU and Emory the cost of living will be the same; the schools are less than 10 miles apart.