T3 or low T2?

[OConnorScribe]

Price is virtually the same at both places, for what it's worth (St.J might be $1K or $2K more expensive on tuition, but living expenses are the same. That's one thing I'll give Pace; they were able to cap this year's tuition increase to 3%). So that really isn't much of a consideration, unless scholarship money factors into the equation.

[OConnorScribe]

BTW, to big-fat-box -- what makes you such an expert on the job prospects at other schools anyway? How the heck do you know? You're obviously using BigLaw as an end all and be all. Even if I was fortunate to transfer up to T30 or began there to begin or were in the top 5 at Pace, I still would think once, twice, three times a lady about working one of those gigs. I know too many people who were miserable at those places and bailed out within a couple years. I also have family friends who middles in school, worked small firms and became very successful within a reasonable time after graduating. Will those first few years suck for me in the face of loans? Yes. But I don't see myself being in ruins in 20 years or anything. You make evrything outside of Latham and Dechert sound like Dairy Queen. It's amusing. 

[big - fat - box]

O'Connor, I'll make this quick:

1. Not everyone at top schools wants to go to a big, national/multinational firm. Not even every transfer wants to do that. I know transfers at my school who are doing other things like working for the government or going to regional firms. A lot of students in general only do biglaw to pay down debt for a couple years anyway. I never said I was going to biglaw by the way.

2. Anyone who takes on the debt as a result of the INSANE tuition law schools charge, and especially the tuition the low ranked schools have the gall to charge should be concerned about how to service that debt. For a lot of students who need to pay down debt, what kind of starting salary available to them is very important. That's the perspective I'm emphasizing.

3. I attended a regional t2 school before transferring. Beyond my school, I'm familiar with the situation at other similar T2/T3/T4 schools through various contacts and acquaintances. I also know graduates of schools that run the gamut. I think I have a pretty good idea of the kinds of job prospects available to students at T2/T3/T4 schools. If anyone doesn't believe me, they can always do the research themselves. A lot of the info is out there if you know where to look. It isn't pretty out there, I'll tell you that much.

4. I have nothing against low ranked schools per se. However, I'd much rather see students who have to or choose to attend such schools get some sort of generous aid package (ideally not tied to GPA) or attend a cheaper, in-state public law school.

[OConnorScribe]

Fair enough, man ... I was just struck by the starkness of your posts. I agree with 100% you re: your fourth point. The risk involved would be much less severe and stressful. It's gotten to the point where they may need to be wholesale forgiveness just to reset things for the sake of logic and sanity. And, no that's not just a daydream ... student loan default may be the next subprime ...

[big - fat - box]

... student loan default may be the next subprime ...

It sort of already is. Check some national news articles re: the student loan industry over the last year. Many banks that were lending out FFELP loans have shut their coffers. Student loans are packaged and sold as securities the same way mortgages are, btw.

I don't think forgiveness for students is going to happen. The only people who are going to be bailed out are the banks and lenders...the students will be left holding the bag and won't be able to discharge their debt (you can't discharge it right now to do so would require a change in the law), thanks to the student loan industry lobbying machine.

[Ninja1]

... student loan default may be the next subprime ...

It sort of already is. Check some national news articles re: the student loan industry over the last year. Many banks that were lending out FFELP loans have shut their coffers. Student loans are packaged and sold as securities the same way mortgages are, btw.

I don't think forgiveness for students is going to happen. The only people who are going to be bailed out are the banks and lenders...the students will be left holding the bag and won't be able to discharge their debt (you can't discharge it right now to do so would require a change in the law), thanks to the student loan industry lobbying machine.

BFD. Take your left over loan money and setup shop in Ecuador or Argentina or something if the job search goes bad.