Law School Discussion

Stips vs. No Stips - Scholarships

Stips vs. No Stips - Scholarships
« on: March 15, 2016, 07:37:21 AM »
Hi everyone.  I first took my LSATs in February of this year, but had a head ache and mis-sketched my 2nd logic game on my first section of the LSATs - that drained my time before realizing the mis-sketch, threw me for a loop, and I ended up scoring 10 scaled-points below where I was PTing.  I have already registered for my June LSATs and realize that that could (likely?) change my outlook.  So, my question is:

Given two very similarly ranked schools (School A and School B), both have offered me hefty scholarships.  Tuition at School A would come out to about $17k/year (1 more scaled point on my LSAT and that drops to $12k/year), with no stips (beyond a 2.0).

School B would come out to about $12k/year as-is, but with the stipulation that I must remain in the top 65% of my class after each subsequent year to renew.

Only given that information, what do you think is the better deal?

Is having to be in the top 65% of the class, for a 65% ship a decent stip?  Or should I attempt to negotiate that down?

Thanks

Re: Stips vs. No Stips - Scholarships
« Reply #1 on: March 15, 2016, 09:03:35 AM »
Top 65% is not too bad, and I'd be inclined to take that offer with the following caveat: research the school's grading curve, scholarship retention rate, and attrition. These will all come into play. Being in the top 2/3 could be more difficult than you anticipate, depending on several factors.

Also, what is the total cost of attendance at each school? One may be $5k cheaper, but is the cost of living higher, etc?

Think about location, too. If one school is in a place where you would like to live vs. a place where you would want to leave after graduation, then that, too, matters.

As far as the LSAT, go ahead and take it again, see what happens. If that gets you a better offer, then great.

Re: Stips vs. No Stips - Scholarships
« Reply #2 on: March 15, 2016, 09:26:55 AM »
Thanks.  Here are the scholarship retention numbers for School B:

(1st number/date range)
Students Matriculating In

(2nd number)
# Entering with
Conditional
Scholarships

(3rd number)
# Whose Conditional
Scholarships Have
Since Been Reduced
or Eliminated


2012‐2013 Academic Year 97 33
2011‐2012 Academic Year 84 22
2010‐2011 Academic Year 101 39

So, it looks like roughly 1/3 are reduced or eliminated (ironic, considering that you must be in the top 2/3 to keep the ship).

Re: Stips vs. No Stips - Scholarships
« Reply #3 on: March 15, 2016, 09:55:43 AM »
Right, so the bottom 1/3 are being eliminated as per the conditions.

Here's the thing to keep in mind: as you get past the first year the class size will shrink and it will tougher to remain in the top 65%.

Let's say your entering class is 100. At the end of the year you need to be ranked 65 or above to keep the scholarship. Not too bad. But, after the first year the underperformers are going to be gone. So now you don't have that buffer of underperformers which made it easier for you remain in the top 65%. Now, you have to compete more directly with a smaller class of other better-performing students in order to retain the scholarship.

See if you can find out how many people lose the scholarship in the second year.