Law School Discussion

lots of $$$ vs lots of debt

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lots of $$$ vs lots of debt
« on: April 04, 2006, 06:16:54 AM »
I'm in at Emory, ND, and W&L:

15k/year from ND

12k/year from W&L

Nothing from Emory.

I'd much, much rather attend Emory than either of the others for a variety of reasons--weather and the big city location being the most important at this point (I've lived in the south pretty much my entire life and don't do very well in the cold).

BUT I have about 45k in debt from undergrad, and graduating with 200k total debt just seems crazy when there are cheaper alternatives available.

SO, where do I go? I'd love to spend my 2L year in London and be able to spend a weekend every now and then in Chicago, but nothing else is really pulling me towards Notre Dame. I'm also a liberal athiest and don't know how that would work for 3 years in a place overflowing with religion. On the other hand, W&L is tiny and in the middle of nowhere. Not exactly heaven there either.

So confused and so little time. Any insight would be appreciated.

(I emailed Emory and W&L today asking for more money, but I'm not expecting much.)

->Soon

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Re: lots of $$$ vs lots of debt
« Reply #1 on: April 08, 2006, 08:00:03 PM »
Tough choice.

Do you really want that much debt?  THat would be awfully hard to pay back...

laurrk

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Re: lots of $$$ vs lots of debt
« Reply #2 on: April 08, 2006, 08:10:47 PM »
Quote
BUT I have about 45k in debt from undergrad, and graduating with 200k total debt just seems crazy when there are cheaper alternatives available.

Depends. Do you want to do BigLaw? Making $125,000 a year it wouldn't take too long to pay off the debt. But if you don't know what you want to do, then I would probably go with ND or W&L. Since you're a liberal atheist, I'd probably go with W&L.

Then again, I am hugely debt-averse after dealing with some credit card debt. I felt strangled every month when the bill came and I had to put 25% of my take home pay towards the credit card. I also want to own a home someday, so I'd rather not have loads of debt. I used to babysit for one of my old professors, and I know that he and his wife (MPA/PhD and JD, respectively) hated still having the school debt when they wanted to upgrade to a bigger house for their growing family. At least that was my impression of their situation, they didn't say in so many words.

Of course if you really love Emory, and you know you wouldn't be happy at either ND or W&L, that makes it harder.

Re: lots of $$$ vs lots of debt
« Reply #3 on: April 08, 2006, 08:18:15 PM »
ND and W&L, even with sholarships, are not cheap schools.  I don't know how the total price differs in these three school, but it seems that if it is similar, you would really only be saving 50k or so at the most by going to ND or W & L - which sounds like a lot, but in reality is about 150k v. 200k - it is not like a completely free ride v. 200k.  I would go with where you love and will be happy.

Steve.jd

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Re: lots of $$$ vs lots of debt
« Reply #4 on: April 08, 2006, 09:45:00 PM »
ND and W&L, even with sholarships, are not cheap schools.  I don't know how the total price differs in these three school, but it seems that if it is similar, you would really only be saving 50k or so at the most by going to ND or W & L - which sounds like a lot, but in reality is about 150k v. 200k - it is not like a completely free ride v. 200k.  I would go with where you love and will be happy.

titcr

Go where you would be happy, screw the debt and worries.

Do you really want to wake up one day and regret not going to Emory?  Life is too short to make sacrifices on stuff like this, GO WHERE YOU WILL BE HAPPY

Re: lots of $$$ vs lots of debt
« Reply #5 on: April 08, 2006, 09:54:03 PM »
I'm also a liberal athiest ....Not exactly heaven there either.

But you don't believe in heaven.... lol

yiplong

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Re: lots of $$$ vs lots of debt
« Reply #6 on: April 08, 2006, 10:36:26 PM »
ND and W&L, even with sholarships, are not cheap schools.  I don't know how the total price differs in these three school, but it seems that if it is similar, you would really only be saving 50k or so at the most by going to ND or W & L - which sounds like a lot, but in reality is about 150k v. 200k - it is not like a completely free ride v. 200k.  I would go with where you love and will be happy.

W&L's tuition is around 25k right? So if the OP has 12k from W&L, it will make it the cheapest choice.  He only need to pay 13k or so in tuition and fee, plus 10k or so for room and board, that's around 25k a year.  Looks like his debt will be well below 100k when he graduate if he goes to W&L.