The Decision: Tempted By The 'T14'
Please advise three more prospective law students on where they should go. They've gotten into some great schools, but greatness isn't cheap.
We’ll call this next person NYC Hater:
I’m a big reader and have decided to go to law school next year despite your continual warnings. I work as a tax policy analyst and don’t completely hate it, so I’m hoping I do fine in Biglaw (at least for long enough to pay back my loans). What would you do with these options?
Michigan Law: $18,000 scholarship
Cornell Law: $60,000 scholarship
Northwestern Law: Sticker
WashU Law: Scholarship for full tuitionSo here’s the deal: I’m from the Midwest. I work in DC. I’d like to aim for Biglaw post-graduation in either Chicago or DC, but am really not committed to anywhere other than that I do not ever want to live in NYC.
Michigan’s scholarship was a disappointment, and they’re done negotiating. I like their “national” distribution and the diversity of the student body’s career ambitions, but their Biglaw placement scares me versus NU or even Cornell…. Northwestern would be nice for Biglaw Chicago, but I feel like it’s a weird factory and I’m less into that mindset.
I know how awful the 10-year repayment plan is for me and how uncertain the job market is, but I think Michigan gives me access into certain markets that the others would not give me. WashU is a whole other beast…. [The full ride would be nice,] but they hardly place into the markets I’d like (even if we assume I get into the top 20 percent)….
Anyway, what say you?
For your reference, the U.S. News ranks are Michigan at #9, Northwestern at #12, Cornell at #13, and Washington University at #19.
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The annual cost of attendance figures are $69,950 for Michigan (out of state), $79,628 for Northwestern, and $74,680 for Cornell. So, after scholarships, NYC Hater would be looking at an annual bill of roughly $64,000 for Michigan, $80,000 for Northwestern, $55,000 for Cornell, and $20,000 for Washington University (non-tuition expenses only). If you translate these numbers into total costs for all three years, Michigan would cost around $190,000, Northwestern would cost around $240,000, Cornell would cost around $165,000, and Wash U would cost around $60,000.
So is “T14” status worth $100,000? I love me some prestige, but that might be a bit dear.
Let’s run two polls. First, the four-way decision:
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Loading ...Now, just to make things more interesting, take Wash U off the table. What should NYC Hater do then?
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Loading ...Thanks to everyone who sent a fact pattern our way, and thanks to everyone who voted and commented. Feel free to continue discussing these issues elsewhere on the web (e.g., over at Top Law Schools, which has extensive law school fora).
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Deciding to go to law school in 2013 is a big and risky decision, and folks need all the help they can get. Best of luck to everyone still going through the process.
Earlier: The Decision: Should I Go To Law School At All? Plus GW v. W&M
The Decision: UVA v. Northwestern v. Minnesota
The Decision: NYU Law v. UVA Law at Half-Price Tuition?
