Student Loans

Today, April 15, is Tax Day. But it’s an important day for another reason as well: it happens to be the day that some law schools want to hear back from applicants — and collect their deposit checks, of course.

Let’s close out our series of posts soliciting advice on picking a law school with three fact patterns. All of them involve at least two members of the so-called “T14,” the nation’s 14 leading law schools according to the U.S. News rankings….

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In our last story asking you to advise a law school applicant, the 0L in question was choosing between UVA, Northwestern, and Minnesota, which offered him scholarships of different sizes. You voted in favor of Northwestern, which offered him a generous scholarship, and he took your advice.

Today we bring you a doubleheader. Our first candidate wants to know whether she should go to law school at all, given the options she faces. Our second candidate is choosing between two excellent law schools, but with different price points….

double red triangle arrows Continue reading “The Decision: Should I Go To Law School At All? Plus George Washington v. William & Mary”

Yesterday we asked you to advise a prospective law student choosing between NYU Law School, at full sticker price, and UVA Law School, at half price. You overwhelmingly voted in favor of UVA. (Some of you suggested in the comments that he try to use his UVA scholarship to wrangle some scholarship money out of NYU; he did, but NYU said no.)

Today we bring you another 0L choosing between some excellent law schools. This individual has narrowed his decision down to three places: UVA, Northwestern, and Minnesota. For those of you who slavishly adhere to the U.S. News rankings, the three schools check in at #7, #12, and #19, respectively.

So what makes this choice more challenging? The differing scholarship amounts they’re offering this candidate….

double red triangle arrows Continue reading “The Decision: UVA v. Northwestern v. Minnesota (With Varying Scholarship Amounts)”

Going to law school is a smart choice for many people. It’s not a smart choice for all people or probably even the majority of people who end up going, and it’s not a decision to be entered into lightly. But if you want to be a practicing lawyer, based on an informed view of what lawyers actually do, and if you’ve concluded that law school is right for you, after a rigorous process of psychological and financial self-examination, then by all means, matriculate.

(We are not uniformly anti-law-school here at Above the Law. I’ve written many times in defense of going to law school, provided you’ve done your research. See, e.g., here, here, here, and all of these law school success stories. And Elie’s on vacation this week, hahaha….)

The question then becomes where you should go to law school. It’s a timely topic, since now is the time of year when prospective law students or “0Ls” must decide where to put down their deposits. So help a brother out and offer some advice on the following situation….

double red triangle arrows Continue reading “The Decision: NYU Law v. UVA Law at Half-Price Tuition?”

Last week, in Morning Docket, we mentioned that one law school was thinking about lowering tuition. My colleague Staci requested less thinking and more doing.

As it turned out, the law school in question went ahead and reduced tuition, by significant amounts. How much are we talking about? And could this positive trend spread to other schools?

Maybe — especially if law students do their part and speak out….

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Amid a jobs and loan debt crisis, the push for legal education to reinvent and remodel itself upon the medical school paradigm continues to grow. From a reduction in years of schooling to legal residency programs, these and a slew of other ideas are looking better and better.

Next up to the plate: monetary incentives to practice in no man’s land. Doctors have been getting loan repayment incentives for four decades in exchange for practicing in underserved rural areas.

Why can’t lawyers do the same thing?

In recent weeks, South Dakota’s innovative plan to keep lawyers in the state and practicing in rural areas has gotten a great deal of media attention. If you’d consider hanging a shingle in a small town for five years in exchange for a yearly sum of $12,000 to pay off your debts, then this is a great idea.

There’s free money waiting for you in flyover country….

How do I know that these people are not lawyers?

Now that my wife and I have a baby, people keep telling us that we shouldn’t just find a bigger rental, we should buy something and put down roots. My wife, politely, laughs and says, “We’re thinking about it.” I angrily roll my eyes and say, “Why don’t you think about going and f**king yourself.”

You see, we are both law school graduates who debt-financed our educations and now live in New York. Property ownership is not something that will happen for us… unless we just want to give up and move to an oil-soaked subdivision in Arkansas.

But I am not alone. A law professor has crunched some quick numbers and determined that at least half of the class of 2011 wouldn’t be able to own a home….

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Star-crossed lawyers: Juan Monteverde and Alexandra Marchuk.

If you want to sue a defense-side Biglaw firm for employment-related claims, go for it. Unless your lawsuit is bats**t insane, chances are the firm will settle with you. See, e.g., Charney v. Sullivan & Cromwell; Schoenfeld v. Allen & Overy. Heck, you don’t even need to file an actual case; even threatened litigation can yield a six-figure payday.

Biglaw firms are busy — busy making money, of course — and very reputation-conscious. They don’t want to be distracted by litigation, and they don’t want their white shoes sullied by grime. They will pay good money to make headaches go away.

But suing a scrappy plaintiff-side firm is an entirely different story. They will hit back — and hard.

Last month, Alexandra Marchuk sued her former firm, Faruqi & Faruqi, making a host of salacious allegations. The most incendiary: that a partner of the firm, Juan Monteverde, forcibly had sex with her in his office after the firm holiday party.

Now the Faruqis and Monteverde are turning it around on Alexandra Marchuk. They’re suing her back, filing counterclaims and seeking an eight-figure sum….

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‘Churn that bill, baby? Dear Lord…’

* With SCOTUS justices questioning standing in the Prop 8 case, and one even stating that gay marriage is newer than cell phones and the internet, you can guess where the decision is headed. [New York Times]

* “This badge of inequality must be extinguished.” With men like Ted Olson and David Boies representing the plaintiffs in Prop 8, at least we can say that they fought the good fight. [Wall Street Journal (sub. req.)]

* OMG, remember when DLA Piper allegedly overbilled a client and got dragged through the mud over scandalous emails? Now the firm says they were totally joking. So cray. [DealBook / New York Times]

* Less than a month after handing out pink slips across multiple offices, Patton Boggs named a new managing partner in New York who just so happens to be a Dewey defector. Ominous. [Am Law Daily]

* These are great tips on negotiating financial aid, but try this: tell admissions you’ll happily enroll elsewhere, and watch them throw cash at you. [Law Admissions Lowdown / U.S. News & World Report]

* It looks like Paul Ceglia’s zany misadventures in being fired as a client by Biglaw firms and suing Facebook may finally be at an end thanks this scathing 155-page recommendation of dismissal. [CNET]

Do any of you remember the set up of Northern Exposure? It was a decent enough show where a “city slicker” doctor had to practice in small town Alaska to pay off his student debt. Aidan from Sex in the City was on it.

Anyway, the point was that the state of Alaska paid for Rob Morrow’s medical school. In return, he had to work wherever Alaska sent him for five years.

Subject, of course, to the restrictions outlined in the Thirteenth Amendment, I’ve wondered why this isn’t an actual thing that more states do in order to help underserved communities. Why doesn’t New York pay for a bunch of people to go to medical school, but then they have to practice in poor areas for a term to work off their debts?

One state is giving it a try. And why not? I mean, it’s not really like peonage, is it?

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