law school

Norway_T

I got into my 2nd choice law school (Denver). My 1st choice (CU) is a stretch and my lsat makes it unlikely for an acceptance.  

The problem is that my 2nd choice didn't offer me any type of scholarship.  3 years of law school, they estimate will cost around 150 000 USD.

Location is perfect because it is 15 mins from my familly.   Having a single mom, with not the greatest health, and my grandparens, step mom and dad close by makes Colorado the place I want to settle.

My bf who originally did not want to move there is now willing. Since he will have to travel to Norway to visit his parents we feel its easier if we live in CO because then we only have to concentrate on him  getting quality time with his family.  

Plus my mother will buy a condo in the mountains if we move back.

Colorado just seems like the smart place to move. 

BUT I am not sure if I am willing to pay 150 000 USD to do it.

I was really hoping and thought I was qualified for scholarships. But this is a tough admissions year, due to the world's economy.  My current job ends in Sep. 2010, so I really have to do some thinking if I am not giong to go to law school.

I really want to go, and particularly in CO, but not for 150 000.

Malakia02

$150,000 isn't too bad imho.  That is about the same rate as veterinary school out of a student's state of residency. I don't know this for fact, but I am pretty confident that veterinarians make much less money than the average lawyer as well (approx $50,000 a year starting out). I ended up leaving my vet school because they increased the loan interest to 15% which would have left me at $360,000-$400,000 spent on my degree.  So yeah....$150,000 doesn't look too bad in my eyes     

KD+BC

I've never gone to law school but is it possible to negotiate? Could you call the law school and see if there is anything they can do? Grad Assistantship or reseach assistant, some sort of work study? Again, I don't really know how law school works but it has always been my philosophy that it doesn't hurt to ask!

jeanacorina

Welcome to the world of paying for college yourself. It sucks, don't it?

If you really want to do it, you'll figure out a way, whether it's negotiating, digging up obscure scholarships nobody's ever heard of (the school isn't going to do that for you), or just biting the bullet and getting loans and a second job to pay them off.

It's not about the money, everybody faces that problem at some point. It's how bad you want to go to school.

It took me 5 years to suck it up and go back to college on my own money. It's a tough decision, but there was no other option (I tried) and ultimately I felt my education was important enough to do whatever it takes.

Norway_T

Thanks for the encouragment.  I am trying to negotiate now although I am not sure I will have any success
They have a public interest scholarship that I can apply for so that is my real hope.

I am also hoping that they will allow me to work my first year, I  used to work as a counselor for teeenagers at a live in residence in Denver. It does not pay well, the hours are nice, and they give health insurance for part time employers.  I wouldn't mind working while in law school.

desertsun

It's pretty early yet for law school admissions, isn't it? For starting next fall? I'm just thinking that they may wait to award scholarships and such until they have a better idea of what their incoming class looks like. Some of your competition for scholarships may decide to go to other schools. I don't really know anything about it, but working at a university, I know this is sometimes how things happen. Keep hope alive, my friend!

And even if you don't get the financial aid you want, I still don't think that's too much debt if you love what you do. Esp. if you have a two income household.

It's a lot of money, and I think you're right to really think about your decision before you make it. I would just encourage you to not let the money worries deter you from doing something you really want to do.

Good luck and keep us updated!

roses12985

Sorry to intrude, but I'm a sometimes lurker and this thread caught my attention.

There is nothing wrong with taking out $150K for law school, but please be sure it's what you really, really want.  I just graduated from law school in May with $150K principle in loans.  What the school won't tell you is that the actual payback is closer to $250-300K (based on 25-30 years or so).  My monthly payments are $1,450.  If I wanted to pay my loans off in less than 25 years my monthly payments would be significantly higher.  I, of course, can't make any payment right now because I can't get a job as a lawyer.  I went to a good school (LUC), graduated in the top 1/3, and passed the bar.  The market is just that bad.

I might not be so concerned if I had a job, of course, but the money situation will obviously weigh on me for a long, long time.  I would have loved to be a STHM and be able to buy a house and save money, but those things will be a long time coming, if ever based on my decision to go to law school. 

By no means take this as a message to not go, but please think through everything.  Will you be angry if you spend that much money and then can't even practice in your field?  Do you mind paying back more than $1400 every month for the next 30 years?  If there's any doubt, you might want to wait a year or so.  I often struggle with my decision, and hope to keep others from the same position if possible. 

Whatever you decide to do, good luck.  Law school is a rewarding experience, and I can't wait to be a lawyer, but the 3 years I was in school and my time out have been trying.  It's not something to do if you aren't in it 100% emotionally and financially.

Norway_T

Thanks for the advise.  It is a very hard decision for me. It's been a really hard year for decisions.

I am REALLY happy in Norway. I love our condo, our friends, being around my bf's family. I don't want to move.

Right now I have a decent job, but it is temporary and not doing anything for me to develop a stable career. And really it's not a healthy working environment and its time to move on.

I enjoy legal research and really think I would enjoying practicing law.

While I like working hard and like the idea of going back to school  I am also at the stage in my late 20's where I want to enjoy life outside of a library. I want to go out to dinner with friends and have the time and money to do it. 


Furthermore, I want to have a family soon. And honestly I would prefer to have my children in Norway before I move to the US for many reasons.   If I had kids now I would get a year paid materinty leave, around 70.000 USD. 
(Salaries are high in Norway as it is the most expensive country in the world).

So I could say in the next two/three years have two kids, get to stay in Norway and get paid 140.000 US to do it or I could go to law school for three years, work my ass off and be in debt 150.000 USD with no gurantees of finding a job afterward.

It's just insane.  My bf  (of 5 years) and i have talked the matter over a thousand times. We realize that we both want to study more and have a career and to do that after kids would be a lot more difficult. 

BUT damn it for 150 000 USD in debt versus 140 000 in the bank I am just not sure if it is worth it. 


 

jeanacorina

Well, that's something that only you can decide. It sounds like you've mapped out the logistics. Now you need to do some soul-searching to figure out what is most important to you, and what you're willing to endure.

notquiteblushing

Congrats on your acceptance.  It's a big decision to make and my advice is don't go to law school if you are unsure.  Besides the debt there's also three years that you are out of the workforce and the current market for legal jobs is a nightmare.  I'm lucky I graduated in 06 because people graduating this year are having a real tough time.  (And if you go full time you can't work in the first year btw.)

I think you should do some soul searching and figure out what's best for you.  Moving back to the U.S., law school, marriage, kids, that's a lot to think about at once.  Good luck.

Norway_T

Thanks for the support girls. I want to be a lawyer  but the realities of the legal profession, the economy and high tuition scare me. 

My boyfriend I don't think is quiet ready for kids, and so I think law school will be the way to go.   Not that I have to choose between having kids or going to law school, I can either do one, both or none..

But deciding which is the tough part. I don't want to leave the life I have in Norway quiet yet, but then again I want to make changes to provide me with a better career than I have now.

Ok I will stop rambling on this now. But I do really appreciate everyones incite!

RaiKai

There are often independent scholarships and bursaries available as well. Contact the financial services/student services office at the law school.

I graduated with $100,000 in student loans and student line of credit debt. The dent was a bit smaller, as I had some savings, got a few small bursaries and worked throughout law school however I had a mortgage on top of tuition, etc.

Still, that is a lot of money, and it is going to take a long time to pay it off. It means I cannot afford a lot of other things I used to have BEFORE going back to school. I did find a wonderful job after graduation, however as I chose balanced lifestyle over big pressure (and bigger money that accompanies that) money is very tight. Especially as FI is also going back to school now.

I don't regret it. I really wanted to go back to school. And I really wanted to go to law school. There was no doubt that I was ready to make the sacrifices (including losing a great job, regular salary and a lot of lifestyle changes). I do know many others who aren't so sure about their choice however. So, I would advise you be pretty sure this is what you want. Be realistic about the realities of not only law school, and the practice of law, but also the current market. Research, research and research.

And, while I did work during law school, I would not count on being able to do it. It was incredibly difficult for me to do so most of the time, and it meant a massive lack of sleep for the first couple years - I was lucky to get 4-5 hours of sleep a night after classes, work and studying as well as making time for personal fitness and socializing (third year was much better). While many students did work in the summer, most did not work during the school year itself as it was incredibly challenging.

It can also be difficult on your personal life. Many, many of my classmates found their relationships did not survive through first year. A handful of classmates had children during school, and all but two of them were men (so their wives were able to stay home and watch the kids). The two women both took a year off from their studies and have had a tough time going back (though they did complete school). It does not get much better for many when they start working. I was very fortunate to find a great firm where family life is greatly respected, however most of my classmates were not so lucky. It is not unusual at all for them to sometimes be sleeping at the office. That would not be my choice, but the job market, their own desires to pay off student loans quickly, etc had them go towards that choice.

I am not trying to discourage you, as I said, I am so glad I went back, it was one of the best decisions I have made in my life. However, be realistic. It requires a huge commitment and a lot of sacrifices and you need to really be sure you want to go back if you are going to make that commitment, and be willing to make those sacrifices.

Norway_T

Thanks Raikai I appreciate you sharing your experiences.