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Is there a mustachian way to do law school? Comments on my dilemma welcome

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chacunsatasse:
My dear Mustachians in the legal profession. I know that law school is often advised against in general, but if we are so inclined to risk life and limb (and future FI) to enter the gauntlet that is the pursuit of a legal education, would any of you that have been to law school and lived to tell the tale have any suggestions on going about it in a mustachian way? I.e. minimizing debt while also attempting to maximize experience, educational value, and future job prospects...?

I can offer my current dilemma on the choice between 2 law schools up for comment. I'd love any insight from mustachian lawyers out there.

Currently deciding between University of Louisville and University of Kentucky (Schools in my home state, I'm currently living abroad and need to return home to be closer to family). I've been offered a full scholarship at UL. I've been offered $18,500 out of $22,700 at UK. That would mean about 15k or so extra tuition at UK over 3 years. I will also have to fund cost of living at UK as I wouldn't be living at home and not sure I could work on the side to help fund myself. So potentially add another 30k over 3 years for cost of living- bringing me to around 45k to go to UK. There is the chance I'd have to take out minimal cost of living loans at UL, so lets say 15k as a safety net, bringing us to a difference in 30k over 3 years, UK being the more expensive option. Yikes... Just writing that makes my skin crawl, as I've learned from my undergraduate loans (currently down to 8k) that student loans are as a general rule of thumb, trash can...

I am from Louisville, have a ton of connections and family there. I feel like I could return home, live meagerly, network like crazy, pick up a weekend job catering bourbon events like I did in undergrad, and graduate nearly debt free and have a job to boot. Let's say UL represents the "safe" bet (relative term).... UK however, is the "higher ranked" school, with potentially better job prospects and a bit more "reach", or reputation, should I decide later in life to leave the state (though I wouldn't go far, I don't think- Cincinnati or Nashville would be about as far as I'd want to go from family). I am also intrigued by the possibility of meeting new people and making new connections in Lexington, Frankfort, and the surrounding areas. Cincinnati is only an hour or so north of Lexington, and UK generally seems to have a bigger draw of students from all over, while UL has bit more of a parochial, commuter school vibe and typically houses students from Louisville and its surrounding counties. UK represents the intriguing, slightly riskier, but potentially rewarding choice.

Of course whichever school I choose, I'll be living close to campus and rocking the bicycle- Mustachian principle numero uno, check :)

Thanks a lot in advance for making it this far in the post. If you want to comment on my dilemma, as I said before, I'd love any insight. If you'd prefer to comment more generally on a mustachian approach to law school, I think that'd be lovely as well and could potentially help future young, law school minded wanna-be mustachians. All the best- CST

Dee18:
Congratulations on your scholarship awards!  That is the key to becoming a Mustachian lawyer.  I am originally from Ky and am now a law prof in another state.  You probably already know this, but how well you do in law school is going to be a much more important factor in your future financial life than than which school you choose. I looked the schools up on US News and the one factor that seemed heavily in favor of U.K. Is the " employed at graduation rate." For Ky it is 59%, for Louisville only 40%.  That is a very significant difference.  Ky also has a higher bar pass rate. In 2016 79% of UK first time takers passed to U of L's 71%.  Again though, how you do will matter more than the school's average. 

Suggestions for being Mustachian in law school are similar to being Mustachian everywhere.  The big problem I see among students is they constantly spend money unnecessarily with a whole host of excuses, including, "My grades are too important to waste time cooking," (trust me, you can think about the latest S.Ct. case while cooking) ; "I can't work during law school because I need to study all the time," (study hard from 8am to 6 pm, get a job from 6-11 or on the weekends; "I need a new suit for interviews..." (no one is going to know if you bought your suit used or new....and tons of barely worn suits are available). "I need to go out drinking to network"...

Think hard about your housing costs.  While it is nice to live near campus, it may also be far more expensive than living a few miles away (still in biking or bus distance).  Cheap living situations include being a resident advisor for undergrads (can be free room and board with an apartment if you are the head resident for the dorm), living with a family in exchange for driving their tweens around after school, living with an elderly person in exchange for providing a little transportation and company...etc.  I have known students who have done each of these.  One of my students got free rent in a garage apartment in exchange for cooking dinner 5 nights a week for an older woman. Live in a group house where cooking is shared.  Consider not having a car at all. Don't eat out.  I had a rule for myself in law school...I got to eat one lunch or dinner out per week and get one pizza carryout per week.  I never borrowed money for living expenses, only for tuition.

Best of luck to you!  I have had a wonderful career as a lawyer and hope you do too. Feel free to pm me if I can answer any questions.

MrThatsDifferent:
Agreeing with the poster above that it means more how you do than where you go if the disparity isn’t too great. Knowing what I know now, I’d take the full scholarship and bust my ass to be in the top 5% of the class. Hire a tutor, talk to lawyers, avail yourself of every academic assistance resource they have. Get on the top journal, work in clinics and get to know your professors. Be kind and decent, but focused. Your first year is your most important—no side hustles, no distractions. Tell friends, family and lovers you need to focus everything on that first year. Get to the top and then get job with a firm over the summer. Get a job with a judge if you can. Be ambitious and focused. Avoid as much debt as possible.

FIFoFum:
What are the scholarship terms?

It's common for law schools to offer a high scholarship that is conditional on maintaining a certain GPA. In some sketchier instances, more students will receive the scholarship than could mathematically reach that GPA as a 1L due to mandatory curves in grading.

The last thing you want is to choose based on a scholarship that you may not be able to retain beyond the first year.

If you are in the top 5% at either school, you'll be fine. You'll pass the bar. You'll get a job. If you are in the middle of the pack, you'll wish you were at UK or maybe hadn't gone to law school at all. Most students think they'll be able to be top 10% by working hard. That's how they got to law school in the first place. Most will not be in the top 10%. That's math.

Paul der Krake:
Are you sure you would want to live 3 years with your parents?

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