So, as you, my many faithful readers, know, I've been applying to law school. (Was that enough commas in one short sentence for you?) So far I've now been accepted to two schools: George Mason, and Loyola Law School. I was very excited about Loyola's letter to me because it said that I will receive an estimated $84,000 worth of scholarship money over the three years. That sounds GREAT, right? Well... when I considered that the latest tuition rate at Loyola is about $40,000 per year, and that living expenses plus fees, etc will amount to another $20,000 or so... I'd still actually have almost $32,000* of debt every year!
Ok... so then there's BYU. It's in Provo, UT. Yeah, PROVO. That's significantly cheaper to live in than Washington, D.C. or Los Angeles. (The locations of GMU and Loyola) So living expenses/fees etc. will probably be significantly lower than $20,000 for BYU. (Their website actually estimates additional costs at $15,070.) Then there's the tuition. Without a scholarship it's only $10,280 per year. So what does this all mean? Even though BYU would never in a million years give me a scholarship for $84,000, their regular cost is far cheaper for me than Loyola Law School. Who is significantly lower-ranked, and has again, offered 84 freaking thousand dollars. Let's hope I get into BYU Law. $25,000 of debt per year sounds a little better than the $32,000 per year I'd get at Loyola, and it sounds MUCH better than the $55,000 of debt I'd have each year at George Mason. Ugh. Money sucks.
K, see ya!
* Actually, I made some errors in calculation of living expenses. It would be $37-38,000 of debt actually.