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College and University Discussion
Reply to "How do people finance grad school?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I have two friends that worked for law schools (e.g., Georgetown) and received tuition remission. It took longer to finish law school--5 years vs 3 years--but they graduated with significantly less debt. Another friend attended med school and had some funding (small scholarship/fellowship). They also had most of their loans forgiven through a state loan forgiveness program. I was fully funded for my PhD program. I now advise my undergrad students to find a job at a university with a grad program they are interested in, apply to programs that have assistantships, or consider programs that pay off loans after graduation. [/quote] For someone planning to go into Big Law, taking 5 years vs 3 years to graduate really doesn't make financial sense from a opportunity cost perspective. If planning in public interest, this might be a good calculation.[/quote] OP here: good point. Both friends work in public interest fields. My two friends in Big Law (NYC) took out loans to go to Yale and Stanford. They are doing well considering their starting salaries 15 years ago.[/quote]
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