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shwags
Class of 2009
First choice school:
3.68/4.3
GPA
168/180
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shwags's wisdom for future generations

School apps

Rank
2005-2006
Result App type FW Resident Schol... Sent Sent raw Received Received raw Complete Complete raw UR UR raw UR2 UR2 raw II II raw Decision Decision raw
8 Columbia University Pending Unknown Oct 25 2005-10-25 Nov 14 2005-11-14
5 New York University Pending Unknown Oct 14 2005-10-14 Nov 07 2005-11-07
1 Stanford University Pending Unknown Nov 04 2005-11-04 Nov 20 2005-11-20

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jb2028
21:00
If that is an oversight in the explainer/documentation, and assets are treated the same for PSLF as for the standard LIPP, the asset allowance is: $10K + (years worked before HLS*$10K) + (years worked since HLS*$10K), they multiply the unprotected asset amount by a declining percentage (100% for new grads, 0% 10 years out), and then the result of *that* calculation is divided by your loan balance to determine the percentage by which LIPP support will be reduced. Like I said, very convoluted.
21:02
PSLF may be a good option for you if you have high assets and/or significant non-taxable income (i.e. military or clergy allowances) as these circumstances may cause you to be ineligible for LIPP or reduce the amount of assistance you would receive from LIPP.
21:02
From HLS site
[] ararara
21:04
In short for anyone who’s following along and still confused basically Harvard has super deep pockets!
jb2028
21:04
To make that a bit more scrutable, an example: 3 years WE before HLS, $90K in savings, borrowed sticker ($424K per Law School Transparency). $10K+(3*10K)=$40K in assets are protected, $40K unprotected. ($40K*100%) is divided by $424K, so LIPP benefits would be reduced by 9.4% (you would receive 90.6% of the full benefit) during your first year of repayment
jb2028
21:05
Oops, mixed up my figures above (initially used $80K in savings). For $90K, you have $50K unprotected and benefits are reduced by 11.8%
21:06
HLS better have super deep pockets for how expensive sticker is lol
jb2028
21:06
And yeah, the passage @geauxblue notes *implies* that assets aren't considered in the PSLF plan (at least, not in the exact same way), but I for one am going to ask the HLS financial aid folks to walk me through it in excruciating detail before I sign up for $424K all in over three years
21:07
I’m with you jb
21:08
If you can go BL then exit into a PSLF eligible govt or PI role and get the benefits of LRAP then that’s massive
AnnoyingOpenYogurt
21:08
TY for all the info <3 and yes I will also need them to advise me lol
jb2028
21:09
Oh, and as an added bonus HLS lets you roll in up to $50K for undergrad/joint degrees and up to $15K in bar-related expenses as LIPP-eligible borrowing (for standard as well as PSLF tracks)
AnnoyingOpenYogurt
21:09
It feels weird to spend the ***k I’ve saved and go back to 0. But also scary to take out loans for full coa
AnnoyingOpenYogurt
21:10
manifesting good financial futures for all of us
jb2028
21:12
Beyond the (extremely generous) topline figures, the area where the HLS plan really shines compared to its peers (And so, I assume, do YLS/SLS, have not researched as much since I have not gotten As) is those fringe questions/cases - no maximum income, lots of ancillary loans can be rolled in, edge-case employment (non-legal nonprofit) is eligible, etc. All the stuff that is not as flashy for prospective students, but can help grads a lot if your law school has more money than God
AnnoyingOpenYogurt
21:14
ah I’m reading the website and u can’t use lipp if you’re borrowing instead of paying w savings, except those 10k x year protected assets
im leaning towards HLS over the BLOS
jb2028
21:18
For a sense of where the HLS endowment really makes a difference, compare to NYU - a peer school with a focus on PI. Under NYU's PSLF plan: Benefits start to phase out at the same $ amount as Harvard ($110K), but the phase-out is steeper (40% vs 30% of marginal dollars), they have a strict asset cap ($100K net worth or less), you can't roll as much debt in from undergrad ($30K vs $50K) or bar prep ($10K vs $15K), and non-legal nonprofit employment is not eligible
21:19
Damn so for NYU you CAN’T do BL then qualify for their plan
21:20
Or would the loans be accounted in your net worth so you still could
jb2028
21:25
I believe they'd be factored into your net worth, so you could do biglaw and then do the NYU LRAP if you slow-walk loan repayment and spend all your biglaw $ on hookers, blow, and increasingly Preſtigious (expensive) private schooling and enrichment for the kids
jb2028
21:25
Many such cases
jb2028
21:26
They just don't seem to make it out of biglaw when their lifestyle collides with the practical realities of government salaries
21:35
Jb when are you visiting HLS
jb2028
21:37
3/29 ASD. You?
21:43
April 12
21:43
Lmk how you like it!
jb2028
21:46
Will do!
I’m going April 12 too
im going 4/19 since it was cheaper for me lol
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