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<p>First, considering the living expenses in the major cities where BIGLAW law firms are located, no one with $200,000 of student loans is going to be able to pay off those loans in “a few years,” even with a huge salary coming in. It is more likely to be 6-10 years of paying off loans (and that is on an accelerated pace from what the terms of the loans would require) with not insignificant sacrifices along the way to make those extra loan payments.</p>
<p>Second, there is no guarantee right now or in the future that anyone, including a student from a T14 law school, will land a BIGLAW job. Furthermore, there is no guarantee that BIGLAW will continue to pay the rediculously high starting salaries that they are currently paying. </p>
<p>If, in light of these factors, you still choose to go to Columbia Law, I wouldn’t blame you at all. For many lawyers, the name brand of your law school will carry a tremendous amount of weight throughout your career. Yes, someone who doesn’t attend a “name brand” law school can certainly do very well, and yes, their experience and skill as an attorney over the years may allow them a significant level of recognition; however, a name brand law school on your resume will almost always cause recruiters, law firms and companies to give you the benefit of the doubt right out of the gate. That can be a significant factor in the opportunities you have throughout your career.</p>
<p>Best of luck with your decision!</p>