How do people afford JDs and MBAs? Every time I look, the programs cost $40k + a year, which is super high. I’m an S1 Tax at KPMG. I live in NY, so I’m trying to look at online programs too but not sure if it’s legit for JD. Thank you everyone!

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Some u solicited advise, don’t do either unless from a top 10 school, which costs more that 40k a year

Lawyers make surprisingly poor money outside of big law and it will be difficult to pay back those loans.

Low tier MBA’s hardly ever have a positive ROI once you factor in the opportunity cost of lost wages for two years.

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Agree with SM1. Many regional schools are less well ranked, but have plenty of clout to make up for that in their local market. I think like any situation like this, it’s heavily dependent on the student.

Are you looking to transition into law?

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I appreciate that, SA! All the best to you too!

upliftingfunny

Most people I would assume take on the student debt and bank of making it up through increased salaries post graduation

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Yes these are borrow and repay later situations.

Don’t do law school online. Also, law schools throw money at people who have backgrounds they want (e.g., GPA, LSAT, minority)

smart

Loans bro. Also, much like MBAs, don't get a law degree from a no-name program. Make sure it's from a T14 school and shoot for big law jobs, otherwise youre gonna be saddled with debt and have shitty jobs

smart

You would be surprised at the scholarships these top rated programs give out, especially with a high GMAT/LSAT and Big 4 experience. A free ride is possible!

Please don’t do a online program, it’s a waste of time and money. Aim for a top 30 law school or top 20 MBA.

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Usually they’re neck deep in debt. my cousin is 200k in the hole from just law school, not even including undergrad

They generally take out loans, but many people get financial aid. I know a few people who did MBAs and JDs while working, but it can be extremely challenging.

Despite the comments here, it really depends. A top MBA or JD will quickly pay for itself and the caliber of opportunities throughout your career will on average be superior to those with just an undergraduate degree. Speaking as a JD, a JD from a lower tier school combined with credentials like law review can make a significant difference for a minority of people.

PwC paid for mine and I sure as shoot wouldn't do it if they didn't.

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