I am just curious as to know how everybody is financing an LLM. Those of you with full/partial scholarships congratulations! ( I must confess I envy you).

How about bank loans? How are you managing to obtain a US resident cosigner? I have only heard of a loan for up to 10,000 of Bank of America for UVA international students without a cosigner. Please share your thougts as this has become a crucial issue to make a decision as to where I will be attending and any advice will be deeply helpful...

wannaadmit,
seems like I'm just followin u around! I've got exactly the same question. It's the main reason why my 1st choice right now is a lowly ranked school (if u believe usnews) when I could be going Ivy league...!!!! Some1 pls help!!!

I have a question:

If someone,international student,has a reliable US cosigner,willing to sign and all,and can get a full loan on everything,can someone give me some hint on when does payment start and what is the interest rate?

Is there a webpage with "Advice for Idiots"( I mean something really analytical for someone who is very very unfamiliar with such procedures)?

I am thinking,if I take approximately $45,000 as a loan(perhaps a lot less,but I am taking the worst case scenario),when will they approximately ask me to start paying it off,and how much will original sum have risen by then(and after that,on what rate will it continue rising)?

All the above,on a US cosigner status.Thanx so much to anyone willing to share info on previous experience with banks and loans :)))

According to their websites, the loan programs in general offer to start repayment 6 or 9 months after graduation.
Has anybody already taken a loan? Which loan program is the most advantageous?
To Emme: it may be that I have to borrow a rather big sum too. Do you think it is worth it? Are you absolutely sure that the LL.M. will give you the means to repay it? I just have some doubts when I see figures like 45 000 - 50 000....

Point is,Maria_Gri,that money never preoccupied me.I am not rich or something.Studies were so far paid for,public school,public university,no rent nor tuition and very small awards for other expenses,and I did not care for anything but being good at what I liked.

This gives me a rather weird attitude on financing education,I simply do not care what the sum is,it is only the means to what I really want to do.So,I think it would feel the same to me if it was $10,000 or $100,000,if there is a possibility to find the money without causing too much trouble to yourself and others.

When I started the applications' procedure,I was quite certain I wanted to pursue an LL.M. for a series of reasons,mostly of an academic nature.So,yes I am sure it is worth it,but I am sure as far as I am concerned.I mean it is a personal issue.

I knew it was not going to be cheap,I have known it all along and I came to terms with it.Now all I have to do is find the best way to borrow the money,the way that causes the least of a burden to my family.I truly believe I would have never started the applications' procedure hadn't I been sure it is worth it.And again I want to make clear,it is very much subjective what I am saying,it is my personal view of things,so it does not necessarily apply to others.

Point is:you know what you are about to do.How much do you want it?I think this will determine possible success,how good you ll be,which will make you more or less attractive in the job finding business.Therefore,you like,it is worth it.And a word of wisdom I heard somewhere:where there's a will there's a way.If you want it,you ll work it out.And I think then you have a shot at success.

Emme, I completely agree with your approach :)) But I've just spoken to an associate (an American) in the law firm where I'm doing my internship, and he said that the only thing the LL.M. proves is your knowledge of English and that you had money to do it. And if you have a scholarship - go for it, bit if not, it does not worth it. These words really worry me. It's been since almost two years that I want to do an LL.M., so much nerves wasted at choice of schools, applications, all the formalities etc.... I'm really obsessed with this idea so when smb tells me that it does not worth it... I hope it's just his personal opinion and that in other law firms an Ll.M. experience is really appreciated...

Hello,
The opinion of the associate of your firm is the one of my superior. To be totally honest, once you speak english, I'm quite convinced that to have an LLM and write it down on your paper does not actually bring you a lot. You probably shouldn't expect to be able to deal with American Law extensively after a 9 month LLM. However, on a personal point of view, it will demonstrate the fact that you're open minded, curious and ambitious. This can be appreciated by several firms. I hope that it doesn't disappoint you too much; an LLM is first of all an amazing human and intellectual experience, and that's the most important :)

It is SO worth it !!
I agree with Bitsou's post, it's worth it not so much for the knowledge on US law it'll give but for the human experience.
An LLM on your résumé tells a lot about your personality, and this is good, it tells that you're ambitious but also opened to others, tells that you're not afraid of leaving you're home sweet home to live new experiences, it gives you contacts and so many other things...
For your career as well as for you, I personaly think it's worth it!
Plus, you learn so much about yourself. For your

Sadly, what I have heard also concurs with Maria_Gri's associate and Bitsou's supervisor. I did my summer internship at a top UK firm in London - and the people I met all say that the most important academic qualification is your bachelor degree (both university and class of degree). The generally accepted view is that an LLM adds nothing to your career.

However, for my part, since I intend to ultimately return to Asia after working in London for a few years, the LLM would probably be more useful because Asian society is still very academic and paper oriented - the more letters after your name, the better! And qualifications from Oxford, Cambridge and Harvard do wonders in Asia...

I am at a large private firm now and am thinking of getting my LLM (probably Berkeley). I would agree with the person above who said it may not be worth it if you want to go into private practice (unless you are going for IP or to NYU for Tax), especially if you already are in private practice. I know lots of partners who have them and say that it was a waste of money. However, if you want to teach, clerk, work for a non-profit, or if you need a boost to get you hired into private practice, it may be helpful. I have noticed that if you go to a top ten school (even for an LLM), it is easy to get a job in middle america, and you will be very well respected in your office. As for financing, I am American so I can't help you with getting the loan, but I can tell you that I spoke with a loan officer today and my payment will be $770 (U.S. dollars) a month for thirty years. Granted, I will owe approximately $135,000 after getting my LLM. Currently I pay about $500 a month (for thirty years) and I owe $90,000. I hope this helps.

U guys on this board are just frightening me... It takes some thinkin to see that we don't all have the same orientation for undertakin the LLM nor similar perspectives. Some of us come from small, unknown countries and want to work in the global cities of the world. An LLM is the only ray of light that gives us that opportunity. It may not be too smart to spend 3yrs doin a JD or LLB when u already have one!
Whether one is willin to pay 700USD every month for the next eternity is however debatable. Surely, most of us from strugglin backgrounds will not take debts that keep us aground for such a long period.
When one sees that a good job at Allen & Overy or other top firm will lift a whole family out of despair for a generation (at least), it may be possible to see the sacrifice that an LLM justifies.
My final word is to follow the thinking that says 'it depends on how badly u want it'.
If anyone out there has a gen. pix of the loan structures with/without a co-signer, pls tell us. That we who are removed from 'positions of convenience' will surely be more agressive in making in-roads in life is definitely 'without a doubt'.
Thanks in advance!

Hi, I am a german law student closing in on finishing my degree. To enter into german top firms you ought to have a L.L.M. But this is only to prove that you speak English. In Germany a L.L.M. will bring you 5 000 - 10 000 € (ca.6k-12kUSD) a year more, I heard. So the top U.S. schools don't really do it without a scholarship when they cost up to 50 000 USD, personal view. Overall here it's your GPA that counts. If you meet that everything else just makes you more markeable. I want to do a L.L.M. as well (Tax/Banking/Finance/...) to specialize and to have more of that mentioned experience. After I spent a year in Stockholm as a foreign student I can only recommend going abroad.

If you are getting one in TAX, as in American Tax Law, then it is worth it. I've heard that the one in Securities is worth it as well. These programs give you practical knowledge. The LLMs in international anything and anything else are worth absolutely NOTHING!!! If you are an international student, you are NOT going to get hired because you did a stupid 9 month LLM in general legal studies.