Friday, October 29, 2010

Law School = The Second Mortgage

Don't get me wrong - I love the fact that I went to law school and became a lawyer. What I don't like is the prohibitive cost associated with it. You see, I was one of the lucky ones. I was able to zero in on and actually obtain the job that I really wanted. However, I know many fellow graduates who weren't so lucky. I think that law schools should be honest with their applicants about the probability of 1.) getting a job 2.) getting a job that will cover their monthly law school payment AND allow them a decent quality of life.

Outside of the legal news periodicals, not much is covered about the business of law schools. As a reader of a few popular law journals, I've learned about how the post-graduation job stats And a graduate's ability to use a law degree to practice something other an law is also not exactly...well...close to the truth. Its just that there are so many law school graduates and not so many top jobs. So the unlucky ones (i.e those unable to matriculate into top tier schools or unable to earn grades in the top of the class at a mid-tier school) are unable to do what they actually went to school for. Or pay back the bank for the honor of graduating with a law degree. I'm fortunate that this isn't my case. But it is for so many.

What's with the law school rant, you ask? I was just thinking about how I would reply if Baby D expressed an interest in law school. We're house-hunting right now and I just found it interesting that law school payments are usually about the same cost of a mortgage in most large cities. That's a little crazy, no? Food for thought, folks, when thinking about your career path. The large amount of debt you will incur should not be taken lightly.

Let's hope Baby D finds Business School to be more his speed!


  1. Very telling especially coming from an Attorney. It's nice to meet one so honest ;) Truth of the matter is these days one needs to be exceptional in various aspects in order to make a living. Because unless one stays at the top their entire lives, they could easily wind up doing an occupation they never expected to.

  2. This is true. I just wish law schools were better able to manage expectations.


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