Is Law School (and Its Loans) a Bad Idea?
“The news for would-be attorneys keeps getting worse,” begins a recent Forbes article titled Why Attending Law School is the Worst Career Decision You’ll Ever Make.
Is it true?
Between the debt you probably have to take on to attend and the difficulty finding a job once you finally become a lawyer, is law school no longer a good investment?
A quick excerpt from the piece:
According to analysis from the Wall Street Journal released yesterday, only 55% of class of 2011 law school grads were employed full-time as lawyers nine months after graduation. The other 45% may be unemployed, working at Starbucks or starting their own law school hate blogs. Couple this with declining starting salaries (they fell $9000 between 2009 and 2010) and the fact that 85% of law school grads are facing an average debt load of $98 500 and you can see why law school as a career path has taken a public lambasting in recent years.
This bit is also telling:
The message that law school is no longer a sure bet when it comes to employment security and financial prosperity finally seems to be sinking in for potential students. In the last two years, the number of law school applicants has dropped by almost a quarter and the number of LSAT tests administered by the Law School Admissions Council has declined by 16%.
So what do you think?
Is this Forbes author right on? Or is she overlooking major benefits of law school? Would you consider applying?
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