The article is a bit overstated. First, what the heck did this guy do to rack up $250,000 in student loans?? Did he go to NYU or Columbia and live in Manhatten, and just live it large? I call shmuck, right there.
The author is also right about starting median salaries being $160,000. Not "starting" "median" salaries. Starting median figures are probably closer to $50,000, once you figure in public defenders, public interest, etc. First year salaries for Big Law firms are $160,000, but that's not median for the profession for first year lawyers. That's top 10% of the first year class. Maybe the author didn't understand the statistics.
A typical law student comes out of law school with about $100,000 in debt. Any "mediocre" law school that costs $40,000 per year is a school they shouldn't have gone to without a scholarship. The University of Texas, a top 20 school, only costs about $10,000 in tuition per year for in-state students, and isn't terrible difficult to get into (you need a 170 on the LSAT - tough, but not unobtainable). Go to a good state school that is ranked well and has a good regional reputation, like the University of Utah, and you'll save and get a good education, and get a good job. Don't expect to make a mint as a lawyer, most don't, and live like a student while in law school, don't try living like a lawyer before you get to be one.
Mr. Big Debt probably went to a fancy law school with big tuition bills, in an expensive locale, lived big and got shitty grades. And now can't get a job that will pay his bills. Can't feel sorry for him. |
