Law Schools, Quote of the Day, Student Loans

Is Law School No Longer Worth The Cost Of Attendance?

Getting a law degree these days is kind of like taking all of your money and burning it.

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Many prospective lawyers do not worry about this debt due to the false assumption that their future lawyer salary will quickly ease the burden of student loans. For most law graduates, this is not the case. Most lawyers who make enough to pay back large student loan debt are those with careers in “Big Law” at top law firms. This creates yet another ugly problem, as the reality of landing such a job is slim.

Recent statistics show that most “Big Law” firms only hire graduates from the top 20 law schools in the country. Your J.D. degree from a school ranked 54, and the hundreds of thousands of dollars you spent to get it, mean nothing to “Big Law” firms unless you graduated first in your class or know someone in the firm. What these factors add up to is an expensive degree that is worth far less than the time and money spent on it.

— Daniel Burns, an op-ed columnist for the Binghamton University Pipe Dream, explaining why getting a legal education may no longer be worth it thanks to its incredibly high cost.

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