Student Loans

The battle for greater law school transparency, for more accurate and complete information from law schools regarding the jobs obtained (or not obtained) by their graduates, has many fronts. Some advocates for transparency work through organizations, such as the Tennessee non-profit Law School Transparency. Some have turned to the political process, where the issue of transparency has attracted the attention of several United States senators. And some have looked to litigation, suing law schools for providing allegedly misleading data about post-graduate employment outcomes.

Here’s an interesting idea: what if law schools just started posting comprehensive, accurate employment data on their websites? On a voluntary basis — not compelled by politicians, lawsuits, or the American Bar Association (ABA)?

Wouldn’t that be great? And wouldn’t it be helpful to prospective law students trying to decide whether it’s worth investing three years of their lives, and a large amount of (often borrowed) money, to pursue a law degree at the school in question?

Take a look at what they’re now doing at the University of Chicago Law School. Could it perhaps serve as the model for law school reporting of employment data?

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No glove, no love.

* The Supreme Court will hear Obama’s challenge to Arizona’s immigration law. Upside: we can probably expect a decision by June. Downside: Lady Kaga has to sit her ass out. [New York Times]

* Depressing fact of the day: unless you’re earning six times your law school’s annual tuition, you’ll probably never be able to afford a home. Thanks a lot, student loan debt. [National Law Journal]

* Wilson Sonsini has announced its 2011 partnership class. Of ten new partners, only three are women. At least they’re beating Cravath’s partnership diversity scale. [DealBook]

* Los Angeles is suing to block an initiative that would force porn stars to wear condoms. Why? It wastes taxpayer money, and would be disastrous to spank banks nationwide. [Courthouse News]

* Stephanie Van Groll may be the “tall, young, hot nymph” whose sexting lawsuit against Kenneth Kratz survived a motion to dismiss, but he is still the prize. [Appleton Post-Crescent]

Last week, we asked you to pick your choice for the worst law school in New York. It turned out to be one of most active polls on the site. So many of you had strong opinions.

Your choice for the worst law school was overwhelming — so strong that one would hope that the administration would notice and do something to improve the school’s reputation in the community.

But the battle for the worst school in the five boroughs was heated. Let’s check out the results….

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* Apprenticeship programs sound great (especially to Lat), but will they help you to become a lawyer? Of course they will, but only if you don’t mind failing the bar exam a few times. [National Law Journal]

* According to the Bureau of Labor Statistics, 100 jobs were added to legal sector in November. Cue unemployed lawyers singing: “Santa baby, slip a law job under the tree, for me?” [Am Law Daily]

* Things you can sell as a practicing attorney: your soul, your dignity, and your standards. Things you can’t sell as a practicing attorney: babies (but it sure is a great way to abort your career). [Daily Mail]

* When you earn $1.50 in attorney’s fees, it’s just not worth it to be nice. Something to remember before you take out six figures of loan debt to become a public interest lawyer. [Wall Street Journal]

* A lesson to be learned by all mothers-in-law: you do not question a man’s sexual prowess, even if there’s a chance that he might be shooting blanks. [New York Post]

Ya ni panimayou?

* Time to separate the men from the boys (but don’t tell Sandusky). An accuser has hired Jeff Anderson of clergy sex abuse fame, and he wants damages. [Wall Street Journal]

* RajRaj is trying to stay out of jail. He thinks he’s got a shot at getting his Galleon convictions vacated, but he’s probably got a better shot at curing diabetes. [New York Law Journal]

* And speaking of Galleon, lawyers, take note: “you don’t get a pass.” Ex-Ropes & Gray attorney Brien Santarlas was sentenced to six months in jail yesterday. [Bloomberg]

* Emory Law has invented a new way to throw loan money in the garbage. At the bargain basement price of $45K, how could you resist? [National Law Journal]

* Twenty people have been charged with luring illegal, eastern European beauties to work in New York strip clubs. Prepare for some new job listings from the NYU Law career services office. [CNN]

* The American Bar Association can’t handle law schools, yet Obama trusts them to vet potential judicial nominees. Well, seems like they’re doing a bang-up job with that, too. [New York Times]

* First the New Jersey bar exam results, and now more MF Global drama. Angry investors want to know if a lawsuit will help Jon Corzine remember where he put the missing $600M. [Bloomberg]

* Law school debt increased by $475M between 2008 and 2010. Grab a raincoat, because this bubble’s going to burst soon, and it’s not going to be pretty (except for Cooley Law; they’ll be rich). [Am Law Daily]

* And on that note, what on earth was Cornell Law thinking? Did they fail to realize that their Cooley rankings would plummet if they decimated their library square footage? [Cornell Daily Sun]

* UC Berkeley: “We never like to hurt our students.” Yeah, apparently that’s what the police are for. Occupy Berkeley protesters are suing the school over police brutality allegations. [Huffington Post]

[L]aw school is a very risky (and expensive) investment; it should not be entered into lightly…. [E]ach potential student’s calculus will be based on a host of factors unique to him or her. For some, like an English major (relatively low opportunity costs) who gets some scholarship assistance (somewhat lower out-of-pocket costs) to attend Harvard Law School (relatively high pay-off), the investment in a legal education is almost surely a no-brainer.

– Professor Herwig Schlunk of Vanderbilt University Law School, in a new working paper entitled “Is a Law Degree a Good Investment Today?”

(Additional excerpts and discussion, plus links, after the jump.)

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How screwed up is legal education these days? One mainstream publication recently published an article suggesting law students should be paid to not go to law school, while the paper of record noted that nobody learns how to be a lawyer in law school anyway.

That’s what it’s come to, folks. Can you imagine Slate, which is owned by the Washington Post, publishing an article suggesting that we should pay M.B.A. candidates to stop going to business school? Can you imagine the New York Times publishing a feature article about how medical students don’t learn anything in medical school?

Welcome to law school, the red-headed stepchild of American professional schools….

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Back in August, we reported on National Jurist’s fifth annual list of the 60 Best Value law schools. The Best Value ranking system takes into account the following criteria: in-state tuition, average student debt, the percentage of graduates employed nine months after graduation, and bar passage rates.

Two months ago, the list was unranked, but the final tallies for the honor roll have now arrived. As in years past, in addition to the rankings, National Jurist has given letter grades to the rest of the schools on the list, ranging from A- to F. Wouldn’t you hate to be a student or an alumnus of a law school with a failing grade?

Check and see if your school made the grade, after the jump….

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Whenever I ask law school deans to explain their BS employment statistics, they just shovel more BS my way.

But maybe if students themselves asked where these figures come from, they’d get some straight answers.

One student, at a law school that at this point is undisclosed, asked her dean why the school’s employment statistics were clearly misleading. And it looks like the dean broke things down for her.

She used the information to tell another story of the 99%….

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