Student Loans

* When people tell you that you can do anything with a law degree, they’re wrong. Sounds like… everything Elie writes. [Slate]

* Student debt is dragging down the economy. Is today “every news outlet catches up with Elie Day”? [New York Times]

* Everyone’s also talking about the law student turned prostitute. What about the law professor who was a gigolo? [The Nota Bene]

* Baker Hostetler lawyer leaving the law to start a gym. With any luck he’ll have a championship dodgeball team in no time. [Crain's Cleveland Business]

* Just a reminder, there isn’t a “telling a university everything you’ve done for an oral history” privilege. [BBC]

* An argument for Republicans to get serious about loosening the reins on technological innovation like the Republican Party of old. But that might require saying no to some billionaire donor, so that’s off the table. [The American Conservative]

* Professor Will Baude pointed us to a fun new law professor blog from Professor Richard Re, soon to be of UCLA Law, with an even more fun title. Here he compares Justice Sotomayor’s dissent in Schuette to Quidditch. [Re's Judicata]

* A new show about law school. It’s supposedly about criminal law, but the trailer looks more like a professional responsibility fact pattern. [YouTube]

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Some people go to law school not in the hope of making buckets of cash, but to bring justice to their communities. With long hours and low pay, being a government attorney is a noble pursuit. The catch is that some of these poor souls didn’t know just how poor they’d actually be.

To that end, they certainly didn’t expect that they’d be paid a lower salary than the courthouse custodian, and they had no clue that they’d be members of the working poor.

Which state is allowing entry-level government attorneys to live in squalor?

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‘My married life was so ruff before law school…’

I’ve been married 37 years. I know how to argue. I want to learn how to win.

– Nelson Bauersfeld, a third-year student at Syracuse University Law, revealing just one of the reasons he decided to go to law school as a retiree in his 60s. The 65-year-old, who debt-financed his entire legal education, will graduate tomorrow.

;So if I take out $159K in loans, and my job pays $160K, I’ll be paid off in a year!’

I did the math and I’m willing to go to school for 3 years after my undergraduate to make 6 figures out of law school.

Cadillactica Pimp, the Twitter handle of an aspiring law student featured on Law School Lemmings. I’m sure Cadillactica will earn a stellar education at whichever YHS program the Pimp chooses.

Last night, we published the second annual Above the Law: Law School Rankings. Please enjoy them. But use them responsibly.

I’m the official “rankings hater” around here, and that hate extends even to rankings that I helped design. There is some useful consumer information in the Above the Law rankings — but it’s also important that consumers understand what is not here, what we didn’t do, and what our rankings can’t tell you.

Let’s talk about that. Let’s talk about what’s wrong with our rankings…

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Back in March, we brought you news on the law schools with the most heavily indebted graduates. It was quite shocking to witness the depths to which these poor souls went to finance their legal educations. Take, for example, the average graduate from Thomas Jefferson School of Law, who has $180,665 in debt — and also has a 29 percent chance of working as an attorney nine months after graduation. That’s absolutely terrifying.

But in a world where the average class of 2013 law school graduate carries a debt load of $108,815 (up from an average of $108,293 for the class of 2012), there must be a few schools out there that won’t destroy a would-be lawyer’s financial footprint forever.

Which law school graduates have the least debt of all? U.S. News has a ranking for that…

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* For the third year in a row, Skadden has topped the list of the Biglaw firms GCs love to pay, the firms with the best brands. Kirkland & Ellis and Latham & Watkins rounded out the top three. Congratulations! [PRWeb]

* A federal judge struck down Wisconsin’s voter identification law yesterday, noting that it “only tenuously serve[d] the state’s interest in preventing voter fraud.” Ouch. Sorry about that, Scott Walker. [Bloomberg]

* Hot on the heels of the release of the second annual ATL Law School Rankings, we’ve got a list of the law schools where graduates reportedly have the least amount of debt. We’ll have more on this news later today. [The Short List / U.S. News & World Report]

* It was kind of like the night of the living dead in Oklahoma last night, where an execution was botched so badly the defendant attempted to rise up off the table. That must have been horrific. [New York Times]

* Here’s an eligible bachelor alert: After being suspended from practice for six months for filming “upskirt” videos of women in public, this in-house lawyer has been reinstated. [Legal Intelligencer (reg. req.)]

* Poor Justice Lori Douglas. Not only are her kinky S&M pictures floating around somewhere online, but the man who took them — her husband, Jack King — just died. RIP, good sir. [CTV Winnipeg News]

* NBA Commissioner Adam Silver, a former Cravath lawyer, fouled L.A. Clippers owner Donald Sterling out of the league, but people are questioning whether his punishment was legal. [WSJ Law Blog (sub. req.)]

* Cheerios is claiming that “Liking” them on Facebook constitutes a waiver of the right to sue. Let’s take this moment to encourage everyone to Like Above the Law on Facebook. [NY Times]

* New study determines that the United States is an oligarchy instead of a democracy. You’re telling me that a government explicitly founded on the principle that only a handful of wealthy men should have a voice grew into an oligarchy? Quelle surprise! [UPI]

* Oh look, John Edwards is back. [Slate]

* In the continuing saga of NYU’s allegedly shady spending, there are now reports that former NYU Law Dean and current NYU President John Sexton used school funds to convert two apartments into a duplex for his son. His son was married to an NYU Law employee and as I’ve said before, a school located in housing-scarce Manhattan should be able to do something to house professors, but as they say, “the optics” aren’t good. [Chronicle of Higher Education]

* Musings on what it’s like to clerk in the midst of “flyover country” (presumably like my early childhood home of Des Moines). It makes a valiant effort to redeem itself at the end, but this article is exactly why most parts of the country think New Yorkers are elitist dicks. Which, we kind of are, but you don’t want to broadcast that. [Ramblings on Appeal]

* The government is profiting handsomely from law students. Is that really a bad thing? [Law & Economics Prof Blog]

* A D.C. law professor is now a movie star. [Washington City Paper]

* The judge in the New Orleans Affordable Housing case may know the real identity of one of the anonymous commenters in the case. And if one of the anonymous trolls was a federal prosecutor poisoning the well in the case — like everyone suspects — it could aid the defense. [Times-Picayune]

* For those of you across the pond, there’s a one-day event for lawyers on the business case for Corporate Social Responsibility. It’s in England because American companies have already passed on the idea of corporate responsibility. [International Law Society]

Back from the big NALP conference, back from Seattle, happy to be back in New York City. The five boroughs came up a lot at the conference thanks to the big move by Brooklyn Law School to cut tuition by 15% next year.

If I may summarize the reactions from other schools about Brooklyn’s cut (I’m paraphrasing):

  • F**k those motherf**kers. It’s still super-expensive. Go STATE!
  • Actually my school did something very similar. [Elie explains why their school is not similar.] Well, that’s just your opinion, man.
  • Can somebody wake me up when Yale does it?

I expected that other schools would be a little annoyed with Brooklyn. Schools are already facing a financial crunch given the sharp drop in new law students; not many want to take on the additional financial burden of across the board rate reductions. I recently appeared on CNBC with Brooklyn Law Dean Nick Allard, and he explained that Brooklyn Law sold off some of its capital assets to afford this. I noted that not every school is in the position to do that.

But I didn’t expect some prospective Brooklyn Law students to also bitch about the reduction. I guess when you expect dumber people to subsidize your education, having that taken away from you is jarring…

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As we mentioned in Morning Docket, one New York law school just decided to cut its yearly tuition by a whole lot — 15 percent, actually. That’s right: a top 100 law school is reducing its tuition, across the board, in a move that will take it from being the second-most expensive private law school in New York City to being the cheapest of its kind.

Of course, by “cheapest,” what we really mean is “still prohibitively expensive,” but at least it’s a step in the right direction. Perhaps this is a trend in the making for the rest of New York City’s law schools.

So, which law school is helping its students take on a little less debt?

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