Student Debts
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Biglaw, Bonuses, Federal Government, H. Rodgin Cohen, Money, Student Loans, Wall Street
An Oracular Utterance from Sullivan & Cromwell on Spring Bonuses
David Lat asked H. Rodgin Cohen of Sullivan & Cromwell about spring bonuses. What did Cohen have to say on the subject? -
Deaths, Football, Law Schools, LLMs, Morning Docket, Student Loans, Twittering, U.S. News
Morning Docket: 03.23.12
* Joe Amendola has filed a motion to dismiss the child sex abuse charges against his client, Jerry Sandusky. And if he actually thinks that’s going to happen, then he definitely needs to call 1-800-REALITY. [Associated Press]
* @AllenStanford’s motion for a #newtrial has been denied. The Ponzi schemer’s “conviction by journo tweet” argument has failed. Major props to Judge David Hittner for issuing a ruling in less than 140 characters. [Bloomberg]
* Everyone’s obsessed with the U.S. News law school rankings, but here’s a ranking that people should actually be paying attention to: the law schools that lead to the most debt. [The Short List / U.S. News and World Report]
* This defunct firm’s homeless Halloween party just won’t be as fun this year. Steven J. Baum P.C. has to fork over $4M to settle a probe over its alleged foreclosure abuses. [Thomson Reuters News & Insight]
* St. John’s Law is planning to launch two new LL.M. programs, neither of which is in tax. This is newsworthy because people will apply anyway, and then bitch about the “value” of their degree. [National Law Journal]
* John Payton, President and Director-Counsel of the NAACP Legal Defense Fund, RIP. [NAACP LDF]
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Job Searches, Law Schools, Media and Journalism, Plaintiffs Firms, Student Loans, Unemployment
The Latest News in the Law School Lawsuits
The litigation against law schools made the front page of Metro, New York's big commuter paper, this morning. What's the latest news?
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Biglaw, Job Searches, Job Survey, Rankings, Student Loans
ATL Survey Update: Great Unmet Expectations
Do law students have unreasonable expectations about their employment prospects? Survey says.... -
Bankruptcy, Law Professors, Law Schools, Money, Student Loans, Television, Videos, YouTube
Lawyers & Economics: Student Debt
Welcome to the latest installment of Lawyers & Economics, our occasional video series on financial topics by Professor William Birdthistle of Chicago-Kent College of Law. Today's topic isn't going away anytime soon. If you have -- or are thinking of taking on -- student loans, keep reading.... -
Biglaw, Job Searches, Law Schools, Money, Partner Issues, Rankings, Student Loans
Best Law Schools for Getting a Biglaw Job (2012)
Which law schools excel at sending their graduates into jobs at large law firms, i.e., Biglaw? Check out the National Law Journal's annual ranking of the top 50 law schools by the percentage of 2011 juris doctor graduates who took jobs at NLJ 250 firms. -
Law Schools, Public Interest, Student Loans
Yale Law School Makes It Slightly Harder to Get Loan Forgiveness
Yale is making a slight change to its low-income loan forgiveness program, and it’s going to make it a little harder for people who leave Yale Law School and take low-paying jobs. Now, this isn’t anything to yell and scream about. Yale is still committed to making loan repayment feasible for people who don’t take […] -
Bankruptcy, Law Schools, Money, Student Loans
There's No Easy Way Out Of Student Debt, But That Doesn't Stop Some People From Feeling Superior
Yesterday, my colleague Staci Zaretsky decided to make the case for why all the people who are dutifully paying off their law school debts should feel superior to those who default on their law school debts, or seek to discharge them through bankruptcy. As she wrote in her post, “Have I ever thought about filing […] - Sponsored
Early Adopters Of Legal AI Gaining Competitive Edge In Marketplace
How to best leverage generative AI as an early adopter with ethical use. -
Bankruptcy, Law Schools, Money, Student Loans
Not Even Bankruptcy Will Make Your Student Loans Go Away
More and more law school graduates are trying to seek bankruptcy protection from their mountains of student loan debt. Now, we know that reading comprehension is tested on the LSAT, but apparently, once students complete the law school entrance exam, that skill goes right out the window. How do we know? Because law school graduates, who freely signed up for student loans as law students, are now trying to shirk their repayment responsibilities.... -
Allen & Overy, Job Searches, Letter from London, Magic Circle, Student Loans, Unemployment, United Kingdom / Great Britain
Letter from London: Can Jobless U.S. Law Grads Find Work in Britain?
What happens when you put thirty American lawyers in a London pub where the drinks are free for the evening? Well, let’s just say it’s rather different to what happens when thirty British lawyers are assembled in equivalent conditions. The attendees at last week’s inaugural Benedict Arnold Society meeting for young and young-ish American lawyers […] -
Job Searches, Law Schools, Student Loans
If Lawsuits Fail, Unemployed Law Students Still Have the Self-Immolation Option
As you know, some people have taken to suing law schools because despite the education and expense, they find themselves unemployed. Suing people is such an American way of handling a problem. “Wahhh, your system took advantage of me and thousands like me. I’m angry. I’m gonna sue you, and even if I lose, it’ll […] -
Career Alternatives, Job Searches, Law Schools, Student Loans
What 'Can't' You Do With a Law Degree?
There's a really funny post up on Constitutional Daily, in which the protagonist -- who holds a J.D. from NYU Law and was laid off from Biglaw during the recession -- recounts his inability to secure a job at Target. It got us thinking of that other great lie that law schools tell incoming law students: "Yada yada, you can do anything with a law degree... also, I'd like to interest you in partial ownership of the Brooklyn Bridge." But many J.D. holders have found out the hard way that holding a law degree only opens doors to "law" jobs. They aren't degrees of general utility. If anything, they close more doors than they open.... -
Law Schools, Student Loans
Running a Law School Must Be the Best Job in the World
Businessmen never rob banks you can sell s*** and get thanks that’s what I learned from the Yanks — The Engineer; Miss Saigon. As we mentioned in Morning Docket, 80% of law students would make the same mistake twice. Sorry, that’s not fair: 80% of law students can’t admit to themselves that they made a […]
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Biglaw, Education / Schools, Job Searches, Law Schools, LLMs, Student Loans, Tax Law
The Value of the LL.M. Degree? Still Low
Every so often, people ask us about the "value" of getting an LL.M. degree. Our answer has remained pretty consistent. Is it a tax LL.M. from Georgetown or NYU? No? Then save your money and buy something valuable like gold or drugs. The National Law Journal made that EXTREMELY OBVIOUS point this week (again).... -
American Bar Association / ABA, Law Schools, Student Loans
Law School Professionals Want Bill Robinson to Put a Sock in It
When the story about the head of the ABA's tactless remarks broke, Elie had the good fortune of being in Washington, D.C., at the annual conference of the Association of American Law Schools. Law school professionals -- the people who have to deal with the perception of general ABA incompetence on a day-to-day basis -- were not at all happy with William Robinson's comments.... -
American Bar Association / ABA, Job Searches, Law Schools, Student Loans, Unemployment
The ABA Thinks It's Your Own Fault If You're Poor and Unemployed
William Robinson, the newly appointed president of the American Bar Association, is taking a stand on the status quo of legal education in our country. But instead calling for reform, Robinson is defending the ABA's role, stating that young lawyers "should have known what they were getting into." Isn't it wonderful to know that the man in charge of the ABA is essentially playing the "blame the victim" card when it comes to debt-saddled and unemployed law school graduates? -
Education / Schools, Law Schools, Money, Student Loans
Don't Defend Your Law School Until You're Earning Three Times Its Yearly Tuition
The National Law Journal reports that Jim Chen, Dean of the Louisville School of Law, has come up with an easy to apply salary figure to determine whether law school was a financially sound decision on a case-by-case basis. I'd like for people who constantly defend the value of law school to start pointing out the high salaried jobs that are needed to make law school worth it.... -
Job Searches, Law School Deans, Law Schools, Student Loans
The University of Chicago Law School Offers Detailed Employment Data; Will Other Schools Follow Suit?
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? 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? -
California, Elena Kagan, Immigration, Money, Morning Docket, Partner Issues, Pornography, SCOTUS, Student Loans, Supreme Court
Morning Docket: 12.13.11
* 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 […]
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American Bar Association / ABA, Federal Judges, Law Schools, Money, Morning Docket, Police, Student Loans
Morning Docket: 11.23.11
* 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 […]