Student Loans

If you’re a frequent reader of this website, you know that we continuously talk about the effects of law school debt and the need for tuition decreases so young lawyers can go on to lead normal lives after graduation instead of wearing their debt around their necks like slowly tightening nooses.

As time goes by, more and more law schools are starting to listen and reform — though in some cases, we imagine it’s only because they’re now feeling the pain of a decrease in tuition dollars due to low enrollment and smaller classes.

Until all law schools get in gear with the way things work now, we’ve got a list of law schools where life could be good after graduation. At these law schools, the average graduate has a starting salary that outweighs his average debt load…

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* Dan Marino was suing the NFL over concussions, becoming the highest profile former player to level a suit against the league. Among his allegations, he claims concussions led him to hold that ball laces in for Ray Finkle. Why do I say “was,” you ask? Because he claims he filed suit accidentally. No greater proof of the dangers of concussions necessary. [Awful Announcing]

* The Supreme Court used to gather in the basement and watch porn together according to Larry Tribe (affiliate link). Best anecdote is Justice Marshall narrating porn to the nearly blind Justice Harlan. You can spoil the ending for Justice Harlan here. [Washington Post]

* It turns out the Brits have their own obsession with law school rankings. Here’s their “league table” for a legal education. [The Guardian]

* You know not to wear a bikini to the firm pool party, but what should you wear to the other summer events? [Corporette]

* An article ponders when firms are going to figure out that recent law school grads are perfect paralegals. Thanks for that kick in the gut. [New Geography]

* Following up on an older story, the Fifth Circuit has withdrawn a ruling made in 2007 upon revelations that one of the judges involved had a financial interest in one of the parties. [Center for Public Integrity]

* Do we need more reasons why Bitcoin is stupid? Ah, it’s used in messy divorces to hide assets. Perfect. [Digital Journal]

* Debt collectors are increasingly giving up on calling you all the time and just seeking default judgments. [Huffington Post]

* From the SUNY Buffalo commencement, Judge Thomas Franczyk and graduate Joey Nicastro took the stage to perform a song for the occasion. Francis Malofiy is already planning to sue them. Video below….

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One thing I’ve learned as I get older is that most people are incapable of learning from other people’s mistakes. It’s just not something humans are good at, I guess. If you see somebody jump off his roof and impale himself on a fence post, the human reaction seems to be “Wow, what a stupid place to put a fence post,” not, “I’M NEVER GOING TO JUMP OFF A ROOF.”

Everybody thinks that they can do it better. That impulse probably helped us go from stone tools to weapons of mass destruction, but it’s also what helps unaccredited law schools stay in business. Whatever, it all ends in radiation poisoning.

Which brings me to the story of a former student loan debt collector who heard countless stories from people drowning in debt with degrees that turned out to be useless. Armed with that information, she turned around and took out $40K to go to an unaccredited, online law school in California. I feel like I’m taking crazy pills…

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‘We traced Sallie Mae’s call. It’s coming from inside the house.’

What happens when you go to law school and your classmates are all d-bags? What happens when all of the partners at your firm are a-holes? Or worse yet, what happens when you graduate from law school in a down economy? What happens when you aren’t able to get a job as a lawyer, yet you’re haunted day and night by student loans? Sometimes the answers to these questions are truly frightening.

We were inspired to curate responses for this post after reading some short scary stories:

If you think that only a good horror book or movie can be scary you are probably wrong. The following two-sentence [messages] prove that even the shortest stories can give you goosebumps.

Keep reading, if you dare…

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Another school has surveyed the landscape of legal education over the next several years and recognized that, to paraphrase Jimmy McMillan, the tuition was too damn high. Reduce the sticker shock and get a leg up on peer institutions. And most importantly game the ATL Rankings in the process.

This is not the first school to take steps to cut back on tuition, but a school making this kind of significant cut sends a signal to its peers that the game has changed and the new blueprint is, well I don’t want to say “value” because you’re still sending students into an uncertain job market, but at least “bargain hunting.”

So who joins the ranks of tuition-slashing institutions?

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Justice Antonin Scalia

[I]f law school is to remain three years, costs have to be cut; the system is not sustainable in its present form. The graduation into a shrunken legal sector of students with hundreds of thousands of dollars of student debt, nondischargeable in bankruptcy, cannot continue. Perhaps — just perhaps — the more prestigious law schools (and I include William and Mary among them) can continue the way they are, though that is not certain. But the vast majority of law schools will have to lower tuition.

– Justice Antonin Scalia, in his commencement speech at William & Mary School of Law. More highlights from Justice Scalia’s remarks, after the jump.

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* 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.

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