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Monday, January 10, 2011

For many Law School is a losing proposition

This is an excellent article in the NY times yesterday about the payback for Law School. The tragedy is not just that so many of these students are investing so much in a field that is such a long shot but for many of these students they are doubling up on a poor undergraduate college investment where they studied subjects like Art History, Sociology, or Psychology.

It is not uncommon for a recent college graduate in Medieval German with no options for related work to fall back on attending graduate school, where she can postpone the immediate obligation to pay off the prior college debt. So on top of $50,000 of undergrad debt, the recent grad keeps digging a little deeper into debt and three years later owes another $150,000 for Law School loans. Now she has an undergraduate Law Degree to completment her Gender Studies degree and absolutely no ability to pay off the loans.

We really do need some truth in advertising on this subject.

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