Why law school is a waste of money unless you get into a

[v]

... top school.  

I just overheard this video while my husband was watching it.  From Business Insider (which, ugh), and some of it is a duh but I think the statistics are interesting and the advice is pretty sound.

www.businessinsider.com/law-school-worth-time-money-analysis-2015-9

[kittenponypony]

Interesting. I wonder how this fits in to a most recent NYT story about how the student loan borrowers who borrow the least are the most at risk for defaulting since many never achieve high paid employment that those with graduate degrees often do. Maybe the 7 percent of graduate borrowers who default are disproportionally those with law degrees.

www.nytimes.com/2015/09/01/upshot/why-students-with-smallest-debts-need-the-greatest-help.html

[v]

Sept 2, 2015 20:43:48 GMT -5 kittenponypony said:

Interesting. I wonder how this fits in to a most recent NYT story about how the student loan borrowers who borrow the least are the most at risk for defaulting since many never achieve high paid employment that those with graduate degrees often do. Maybe the 7 percent of graduate borrowers who default are disproportionally those with law degrees.

www.nytimes.com/2015/09/01/upshot/why-students-with-smallest-debts-need-the-greatest-help.html

You can lose your law license in some states if you default on your student loans!  I hope the defaulters (in those states at least) aren't disproportionately lawyers!!!

[tacosforlife]

So basically I was a dumb-dumb for passing up some higher rated schools for the one I attended.

 

[midwest07]

These studies always seem too general for me and don't account for geographic differences. Yes, if I lived in NYC/LA and a few other major metro areas and wanted a top law firm job, I better go to a top school. However, where I live, there are at least 10 biglaw firms (either HQ here or have large satellite offices) and you probably have as good of a chance to get hired if you go to a top school or if you go to one of 3 state schools around here. The state schools give you an automatic local network and tend to show that you have interest in staying in this area and building a practice. Someone from a top school, especially if they have no connection to the area, may have a harder time - but they would presumably have choices elsewhere. If you know going into law school it's your goal to stay in this area and work, then I wouldn't generally recommend paying a lot more to go to a top school.

ETA: One caveat - you need to do well at the state school if you want a biglaw job locally - whereas you could probably more easily get a job just having graduated from a top school.

[niq]

I think the message has gotten through. Applications and matriculations are way down, several low-tier schools have closed or laid of faculty, admissions standards and now bar passage rates have declined

www.bloomberg.com/news/features/2015-08-20/are-lawyers-getting-dumber-