Reply to Taking on Debt for Law School

Forum Index » College and University Discussion

Reply to "Taking on Debt for Law School"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]15-year law school graduate from a consistently (and still today) top 20 school but not T14.  Absolutely would not recommend the level of debt you described for law school.  If student could get into a top 5 law school, i might consider that much debt, but the student should be prepared to spend 5 years or so in big law to pay off that much loans and still live frugally.  Big law is pretty well a guaranteed option if you go to top 5 but not beyond unless you do very well in law school.

If student really wants to be a lawyer, then suggest going to a well-reputed school where student can get aid or scholarships to make it much less expensive.  Maybe $50K max in debt?  Do the math on how much the monthly payments are on a $50K student loan or a $100K student loan and what a non big lawyer salary would be.

I came out of law school a long time ago with only about $40K in debt because I got scholarship money, had some help from family, and school was cheaper back then.  (P.S. you can negotiate with law schools and they will up their scholarship offers).  Got good grades and a job in big law and paid off my loans in 2 years.  I am incredibly lucky that I did not have to stay in big law because I absolutely hated it.  I know tons of people who had no choice because of their loans and they were/are miserable.  And that's if you can even get a job in big law!  No idea what that even takes these days, but it's definitely harder now than it used to be.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics