What basis do you have for saying 75% of USD students will be impoverished? The 2009 employment statistics:http://www.sandiego.edu/law/careers/stu ... t_data.php
Very detailed and very much in contrast with your statement. Do you guys just make this stuff up sometimes?
The blind elitism on this board is repulsive sometimes.
Sure, lets do it.
That 96% employment number is BS. If you take away the non-reporters and solo practitioners, their employment rate after 9 months is 81%. That's still not that bad for a T2 ITE, but its important to note. Plus another 6% went back to their own employer. Not good times to go into debt just to go back to your old job.
There is also another 8% of people who are listed as "academic". That's a very broad category, and at USD, its virtually impossible to get a legal academic placement straight out of law school. So that means its high school teachers, people taking out yet more debt to get some other degree, or most likely the school creating fake work to trump up their admissions stats. Its actually very good of the schools to do that to help some of its students buy time to look for jobs, but it still ain't paying the bills.
So that's 33% that certainly count as "impoverished". We'll have to deal with a definition of "impoverished" from there. How about we say someone who can't pay their loans at sticker (~180k) and has to rely on IBR, and after taking 10% of their income off the top for IBR is bringing home less than 50k pre-tax. With California taxes and cost-of-living, that's pretty low wages.
So that category takes out half the government jobs, all of the public interest ones (at least these students probably knew what they were getting themselves into), and half of the clerkships (that means any clerkships btw, these people are not clerking for article III judges I assure you, at least not more than half of them.)
We're up to 43%
Now, the private sector salaries. There's two things they aren't telling you here:
1. The percent of the 164 private sector graduates that actually reported salary numbers. There is rampant anecdotal evidence that the non-reporters are making less money, which is fairly intuitive as well. Deplorable TTT's often have response rates of about 40%. Reputable schools are usually more like 80%. We'll give USD the benefit of the doubt. Still, that's 10% more in the "impoverished" category.
2. They give you the "mean" instead of the "median". This is deliberately deceptive, because the high-end salaries drive the mean up. There are very few students actually making between the $76k and $104k you see in the medians. Those first two categories have at least half of their students below our line. There are probably two or three in the third category as well. That's 43 more, or 13%.
Before we add it all up, you'll notice that there what looks to be about 35 or so honest-to-goodness Biglaw lawyers. Probably one or two of the clerkships and a couple of the government workers are looking at well-paying and successful futures as well. That's about 15% of the class, which again, is pretty impressive for a T2. But I would bet my wallet that those 15% are disproportionately the ones with large scholarships who now not only have the big earning potential, but also don't have as much debt to pay off.
They have been subsidized by the 66%
of the class who falls in our "impoverished" category who is relying on IBR to pay back their loans and who is bringing home a salary that is very modest for the area they live in. And as I said above, the sticker-payers are disproportionately in this group.