Mr. T wrote:General, I think the "We have all lost" statement is true. But, are any of those professions asking its people to take on an additional 100,000 in debt before earning a dime? I mean, a farmer can work the land....what can a lawyer do when its all said and done - he can't even get prepared to take the bar exam during law school and must teach himself (for an additional year - more debt) before he can attempt it.
This is a cautionary piece and nothing more. You can defend wanting to go to law school and becoming a lawyer all you want.
Truth be told, our economy sucks, the dollar is on its way down, the unsavory fiscal practices of this country have us dangling on edge and college / graduate school debts could be the next bubble to burst.
My family discouraged me to go to college for a lot of those reasons. The fact is that a bachelors from a non-elite school isn't going to get you get a whole lot more money right away -- any benefit will be a few years away. The thing is though over a lifetime it does pay off, just ask the 65 year old guy still braking his back on a roof in below freezing temps.
But... farming is way worse than law. Land ain't cheap and the investment has much longer time horizons before someone is in the black (100,000 won't buy you much income as a farmer).
I think the problem is these days is that people expect above average income without above average risk and work. Yeah, getting a law degree is risky, even at the top schools, but if it was easy and without risk, everyone would do it. That isn't to say a law degree is a great investment but most people will probably come out ahead in the long run.