Ragged wrote:Very interesting thread, lots of good comments.
To answer the thread's question: yes, I was freaking out for a while there, espessially after reading JDU forum. Now my plan is that if I don't get into T5 this cycle I will retake LSAT next September and reapply next cycle, whether or not I get a better score. Will probably go to LS regardless.
Now I will probably end up at atleast a T10 LS, which I figure puts me at the top 5% of all LS graduates automatically, thus eliminating tones of competition in the market. My parents will try to help me lift a part of the cost, but I will probably need to take some debt out to pay for the rest. It shouldn't be too bad though, so I'm not too worried about that. Also, I am fluent in one foreign (to me native) language and convresant in two more, which I figure gives me a leg up in the area of international law and gives me an opportunity to work abroad. Plus hopefully I will get an MBA as well, which should further increase my marketability. Also, my ungergrad major is not worthless (accounting/finance), but actually works really well in combinaiton with a JD (or so I hear). So, now that I think about it, it would be a shame to waste this opportunity, even with the way things are looking in the market. So, I am most probably going, this cycle or next. I figure no matter which field you enter you are gonna have to bust your balls to succeed, law is no different.
200+ LS in the country is crazy I agree, but as long as there are oblivious liberal art majors who think that going to a TTT LS will make them rich, its going to stay that way. Each LS is like a business. As long as there are customers the business will keep on selling the product, no matter how useless. I agree with bluejayk that loans should be made dischargeably to make schools think twice before giving out tones of debt to students who might never pay it back.
Cutting accreditation from bottom tiers is a dream for any lawyer, but will not help the profession. Once there are less schools, law salaries will go up, making law more attractive, attracting even more students to the field, which will result in either more schools getting accredited or tuition in current schools becoming absurde (or even more absurde than it already is), untill law is no longer that attractive. Its econimics, its inevitable.
My feel is that once people figure out that being a lawyer is not an easy way to get rich the flood to law schools will subside, market forces will take over and profession will stabilize at an optimal level, where lawyers still make a good amount of money and general public will have access to legal advice at a reasonable price. The current bubble will burst sooner or later.
What pisses me off most of all is that many of the TTT schools don't give a shit that their students are paying 30k a year and will end up being jobless and drowning debt. No, they continue to peddle their bullshit salary/employment statistics, intentionally misleading applicants. Look at Cooley, for example, it has it's own ranking system where it is ranked in the top 14 with a bunch of ivy league schools. How in the hell does the dean of admissions live with himself by trying to weasel any and all money from the student body so that he can more money for the school.
Yes, I realize that law school applicants should be privy to the scams TTTs pull, but many are not. Many have never been on TLS and don't realize that the employment/salary statistics are not accurate. They have never been on JDU and seen how bad their prospects actually are. So, it is the law school student's fault for not doing his/her research, but it still doesn't make it right for law schools to commit fraud.