The National Law Journal
December 12, 2011
http://www.law.com/jsp/nlj/PubArticleNL ... slreturn=1
You've graduated from law school. You've landed a job as an attorney. Now you want to buy a house and cement your status in the professional class.
But can you afford it? Probably not — unless you can count on earning three times your annual tuition, assuming you're borrowing the money.
That's according to University of Louisville Louis D. Brandeis School of Law Dean Jim Chen. In an academic paper, "A Degree of Practical Wisdom: The Ratio of Educational Debt to Income as a Basic Measurement of Law School Graduate's Economic Viability," Chen uses qualification for a home loan while paying off student debt as a measure of whether a legal education makes economic sense. (click link for the rest of the article)