rman1201 wrote:Thanks guys! That seems pretty similar to what I was getting at.
I guess for me its a decent investment - I'm making $24k a year and I'll be attending a T25. And I've grown up in a household with a single mom with a double bankruptcy, so it's not like dealing with poor credit (due to the ls debt) will be anything foreign to me. Meh. Law school it is.
If you're still listening, my advice is to contact the school directly and ask to see data for the Class of 2010 before you commit to going. It may justify taking a year off to save up some more or build some connections so that you don't end up with six figures of debt and no job prospects in the legal sector. Dean van Zandt's comments aside, most people familiar with these issues would not argue that T25 schools are a good investment at sticker price right now, which is why you need to review the actual employment data before you make that call for yourself. If nothing else, seeing a list of employers will let you take a closer look at all of the public interest, government, and small firm gigs that go largely unreported so you can see whether it's the sort of work you're interested in pursuing.
I won't go so far as to say that bankruptcy is actually a better situation than having student loan debt, but it's really important to remember that you can never discharge the debts you will take on to finance a JD, even if you can't find legal work and need to return to your former employment making 24K. BU, as with every other ABA approved law school, will be finalizing their data for the Class of 2010 next month. At that time I strongly recommend you contact them asking for a complete list of employers, or at the very least the number of graduates working in legal jobs, 25/median/75th salary stats for the private sector, and the number of students in the private sector who reported those salaries.
Either way, g'luck in your endeavors. Plenty of people assume these risks each year and some will see it work out, but the vast majority are going to wonder why they didn't try harder to demand actual employment information so that they might have chosen a better-suited school. LST wouldn't exist were it not for this point.