It used to be that attending law school was about the best investment a young adult could make. The JD degree provided security and employment opportunities far surpassing many other graduate degrees. Oh, but the times are a changing.
Lately, the blogosphere is chalk-full of caution to those considering a legal education. Above the Law’s Elie Mystal has been issuing these warnings for months, but now the American Bar Association has weighed in. The ABA’s paper warns that far too many students expect a law degree to solve their financial problems for life, yet the reality is that “attending law school can become a financial burden for law students who fail to consider carefully the financial implications of their decision.”
The mainstream media has also taken note. Two years ago the New York Times noted a study on the rising cost of law school combined with declining legal job prospects. Now CNBC, the Atlantic and Outside the Beltway are chiming in.
I reported about my LSAT experience a week ago, and I noted that some undergrads I spoke with were applying to law school mostly just to pass the time for the next three years. That might not be the best justification for law school these days.
As someone currently applying to law school these articles are downright frightening. Especially, considering I have a wife and a one-year old who I must support. But Elie Mystal, I will still drink the law school kool aid and hope that I can buck the odds and make the return on my JD a worthwhile investment.