David Segal published a piece at the New York Times today that started with this sentence: “IF there is ever a class in how to remain calm while trapped beneath $250,000 in loans, Michael Wallerstein ought to teach it.” Guess how this Mr. Wallerstein ended up in such financial woes: bad stock investments, subprime housing, or toxic mutual funds? No. He went to three years of law school and now has no employment prospects.
This is another scary article coming on the heels of other mainstream coverage about the rising costs of law school coupled with the lower availability of jobs for new attorneys.
As someone who is starting law school next year, I think it is time to put on the blinders and ear muffs.