Posts Tagged ‘student loans’
Law schools have not always been entirely honest about employment statistics, including post-graduation employment rates, starting salaries, etc. Now, they’re beginning to let the reality slip out.
The news for would-be attorneys keeps getting worse. According to analysis from the Wall Street Journal released yesterday, only 55% of class of 2011 law school grads were employed full-time as lawyers nine months after graduation. The other 45% may be unemployed, working at Starbucks or starting their own law school hate blogs. Couple this with declining starting salaries (they fell $9000 between 2009 and 2010) and the fact that 85% of law school grads are facing an average debt load of $98 500 and you can see why law school as a career path has taken a public lambasting in recent years.
Why the suddenly dire news? Forbes can fill you in:
There’s a good reason that the WSJ’s data – based on figures from the American Bar Association – may seem shocking. It marks the first look at employment figures related solely to jobs requiring a legal degree and passage of a bar exam. Previously, law schools reported employment rates that counted all of their grads with jobs, regardless of whether they were working at a white-shoe firm in New York or teaching ESL in Taiwan. These misleading stats have actually been the subject of class-action lawsuits against 15 law schools filed by recent grads who allege that the schools used deceptive post-grad employment numbers to boost their rankings and attract more students.
Law school is now kind of like tobacco. The companies have been less-than-candid about certain key facts, such as whether or not their service is a worthwhile investment of substantial time and resources, or whether their product will fucking kill you. Now that the cat is out of the bag, there are no more excuses. People who smoked before we were all inundated with warnings about the dangers of cigarette smoke had a point in some of their lawsuits. People who smoke today have the benefit of much more information. Yes, I know it is hard to quit, but the evidence of why it is important to quit is out there. Now, people who are considering law school have some new information to factor into their due diligence.
Our elders may have told us to stay in school to have a better life, but we’re seeing more and more that this is pretty much bullshit.
Losing Their Immunity (Paul Krugman, New York Times)
Student loan debts crush an entire generation (Salon)
Republicans Channel Their Inner David Cronenberg (Open Salon)
The liberal class has become a useless and despised appendage of corporate power and all hope lies now with those in the street (And, yes, I DO take it personally)
They always whine when they see the pitchforks (Brilliant at Breakfast)
Police: Teen girl forced to wear armor, swordfight stepfather (MSNBC, in today’s WTF? entry)