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Law School is a sham

leftcoastdeac said:
Interesting that a guy who defends people that can't/won't pay their bills can pull in that kind of money.
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Its contingency. Basically an ambulance chaser going against big banks instead of big insurance.

All you really can do is buy time or possibly win some damages. You don't get out of your mortgage.
 
WRS said:
One of my good friends just moved in house for us doing lending transactions. He moved from a shitty 6-8 person boutique run by a guy who was a huge dickbag. Now he makes like $110-115k working 8-6 or so documenting fairly straightforward agreements. He's pretty pumped.
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that sounds miserable.
 
One semester in and $20k in the hole. Mediocre grades. Trying to decide if i should soldier on or not. Really getting worried about the debt situation. Advice?
 
what are your other options? The unfortunate part of the debt situation is it takes away the flexibility to do a job that you really enjoy and forces you to do something you might not like as much but pays the bills. While it's still early and the numbers aren't huge, you may want to consider getting out. I would imagine having big debt and a miserable job would be pretty awful.
 
Fayettenam said:
T1?
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Nope.
Deacon923 said:
what school are you at? I see "UT" above is that Tennessee or Texas?
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Tennessee
BacktoBack said:
what are your other options? The unfortunate part of the debt situation is it takes away the flexibility to do a job that you really enjoy and forces you to do something you might not like as much but pays the bills. While it's still early and the numbers aren't huge, you may want to consider getting out. I would imagine having big debt and a miserable job would be pretty awful.
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That is the main issue holding me back from dropping out. I could most likely get a sales job making decent money but its by no means a lock.
 
Might be worth sticking it out another semester and seeing what kind of internship you can get. That'll be the best way to determine if you A) enjoy the work, B) think you can hack it, and C) think you can get a job.
 
Manifest Destiny said:
That is the main issue holding me back from dropping out. I could most likely get a sales job making decent money but its by no means a lock.
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In the current climate, it's by no means a lock that you'll get a legal job making decent money when you get out. That said, if it's something that you really want to do, then by all means go for it.
 
The market is saying we have enough lawyers. You should listen to it unless you have a true passion/calling to practice law. If you're just a smart guy looking to cash in, move on. Time to be honest with yourself.
 
Manifest Destiny said:
One semester in and $20k in the hole. Mediocre grades. Trying to decide if i should soldier on or not. Really getting worried about the debt situation. Advice?
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Sucks. I started repayment a few months ago. Started off doing $1800/mo to get them off the books in ~7 years, but that's not possible going forward. Honestly, I may have to do the pay-as-you-earn and work public sector for 10 years for loan forgiveness.

Bottom line - it sucks.
 
wfudkn said:
In the current climate, it's by no means a lock that you'll get a legal job making decent money when you get out. That said, if it's something that you really want to do, then by all means go for it.
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That's really the root of my fear concerning the debt. Im seeing more and more the reality of salaries in the field and think i could get there without having 100k in debt first in other fields.

drdeac said:
I urge you to read this simple explanation of the sunk cost fallacy while contemplating your decision. http://www.princeton.edu/~achaney/tmve/wiki100k/docs/Sunk_costs.html

Sent from my SCH-I535 using Tapatalk 4
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REading now.
awaken said:
The market is saying we have enough lawyers. You should listen to it unless you have a true passion/calling to practice law. If you're just a smart guy looking to cash in, move on. Time to be honest with yourself.
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I was in it for the cash. Im sure i could end up making money being an attorney but im trying to decide if its worth it to be in so much debt starting out.
 
wfudkn said:
In the current climate, it's by no means a lock that you'll get a legal job making decent money when you get out. That said, if it's something that you really want to do, then by all means go for it.
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Maybe if you're lucky, you can be one of the 20% that gets a private sector job and you can make $60k/year!
 
About 130.

I don't think I've talked to one person who didn't sign up for Pay As You Earn or one of the variations. It is my understanding that if you do those programs, you have to stroke a check for a high % of that taxable income when your loans are "forgiven" in 25 years (or whatever the timeframe is). Since most people aren't even paying off the interest every month, their amount owed keeps rising and rising. Can anyone confirm?
 
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