Tuesday, March 24, 2009

Are Pre Law Students Making a Big Mistake?

As the Wall Street Journal reported this past week law school applications were up 2% this past year despite the fact that thousands of lawyers have been laid off since the down turn in the economy began. William Henderson, a professor at Indiana University's Maurer School of Law said "law school is not as safe a bet as it once was". Henderson, who specializes in the economics of the legal profession additionally "there are few law schools that can guarantee law students that they'll find a high paying corporate job, is it really worth going $120,000 or $140,000 more into debt?" Henderson among many others raise a good question, does it make sense to forgo three years worth of income and accumulate six figures worth of debt?

However, if receiving a law degree isn't a ticket to the good life then what is? Business schools continue to raise their tuition and yet MBA graduates also are struggling to find work. The government has even announced that they're looking to lay off 140,000 postal workers! I guess we could all become Am Way distributors......