bringing this thread back up, I am in the process of applying and deciding on where to go to Law School.
Hoping to get into one of the public schools in Florida, did undergrad at UF, crossing my fingers for that one.
I have been accepted at a private school down here, but damn is it expensive. I was reading through the thread for advice, I see that pops said not to borrow, but I don't know how I would be able to go if I don't have a few loans.
GreyHammer any advice or wisdom you could send my way would be much appreciated!
Thanks guys, Go Irish!
My advice to law school applicants errs on the side of being risk-adverse, so adjust the following according to your own risk tolerance and circumstances.
Law school makes sense only for a few groups of applicants and the decision depends on balancing the following factors: (1) the employment numbers for the school in question, (2) the cost of attendance, (3) their career objectives, and (4) your tolerance for risk.
Generally, law school makes sense if the job that would be available to you as a median-ranked student coming out of the school in question is sufficient to service your loan burden.
For example, if you have the kind of loan burden that would result from receiving little to no financial aid, you'd need to land a job with a big law firm (and would be comfortable with that lifestyle) or you need to attend a school with a sufficient loan repayment assistance program for public interest (i.e. government and NGOs) work (and are comfortable with public-interest level salary as well as being locked in for the ten years of public interest work public interest repayment programs require). This means that, if you are receiving little to no financial aid, you should only attend school ranked in the top 7-10 since only at these schools will you find (1) a somewhat realistic chance at landing in big law (numbers provided below) or (2) a sufficiently generous LRAP program (an overview of some of these programs can be found
here).
If your loan burden would be minimal, your options open up considerably. Still, you should only attend if you are comfortable with the jobs available to you if you ended up at median. This generally requires you to attend a school with at least strong regional placement numbers (numbers for Emory, which has some reach in Florida, and for Florida schools provided below). If you go to a school with weaker placement numbers, even if you finish without any debt, you run a high risk of not being employed in a JD-required, full-time, long-term job and you've now spent three years away from the job market, you've added a three year experience gap to your resume, and you run the risk of carrying the failed-JD stigma with you when you apply to non-JD related jobs.
Finally, if you're somewhere in between no scholarship and full scholarship, as with the two prior situations, you should still only attend if the jobs available to median students at the law school in question is sufficient to service that debt. Thus, the higher your eventual loan burden, the better your job prospects from median needs to be.
The lower your tolerance for risk, the lower your perspective needs to be in terms of the class rank you're expecting. For example, someone with a low risk for tolerance ought to look at the jobs available to students who find themselves below median at the school in question. The reason I wouldn't look at the jobs that students in the top quarter or top third are getting is that almost all students go to their respective law schools believing that their combination of work ethic, intellectual ability, study strategy, and luck is somehow unique and will put them in the top quarter or top third. Invariably, at least 2/3 of the class will be disappointed.
With that in mind, if I were to take on a not insignificant loan burden and I were looking only at law schools in Florida, I would only consider attending Florida State or Florida and only then if the jobs coming out of median paid well enough to service my debt. The unbelievably high costs of Miami and Stetson are not justified, given my tolerance for risk, by the jobs available to students at or just below median at those schools. If I were receiving little to no financial assistance, I would be very unlikely to attend at all unless the school had a generous LRAP program and jobs qualifying for LRAP are obtainable by students at median or I had a job lined up before attending (e.g. at a family-owned firm).
I will be graduating from law school this May and am happy with my decision to attend primarily because my risk-reward calculus has worked out so far. That's not to say that there aren't other benefits to attending law school; it certainly can be good professional training and can at times be intellectually stimulating. The decision to attend, though, should come down to whether your investment made in cost of attending and time will result in a desirable return at a risk that you can tolerate.
Law School Transparency Employment Scores said:
This list indicates the percentage of students finding JD-required, full-time, long-term jobs at each school:
Emory ~73%
Florida State ~65%
Miami ~59%,
Stetson ~59%
Florida ~56%
Source:
Law School Transparency
NLJ250 (largest law firms) placement for C/O 2013 said:
Columbia 65.5%
NYU 54.9%
Harvard 53.6%
Chicago 53.0%
Penn 52.5%
Northwestern 51.1%
Duke 48.6%
Stanford 47.1%
Cornell 45.1%
Berkeley 44.9%
UVA 44.2%
Michigan 41.3%
Yale 38.8%
Georgetown 37.8%
Texas 31.8%
Vanderbilt 31.6%
UCLA 30.4%
USC 29.6%
Fordham 24.5%
Notre Dame 24.5%