Forgive me, but I was almost happy to see this article today on CNN.com talking about how MBA students are taking on too much debt before finding there are no 6-figure jobs waiting for them. Yay, law schools are not the only evil graduate program accused of bilking poor, innocent ambitious students and forcing them to forgo financial security and quality of life for the next 25 years.
Ok, I’m being a bit overly dramatic. But you have to understand: I’ve spent the last 8 months exploring whether law school is worth the cost anymore, whether lawyers regret their careers, and what advice they offer to the next generation following in their footsteps given what they know about the current economy. Next month, my new book is coming out. It’s called: The Law School Decision Game: The Prospective Lawyer’s Playbook.” As part of my research for this book, I surveyed and interviewed 300 lawyers in order to pass their advice onto those of you (1) considering law school and (2) already in law school who are trying to build careers as lawyers. After reading the CNN article this morning (before my coffee) I felt I shouldn’t hold out on you – it’s important to share one of the many facts I learned while writing the book:
Although prospective lawyers believe the rank of a law school is more important than the cost of attendance,ACTUAL PRACTICING LAWYERS BELIEVE THE COST OF ATTENDANCE IS THE MOST IMPORTANT FACTOR IN CHOOSING A LAW SCHOOL.
As you move forward to create your schools list for this year, I urge you to include schools where you will be in scholarship range or that will be cheaper to attend because of cost of living, in-state tuition, etc. You don’t have to make the choice about where to attend right now, but please at least give yourself the option because you might have a change of heart about spending the money when it comes time to make the decision. Loans can feel like play money, but it’s not fun anymore when you are paying them back.
In the next month, I’ll be hosting two Blog Talk Radio shows dealing with the price of law school and how it should factor into your decision to attend.
First, on March 30th at noon EST/9 a.m. PST, I’ll be speaking with Derek Roberti, PhD, JD, author of “Should I Go To Law School? The $100,000 Gamble” about “The Law School Decision.“ We will discuss all of the personal and financial questions you should be asking yourself as you contemplate law school. Derek, a 2001 graduate of Stanford Law School, will inspire you to think critically about your decision so you can be sure you’re making the right one. Here is the link to the show information on Blog Talk Radio.
Author Derek Roberti, PhD, JD
Then, on April 14th at noon EST/9 a.m. PST, I’ll be hosting a show addressing Financial Aid considerations for law students. I will be speaking with Heather Jarvis, JD, a former capital criminal defense attorney who now helps people deal with crushing school loan debt. She will share pitfalls to watch out for and will give you information that will help you decide where to go to law school and how much to spend.
I will take live questions via chat during each of these shows, and if you can’t listen live, they will be available on the iTunes Ann Levine podcast library.
I was reading the paper today and learned that the University of the South is lowering tuition by 10 percent. I thought, “Aha! Someone is finally listening to me!” Ok, it’s not a law school, but it is a fairly respected undergraduate school in the South. (I know these things, since I graduated from high school in Alabama). And they are lowering tuition!
Money and Law School: Lower Tuition! – This is something I posted this last year and I’m pretty sure it’s the only time I’ve ever used the Law School Expert blog to give advice to law schools, but I stand by it. If law schools would worry less about spending more (as per this post by a law school dean and this post about the U.S. News rankings’ reliance on expenditures) then lowering tuition would be much more feasible. The amount of support staff per student has skyrocketed and the importance of fancy facilities seems to have eclipsed law schools’ considerations of whether students are really getting a good value. Law students are generally a disgruntled bunch anyway – no amount of free pizza or fancy library carrels is going to change that. But lower tuition, and less pressure to find high paying jobs – now that’s something that could make law students maybe not quite happy, but a lot more satisfied.
You MUST read this article from the New York Times about the real situation with law school loans and employment prospects. It does not just apply to fourth tier schools (although the article certainly makes Thomas Jefferson School of Law the center of its piece). I think one thing I’ve noticed that coincides with this article is the perception that people applying to law school today just “believe” everything will work out beautifully for them, no matter how terrible they work out for others similarly situated.
I think people with lower LSAT scores who won’t be eligible for scholarships, and who may (honestly) have difficulty passing the bar, should seriously consider what they are getting themselves into before taking on significant student loans. And those of you with strong LSAT scores should seriously consider schools that offer you significant scholarships.
I hear from a lot of idealistic people – idealism is good. I’m a card-carrying idealist myself. And if you’ve been reading my blog for any length of time, you know how I feel about disgruntled lawyers – (in a nutshell: they should’ve gone in with open eyes, done their research, and should now conduct themselves professionally and honorably). Two clients sent me a link to this video in the last 24 hours and I just have to share it with you. Why? Because it’s funny. And why is it funny? Because it is absolutely based in truth. Why is the truth important? It will make you think. And if you think, and if you do your research, then you will know that -should you choose to go to law school- you will have done it for the right reasons, even if they are on the idealistic side.
Yes, I miss Glee. But in the meantime, it’s been an exciting few weeks and I want to share a few highlights with you. Here they are, in no particular order:
1. I was interviewed for US News’ article, “As Law School Tuitions Climb, So Does Demand.” It’s worth a read, just don’t get to caught up in the negative comments about law school. You know how I feel about those. But I do hope that the article inspires more of you to consider scholarships over rank, at least to some degree. (The article was even picked up by Above the Law).
2. Speaking of US News…. are you sitting down? This may shock a few of you who’ve been following my blog for a while. I am going to be the Law School blogger for US News. Starting August 1st, I’ll be writing weekly columns on all things related to the law school admission cycle. Pretty exciting stuff. And, yes, I’ll even be sharing my thoughts on rankings : )
3. Another waiting list success story: One of my favorite clients, (ok, they’re pretty much all favorite clients), just found himself at a crossroads. After working on law school applications with me for two years (he wasn’t happy with his LSAT the first time around and decided to wait), he was in his car, followed by a moving truck, on his way to Tulane Law. He was excited about Tulane: great school, nice scholarship, near his girlfriend’s family. Then, he was somewhere near my hometown in Alabama when he got the call – he was pulled from the waiting list at Emory!!! He called me, totally panicked, excited about the opportunity but feeling like this was a major curve. After asking what his girlfriend thought he should do (go to Emory) I told him, “You’re three hours from Atlanta- GO!” Here’s a situation where ranking prevailed - Emory is #20 and Tulane is #45, and he really loved Emory when he visited. I offer this story as encouragement for all of you who are still on wait lists: Fight, fight, fight!!!
4. I’ve been talking to a lot of people who are wondering whether it’s too late to get started studying for the October LSAT. The answer is my favorite of all answers – it depends. Are you working full time and going to school? Then, yes, it’s too much to start fitting LSAT prep into that mix. But if you have time to dedicate, give it a shot! If a month from now, in mid-August, you find you haven’t been able to dedicate yourself to the effort then put it off until December. But if you have time to really start concentrating on it, do it! I told one of my clients this week that, come Monday, I expect her to have a study schedule set up. If you take my advice on this, you won’t have to call me (or ask on the blog) telling me you didn’t prepare adequately for the October LSAT, terrified that December is too late in the game to be competitive.
Ok, that’s about it for today. I had a wonderful week in Maui, and this weekend we’ll be going to my husband’s 20th reunion for high school. I hope your summer is going well!
I wanted to share a random assortment of some great resources for those of you applying to law school:
Studying for the June LSAT? Here’s a great tool: a FREE LSAT proctor download, complete with distracting noises to prepare you for actual test conditions.
When trying to decide where to apply, there is no better resource than the ABA LSAC Official Guide to U.S. Law Schools. (Check out my cool video review and check the “helpful” box. Should I do more of these?)
New Law School Interactive podcast site with a few good downloads already posted, and a schedule of promising topics to take you through the summer.
And, I have a brand new Blog Talk Radio Show coming up on Tuesday (May 11th at 8 pm EST/5 pm PST) – Don’t miss it! The Topic is: Is Law School Worth the Sacrifice? I’ll be interviewing recent law school grads about their job prospects and whether it’s something they would do all over again, knowing what they know now. Listen live (and chat questions for me to ask our participants) or download it (or listen online) anytime afterward.
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Ann K. Levine, Esq., former director of law school admissions for two ABA approved law schools, is a law school admission consultant and owner of Law School Expert,
