Saturday, March 19, 2016
The Law School Pigs Gladly Pave the Way to Financial Ruin, for Their Students
Average Law School Indebtedness List: Before we get to the meat and potatoes, let me state a basic fact of life: Robert Morse of US “News” & World Report has become an even bigger pussy. This debt figure is an important metric, in many ways more crucial than whether you attend the 56th “best” law school or the 71st “greatest” diploma mill in the country. After all, the students at both in$TTiTTuTTion$ face the same weak-ass employment prospects. So what has Vagina Bob Morse done now, you ask? Well, the eunuch no longer places the amounts in descending order of debt. He has recently decided to list these alphabetically by state, and then within each state he approximately lists the schools who reported, alphabetically. Yes, this old, wrinkled cunt is certainly looking out for the students, right?!?!
I had to do some searching, but according to USN&WR, here are the schools with the highest average law school indebtedness, for those members of the JD class of 2015 who incurred debt for law school. Remember that these figures do not take interest that accrues while the student is enrolled into account. The second number on each line represents the percentage of each diploma mill’s class who took on such debt:
1. Thomas Jefferson School of Law: $172,726, 90%
2. Columbia University: $168,627, 59%
3. New York University: $166,022, 69%
4. University of San Francisco: $162,434, 79%
5. The John Marshall Law School: $162,264, 82%
6. California Western School of Law: $162,260, 89%
7. New York Law School: $161,910, 80%
8. Florida Coastal School of Law: $160,942, 94%
9. Georgetown University: $160,606, 73%
10. American University (Washington): $160,274, 80%
11. Vermont Law School: $156,710, 87%
12. University of Miami: $155,796, 72%
12. Northwestern University (Pritzker): $155,796, 78%
Look at that, people. Another tie, this one for 12th place! As you are well aware, each year’s overall law school rankings feature numerous idiotic ties. For instance, the tool will often bunch together several toilets in one rating spot. Specifically, this year, Third Tier Drake shares 111th place, with 11 other ABA law schools! What are the odds?
Student Loan Calculator: It’s sad that college students and grads give more thought to which blend they should buy from Starbucks than to taking out insane amounts of NON-DISCHARGEABLE loans. Ironically, MANY of these simpletons will end up as baristas after earning worthless degrees from pathetic “institutions of higher education.”
Instead of trying to gain admission to any ABA-accredited dung heap, they should these words from FinAid’s Mark Kantrowitz:
“The debt-to-income ratio is a standard tool for assessing whether a borrower will have difficulty meeting his or her repayment obligations. For example, most banks will refuse to issue a loan if the total of your monthly debt payments (i.e., mortgages, credit cards, auto loans, educational loans, etc.) exceeds 37% of your income. It is recommended that your educational loan payments represent no more than 10% to 15% of your income. This calculator uses the debt-to-income ratio and a projection of your starting salary to derive a manageable debt load for you.
A good rule of thumb is that for the Stafford Loan, the manageable debt load is about the same as your starting salary.” [Emphasis mine]
How many TJ$L grads are going to make $200K+ per year, coming from that dung heap?! Keep in mind that they will have accrued loans from undergrad, as well. Hell, people attend Harvard and Yale Law so they can make $160K per year as a Biglaw associate – and they are happy to get that type of job.
The Glutted Lawyer Job Market: Check out the NALP National Summary Report for the Class of 2014. You will notice that there were 43,832 graduates, competing for 27,928 jobs that "require bar passage." However, this does not show the extent of the glut fully. Scroll down to page two, until you reach Size of Firm. There were 18,587 members of this cohort who obtained private law firm positions. Of that amount, a mere 5,043 were in offices with more than 250 attorneys – and those firms don’t want TT, TTT or TTTT grads.
Conclusion: Try not to be a vegetable, lemming. Do you think – for one millisecond – that you are going to land a Biglaw job coming out of TJ$L or VermonTTT?!?! All you will be sure to obtain is $150K+ in NON-DISCHARGEABLE debt, for a worthless law degree. Yes, that is a wise “investment,” huh?! Do you believe that you will roll around in a nice Jaguar, while representing “the people” against evil, giant corporations? Maybe you will help baby sea lions, through your legal acumen? Perhaps, you feel that you will make a living as a legal aid worker. How does making $36K per year sound to you, Bitch?!
Take a look at the names of the schools on the Average Law School Indebtedness list, from US “News” and Bob Morse. TTTThoma$ Jeffer$on Law Sewer, Univer$ity of $an Franci$co, The John Marshall Law Sewer, California We$TTTTern, New York Law $chool, Florida Coa$TTTTal Sewer of Law, and VermonTTT. Law firm hiring managers will laugh at your ass, the moment they see your pathetic resume and cover letter. Non-law employers will ask you if your law degree is from an online school or if its accredited. In the final analysis, it simply does not make ANY financial sense for you to incur $180K+ in NON-DISCHARGEABLE debt – for a garbage law degree. All you are doing is supporting the lifestyle of lazy pig “law professors” who DO NOT GIVE ONE GODDAMN about you or your family, your future, or your inability to support yourself. Make sure you don’t drink wet paint either, Dumbass.
Posted by Nando at 7:40 AM