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Law School Loses Luster as Debts Mount and Salaries Stagnate

Many recent law-school graduates are earning less than $70,000 a year while carrying debts at least double that amount. “Law schools encourage a kind of magical thinking,' said a professor.

8/3/2021 9:45:00 PM

Many recent law-school graduates are earning less than $70,000 a year while carrying debts at least double that amount. “Law schools encourage a kind of magical thinking,' said a professor.

With high-paying jobs out of reach for most, graduates of the University of Miami and other well-regarded programs routinely carry six-figure student loans for years. “I thought I would come out making much more than I did,” said a recent graduate who owes nearly $300,000.

Aug. 3, 2021 8:01 am ETLaw school was once considered a surefire ticket to a comfortable life. Years of tuition increases have made it a fast way to get buried in debt.Recent graduates of the University of Miami School of Law who used federal loans borrowed a median of $163,000. Two years later, half were earning $59,000 or less. That’s the biggest gap between debt and earnings among the top 100 law schools as ranked by U.S. News & World Report, a Wall Street Journal analysis of federal data found.

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Graduates from a host of other well-regarded law schools routinely leave with six-figure student loans, then fail to find high-paying jobs as lawyers, according to the Journal’s analysis of the latest federal data on earnings, for students who graduated in 2015 and 2016.

When Miami students asked for financial assistance, some graduates told the Journal, school officials often offered this solution: Take more loans.“I had no work experience, life experience, anything like that before I signed on to this quarter-million-dollar loan,” said Dylan Boigris, a 2016 Miami Law graduate, who began his career making about $45,000 as a public defender. “I thought I would come out making much more than I did.”

Read more: The Wall Street Journal »

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Plumber, electrician, general contractor are all ahead of you. If it's not a top ten law school you're out of luck. Minimum wage salary if you're lucky. The University of Miami law school sure isn't top ten nationally. Not even sure it's accredited. While Shambhavi Anand knowingly broke 🇮🇳abortion law(20wks) TWICE (6 & 7mnths-A Criminal Offense) aborted 7mnths alive girl child then fled 2🇨🇦 BrockUniversity GoodmanSchool 2 be 'Future Business Leader' LauraKlassen14 SBAList prolifecampaign cdnpoli

Sounds like the beginning of a good lawyer joke. If you presue an education to make money, you missed the point. Don't worry mates Biden will come to your rescue. End the Oligarchs. Take back your country. I chose not to practice, and that’s the only reason I’m close to paying them off. Are those law schools mostly private? Perhaps everyone should stop thinking certain careers lead to riches. So sad someone making $65K can’t make some payment on college debt. Perhaps math classes would have helped.

Sad to say it’s there fault. Lemme guess they want their loans wiped. This country has enough lawyers and rewards them enough Do you dopes know how many people in the US get less than $70 000 a year? All colleges do

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Follow my Blog For More updates The Year of Magical Thinking: Fraud, Loss, and Grief Be an elevator mechanic. They make over $100,000 a year 😂 less school, less debt, more pay. Most new J.D.s aren't worth the associated debt. Taking on tons of debt for an industry in secular employment decline is a poor ROI. My plumber makes more than double that salary.

The University of Miami I graduated law school and 2005 earning $35k and $47k my first two years. The debt is unbearable and I will be dead before it is paid off. good luck 😁 save 250K and be a welding apprentice

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