By anyone’s definition, reasonable consumers — college graduates — seriously considering law schools are a sophisticated subset of education consumers, capable of sifting through data and weighing alternatives before making a decision regarding their post-college options
The reality is that TJL is selling a law degree, for $41,000 a year (minus cost of living, etc.). Because a TJL law degree is sold, rather than earned (granted, by jumping through the GPA/LSAT hoops), it has low signalling value. If it’s a club anyone who can take out loans can buy their way into, why would you want to join?
The problem is, if you believe in doom and gloom commentary, higher education as a whole is imploding.
Except the numbers don't support that. There is a very small number of attorneys who make astronomical amounts of money and a very large number of attorneys who make a typical middle class salary. $40-80k. Slightly better than average. And, to be honest, the sort of salary one can make in a middle management job without a degree that costs $150k. Really more like $200k when you figure that most have to borrow their living expenses for three years too.
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