Is Law School worth the money it commands? This question has bogged the candidates for long and considering the current scenario which still has to recover from economic depression and the ever increasing student debt, this issue is a pertinent one. As per the American Bar Association nearly $71,000 amount is borrowed by law candidates in public schools whereas the amount is higher in case of private institutions amounting to nearly $91,000. Hence this issue has a blazing importance.
But this cannot stop one from pursuing a course in law. Rather the candidates need to decide whether the course they are opting for will match up to their demands of a career life and whether the course will act as a bridge between their educational qualification and their career goals. To understand the latter, applicants must be pro-active and request a full range of employment, salary, and scholarship data from law schools, says Kyle McEntee, executive director of Law School Transparency, a group that hopes to make law school data easily accessible to all potential law students.
People should be able to look at the information, evaluate their own risks, and then decide if the investment is appropriate for them,” “It doesn’t matter that the economy is terrible right now; it matters that there’s some really significant investments that people are making…The rest is up to them to say, ‘Okay, I have a 20 percent chance of getting a job that allows me to pay back all this debt in a comfortable manner. Do I still want to take that risk? Do I believe I’ll be in that 20 percent? Do I have some other fallback option?'” McEntee says.
According to McEntee, the candidates should consider the following three points:
Use your acceptance to get the data: The candidate can request the date before getting enrolled in the institution. They should also do a research work regarding the career placements of that particular institution. For Example: If you are planning to work in New York make sure that students from that institute are placed there. This way it gets easier to narrow down your search according to your criteria.
Leverage your acceptances for scholarship money: McEntee was accepted to Vanderbilt Law School, Cornell University LLB degree School, the University of Texas—Austin School of Law, and the Washington University in St. Louis School of Law and parlayed those acceptances to financial reward. Given that they’re peer schools, the institutions were willing to up their respective scholarship offers as they competed for his commitment. “I leveraged my scholarship at one of the schools to get money out of another school, and I used that money to get money out of another school,” he says. “I maximized the amount of money I was able to squeeze out.”
Understand the nuances of a scholarship: According to McEntee knowing the benefits of scholarships will help the candidate determine the scholarship’s real value. Many colleges require certain hurdles to be crossed in order to maintain that scholarship, while others don’t require it. So a good understanding of this helps in the long run. McEntee says. “You have to ask, ‘What does a 3.5 mean based on their curve? How many people are getting this scholarship? And how many are keeping it?'”