Should I Go $300,000 In Debt For Law School?

[@Lawyerbaejess]

No. Absolutely not. This is from a lawyer.

[@mikebrownbassist802]

All lawyers today say don’t go to law school! Too many lawyers today. Be a CPA!!

[@amireallythatgrumpy6508]

That's just as bad

[@Cowboyz890]

The debt IS guaranteed. You being passionate, passing the Bar, getting a high end job, and enjoying the work are NOT guaranteed.

[@ytr8989]

He thought CPA was a hot ticket to big bucks, but then found out it’s not. Now someone told about a law degree from a prestigious college. 😂

[@BitterComments]

As a newly practicing lawyer, *NO.* I owe $80k and feel like I’m going to die.

[@johndone8045]

dude 80k and u are a lawyer..... its nothing

[@JaredShapiro]

As a practicing lawyer, I owe $325K between college and law school. Big mistake. Total waste. I could have invested that money and made millions or sold real estate.

[@blackworldtraveler3711]

I have been going to jury duty since the 90s and every lawyer I talked to makes around $80k/yr. I assume it was a tv fantasy thinking six figures but pretty good where I live with zero debt.

[@cgasucks]

@@blackworldtraveler3711 Everyone wants to make money like Harry Hamlin but winds up like James McGill.

[@rockintherae]

Hopefully you get the $20k forgiven!

[@tshandy1]

I've known at least three attorneys (former attorneys) who invested years and big bucks becoming a lawyer then once in the profession they realized they hated it and all ended up leaving the field after a short while.

[@DG-mk7kd]

I deeply regret going to law school

[@mikederucki]

My cousin and his wife are both lawyers, both hate it. The only attorneys that I’ve met who really like it do not make much money. Like $50-60k doing public service or non profit

[@tshandy1]

@@DG-mk7kd - what's life without a few regrets? Along similar lines, my regret was getting an MFA. I never made any money with it, and struggling to be an artist consumed (wasted) most of my twenties, when I should have been digging into a real career.

[@JaredShapiro]

Sounds like me.

[@cgasucks]

I know one too. He's now a travel agent.

[@TheModernDespot]

Depends on the law school. If it's a Top 10 law school, maybe. That kind of degree will open doors. If it's anything less, no way.

[@Charlie-gv3zt]

Exactly!

[@jasonheidemann7432]

I’m going to disagree. It would be probably better to take a full ride to a T25 (which would likely happen if one is accepted into a T10.). Also look at part time law schools programs. You can work while attending law school, that’s what I did. Also, look at the partner’s degrees at the Big Law firms-many are not T10, e.g., GW, GT, American, etc.

[@meteoriteeeee]

@@jasonheidemann7432 the big law percentages for t25 schools are essentially a coin flip, so not bad but still quite risky. Also the partner thing isnt relevant because any law degree used to be way more in demand 20 years ago than it is today, as is the case with basically every degree except maybe a MD

[@micahsell1]

Saul Goodman went to a lesser known college and he turned out just fine! Lol

[@ykciR]

300k!?!?!? That’s insane to me.

[@musicpro7278]

More like 400k after interest

[@darex0827]

No. Next question.

[@SeunAdekoya]

Short blunt and to the point lololol love it

[@fasteddy3336]

😂😂😂😂😂😂😂😂😂

[@wittyusername9544]

The J. in Dave stands for Jr.

[@chicagoan81]

My friend did it. His bill is at $340k by now

[@lkj0822g]

Having a CPA and a JD are complementary licenses and tax attorneys are very much in demand. According to the Bureau of Labor Statistics, for Boston, the average salary for an accountant is $93k and the average salary for an attorney is $171k. That said, $300k seems a bit much to spend on a law degree. There are less expensive alternatives out there. Also, in addition to the educational requirements, one must have at least two years experience in public accounting or five years experience in corporate accounting to obtain a CPA license. My advice would be to hire on with a local or regional CPA firm (the "Big Four" are meat grinders) to meet the experience requirements and go to law school part time at a local college. Trust me, with a CPA and a JD, nobody will care that the degree is not from an Ivy League school, you will do well.

[@blackworldtraveler3711]

Boston is an expensive place so probably higher than the norm for specific type of attorney. I doubt nationwide average is over $100k and pretty close to an accountant.

[@lkj0822g]

@@blackworldtraveler3711 Yep. Big league law firms and close proximity to several Ivy League schools probably skew those figures considerably.

[@WOHM8274]

Why would you spend a 3rd of a million dollars on something you’re so so about?

[@christianlady]

I’ve been a lawyer for twelve years. My advise is not worth it big you’re not interested. For me I was passionate about it for the first seven years and I’ve made some thing for my self. Then one day it was gone. Not everyone make these monies. I did for a while but not everyone is that fortunate. Plus it’s a stressful job

[@sconnell1791]

Don't do it. Just don't! Law is not something to get into just for the money. So many lawyers are horrendously miserable because of the workload and stress. I completed law school this year and was able to do it debt-free. It's not a top tier school, but I'm still going to be licensed to practice law shortly. It can be done but it's very difficult. Think about this very, very seriously. Only go into it if you're really on a mission and have a true sense of a calling to serve people as an attorney.

[@idkwhy77]

That's why I wanna go. I don't care about this debt, it's about the job and service. The money is great to support my family but I don't have personal value in that money. It's the work I will do that drives me.

[@pretty.noodles3540]

@@idkwhy77feeling the same way. Eventually money will come if you choose to learn, grow, refine your skillset, right? If i could get into it debt-free or not have crippling $100k numbers looming over me, I’ll pull the trigger.

[@idkwhy77]

@@pretty.noodles3540 problem is the competition either required me to get into t14 or go to the top of my class in a school that won't cripple me with debt..

[@wadeharris348]

Absolutely not!!! I went to law school. DO NOT DO IT. Most lawyers don’t make enough money to repay loans. Unless you’re going to a top tier school, too in your class at a law ranked school, scholarships or family connections, you’re going to put yourself back many years. It’s not like going to medical school where you have a guaranteed salary upon graduating residency. I know plenty of lawyers who really struggled after graduating. Have you worked at a law firm? Do you see what they do? What is your current salary? Are you making good money? If you are, just save and invest to retire early. Slow and steady.

[@Steven-rp8zo]

Besides Dave, these two are the best pair hosting this show. Always interesting!

[@ChromeXuGames]

Less than 10% of attorneys work in BigLaw. You will not be one of them. Be a CPA and don’t look back.

[@vivelafrance6357]

While I would say no, the law school does matter if you’re trying to break into big law. That’s not to say that Top 20 school = big law. It’s just that the top law firms in this country do tend to recruit attorneys from the Harvards, Princetons, and UChicagos of the World.

[@IntrustGames3]

No

[@DG-mk7kd]

Law firms hire accountants, try working with attorneys before becoming an attorney. A firm may sponser you through school, provide you with a summer internship, or part time work.

[@roolyfe]

Yes if it’s a top 14 law school or M7 Business school 🏫

[@criticalwokeracisttheory4645]

I know two attorneys who are in debt a few hundred thousand with little hope of ever getting that partner job. They did document processing for three years in their parents basement for $25.00/hr.

[@jayj4439]

I don't think the tuition matches ANY career salary these days. Not worth it. Go to community College and in state university

[@ballan00]

My assumption would be that you have to be super talented and very passitionate about being a lawyer to land a huge $$ job at a major firm. I think it is a good chance he blows $300k on school and then realizes that he lacks the drive and/or talent to be among the "some" lawyers that make over $200k. CPA feels like much less stress and risk.

[@Whoiskevinjones]

Should have stopped at "you should never go to law school."

[@rfmarano]

Basically if you’re not making back in a year at least what you spent on school it’s not worth it

[@emilyl6746]

I just graduated law school and have 70k in debt. But i did school part time and worked full time at a law firm throughout. The debt would have been double if I hadn't gone that route. I'm making six figures and I love the work I do so for me it was worth it. My goal is to pay off the loans within two years. My only advice would be to work as a paralegal for at least 2 years before going to law school. Which is what I did. Not only did I know what I was signing up for when I applied to law school, but having the legal experience put me way ahead of my classmates who didn't. I ended up graduating in the top ten percent of my class and got a well paying job out of law school.

[@lot2196]

Darn, that means my degree sighed by Tony The Tiger is worthless?

[@mikederucki]

Take that cpa and go work in P&C insurance. So many opportunities in audit, admin, claims, m&a, etc. the industry is aging out so terribly they are desperate for people

[@herbiehusker1889]

I went to law school and it only cost $65k. That was 10 years ago.

[@xsgtxbigboy1655]

Big difference between now and 10 years ago

[@herbiehusker1889]

@xsgtxbigboy1655 not really. Most of the people I went to school with had twice that.

[@michaelethangross3395]

Not to become something like a so-called "Deputy Public Defender" starting salary $91,395 annually (actual current job posting) . The real monthly payments on 300,000 student loans is well over 3,000 a month but it should be blindingly obvious that nobody pays 300k to make a mere 91k especially to do a job like that. But for those that think wow 91k per year I'll own a home find the payment somewhere wait till you go interview for a real legal job and they say 300k, that's a big bullet, re-apply when its paid-off, we don't need the hassle of wage garnishments, etc. that type of interview question is not illegal and yes for that type of job they can check your credit and they would turn dead white, pale and the hair would stand up when they see that much debt . . .

[@HeadStronger-HS]

Majority of lawyers don't make the kind of money that would justify this expense. Unless 300k of student debt is for a medical doctor you are digging a big hole.

[@loro1rojo]

Crazy question.

[@TheoRhoades]

Or you could invest $300k and in 20-40 years be set for life

[@jacqueline716]

Assuming you have $300k right now. I highly doubt the caller has that on hand right now.

[@TheoRhoades]

I’m saying over that period of time he would spend that. One can invest into better opportunities. IMO master your current skill and teach others how to benefit from it

[@johncameron4194]

NO

[@TheKitu]

Ken is such a strange dude. “Does accounting fulfill you?” Are you nuts

[@bdriscollmd]

You have to do what you like to do. If you find something you love to do - do it. You will find a way to make money. However, "law school is law school" - NOT. The pay distribution after law school is bimodal at 60-70K and 220K. This is small law vs big law. Chance of going to big law is directly proportional to the prestige of the law school.

[@yoavmor9002]

These $200k a year positions have absolutely DESTROYED tens of thousands of lawyers. They're paying you to torture you. These jobs glitter but they're sure as shit not gold.

[@newwaymortgage]

Unless it is your passion, pursue it whatever it takes. But if you're getting a degree just so you could have a paycheck more than what average people earn, just sleep it off, man. I think you're still dreaming. Move forward!

[@blackworldtraveler3711]

More like eager to spend a lot of money he doesn’t have than passion.

[@HHHPedigrees]

Doctors and Lawyers are the two careers where debt is acceptable. You can make 300-500k out of school.

[@9770G]

Not only are the numbers u put so far apart but it’s also completely false what u states most layers will make 60-80k out of school and for doctors it’s like 120-150k out of school

[@paperthin8794]

why do ppl keep thinking law degree is equivalent to medical degree? the pay scale is drastically different. Only a small percentage of lawyers make good money, vast amount of them barely make over 80k, however medicine guarantee you a six figure salary if you finished the residency! as some say, the only good thing about being a lawyer is to tell someone that you 're a lawyer

[@reginamcadory674]

Stick with becoming a CPA. Work your way up the ladder without the debt. And there are so many opportunities available.

[@jeretso]

Callers like this no wonder we have inflation. Dan the greedy man.

[@ProtoMaxoid]

Get law firm experience and THEN consider going to law school

[@dinospumoni8860]

So many people I know look at college for any reason or career as if I get this degree I can make x amount out of school. You could, but most don’t get those “starting pays”. Then your 300k in debt working as a paralegal making significantly less until you get experience in order to get that 1/4 million salary.

[@ChandlerHawkins-qf6sp]

The only relay question is do you want to be a lawyer?

[@alezandradavila2581]

No come to Valencia … then ucf you won’t be in so much debt

[@jimmymcgill6778]

Sounds like he doesn't know what he wants to even do.

[@MrOfficer235]

How is this even a debate

[@stephenshelton4267]

People will do anything to get out of working a job.

[@maximustrolleus9860]

but isnt being a lawyer an extremely stressful job? if anything they are willingly adding more stress to their life because its shows work ethic and ambition. anyone who has the work ethic to go to law school has my respect

[@stephenshelton4267]

@@maximustrolleus9860 He's probably excited about the idea of being a student instead of the boredom of accounting.

[@Stephan2P]

"Better Call Saul"

[@Boc3phu5]

No. Move on.

[@Mr_Fairdale]

Law school didn’t cost me that much, yikes. I need more info

[@hvaball150]

lawyer is a good profession to become a millionaire, is it not?

[@wittyusername9544]

For a soon to be CPA, he is bad at math. I typed a super long comment but erased it because you don’t even need it.

[@d3r3kyasmar]

No. Dont go on debt going back to school.

[@chrisholding2382]

Your calculator might be broke you need a new one

[@rayhill5767]

Do I want to be boring and dull or do I want to be an evil creep. Choices

[@9770G]

lol ya making 210k a year IF u make it into a big firm. Plus u will be working 60 hours a week more than likely to make that 210k, not 40 hours a week.

[@Whoiskevinjones]

Get a job!!

[@rnt45t1]

This has to be a troll question....

[@TheKrystolMethod]

At least 20k is about to be gone. 🤷🏿‍♀️

[@jacqueline716]

If you're talking about forgiveness, that would only apply to loans taken out before July 2022, so this guy wouldn't be a beneficiary.

[@cjmor6590]

ur parents didnt work hard enough for u to afford law school pick something else

[@dwill9256]

BuT iTs fOr a tOP 14 law school. For those who know what I mean know what I mean..

[@mikelee9173]

Yes. This trash of an administration will probably forgive that as well lol

[@yourgooglemeister6745]

Should have called Aaron Clarey