I graduated from law school in the beginning of the millennium. Although I am extremely resentful of my law school and every last penny that borrowed under the false assumption that it would be a cinch to pay back--I owe well under 100K. Every check that I write to KHELC is written with my blood as ink and my heart is torn from my chest every time the check clears. But, I realize I am lucky (relatively). I was cruising the blogs and I found one entitled "The Debt Chronicles."I nearly fell off my chair when I read this:
Student Loan Debt
Sallie Mae $141,891 -- Payments starting in Nov '10: $974.45/mo
Direct Loans $10,301 -- Payments starting in Nov '10: $63/mo
Student Loan Debt (to be added in the next 1.5 years)
Sallie Mae $25,566
I guess she wrote about it while she was incurring it. So, that's $175K and bar loans and BARBRI and the debt one incurs while studying for the bar exam... whatever. It's $185K and I'm trying to be conservative.
What really knocked me over was her subsequent comment:
It's a J.D... potentially very lucrative. :)
If by "potential," she means 1 in a 100 chance--then I may agree with her. I'm happy I don't know this little kitten. If I did, I would shake her until I knocked her brain right. The lottery is potentially lucrative, but you don't see me buying $185K worth of lottery tickets on the off chance that I'll win.
As it stands, being a lawyer is not lucrative. Being a mechanic or an electrician is--but people that go to trade school aren't willing to pay $185K to learn their trade.