Law School Worst Recession Safe Haven

During The Great Recession many undergraduates have found that finding a decent paying entry level job is very difficult.  In many cases competing against seasoned candidates their parents and even grandparents ages.  With looming student loan payments many fresh grads have looked to return to school to stall repayments hoping a good job will appear.

One of the most popular options is law school.  This is among the worst return on investment options for students looking for a safe haven.  It is so bad in the legal world we’ve seen law firms file bankruptcy to buy each other, a law grad sue for lack of employment and win, and a new option to refund first year tuition to students to drop out instead of racking loans that are nearly impossible to repay.

Law schools also are not fond of reporting employment rates for graduates like many other graduate programs.  One report states that only 11% of schools indicate how many graduates are in full-time legal jobs.  Only 1% are willing to indicate how many are in full-time, long-term jobs.  In other words only 1% of schools will tell you how many graduates have secure non-contract based employment.

Consider a different major if you must hide out from the economy.  Better yet get a job and start chipping away at your debt load.