Economic Law School Myths

1. Lawyers all make lots of money.
Well, certainly some do. However, check out this graph from the National Association of Legal Placement. The majority of graduates are making considerably under $100,000 a year. Other observations:
This list includes Harvard, Yale, Stanford, etc. These top schools skew the numbers greatly.
Also, all these stats are self reported. Could grads making lower salaries be reluctant to respond to salary surveys. . .

2. Public law schools are cheap.
"Cheap" is always relative. Many public schools cost $15,000 to $20,000.

3. Federal loans are cheap.
6.8% cheap? Would you borrow money to invest at 6.8%? Maybe, but you'd be careful.

More updates to come including some personal updates.