Sunday, January 9, 2011

this is too easy

adding to the din of those doubting the merits of a J.D., the times published a lengthy article on how law schools manipulate employment statistics. yes, turns out law schools are very creative when it comes to revealing their graduates' employment rates, and there is virtually no oversight or market correction.

the article highlights the tribulations of a recent graduate of thomas jefferson law school (wha? yeah, fine, i sound like an elitist here, but wha??) saddled with $250,000 of student loan debt and minimally employed. i really am unable to discern why this person agreed to be profiled because, frankly, he comes off as an utter idiot. let's see here:

1. hmm, well, at least he'll be marrying a fellow moron:

Mr. Wallerstein is chatting over lunch one recent afternoon with his fiancĂ©e, Karin Michonski. She, too, seems unperturbed by his dizzying collection of i.o.u.’s. Despite those debts, she hopes that he does not wind up in one of those time-gobbling corporate law jobs.

“We like hanging out together,” she says with a laugh.

oh yeah, big firms love THOMAS JEFFERSON LAW SCHOOL. the school's name doesn't even make sense. why is there a school named after TJ in san diego?

2. Mr. Wallerstein rented a spacious apartment. He also spent a month studying in the South of France and a month in Prague — all on borrowed money. There were cost-of-living loans, and tuition of about $33,000 a year. Later came a $15,000 loan to cover months of studying for the bar.

$15,000? how?

3. Today, his best guess is that he should be sending $2,000 to $3,000 a month in total, to lenders that include Wells Fargo, Citibank and Sallie Mae.

“There are a bunch of others,” he says. “I’m not really good at keeping records.”

no, c'mon dude. as someone presumably seeking to stay as an attorney, please do not announce to the world that you lack one of the profession's most fundamental skills.

4. “It’s a prestige thing,” he says. “I’m an attorney. All of my friends see me as a person they look up to. They understand I’m in a lot of debt, but I’ve done something they feel they could never do and the respect and admiration is important.”

5. “Bank bailouts, company bailouts — I don’t know, we’re the generation of bailouts,” he says in a hallway during a break from his Peak Discovery job. “And like, this debt of mine is just sort of, it’s a little illusory. I feel like at some point, I’ll negotiate it away, or they won’t collect it.”


bowis said...

he did TJ law school no favors.

Jazzie Casas said...

To quickly pay Off student loans look into what tax breaks you may qualify for by paying on your student loan. Tax breaks can really help you to save money so that it can be devoted to paying off your student-loan debt. Depending on what tax bracket you fall under and your job, you may be able to deduct your student loan payment from your taxable income. Consult with an accountant or financial adviser to conclude your eligibility.

home and garden design