"Unfortunately, the occasion for me writing to you is not a happy one. As a 3L, my peers and I find ourselves in the midst of one of the worst job markets in the history of our profession. A few of us have been able to find employment, but the overwhelming majority of us are desperately looking, and unable to find anything. We are discouraged, scared, and in many cases, feeling rather hopeless about our chances of ever getting to practice law.
To compound our difficulties, many of us are in an enormous amount of debt from our legal studies. Soon after our graduation, we will be asked to make very large monthly payments towards this debt, regardless of whether we’ve been able to find employment or not. It is a debt which, despite being the size of a mortgage, gives us no tangible asset which we could try to sell or turn in to the bank. We are not even able to seek the protection of bankruptcy from this debt."
Full Text of Letter
Mwahahahahahahahahahahahahaha! Yeah, good luck with that! Let this be a lesson to anyone contemplating going to law school and borrowing $100k or whatever it costs these days. I know from personal experience that the schools couldn't care less if you get a job once they've already got their money; and never forget, these schools are in the business of making money. And guess what? Once you've borrowed money from the Feds, there is NO WAY OUT of paying them back other than DEATH. Think you can declare bankruptcy and get a fresh economic start unburdened by all that debt? Think again. Student loans are a big, gaping exception to bankruptcy law.
I posted this before, but I'm going to post it again in honor of this letter.
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