College graduates' average student loan debt has reached an all-time high of $26,600, a new report found Thursday.
While college grads have it tough, the debt crisis for law graduates is a totally different animal, Paul Campos writes in "Inside the Law School Scam."
A law professor himself, Campos points to three major reasons why law school grads might be worse off than college grads.
- Campos says law schools have misled students as to the economic value of their degrees in light of the terrible market for lawyers.
- A law graduate incurs much more debt than the average college graduate. While undergrads had an average debt load of $26,000 in 2011, the average debt for private law school graduates was $125,000 last year, the ABA Journal has reported.
- Lastly, the actual system of teaching in law schools is a mess, because law schools are bad at teaching people how to be lawyers and giving them the liberal arts education they already got anyway, Campos said.
Steven Davidoff, another law professor, has argued that law school gets a bad rap, pointing out that veterinarians pay even more for their graduate education with less of a pay-off.
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