May 19, 2011

THOUGHTS ON THE DECLINING NUMBER OF WOMEN LAW SCHOOL GRADUATES: “As tuitions have gone up and law school debt has increased, young women might be making the decision on the front end that the cost of legal education is not worth it over the long run, in relation to career benefits. The issue is not the profession — it is, rather, whether the long tail of law school debt repayments justifies the upfront expenditure. If it is the case that many young women looking at the law school decision are also thinking about marriage, family, and children, if law school tuition and attached debts rise high enough, they might conclude that despite the professional opportunities (which have shrunk considerably since 2002), the debt is not worth it in terms of family cost.” This is exactly the kind of thought that’s going to lead to the higher education bubble bursting in general. But it makes sense that if you expect to take time off from your career, you’d reach your payoff decision threshold earlier.

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