Finding a Job as a Law Student

I got friends in high places, where the money pours in and the women chase their non-existent blues away.  They'll be okay...

Sometimes I look at my life and I look at the things which are lacking.  I have never worked a real job, nor have I ever had a real income (I once worked part time at $13.25 an hour which was really nice at the time).  However, that being said, the idea of working in the private sector scares me greatly.  After some of the places I have worked, I have found myself unhappy.  For example, in the jobs I have found myself at, people tend to only fend for themselves, and really not care about the feelings of the employee.  At the same time, the employee is told that the customer, no matter how wrong, is always right.  No matter what they say or do, they are right, and we are wrong. 

I want to change my outlook on life.  I do not want to think that my life is lacking.  I do not want to think that I would be happier in some position making money.  I tell myself that I would one day like a piece of land or something like that (I am starting to get sick of apartment living).  However, I feel at the current rate of my earnings in life, that is a long time off.  I mean, if I can't even get a summer job at Starbucks, how am I supposed to bring in a solid income?  What was the point of my Bachelor's degree if I can't use it to find a barista job?  It is really annoying to me, as I spent a lot of time and money, and lived in relative squalor to achieve it.  After it was said and done, the friends I had in high school who decided to not go to college are making far more than I do.  It is crazy, to say the least.

For example, this semester I will get $11,000 in living expenses in loans.  My rent is $1,300, which is far more than I wanted to pay, but it took me a long time to get the place I have here in NY, as I did not have a cosigner, I have no job and income, and every other landlord I talked to said they would not take a student.  For five months that comes out to be $6,500 in rent.  Then I need books and money to get to school, food and utilities (I don't eat much, nor do I go out and 'enjoy life').  Further, I will need to put some money aside for next summer, as I don't get aid in the summer (will be graduated) and what am I to do then?  How will I pay rent without any money coming in?

I find myself thinking that even if I was lucky enough to make $35,000 a year I would be doing far better than I ever have.  In fact, after being in college most of my adult life, I have never once had that kind of money come in during a year.  With my frugal lifestyle I could probably save up something, and on top of that, with an income I could probably get a cheaper apartment.  Since I don't drive and rarely go out, I would be saving more.  If anything, college has taught me to be frugal and cheap.  I have realized I don't require much to live on, nor do I find myself wanting much.  I have realized that most material possessions are a waste of time and money.  Yet, at the same time, I would like to make some type of money.  Is it really that hard to find a decent job?  Hell, I am at the point right now that if I could find something, almost anything for $35,000 I would quit law school in a heartbeat.

In a heartbeat...

Someone Has to be the Guinea Pig...

I am proud to say that I am the very first in my family not only to go to college, but also to go to law school.  That being said, my family has no clue what law school is like or what the legal profession is really like.  Recently I talked to a family member who said that I was probably going to be "set for life."  I did not know what to say to this, as I expect utter hell ahead of me to find a job - and I have little to no hope of success.  I have also considered joining the military, teaching English outside of the US, or leaving the US upon graduating for other work as other options.  I fully expect to have to settle for one of these options.  After all, who am I, a bottom of the class law student in a lower tier law school, with very little work experience and no connections, to expect something better?  I have also prepared myself for work at Starbucks or in Fast Food, as I at least have experience with that sort of thing, and while I hated it, one has to do what one has to do to survive.  I have resigned myself to the idea that I will never own my own home or partake in any such large purchase using credit.

Being the first in my family to go to college and law school, I have realized that I am the guinea pig.  When I started my undergraduate 'career' I took out much loan money.  I did not live at home, nor did I consider that a viable option at the time due to issues that were taking place at home during that time in my life.  As such, I incurred much extra debt to cover rent.  At the time I lived in Seattle, WA shortly after the wake of the 9/11 attacks.  The airline industry, which is huge in Seattle, was severely hurt due to the attacks.  Boeing and other large companies had laid off many workers, making the unemployment in Seattle and Washington state skyrocket.  Finding a job at that time was quite hard, so I did school instead of finding a job.  Sometimes I sit back, and think, to the sounds of NIN or Rancid blasting loudly on speakers behind me, what would have life been like if I had went to work instead of school?

I moved out of state and transferred schools to finish my undergraduate degree.  After that I moved to the east coast for law school as I was not accepted to any of the west coast schools I applied at.  I am sure this is quite common, as I know of a lot of TTTT and TTT students on the east coast from places such as California, Washington, Oregon, etc.

As I have gone through college and know the reality of the college 'experience' and the 'real job market' that exists after college, I could help my own children with the whole college experience.  Problem, I do not plan on having children (never felt the want to) and I don't think I would have any with such debt even if I wanted some (which, again, I don't).  Therefore, even though I have served as the Guinea pig, I will not have any children of my own to tell about the results of this experiment.  Therefore, I am a wasted experiment in many ways.

Yesterday I was told a niece of mine is gearing up to go to college.  She lives on the west coast and I don't talk to her, except when visiting (once every couple years, maybe).  She is from a lower income family and her mother has done a couple years of college, but never finished.  Like me at one optimistic time, my niece probably imagines that college will lead to wealth.  Her boyfriend comes from a family that is, according to her mother, 'well off'.  Of course, the boyfriend's parents are boomers who succeeded partly due to college.  Surely these boomers paid little for their educations and are reaping the rewards.  If my niece goes to college, surely she will end up 'well off' just like them, right?

I imagine she will one day have children of her own, and one day can be the Guinea pig of her family, telling them about her college experience and the results of it.  Who knows, maybe my niece will find success.  Maybe she will win the college lottery.  I hope she does.  Since her mother has some college experience, I am sure she can benefit from learning about not taking out loans and living at home.  After all, I was informed that she does not want to talk out loans at the outset.  That's great.  I wish I knew not to back then.

I will graduate law school with around $200,000 in loans.  I do not share this tid bit often as it's somewhat disheartening to think about.  However, at the same time, I know my situation, and I know that even if I make $100,000 I will not be able to buy a house for a few years.  I know, however, that I will not make this kind of money out of law school.  People at my school who think they can make this much, and who are not in the top 1-2% of the class or who are not well connected are fools.  There is no nice way to put it.  It's the honest truth.

However, that being said, they too, in a way, are Guinea pigs.  They will eventually realize the absolute hell that is before them.  They will have the sleepless nights, the fear of the reoccurring nightmares of law school, and the unending lament of having went to law school in the first place.  Many will break.  Some will kill themselves (oh yes, they will).  Others may end up in prison, which, may not be a bad alternative, as there is no debt and job search in there to worry about (sore rears, that's another story).  Others will flee the country, feeling the shame of not being able to have paid back their debt.  Having left the US on a few occasions, the idea of leaving the country does not bother me.  However, what does bother me is not having a choice.  What bothers me is having WASTED years on getting a worthless education.  I have learned a lot through college, but I could have learned it all on my own without paying $200,000.

What a waste...

Bankruptcy for Student Loan Debt?

It has been said that bankruptcy should be allowed for student loan debt.   When I first heard this, I was not sure what to think.   However, as time passed by and I started to think of the situation regarding student loan money being granted to individuals and how this debt plagues some very hardworking people, I started to understand the case for allowing students to declare bankruptcy in order to remove their student loans.

People go to college, generally, to gain the skills to enter the workforce.  Some individuals go to college for seven years or more.   This is the case with law students.  However, due to the current economy, many law students are finding that there are no jobs for them.  Yet, what is there for them is six digit student loan debt.  Furthermore, many students were sucked into the higher education system as a result of being told all their lives that college was not an option, but a necessity.  That in order to be even remotely successful in life, you need a college education.

Sadly, many students are finishing college, expecting to land a good job that allows them to be a productive member of society and reap the rewards for their labor.  However, many students will never have home ownership (or will have to defer it) or will not be able to secure credit for their own business.   Many will be stuck with a very limited income after college, barely able to pay back these massive loans.

Many people go to college in order to do something better with their lives.   The opportunity cost of college is high.  One must defer the earning of income in order to attend college.  This income could be used to pay for a down payment on a house, to start a new business, or to be invested towards retirement.  The person who does not choose college will not have to worry about student loan debt. The person who goes to college feels that he or she is making a responsible choice.  A choice that will benefit them and their family in the years to come.  However, upon graduating, many students are inundated with student loan debt (some also have credit card and other debt, which I will ignore here). This debt is often crippling.  The student can try to enter the workforce with their college degree, but often they will realize that the jobs are just not there.   Therefore, the graduate schools make their siren calls, offering the life of glitz and glamor.  Come continue your education, and reap even greater rewards than your peers.   Young men and women fall for this.   Our parents, teachers, and the rest of society tells us that this is the right choice.  More school is always good.   The more education you have the better off you will be.  However, the reality is, if you can not find work, you will only be in more debt.

Six figure debt is said to be life crippling.  Many people have years of depression ahead of them when they realize that the rest of their youth will be spent trying to pay off this debt instead of doing the things, such as starting a family, buying a home, starting a business, etc. etc. that their less educated friends are able to do.   They were told to go to college, that it was the responsible thing to do, and in the end their reward is a life of desolation.  And they are told, unlike their less educated counterparts, that they can not discharge that debt.  They are told that, even though they worked for years on getting a degree, that the debt is there to haunt them for the rest of their life.

Some individuals are unable to pay such debt, and are saddled with extra payments.  Payments that spiral out of control due to compound interest.  Other individuals flee from the United States, feeling that the only way to escape the debt is to leave their homeland behind.  They become known as the student loan debt pariahs.

One reason that this debt has got out of control is that student loan amounts have grown like crazy.   A person should not be allowed to take out over $200,000 in loans for higher education.   In fact, an individual should not be allowed to take out over $100,000 in loans.  Why?  Because when the loan rates are increased, the tuition increases in step with it.  In fact, college tuition has risen faster than the cost of medical care, yet which of the two gets the most media attention?  Most of the college students I have spoken to have no idea how fast college tuition increases!

The higher education system is one of the biggest businesses in the United States.  It is truly a business in every sense of the world. Ride the New York subway system and see the trains plastered with ads from schools you have never even heard of.  Watch television and see advertisements from multitudes of schools.   Drive around the country and see billboards advertising colleges.  Anyone can join now, thanks to the ease of student loan debt.  If student loan debt was capped, the schools would be forced to reduce their tuition.   Society now thinks that education is a right for all, and people would be angry at the idea that their kids could not go to college, so schools would be forced to reduce their tuition in order to allow everyone to go to college.  To have to pay $40-50,000 for a year of education is ludicrous.  As I said in a previous post, one could go from New York or Los Angeles to Cancun or another tropical locale for the same price as a week of class at some schools.  It truly is out of control.

Well meaning parents tell their children that they have to go to college.  They give up much time that they could be earning money in order to learn to be a better member of society.  They are told what they are doing is great.  Their families celebrate their choice.  They endure 4-7 years of higher education, and then, as a result, are not able to partake in the joys of humanity.  There is something wrong with this picture.   I say let there be some kind of bankruptcy protection for student loans. Maybe after five years.  If a person is unable to find work, why should they be a slave to debt for the remainder of their life?  Why should a well meaning individual not be able to partake in the ability to own a home or start a business?

I say this, because I imagine I will never own a home or property.  At one time I thought I would, but now I realize that the course I have chosen will be to my detriment.   I don't know if I would file for bankruptcy if given the choice, I have come to terms with the reality of the situation and use this blog to warn others and to express myself.   While there is a stigma with filing for bankruptcy, there are some cases in which bankruptcy for student loans is necessary.  Why should the college graduate who worked hard for almost a decade be told that he can not file for bankruptcy, when the higher education system is to blame for the insane and out of control prices of college and graduate school?