Academic

BUSINESS IS GOOD: Law School Applications Up! But this warning is a good one: ?I guess it seems l?

By Glenn Reynolds

BUSINESS IS GOOD: Law School Applications Up! But this warning is a good one: “I guess it seems like a good time to retreat from the job market, but law school goes by quickly, and you will be back on that market very soon, with big debts.” Yes, it may be a good time to be in school, but — unless the feared hyperinflation actually materializes — it’s not a very good time to be taking on debt. And student-loan debt is some of the worst debt you can take on.

UPDATE: From the comments:

As brokers of government power, the importance of lawyers will grow in lockstep with the runaway inflation in the size and power of government.

While we churn out hordes of rent seeking lawyers India and China are cranking out engineers and scientists.

Who will be better off in 20 years?

Good question.

ANOTHER UPDATE: Reader John Maguire wants to know why I think student loan debt is so bad. Basically, as I’ve noted before, it’s because (1) it’s often a lot of debt; (2) interest is high; and (3) it’s not dischargeable in bankruptcy.

Full post as published by Instapundit.com on May 01, 2009 (boomark / email).