Comments on: Harvard Law School: The New Community College http://queenofswords.wordpress.com/2008/05/26/harvard-law-school-the-new-community-college/ Speaking the truth and taking no prisoners. Sat, 27 Sep 2008 10:42:09 +0000 http://wordpress.com/ hourly 1 By: theobromophile http://queenofswords.wordpress.com/2008/05/26/harvard-law-school-the-new-community-college/#comment-2216 theobromophile Tue, 27 May 2008 04:08:06 +0000 http://queenofswords.wordpress.com/?p=474#comment-2216 But those dreaded corporations do things like... employ people, who are then able to put food on their family's tables. Grrrr. Capitalism is, hands down, the best way to ameliorate poverty. I hate when people really want us to all be poor, suffering, and scraping by together. But those dreaded corporations do things like… employ people, who are then able to put food on their family’s tables.

Grrrr. Capitalism is, hands down, the best way to ameliorate poverty. I hate when people really want us to all be poor, suffering, and scraping by together.

]]> By: lewdandlascivious http://queenofswords.wordpress.com/2008/05/26/harvard-law-school-the-new-community-college/#comment-2215 lewdandlascivious Tue, 27 May 2008 02:58:17 +0000 http://queenofswords.wordpress.com/?p=474#comment-2215 Exactly. Which is why young lawyers with crippling debt take jobs at law firms: so that they can be assured of making a good living. At a law firm, you know you'll get steady raises. And contrary to what faux-martyr Harvard socialists think, a person can do good and honorable work in law firms and yes, even for the dreaded corporations. Exactly. Which is why young lawyers with crippling debt take jobs at law firms: so that they can be assured of making a good living. At a law firm, you know you’ll get steady raises. And contrary to what faux-martyr Harvard socialists think, a person can do good and honorable work in law firms and yes, even for the dreaded corporations.

]]> By: theobromophile http://queenofswords.wordpress.com/2008/05/26/harvard-law-school-the-new-community-college/#comment-2214 theobromophile Tue, 27 May 2008 02:54:51 +0000 http://queenofswords.wordpress.com/?p=474#comment-2214 My loan payments, over 10 years for federal and 20 years for private, will cost $1050/month. If I want to not be in student loan debt in my 40s (and pay almost $100,000 <i>in interest</i> on my private loans alone), then I'll have to pay about $1,300/month. In Massachusetts, a salary of $50,000/year will be taxed somewhere around 30%. So you're actually left with about $34,000/year. Take of loan payments, which, at a school that costs more than our alma mater (the cheapest of the privates in the top 25, and the same cost as some top publics), and you're looking at $20,000/year in student loan debt. Great. You're a professional, age 30, with no nest egg, no retirement savings, and you've got $14,000/year to make a living on. You would be financially better off never having gone to law school and taking any white or pink collar job (secretarial work, bank teller, etc). Once it becomes unprofitable to invest in human capital, people will stop doing it. My loan payments, over 10 years for federal and 20 years for private, will cost $1050/month. If I want to not be in student loan debt in my 40s (and pay almost $100,000 in interest on my private loans alone), then I’ll have to pay about $1,300/month.

In Massachusetts, a salary of $50,000/year will be taxed somewhere around 30%. So you’re actually left with about $34,000/year. Take of loan payments, which, at a school that costs more than our alma mater (the cheapest of the privates in the top 25, and the same cost as some top publics), and you’re looking at $20,000/year in student loan debt. Great. You’re a professional, age 30, with no nest egg, no retirement savings, and you’ve got $14,000/year to make a living on.

You would be financially better off never having gone to law school and taking any white or pink collar job (secretarial work, bank teller, etc). Once it becomes unprofitable to invest in human capital, people will stop doing it.

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