Thursday, January 16, 2014

One Crushing Tale and My Letter to a 0L

File this one under “there but for the grace of God go I.”  Here’s a profile of Andrew Carmichael, a “whiz kid” who racked up law school debt totaling $215,000.  Yep, that’s not a typo.  Two hundred fifteen large.  Just to put that in perspective – most people in this country could own a house outright for two hundred fifteen thousand dollars.  Meaning, Andrew took on law school debt that could have financed a home.  Meaning, he’s now looking at a student loan payment the size of a mortgage (to the tune of $2,756 per month).  Thank goodness mortgages are totally easy to pay off and have never gotten anyone into trouble.  

Spoiler alert: Andrew did get a great job after taking on all that law school debt, so it wasn’t a total waste.  He is now employed…as a computer programmer.  Yep, that’s also not a typo.  He is now a computer programmer.  I'm no expert, but last time I checked, a lot of computer programmers were scraping by without JD's.