Should I Take Out a Student Loan for Law School?

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Title	:	Should I Take Out a Student Loan for Law School?
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Comment from : The Ramsey Show Highlights

What accredited decent law schools can you make 40k a year and pay your way through school? Decent schools cost 30k or more a year to attendbrAlot of ppl who haven't been through law school assume they know the work load when in reality they have no clue Law school and undergrad are two different beast
Comment from : Quinten

How would people afford schools if they don't take out loans? Like people going to become nurses and doctors
Comment from : Danie

Why is everything so all or nothing? Try something in the middle: work and save for living expenses Take out a loan only for tuition and books Also, try to work during vacations or between semesters
Comment from : Ay B

Chris' mind is gonna be blown when he finds out its 17 trillion not billion lol
Comment from : Ben Truong

Spot on Dave, thanks
Comment from : Andre Munk

I am not as hard-lined as Dave when it comes to studet loans I believe that there are circumstances that allow for student loans The degree needs to be worth it(marketable and in demand), and you have to have demonstrated an academic ability to achieve the degree In other words, there has to be a high probability that you will complete the degree, secure a job that requires the degree, and pay off the student loan within two years If all three of those are a yes, I'm good with that I graduated in 1993 with a BS in Electrical Engineering and had $15,000 in student loan debt Paid it off quickly with my first job that paid $30,000 Fifteen years ago obtained my Master's (cash flowed it) Currently work for the Government with a six figure income, Roth IRA, TSP (401k), and an annuity waiting for me when I retire (early) I'll never regret getting that student loan
Comment from : H and M Johnson

I took out 190k of student loans to pay for law school Best decision of my life, from both career satisfaction and financial standpoints Only do that if you are close to certain you can get a job in a big law firm (which probably means you only take out loans if you can get into one of the top 10 schools) and will be well suited enough to the job and diligent enough to stick around at a firm for 5ish years brbrIn all other cases, it is hard to recommend taking out significant student loans for law school
Comment from : Gilamang

Ohhh Dave said "be nice to him" 😂😂😂
Comment from : Masoda Dominique

Taking out debt, and delaying entry to the labor market The "debt and delay" model Popular, and scary
Comment from : Investor Clarity

Robert, don’t take the advice of these two non-lawyers Go ahead and take out the loans and go to law school I came out with more thank $100K in loans after law school and paid them off expeditiously You can too
Comment from : Jason

Law school is not a part-time degree Study as much as you can to get a good LSAT score that leads to a scholarship and less debt I’m much better off for taking my loans and getting my career started in law Don’t pay for prestige A solid state school provides great value!
Comment from : Carlossinparar

Law school is statistically one of the worst investments
Comment from : Sean B

David Georgia: Personal Preparedness & Finance

Thankfully there is no career that can't be cash flowed You just have to think more critically and not take the lazy way out of student loans
Comment from : David Georgia: Personal Preparedness & Finance

if he does not pass the bar at the end he could always work for CNN as an expert
Comment from : mikeb270

He'll be earning enough to payback that loan in 1yr Wy make his time miserable in law school instead of focusing on school? Stupid advice!!
Comment from : DDB

Currently a 3L finishing law school at UND I'm top 10 in the class and am cash flowing schoolbrbrWe saved before I went I worked occasionally during school and worked overtime during summers, applied for every scholarship, and tightened our lifestyle to nothing DO NOT WORK YOUR FIRST YEAR If you do, you will have trouble Save up until you can cash flow and live the first year After that, you can get a part time job and be fine brbrLaw school is very intense and a ton of work Be sire you are ready Money problems will cause unnecessary stress Stick with the babysteps and pay cash
Comment from : W Logan Caldwell

Dave should I use student brloans for my MFA in brLeft Handed Puppetry? 🤔
Comment from : harrison wintergreen

That’s nice though that law school offers that as an option to go part time so you can work some I know pharmacy school, medical school, and dental school don’t Offer that so unfortunately the only way to pay for those degrees outside of family money or possibly military is student loans Remover graduate/professional school can be 60 hour a week job on its own
Comment from : Zach Walters

For the love of god if you care at all about your futureDO NOT GO TO LAW SCHOOL! Lawyers are already becoming obsolete and you can get statistically better legal advice from a computer than a human Use your intelligence for something that is just as fulfilling and can support you financially
Comment from : Nic E

There are a lot of sharks in the sea My ex-wife was a legal secretary and worked for a one man law firm for many years I'll just leave it therebrbrI know of two young women who attained masters and phd degrees on student loans They sacrificed for many years to get them paid off before embarking on their livelihoodbrbrGood luck!
Comment from : Too-old Forthischet

This is ridiculous advice, in my opinion Students don’t go to law school full-time and work an outside job You guys are totally out of touch with reality
Comment from : E T

My sister is 28 and 350k in debt from law school/cmu She is a state appointed attorney right now making like 48k a year I’m 29 and I’ve got about 5k in debt and make about 50k a year Granted some day she will make more than me but not for a LONG time
Comment from : jake tryban

He has $15,000 in “safe” stock that he expects to grow 33 by the fall?? Uh
Comment from : JP

Don't take law school loansthey WILL hamstring you Pay as you go Do it in 5 years instead of 3 years full time Finish without that debt I know first hand how it hamstrings your career start Its not fair, but some state bar associations will hold your debt against you when you apply to take their examso just don't borrow
Comment from : J Jr

How can you go to school without a loan?
Comment from : Loftis Jason

Honest question, could he continue to work for 2-3 years to save up? Or would he need to re-take the tests? His wage is really low, but I’m guessing he could pickup another job to supplement that 30,000 he’s making That’s what I would do if I felt passionate enough about becoming a lawyer if it was possible
Comment from : Kevin Baum

Why did you call Marriot workers at $8 per hour Twerps? As a long time fine that's disappointing and is something you should call out
Comment from : Jack Roberts

Lol this dude, “I’m hoping my 15k investments will grow to 20k by the time I start” yeah good luck with 33 percent returns in a couple of months while still managing risk lol
Comment from : Gabriel Rodriguez

yes, biden is going to forgive all the loans Free Money!!!
Comment from : Midlife crisis

Come on, now You know what the answer isedit: haha Hogan took the words out of my mouth!
Comment from : Nt Mn

It would be worth it if ur going to schools like harvard
Comment from : Batmunkh N

I don’t like Chris because I think he believes knows too much and sometimes is too arrogant
Comment from : S F

It seems a lot of people are taking out student loans for housing costs Unless there are drastic circumstances, or your desperately poor, I don’t know why parents do not let kids live at home while they are in school
Comment from : Lieu Hazelwood

Hoping your stocks increase 30 is not a plan What if they go down 30, like they did in March 2020?
Comment from : JDave Foster

Reading the title and knowing Dave's answer before hitting play
Comment from : Anne the Nurse

Horrible advice
Comment from : TheRandySmith

Just take out as much student loan as possible Biden will forgive all
Comment from : JB CH

Sure if you want a debt that will take you 15 to 20 years at the least to pay off
Comment from : S B

This is the law school student loan trap, which my ex-wife fell into In fact, the only thing that she says that she hates more than me, is her law school (Georgetown) Now l am not sure that she really hates her law school more than me, but she has a level of debt that she will NEVER be able to pay off Don't be that person, because law schools make big promises but payout like a lottery
Comment from : mpeugeot

I would recommend he gets some powerscore books and study like crazy If he gets a 165 I’m pretty sure that he can go absolutely anywhere in Florida for free You could become a paralegal if you don’t pass the bar I personally know a paralegal that makes 70000 a year Good luck 👍🏼
Comment from : Phillip Abreu

College tuition has increased due to government lending of unforgivable student loans Why not collectively raise tuition if itbrMeans governments will lend it and students will borrow it? brbrAlso, want tuition to skyrocket even more? Forgive the student loans on the backend We’ll see million dollar tuition soon
Comment from : Wreckanize

I agree that things may not work out and you may be stuck with big loans This happened to me with medical school I was tremendously blessed to get a cushy position as a corporate doctor in research However I personally know of people with $500k in loans who could not get into residency and only make about $50k now It’s a huge financial risk but I know if you feel it’s your calling it’s hard to resist
Comment from : HelenaJ

How you gonna cash flow law school from delivering pizzas? 😳😬😜
Comment from : Lego Time

If you are that passionate about becoming a lawyer than move to a state/ city where law school is cheaper For instance Med school is cheaper in Texas
Comment from : Popcorn Ken

Can i get Dave’s number ?
Comment from : Samgalliano Claricia Nzuzi

Unless you are planning to be a lawyer - and not just looking for another thing to add to your resume - don't do it I know plenty of people with law degrees that are working in jobs that they could have had without the time, effort and expense of getting a law degree It might have helped them get the interview, but unless you want to work in a law firm, don't bother An MBA would be a better use of time and expense
Comment from : alienresearchlab

Would be better off taking out a loan for some financial therapy
Comment from : 1jw2

my ONLY debt is 17k of stupid in the driveway
Comment from : Clarifying Questions

I have said this in another Ramsey video, but it is worth saying again Law degrees are basically useless these days They have been mass produced by for-profit law schools which completely saturated the market with lawyers Unless you are well connected and get some highly competitive internships, you will be making $30K as a lawyer coming out of school AND you will be grinding brbrI know too many people who thought going to law school was going to guarantee them a high paying and enjoyable job that is no longer the case Heck, I know a lawyer who had to enlist in the Army to get his student loans paid off because he was so upside down going to law school brbrRe-think your life plans bro Please
Comment from : C Castagno

Lawyer do three things I avoid, 1 going english, 2 , know what in the huge database of law and most common parts, 3 be near cops with guns
Comment from : Sunny Days

He doesnt have a choicebrTake the loan make sure u graduate
Comment from : john done

Dave is right, it's 15 Trillion
Comment from : Peter Cheng

Do people honestly have 160k saved up for law school? It's great if there's savings but that's not realistic for majority of people, hence the $17 trillion student debt epidemic as mentioned Granted, there are cheap options for Tier 3-4 law schools but if you're looking for return on investment, you're trying for at least a Tier 2 ranked law school which aren't cheap
Comment from : Marc Butiong

Come on Dave It all depends on where you're going to school If you're going to an Ivy League law school taking out a loan might not be such a bad idea Dave is always NO LOANS NO MATTER WHAT That's a mistake sometimes
Comment from : J T

I have a bad feeling about this guy in law school, if he called Dave Ramsey and wasn't even able to do the basic research about Dave Ramsey and debt He has a loan on a car that's over 50 what he makes in a year, strike one He has a bunch of savings despite being in debt, strike 2 And he called FREAKING DAVE RAMSEY to get advice about taking out a loan That's not even a strike That's something that gets you ejected from the game and banned from the league
Comment from : agjios

Only the Ivy league schools are worth student loans The top 10 law schools in the country Otherwise, it is a risk
Comment from : AAron

I wish there was a way to self teach with books and learning on the job which could gain the piece of paper that we pay a fortune for when we go to college It is such a rip off
Comment from : Natashahoneypot

The dirty little secret here is that all three of Dave's children went to school on Dave's dime but not everyone has Dave for a father 90 of this issue can be solved with personal responsibility and not taking out loans, agreed But don't assume that everyone has the same starting position on this planet
Comment from : t

Unless I got into a top 15 law school, I wouldn't even consider being a lawyer too financially risky
Comment from : Superior 120V

Maybe he can be a rich lawyer in the district of criminals in Washington where they scam money for all their own
Comment from : Ashlee M

Horrible advice Do they not know how much law school costs?
Comment from : Chelsea

Meanwhile I served 3 years in the Army, I have my Master's Degree because of my GI Bill and I make over $250,000 a year working as an aerospace engineer for Lockheed Martin "Money for nothing and my chicks for free"
Comment from : Vanquish Media

Dont go unless you have a STEM degree or get into a top ten law school The higher your law school ranks, the easier it will be for you to find a job If you have a stem degree you can do patent litigation which is always in demandbrbrYour class rank is also critical Even at a top ten school Unless you rank in the top half, it will be difficult to land a top paying job At at 2nd or 3rd tier law school, you will need to be in the top ten percent or even one of the top 3 or 4 students And when you graduate, be prepared to work 60-70 hours a week
Comment from : Billie J

I don’t think student loans are inherently bad, there’s certain professions where you may need to use them like becoming a lawyer or doctor The most important thing is to try to take out as little as possible and have a plan to pay them back as quickly as possible
Comment from : Dear Debt

I seriously regret my student loans If only I could go back in time!
Comment from : Teanna’s Channel

OMG, I read the title and thought "This guy must be an idiot!" That's equivalent to calling the CEO of Weight Watchers and asking "Is it okay to eat German Chocolate Cake 3 times a week and still lose weight?" GOOD LORD PEOPLE!
Comment from : Nedra Hines

I took out a loan for grad school for a two year program and it paid off in the long run I would have went to a much less expensive school but that one was extremely hard to get into
Comment from : Cathy OSullivan

I would never take out loans to go to a law school lower than a T14
Comment from : Nathan Comfort

I like Dave and his advice but he's living in a baby boomer bubble when it comes to student loans He lived in a time where you could work and cash flow college The problem is the cost of college has skyrocketed since the baby boomers were young and wages have been stagnant for decades They didn't answer his question about how he should pay for the entirety of his education If you take and pay for one course at time like they said, you're going to be going to law school for a very long time
Comment from : JALUPIify

This whole thing is silly and almost no one in the comments knows the law school process He should retake the LSAT and score high enough for a full ride or close to full ride at a lower ranked school - unless he gets into a T-14 I’d take the loans out for HYS but beyond that it’s silly Law schools offer full rides to top students He can also go to school part time and work full time, as there are many programs that offer that as well
Comment from : S W

😁✌🖖👌👍😎
Comment from : john mirbach

Education can be a great investment, but its a competitive world Decisions should be made according to how well a prospective student ranks relative to others in the field The best students get scholarships If a prospective student needs loans, that is already an indication the student is not a top 1 performer Know thy self and act accordingly
Comment from : DrD

I went to a decent law school I treated it like a job -- I went in at 8 am and left at 5 pm When I wasn't in class, I studied But when I went home, I had a toddler to take care of There wasn't time for a job If I didn't have a kid, I could probably have worked At a minimum, make sure you get summer internships that pay If you use that money wisely, you can reduce or even eliminate the "lifestyle loans" that you need to pay your rent Also, focus on scholarship money to reduces your costs And you can use your law degree for other industries and make good money, too
Comment from : tkates

Waste of time, waste of money The lawyer market is absolutely flooded Man up, learn a trade and earn some real money without taking out loans
Comment from : Jim Smith

Idk if I’d work while studying to be a doc or lawyer
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Comment from : Gül 41

College tuitions have skyrocketed over the past thirty years and a LOT of the costs aren't related to paying the professors or providing a better education Today, adjunct professors and those without tenure get paid peanuts to teach at most schools The big money is going to bloated bureaucracies, overly-large departments and lavish benefits for those at the top The students are just a means to the schools' profit-making ends Guaranteed student loans subsidized by the federal government and taxpayers have just added fuel to the raging tuition fire In the end the biggest losers are the students who graduate with mountains of debt that they can't repay with the meager salaries offered if they are lucky enough to land a job On the other hand, I've never known a poor plumber
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