Kids, Law School May Be a 'Ruinous' Investment

The lousy economy has lots of new college grads moving back in with the folks and heading to law school to wait out the job market. Very bad idea, writes Elie Mystal at the AbovetheLaw blog. "You know what’s worse than walking around with a bunch of college debt and no job?" he asks. "Walking around with college debt and law school debt, when you are three years older and you still can’t find work."

Yeah, good-paying jobs are hard to come by these days, but that's no reason to rack up more debt on a hunch things will improve. And don't forget all the opportunity lost in the real world because your nose was buried in books. Mowing lawns for three years might be a better bet. "If you want to wait out the terrible job market, consider waiting," he writes. "Getting additional education isn’t waiting, it’s doubling down on the bet that 'education' is the key to professional success." (More law school stories.)