Think of this as a 2-step question:
- Is law the ideal career path for me specifically, given my personality, skills and interests? (So many young lawyers quit the law and go into another line of work after a few years that it's not worth the investment, no matter where the degree is from.)
- Is the specific law degree that I can get worth the cost? (That depends; a law degree from a school ranked #100 is not worth it, but a law degree from a school ranked #10 is, most likely.)
Only if the answers to both questions are “yes”, then “a law degree is worth the cost in today’s economy”.
I agree with HappyAlumnus, with the following qualifier. Many young lawyers quit the law and go into another line of work after a few years of law practice. True. However, some of those people still use their law degrees or the analytical skills or advocacy skills they acquired in law school and the early practice of law in their new fields. Some obtain their non-lawyer jobs because of the law degree and legal experience on their resume. Many of these would still answer that their law degrees were worthwile. However, some people can’t run fast enough away from law and turn to basket-weaving, grocery bagging or yoga instruction. Those young people will certainly wish they never had to deal with the law school debt. I know both types. And btw, one of the people who left to become a yoga instructor returned to the practice of law about 5 years later and she’s still practicing a couple decades later.
In general, if you get into a good school, the degree will quickly pay for itself and you’ll never regret it. But, going back to my earlier posts, you gotta want it. This is a miserable field if you’re not doing it for something other than the money and job prospects.