<p>I'm a 30-year old with two boys, 6 and 9. My husband is 34 and wants to go to Law School. Plan A hasn't worked out and we are feeling that things are going nowhere with just a bachelor's, plus he's always been interested in corporate law at Ford Motor Company, with whom he's now employed. So we are thinking of going to law school. I was feeling pretty confident that we could get enough loans and grants to pay our way, and we wouldn't have to work much if at all, but after reading about other folks' experience, I'm starting to wonder.. not only are we old, and starting over with another career presents an opportunity cost, but we have two older kids. My question is, should we even bother? Will we be able to sustain ourselves financially on loans and grants? Will we come out 200,000 in debt? I'm getting worried. Maybe it's too late for us.</p>
<p>Unfortunately, I think that only you and your husband can adequately and thoroughly assess the financial, emotional and other needs of your family. </p>
<p>What I can tell you is that if your husband attends law school full time, the loans, grants and other parts of his financial package to make attendance possible will be based solely on his tuition and presumed expenses and room and board for him alone. No provision would be made to support the family with law school loans while he attends law school full time (I am assuming from your message that you do not work). Unless your family would be able to make do with only those resources, it might be difficult, if not impossible, to accomplish.</p>
<p>That said, has your husband considered attending law school at night while continuing to work full time? Now, this is not an easy road to take, and it would take longer to finish law school this way, but it might be an option you should at least consider. Perhaps his current employer has a tuition reimbursement plan that might help?</p>
<p>Please consider, too, when making this decision what level of income you would expect your husband to make after leaving law school. The median salary for starting lawyers in this country (depending to some extent upon geography) is approximately $65,000 - $70,000, so some make more and some make less. You need to carefully consider whether this salary is worth the sacrifices your family will have to make for your husband to attend law school and whether your family will be able to live comfortably and pay off student loans on this salary. </p>
<p>I wish you the best of luck.</p>
<p>While the median starting salary is important to consider, I'd say it is drastically outweighed by your husband's potential starting salary. What I mean is, if he can score high enough on the LSAT to get into a top school and devote enough time and energy to succeed there, he would be looking at around double the STARTING salary that sally mentioned. Just something to consider. Also, an example -- you mentioned he is currently employed by Ford, so I'll give you some stats from Michigan, according to the newest US News Rankings
Average Indebtedness of Graduates: $91,000
Percent of Students Receiving Grant Money: 56%
Midrange Private Sector STARTING Salary: $135,000 - $145,000</p>
<p>Okay, but then another consideration is whether the OP would be willing to pick up the family and move to another location in order for OP's husband to go to whatever top law school to which he may gain admittance. Similarly, would the OP be willing to pick up the family yet again to move to another location, most likely in a big costal city, in order for OP's husband to make $160,000/year starting salary (if the OP's husband manages to get one of these jobs). What about summer associate positions in a different location, which are typically a prerequisite to obtaining a permanent associate position? What about the typically unpaid summer internship after first year of law school?</p>
<p>The statistics that you posted about the University of Michigan reflect the fact that many U of M law school graduates move on to cities like NYC, Chicago, Boston and LA, where the salaries are highest (and the costs of living are often similarly high). Along the same line of thought, a debt burden of $91,000 almost assures that one would have to take a BIGLAW job in order to make ends meet and keep up with debt repayments. Another question, then, that the OP has to consider is whether the OP's husband would be willing to work the kinds of unpredictable hours that a BIGLAW job requires, especially during the first few years, thus giving up time with his family. (On that note, I just finished up an acquisition of a Michigan company who had hired a smaller Michigan law firm as its counsel. Four of the lawyers from that Michigan law firm were at work into the wee hours of the night (until at least 1 a.m.) almost every night last week and all weekend getting this deal closed on Monday. At the end of the day, you don't even necessarily escape the long, unpredictable hours simply by avoiding BIGLAW.)</p>
<p>In my experience, most law students who already have families (though I have not known a law student with a family without a working spouse) tend to stay near home for law school, which limits the options available. Also, especially with school age children, as the OP has stated she has, moving the kids around is also a consideration. Then, of course, there are also the hours to consider.</p>
<p>Even if obtainable in theory, BIGLAW salaries are just not an option for a lot of folks.</p>
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So we are thinking of going to law school. I was feeling pretty confident that we could get enough loans and grants to pay our way, and we wouldn't have to work much if at all, but after reading about other folks' experience, I'm starting to wonder.. not only are we old, and starting over with another career presents an opportunity cost, but we have two older kids.
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<p>Does she plan on going to law school also or is this week reflective of her buy-in of the plan? I also think that she is not working or does not plan to work while hubby is attending law school.
I agree with Sally that Op's husband should probably go part time as one major thing he will be giving up as a full time law student is health insurance. With a spouse and 2 young boys, it is not a risk that I would be willing to take. Is wifey looking to work even a menial job to ensure that the family has health insurance (as he will be able to get insurance as a student through the school's health plan, but would either be very hard or very expensive to cover his family).</p>
<p>Another thing to consider is that they will be young in their law school debt at the same time their sons are starting to look at college where they willb e in a catch 22 perdicament; on paper they may make too much money for need based FA , but they will have too much debt to take out loans to help pay to send their own kids to college.</p>
<p>Thanks to those of you who have posted for your wisdom and advice. I am not looking to go to law school as well, but I do think of us as a unit. Thus, the "we". I guess I should stop doing that! My plans are to finish my undergrad, and yes, I will be working part-time. However, as I have studied and researched more in the last week, it is dawning on me that especially since he's attending a California university, I may have to just concentrate on work and put off school some more. Hopefully this will offset expenses enough that the loans will not be too much of a burden afterwards. Also, if anyone has any advice on govt. work and having your loans forgiven, that would be helpful. Thanks, all.</p>
<p>"However, as I have studied and researched more in the last week, it is dawning on me that especially since he's attending a California university, I may have to just concentrate on work and put off school some more"</p>
<p>Why are you putting his goals above yours? You should pursue your career first and foremost.</p>
<p>At the end of they day, you are the only ones that can answer the questions that you are asking. if it is really what he (and you) want, go for it - you might not get the opportunity again.</p>