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How much more concerned should a 50-year-old be about the amount of debt accumulated? Is it worth attending a top-tier school with $300K of debt for an expectation of higher pay? Can a 54-year-old grad expect to net a $190K salary?
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@57565 if you don’t mind my being direct, your opportunity cost of taking on that kind of debt load is significantly higher than say someone in their 20’s or even 30’s; which is why I would advise against it (of course this is just my opinion, so take it as you will). In terms of ROI, yours would be diminished simply because of time. Time (presumably spent working) is perhaps the most significant variable, given that the more years you’d work, the higher your ROI would be. I have no doubt that getting to that 190k salary is possible, however, attending a solid top 50 or even 30 and coming out debt free (still making 6 figures) in my opinion, would be preferable given your situation. Once again, this is just my opinion. Best of luck!
I’m older than you. I have a wealth of experience to go along with a possible law degree, and I’ll leverage that. However, I’m not aiming for a top school and plan to open my own practice, as I’ve been self employed all my life. I say good on you for making this move!
not sure. I would say that looking at the employment stats answers your last question. I would think it doesnt depend TOO much on age, but rather the school you attend and how well you do in your class. Honestly, I could imagine that age could somewhat play a factor, but im not sure how. I imagine being much younger or older than average could factor in negatively.