I'm 17 and will be a first-generation college student. Is law school worth being $200,000 in debt?

By Aditi Shrikant

'I'm considering a pre-law track ... I'm just a bit hesitant because of how expensive law school is'

"Is it still viable to go professional schools even when the average professional-school graduate finishes with a total debt of $200,000?"

Dear Dollar Signs,

I am 17 years old and finishing high school. As a soon-to-be first-generation college student, is it still viable to go to professional schools even when the average professional-school graduate finishes with a total debt of $200,000?

By "professional school," I mean programs like medical or law school, that lead to a license or specific credential. I am not referring to undergraduate programs, since they are usually much cheaper and offer far more scholarship opportunities.

Right now, I'm considering a pre-law track, maybe majoring in public health or political science. I'm just a bit hesitant because of how expensive law school is.

Career-Confused Teenager

If you're just starting out on your money or career journey and have questions about how to navigate your finances, we want to hear from you. Write to Dollar Signs, MarketWatch's new advice column, at dollarsigns@marketwatch.com.

Dear Confused,

I'm impressed by your drive and forethought, but I do want to caution you against being too myopic. Keep in mind that you're only 17. Law school might be the right path, but I'd urge you to keep an open mind as you embark on undergraduate school.

Avoid "law-school blinders," says Anna Ivey, an admissions counselor and the former dean of admissions at the University of Chicago Law School.

"[Don't be] so predetermined to do law school you don't even consider talking to people about or exploring other things that might be wonderful matches for you," she says. "College should be transformative, and sometimes that means you change your goals while you are there."

But if you are determined to be a lawyer, I get it. As someone who was heavily involved in my high school newspaper, majored in journalism and now works in media, I can relate to picking a path and sticking to it.

And there are ways you can go to law school and not end up $200,000 in debt. Most law schools offer merit scholarships, which are based on your GPA and LSAT score.

"You can drive down the price tag the higher the GPA and the higher the LSAT score," Ivey says.

This includes first-generation college students, she adds.

"First-gen college students are absolutely welcome at law school, including the tippy-top ones," she says. "That is not a thing students should try to hide or massage. That is an important part of who you are and it's impressive."

Many universities, including Columbia University and U.C. Berkeley School of Law, provide scholarships for first-generation college students. The American Bar Association also offers financial aid to first-time law students.

You can also apply for federal aid. How much one can borrow for professional schooling, including subjects like law and medicine, recently changed due to the One Big Beautiful Bill Act, and students can now borrow $50,000 per year with a $200,000 lifetime cap.

But, of course, don't borrow more than you think you'll be able to pay back.

"Don't depend on loan forgiveness from the government because what Congress giveth it can also taketh away," Ivey says. "Loan forgiveness is a cherry on top, but I wouldn't count on it on the front end."

Research the law firms

Return on investment of law school widely varies, but the median annual earnings, subtracting debt, are $72,000 four years after graduation for all law-school graduates, according to the Georgetown University Center for Education and the Workforce.

There are also online calculators that help people see how long it would take them to pay off their law-school loans.

You don't have to go to a "brand name" law school, says Andy Lockwood, the founder of Lockwood College Prep and a self-described "recovering attorney."

If your GPA and LSAT scores are high, you'll have a better chance at attending a more selective program for less money, but you can also enroll in schools that are good but less expensive.

"Which schools are going to roll out the red carpet for you and bribe you to come?" he says. "In New York, Brooklyn Law School or St. John's Law School, those are good law schools but they are not Columbia or Fordham. It's the next tier down."

State or public law school are often much less expensive that private ones.

One way to figure out if it's worth taking on more debt is to research the firms that do the work you want to pursue.

"Look at the types of firms that you are hoping would be a good fit when you get out of law school and you'll see where those people went to law school," he says.

If a firm heavily recruits from a brand-name law school, that is something to keep in mind as you move through undergrad. If it hires from law schools that are easier to get into and more affordable, it might not be necessary to take on a ton of debt to get where you want to be.

Look up salaries and reach out to current and former employees. Talking to people who are where you think you want to be is one of the best ways to figure out your next move.

Be adaptable

It sounds like you have a relatively clear vision of what you want to pursue, but it's important to remain adaptable and keep in mind that you don't know how some factors, like artificial intelligence, are going to play into certain industries.

"God only knows what it's going to look like with the legal profession and AI," Lockwood says. "Maybe legal fields are going to become less attractive and more fields that will open up that we haven't even thought about. That is something to think hard about."

Ivey agrees that artificial intelligence could change what is needed from lawyers, which is why you should have a "mindset of adaptability."

"Critical thinking, ability to have discussions, writing without the assistance of AI - those are good skills to acquire during undergrad," she says.

Let the goal of becoming a lawyer guide you into more opportunities to learn and grow.

Write to Dollar Signs at dollarsigns@marketwatch.com.

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-Aditi Shrikant

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11-12-26 1517ET