it doesn't do anything no.. like i said if you "must" go to law school.. and your original score is extremely low..then retake.. if the issue keeps resurfacing then I firmly believe this field isn't for you... often times there are mitigating circumstances that cause poor lsat scores.. death in the family.. health.. insert issue here____... but if a person takes the exam 2-3 times and can't break a 150 then they really really need to look into an alternative career..
any ole school won't do in my book..
as far as loans are concerned.. i'm always above board with my clients (intent can co-sign on this as he was one of them) i will go to bat and put you in the best program possible..
I think that ARMS are effective in some circumstances.. ie a law student that wants to purchase an inexpensive home that relies on his/her summer associate position and/or student loans to pay the mortgage (which is comparable to the price of rent in their respective cities) as soon as the client graduates from law school they can refinance and get into a fixed rate mortgage.. to me it makes perfect sense..
I started out in an ARM for one of my properties as well because I didn't have any credit cards/loans on my report so I needed to establish some things before I could qualify as prime.. as soon as that day came I moved into a fixed rate mortgage @ 5.7% with roughly 30k of equity in my house..
on the flip side I'd never put a person that couldn't afford a home in a home.. nor do I regularly put my clients in ARMS..
if someone graduated from undergrad with a 2.3 GPA in general studies and has a 148 LSAT and I know them well enough to give advice.. I'd suggest some alternative careers...
people that score extremely low LSAT scores with horrible grades really should retake the LSAT imho (if they must go to law school).. it's one thing to want to be a lawyer.. it's a completely different ballgame when you know damn well you have some serious problems completing your work and understanding the concepts..
it's like a person buying a house when they know that they can't afford it.. if your credit profile is good enough to get you financing why should the bank turn you down? at the end of the day it's all a $$$$ game..
i'm not saying it's right.. but it can be justified...
Retaking the LSAT doesn't do anything to provide people with the skills they need to get through law school, though, does it? I don't see how this helps.
FWIW, I think subprime, oversized ARMs are unconscionable for the most part, too. People with specialized knowledge should not take advantage of people who don't have that specialized knowledge. I totally believe in mandatory disclosures of risk and contributions to independent, non-profit financial counseling services.