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Don't forget to count in interest when determining loan load. $150k in loans, 8% interest, thats $12k per year in interest alone!!! If you make $100k per year, you get 40 lopped off in fed tax, prob a few more in state tax, fica, etc, so probably take home around $50k. Now with that $50k you have to pay $12k to interest alone, putting you to $38k disposable income. As an attorney you'll need suits, nice briefcase, likely good glasses, etc, so factor those in. Once you add in living expenses, car note, insurance, etc, there is barely any left to put down on the $150k principal which remains. Even if you put down $10k to principal a year it'll take around 10 years to pay it off (because you'll be paying less interest as you pay down principal). Only THEN can you start saving for retirement, at age 36-37.
On the flip side, if you get out at 26-27 making, say, $75k/year with no debt load, you take home about the same $38k you did from the $100k job after paying the loan interest. Only now instead of putting the extra money towards the principal, you're putting it towards retirement. By the time you're 35+, nobody will care what law school you went to and your salary will have adjusted to your performance. I'd rather already have a nice retirement account than be starting from scratch.
/hijack
GL on your LSAT.
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