Courtesy of Reasonable Peep:
"If I apply to law school in January am I screwed?"
As in any good legal world issue, the question is for what exactly are you screwed? If you were banking on some hefty scholarship money from the school or elsewhere to pay for your education, then yeah, you are screwed. Most scholarship money is disbursed early on, so the later your application, the lower your chances--sorry.
In terms of getting into law school, no you are not necessarily screwed depending on where you want to go and how good your application is. If you have a strong application, you will probably get in. However, you may find out about getting in late, which could screw up your world in more ways then one.
I remembering tabling at the first year orientation during my second year, and I ran into a guy I graduated with from undergrad. He was a first year. He told me he had applied in July, was notified of his acceptance THE DAY BEFORE ORIENTATION, told his boss the day of orientation he needed to quit his job effective immediately, and showed up halfway through the orientation. He did just fine during his first year, but he had a very stressful start to the process and missed the opportunity for money and any other helpful legal course programs that were offered by the school prior to orientation.
Overall--if you want to go to law school next year, apply sooner rather than later if you want to get the most bang for your indebted dollar!