My husband just finished his first year of law school at one of the top 14. We will be saddled with a lot of debt when he graduates, but on the other hand he will be well positioned to get a high paying job. Yes, the market for lawyers is becoming increasingly competitive, but from what I have seen so far, those who are passionate, charismatic, and bright can succeed (but with an important caveat: you can no longer afford to be picky about where you go).
Your situation, though, is different. You just need to do “decently well” in law school and you get a free degree and a guaranteed job? Sounds good, but make sure it’s something you really want first. If you’re just in it for the convenience, RUN AWAY NOW. Law school is hard work, but you CAN succeed if and only if you care enough. You should not make this kind of commitment based on money alone. If you don’t care about law, don’t do it.
If, however, you are passionate about law, you’ll be fine. Study hard for the LSATs. If you can get a 165, you’ll have your pick of schools. Even if not, you’ll find some law school to accept you. Once you get there, show up to every class barring a Yuntif conflict (unfortunately, “spring break” doesn’t always overlap with Pesach) or a serious emergency. If you miss class for any reason, you will fall behind. Do the assigned reading well in advance of class and volunteer to comment in class often. Don’t be afraid of giving the wrong answer.
You must realize that law school will take up a lot of your time and energy. If you are willing to commit to that, you will be fine. I assume when you say “decently well” that you mean at or just below the median. Please correct me if you mean something else.
Keep us posted on what you decide!