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Editor's note: This post has been updated to clarify a passage in the original version (5/16/19, 10:44 a.m. CDT). As the spring semester comes to a close, many 3Ls are investigating their bar study loan options. Borrowing one last loan to pay
My dad loves to remind me how he paid for his education. He scrubbed toilets during college and worked as a punch card programmer to pay for law school. He is making a point about hard work, but all I can hear is how great things used
Getting that first student loan bill can be terrifying. For many borrowers, it is the precise moment the monopoly money of student loans becomes real debt. For young lawyers, it can lead to an epic panic. I owe how much? This can’t be right, who
There is a great debate in the legal and financial aid community. Is it a good idea to borrow money for law school? How much is too much? When is law school a mistake? To be clear, this analysis is critical and should be considered by any perspective law
Want to get your student loans paid off faster? Would you like to retire a bit earlier? What if I told you there was an easy step you could take right now that would help you accomplish those goals? These questions may sound like the beginning
As a law student there are many things you can be doing to “vaccinate” yourself from future misery. A few small steps will leave you much better off in the future.
Last month this column admonished law students not to rely on the public service student loan forgiveness (PSLF) program. The many variables of life make it a dangerous six figure bet. Shortly after publication of this advice, news broke that 99 percent of borrowers who applied for PSLF were rejected. At the risk of sending mixed messages, however, I would tell law students and young lawyers not to give up on PSLF either.
Don’t bank on student loan forgiveness. Don’t borrow money that you don’t absolutely need. Have a Plan B and keep an open mind to the future.
Before the Bar is the blog of the ABA Law Student Division. It brings together a diversity of opinions, experiences, and voices from those associated with the law anywhere in the world and is targeted to law students, current, past and future.
Unless stated, the opinions shared by our writers do not reflect the official position of the American Bar Association.
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