Jacquie Carroll, Ed.D., AFC® from nonprofit AccessLex Institute walks through how to develop financial resiliency – an important skill for navigating uncertain times. The Virtual Office Hours series connects you with experts to help you thrive as law student and prepare for life
How does your true spending compare with your spending plan? Will you have a paid internship? Summer associate position? Taking the bar exam? Get tips to "stay on track" and prepare for the summer ahead. This Virtual Office Hour Session is with Jennifer DiSanza.
Filing taxes as a student comes with a unique set of challenges. We’re here to help! This Virtual Office Hours session is with Ashley Norwood-Struppa, AFC®. Ashley is a Regional Manager of the Northeast at the AccessLex Center for Education and Financial Capability.
A law school student loan debt survey report demonstrates the growing crisis of lawyer debt. Here's how that impacts law students.
Managing real-life expenses and trying to save for your long-term financial goals are difficult tasks for most people, not just law students. The ABA and AcceessLex are here to help! Get for tips on creating a financial plan that will get you
Do you know that potential landlords, employers and even utilities companies routinely access credit scores as part of their application process? Learning how to manage student loans, credit cards and other debt is essential. Establishing financial skills early on and working to build a good
When it comes to investments, there is a lot to think about—especially, while managing the stressors and workload of law school. Having a good understanding of investment funds and approaches is essential to investing with confidence and planning for life beyond law school. The Law
Here’s a three-step guide to setting your course for student loan repayment, with a few cautionary tips along the way.
It’s never too early or too late to start thinking about paying off law school loans. In some cases, if you go to the right school, make the right amount of money, and follow confusing steps that may go horribly awry at any point, you
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
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
“Law school” and “debt-free” may seem like an oxymoron these days. Mainstream media and law school admissions blogs alike are filled with stories of newly-minted lawyers who are hundreds of thousands of dollars in debt and without an income adequate to pay off that debt. But I am here to tell you that it is not only possible—but entirely attainable—to graduate law school without any (or with only minimal) student loan debt.
Young lawyers are needed to fill public service roles but often law school debt funnels them into higher paying positions. The Public Service Loan Forgiveness (PSLF) program was aimed to help this issue by forgiving student debt after ten years of qualifying employment at the local, state, or federal level. In
With lower starting salaries and higher tuition rates, today’s law students face tough decisions when it comes to financing their education. In addition to school rank, employment rates, and average starting salaries, future lawyers need to be aware of loan terminology and how it affects their future ability to pay. But
Loan repayment assistance programs (LRAPs) help hundreds of law graduates make their required student loan payments. These programs typically provide assistance to law graduates choosing low-paying public-service employment in spite of student debt. WHERE
American Bar Association data show that in 2012, out-of-state tuition at public law schools averaged $36,202 per year and private law school tuition averaged $40,634. Factoring in “indirect costs” such as books, housing, board, and health insurance (which can cost between $12,500 and $25,000 per academic year), the
Married couples with student loans should also consider how marriage, family size, and tax filing status affect student loan payments. Here’s how you can begin talking about how student loan debt fits into your life and your plans. “Joint” or “Separate” Student Loans? Law students finance legal education with primarily federal student
If you borrowed student loans to finance your legal education, you’ll need to make some decisions about your student loans soon after graduating. Follow these four steps to keep your payments affordable, protect your credit rating, and avoid paying too much. Give your loan servicers your new contact information. A loan
Misunderstanding the key differences between student loans. Not all loans are created equal. Most law students have several different kinds of student loans. The cost of borrowing and options for loan repayment and forgiveness depend upon which loans you have. Today’s law students typically borrow some or all of the following kinds
This article provides tips for student loan borrowers considering mortgages. Begin by making sure that everything on your credit report is accurate because it takes time to correct any mistakes. Three months should be sufficient time to detect and correct mistakes. Save for a Down Payment Different mortgage loan programs require different
Information about your student loans is reflected on your credit report and will influence your credit score. A high credit score based on a positive credit history helps you qualify for favorable terms on mortgages and other loans. A low credit score can make it hard to get good interest
Although law school is expensive and most law students graduate with significant student loan debt, reducing the costs that are within your control, choosing federal over private loans, and understanding your repayment options will go a long way toward successfully managing your debt. Ideally, your total debt would be less than
Part Four of Four in a Series by Heather Jarvis In the final installment of her series, student debt expert Heather Jarvis discusses which student loan repayment strategies best fit your existing financial circumstances and your employment expectations. Law graduates work in a variety of positions earning a range of salaries, and
Graduating law students have a lot to think about. You’ll need to pay attention to your student loans while you are studying for the bar examination and conducting your employment search. An organized approach can keep your payments affordable, protect your credit rating, and help you avoid fees and extra