There’s no dancing around it: debt and loans are an anchor on law students and young lawyers. To put a visual to the daunting numbers that we all know in checking our own loan servicing accounts, one place we can look is the
In response to the global COVID-19 pandemic, Congress has come together in a bipartisan way to offer financial support to millions of student loan borrowers trying to navigate these difficult times. The recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a number of
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
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
Debt and Credit Strategist Jen Lee and Creative Joy Director Samorn Selim, both lawyers, share their expertise on how law students and lawyers can navigate the waters of debt and careers in this webinar, "Key Strategies for Managing Student Loans and Other Debt."
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.
Most of us will incur some type of student loan debt by the time we graduate from law school. Depending on the professional path we choose, it may take more than a decade to be debt free. Today, student debt in the United States amounts to more
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.
Student loans are scary and sometimes downright mystifying. Do as much research as possible and ask questions, even the ones you’re afraid to ask.
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.
By your mid-thirties, you are far enough along in life to understand that staying out of debt is a key to your longterm financial health. But have you ever sat down and thought about what, specifically, you need to do to stay debt-free? Here are eight simple steps that will help you.
The House of Representatives released its Higher Education Act (HEA) reauthorization bill this past Friday, and it proposes to modify or eliminate several federal financial aid programs – changes which would directly and negatively affect law students. These proposals include: Lowering the cap on Grad PLUS Loans Eliminating
How much student debt are you going to have after law school? The typical answer for a JD is "lots." Learn about the current landscape of paying for your education in "The World of Student Loan Debt: Understanding Options for You, Clients, and Employees." It's free to members of the
It’s the political upset of the century, and this election is going to be studied by analysts and political scientists for years. But the reality is clear: Donald Trump has been elected the next President of the United States, and both houses of Congress will remain firmly in Republican control for the
The presidential party conventions are over, and what seems like the “election that never ends” will actually be over in less than 100 days. A lot is being said about this election – that it’s the most important in a generation; that it could fundamentally change the United States and its
Public Service Loan Forgiveness has been recently targeted by some politicians, and news has been swirling about proposals to modify or eliminate the program.
The ABA’s Governmental Affairs Office (GAO) was established in 1957 to monitor legislative action affecting lawyers. It has since evolved into a full-blown lobbying department with 10 federally registered lobbyists who actively advocate for the adoption of ABA policies by Congress and federal agencies. GAO uses the traditional tools
The cost of getting an education has increased substantially in the last decade. No longer is attaining an education an affordable venture. The fact of the matter is while costs have steadily increased, the amount of assistance that is offered to low-income and middle-class students has steadily decreased.
This past fall semester, I burned myself out. I took 17 credits at New York Law School, which included a clinic where I put long hours into client interaction; working two days a week as an unpaid intern at a federal agency; and working two to three days a week
Getting to a better place financially is a common New Year's resolution. So the ABA Young Lawyers Division is going to get your 2016 off to a good start on that front with a webinar later this month. "Best Practices for Paying Down Your Law School Debt" takes place
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
Interested in a public service career? Afraid you won’t be able to afford your student loan payments? Law graduates can afford to pursue lower-paying public interest positions in spite of student loan debt thanks to federal Public Service Loan Forgiveness and a variety of loan repayment assistance programs. If you