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
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.
If you want to make a difference to preserve Public Service Loan Forgiveness, this is that time, today’s the day. Tell your elected officials to oppose the PROSPER Act – now.
“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.
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
Samuel M. Chang, the outgoing 14th Circuit Governor for the ABA Law Student Division, spoke at an event titled "Declining Passage Rates on the California Bar Exam: Possible Explanations and Impacts," an informational hearing of the California State Assembly Judiciary Committee on Feb. 14. Chang spoke during a panel titled "Possible Impacts of
Are you worried about another difficult test even after you graduate—how you’ll handle the burden of repaying the cost of your education? You’re not alone, and the American Bar Association is working on the issue. In December 2016, the ABA and four attorneys with that very worry sued the U.S.
If you want to be a successful lawyer, law school is a given. With the hike in student loans, however, it may be a while before you actually make any money.
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
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
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
On Jan. 25, the ABA Young Lawyers Division presented “Best Practices for Paying Down Your Law School Debt,” a webinar co-sponsored by DRB Student Loan. If you missed it, now you can catch the recap and PowerPoint slides on YouTube. https://www.youtube.com/watch?v=elL8mIeEQEo&feature=youtu.be The details The average attorney graduates with $100,000 in student loan
By Barry Malone BARRY MALONE (email@example.com) is a writer and lawyer in the Detroit area. With the 2016 presidential campaign in full swing, a growing number of candidates are proposing ways to ease student loan debt. Plus, five smart student-loan tips. “OVERWHELMING” IS HOW Irene Mo, a 2L
The financial moves you make starting right now in school could affect your lifetime. Here’s how to make the smartest choices now and after you graduate. You may have a limited income as a student, but you still need financial planning skills. In fact, smart money management during law school and
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
When it comes to money, today’s law students have a lot to think about. You’ll soon face a wide variety of financial concerns—including saving, investments, insurance, taxes, retirement, and estate planning. A qualified financial planning professional can assess every aspect of your financial life and help you develop a detailed
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 stated “cost
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