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Tag: Debt



Decisions

Don’t overlook retirement when paying down student debt

March 12, 2019

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

Loan Types

Are Graduate PLUS Loans the best way to borrow for law school?

February 13, 2019

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

Sarah

Eight simple steps to avoid debt

August 23, 2018

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.

Debt-free

Graduating from law school debt-free

June 07, 2018

“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.

MakeTheCase

Take action now – #MakeTheCase for legal education!

December 06, 2017

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 Chang

How the decline of bar exam passage rates impacts law students

March 07, 2017

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

Student Loans

ABA sues feds to protect loan promises

March 01, 2017

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.

Law Student Podcast

Fighting the Tide of Student Debt

February 07, 2017

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.

Law School Loan

Free student loan debt webinar on Jan. 17

January 13, 2017

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

Student Debt

7 reasons why this election matters for student loan borrowers

September 01, 2016

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

Student Loan Debt

A push to bring back subsidized student loans

April 05, 2016

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.

305-2 blog post illustration

Opinion: End of the the pay-credit ban a welcome change

March 15, 2016

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

Student Debt Webinar

Webinar recap: 'Paying Down Your Law School Debt'

February 02, 2016

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

Student loan debt

December 01, 2015

By Barry Malone BARRY MALONE (barrymalone@yahoo.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

Your financial future begins now

December 01, 2015

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

Show Me the Money: Selecting a Loan Repayment Assistance Program

April 01, 2015

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

Public Service Loan Forgiveness 101

February 01, 2015

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

PSLF

Proceed with Caution: Evaluating Financial Planning Services

December 01, 2014

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

Heads Up 1Ls: How to Finance Your Legal Education the Smart Way

October 20, 2014

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

For Love or Money - How Marital Status Affects Student Loans

April 01, 2014

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

Four Things Every Student Loan Borrower Must Do

April 01, 2014

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