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.
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.
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
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
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.