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
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
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
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
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.
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.
I spoke at my law school at an admitted students’ event about how I decided on a law school. I am sharing some of my thoughts here as well because I know that many of you are making the same decision.
We, the American Bar Association Law Student Division Council affirm that the American Bar Association can and should do more to protect potential law students and current law students as they seek to enter the legal profession. We also affirm that greater transparency, achieved through accreditation rules, will ensure that students can make informed decisions. We, thus, call for the Council of the Section of Legal Education (“Council”) to increase the reporting requirements already authorized under Standard 509.
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
Last year, the American Bar Association started a grassroots effort to save Public Service Loan Forgiveness for lawyers in public service and law students who planned to enter public service. Today, the ABA sued the Department of Education to honor PSLF benefits after they were retroactively denied to lawyers
By KAREEM AREF This year, the ABA Law Student Division is raising the bar and working toward the law student dream. At the 2016 ABA Annual meeting in August, LSD leaders created a plan to make strides in five essential policy areas for law students across the nation. Coined the DREAM Initiative,
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