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Tag: Student Loans



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.

Picking a Law School

Picking your path: How to choose a law school

April 25, 2018

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.

Division-Update

Revising accreditation standards for greater transparency for incoming law students

March 02, 2018

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 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.

Podcast: Why Washington should save Public Service Loan Forgiveness

ABA sues over Public Service Loan Forgiveness denials

December 20, 2016

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

DREAM Initiative

LSD dares to DREAM with Initiative

December 01, 2016

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,

Donald Trump and Mike Pence

What the election results mean for student loan borrowers

November 15, 2016

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

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

Podcast: Why Washington should save Public Service Loan Forgiveness

With your help, the ABA is working to save Public Service Loan Forgiveness

April 29, 2016

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

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.

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 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

Debt-reduction panel, 5 wise moves

December 01, 2015

By Josephine Bahn JOSEPHINE BAHN is a 3L student at New York Law School; the vice chair of Student Bar Associations of the ABA Law Student Division; and the law student member of the Council of the ABA Section of Legal Education and Admissions to the Bar. Start now to build a strong

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

Financial Literacy

September 01, 2015

By Besty Munnell “Don’t wait to learn business fundamentals and industry context on the job.  Pursue practical skills every chance you get in law school.” In early March, I met with one of the second-year students I mentor at a Boston-area law school. She was deciding on her third-year courses and, as

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

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

Three Keys to Managing Student Loans

October 01, 2013

Although law school is expensive and most law students graduate with significant student loan debt, reducing the costs that are within your control, choosing federal over private loans, and understanding your repayment options will go a long way toward successfully managing your debt. Ideally, your total debt would be less than