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Annette Said:How much debt do lawyers have?
We Answered:The average debt upon graduation for law students is about $100,000. If you only finance your education through loans for law school you'll likely have over $200,000 accumulated (plus the debt from your undergrad) by the time you finish school. Considering that the average law grad only makes about $50,000 upon graduation, you're wise to think about the debt that you may have to take on before making a decision about law school.
Ray Said:Would you be willing to forgive a doctor's, a dentists, and a lawyers student loans?
We Answered:Good idea. My local medical school has such a program. The graduating doctors have to spend some period of time in the rural areas of my state that lack doctors and their student loans are forgiven or reduced based upon the circumstances.
Jessie Said:Will financial advisers help a new grad with no assets to plan a way out of student loan debt? Who is best?
We Answered:Most financial advisors specialize in growing your assets and planning how much you need to invest to reach certain goals. It sounds like you need advice on debt management and budgeting.
Check out some articles on CNN Money's website, personal finance. There are articles under "Money 101" that give you good advice on money management. Because you have debt instead of assets, a financial advisor would charge you roughly $2,500 per year to give you advice that you can figure out yourself.
Also, feel free to ask questions on this site. There are plenty of advisors like myself that will answer quick questions for you for free.
Janice Said:why don't lawyers pay their student loans back?
We Answered:The short answer?
Because law school can cost $100k for tuition and books alone, and unless you go to a top-tier school and have grades in the top 25%(ish) of your class, you are looking at making less than most full-time plumbers. At 22 years old there are quite a few law students that buy into the idea that all attorneys will be rich, because that is the public perception to a large extent. But when they graduate and find that being a DA or PD pays less than some teachers, and that the corporate gigs are fewer and farther between now than ever before.... well, keeping a roof over one's head becomes much more important than student loans. Not excusing it, just explaining part of the circumstances surrounding it.
Do read my 2 sources from the Wall Street Journal.
Full disclosure: I "lucked out" and didn't have to enter public service, but have a great many friends that did.
Gabriel Said:How much debt to lawyers have?
We Answered:My undergraduate work was about $30K in student loans. I'm thinking 4 years of law school would be an additional $100K.
Just an idea... will a law firm let you work as a paralegal, process server, file clerk, etc in return for helping you pay for law school?
Dana Said:how can i fix a student loan in default?
We Answered:You need to pay it. No court will dismiss your student loan.
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more here said:
Student loans are a complex scheme as people tend to get stuck into it. I think they should be prone to seeing it more here as students are always looking for help in their loans.