Posts Tagged ‘Student debt’

Student Loan Debt

May 9, 2011

An ABA article reports that law student debt for student loans has gone up 50% over the last decade.  It’s attributed to rises in tuition.  In round numbers, the average debt is $69,000 for public schools and $106,000 for private schools.  Remember, those are just averages: some are graduating with less, some are graduating with potentially much, much more.  I’m assuming the ABA’s numbers do not include undergraduate debt.  The rule of thumb I’ve often seen and heard repeated is that a graduate should not take on more debt than they expect their new job to pay annually.  I don’t know that the math is going to work out for everyone.

Crushing Student Debt

December 23, 2010

Many, many people would say that the rising cost of medical care is a problem for the United States.  Student debt is rising at a rate three times as fast.  Right now, there’s over $800,000,000,000 in student debt in the United States.  Personally, I think that’s a problem, especially if it’s being invested in an educational field that may not pay off.  Article from MSNBC/CNBS on rising student debt.  Analysis from Above the Law on said article.  Both good reads.

Personally, I don’t want to automatically blame the system.  I think there’s a lot of silly educational decisions being made.  They’re not being looked as investments.  Which, given all the long range implications of borrowing a lot of money to invest in an education in the hope of paying back all the money borrowed, might be a bit much to ask of high school seniors.  Would a high school senior be expected to competently sign a mortgage agreement with a bank?