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The Burdens Of Educational Loans: The Impacts Of Debt On Job Choice And Standards Of Living For Students At Nine American Law Schools, David L. Chambers Jan 1992

The Burdens Of Educational Loans: The Impacts Of Debt On Job Choice And Standards Of Living For Students At Nine American Law Schools, David L. Chambers

Articles

American law students are borrowing large sums of money. For graduates at many schools, cumulative debts of $40,000 from college and law school have become the norm, and debts of $50,000, $60,000, and even more are common. The sums students are borrowing are much larger today than they were ten years ago, even after adjusting for increases in the cost of living. They have risen at a considerably faster pace than the starting salaries at small law firms and government agencies. They have even risen at a faster pace than the starting salaries in many large firms. The new pattern …


Debts, Job Choices, And Financial Burden: Educational Debts At Nine American Law Schools, David L. Chambers Jan 1991

Debts, Job Choices, And Financial Burden: Educational Debts At Nine American Law Schools, David L. Chambers

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American law students are borrowing large sums of money. For graduates at many schools, cumulative debts of $35,000 from college and law school have become the norm and debts of $40,000, $50,000 and even more are common. The sums students are borrowing are much larger today than they were ten years ago, even after adjusting for increases in the cost of living. They have risen at a vastly faster pace than the initial salaries at small law firms and government agencies. They have even risen at a faster pace than the initial salaries in many large firms. The new pattern …


Educational Debts And The Worsening Position Of Small-Firm, Government, And Legal-Services Lawyers, David L. Chambers Jan 1989

Educational Debts And The Worsening Position Of Small-Firm, Government, And Legal-Services Lawyers, David L. Chambers

Articles

Law school operating costs are up. Tuitions are up. The debts of law students are up. What is happening to the students who have borrowed large sums? Are their debts affecting their decisions about the jobs to seek? Once in practice, are they significantly affecting the standard of living they can afford to maintain? What, in particular, is the effect of debts on those who enter-or contemplate entering-small firms, government, legal services, and "public interest" work where salaries are lower than in most other settings in which lawyers work? In the preceding essay, Jack Kramer has performed another extremely valuable …