American Bar Association (ABA) calls on lawyers to join push to tackle the student debt crisis — from abajournal.com by Reginald Turner
Excerpts:
Graduating from law school and starting a legal career should be an exciting and hopeful time. But for far too many, student debt causes apprehension and struggle.
A 2020 ABA survey found the average debt for law school graduates has increased to more than $150,000—a staggering amount that affects their personal and professional lives and adversely impacts the economy.
The survey found 95% of respondents borrowed money for their JD degrees. Of those who borrowed, more than 80% indicated student debt has disrupted the trajectory of their career or personal life, causing them to weigh salary more heavily in their job selection or put off home purchases, marriage, children or vacations.
While some law school graduates land high-paying jobs at big firms, that is not the reality for the majority. Many new lawyers work at lower-paying public sector jobs—at nonprofits serving disadvantaged individuals; in prosecutors’ and public defenders’ offices; and at local, state and federal government agencies.