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Tag Archives: law school

I Am a Lawyer With Sallie Mae Loan Debt. Help! – Scott

debt

“Dear Steve, Public interest lawyer 250k in student debt 6k in credit card debt 8k in private credit loan from sallie mae I have a Sallie Mae loan through their private credit department. I used this loan for living expenses while I took the New York bar exam this past summer. Is this the type of loan that you wrote ... Read More »

I Had to Withdraw From Law School Due to Illness. They Say I Owe Money. – Carol

It's all very odd.

“Dear Steve, Student Loan Debt: over $100,000.00 law school debt plus masters debt but no undergrad debt. Here’s one for you. I was studying for a Masters at a law school in so. cal. withdrew due to illness. They say I never withdrew and took the money for one class from student loan and the other class had private funding ... Read More »

Recent Law School Graduate With Massive Student Loan Debt. Help! – JM

Student Loan Corkboard Concept

“Dear Steve, Recent law school graduate. Legal job at $10/hr, part time. $250,000 in loans (includes 4.5 years undergrad and 3 law school without any family assistance or preparation) accruing interest. Required monthly payments at just under $4500/month, can’t afford rent, gas, food, etc. Living tentatively with family. Hopeless and deeply, deeply scared. Waiting IBR request. Completely overwhelmed and desperate. ... Read More »

Lawyers Screwed by Deceptive Hiring Rates While Hooked and Buried in Student Loan Debt

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Wouldn’t being a doctor or lawyer be nice to just rake in the dough? Well not so fast. When it comes to lawyers making a killing after law school, new data out paints a different picture. For a long time law schools had promoted how many graduates were employed after graduating. These figures gave incoming students a false impression the ... Read More »

Law School Grads Become Hopeless Economic Slaves to Their Student Loans and Poor Opportunities

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Remember all those people that wanted to go to law school to make a ton of money, and help people as well. The way it looks now the trend in lawyers being able to find jobs is slipping. Paul Campos, a Professor of Law at the University of Colorado says that only one in three is able to find gainful ... Read More »

Recent Law School Grad Struggling to Pay The Bills. – Lisa

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“Dear Steve, -Recent law school grad, haven’t passed the bar yet so not working as an attorney -Low paid job as a law clerk -Don’t make enough to cover all expenses, which include, but are not limited to, 3 credit card payments (12k total,) 3 student loan payments, (total owed $250k) -No health insurance and need medication totaling almost $300/month ... Read More »

I Could Not Afford Law School But Have Loans. What Now? – Ron

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“Dear Steve, Well here it goes…I went to an expensive undergrad school and took out a good amount of student loans. My parents told me it was fine and was actually a good thing to help my credit after I got out. The plan was that they were going to pay for most of the loans, at that time they ... Read More »

I’m Going to Law School And Will Graduate With a Lot of Debt. – Anthony

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“Dear Steve, I currently have $39,000 of under-graduate Stanford federal student loans. I will be attending law school next year and will most likely with living expenses rack up $67,000 a year for three years a total of $239,000. I have two questions, will I be able to borrow the additional $200,000 needed for law school from federal loan programs ... Read More »

I’m in Law School But Considering Bankruptcy. – Jenni

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“Dear Mitch, I am 40 years old and work as a land development consultant. I don’t have to explain what has happened to land development in recent years. I used to make 63k/year with a 15-17k bonus every year. I now make $40k/year with no bonus. My husband’s small business has struggled and drained all my savings. I have 38k ... Read More »

Want to Incur High Student Loans and Have Grim Job Prospects? Go to Law School.

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The New York Times published “Is Law School a Losing Game?” and raised some excellent points that I’ve certainly observed from people visiting this site. In the NYT article, lawyers that have graduated with high student loan debt discuss the grim job prospects and reality of becoming a lawyer in the current economy. In reality, and based on every other ... Read More »

Alex Went to Law School, Business School and is Now Buried in Student Loans

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“Dear Steve, I went to both law school and business school. I dropped out of law school after a year and a half but borrowed a lot of money for that time since law school is quite expensive, especially for a private school. This pretty much set me back. Business school wasn’t as expensive. I now have over $108,000 dollars ... Read More »

I Went to Law School and Now I’m Broke. – Jasper

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“Dear Steve, Well, I have two credit cards that I received in college and I was very responsible to make sure to pay them off each month. When I went to law school, I was not allowed to work for the first year, and my parents provided financial support until the economy began to worsen. I was not able to ... Read More »

My Goal is to Go to Law School But I Have Bad Credit. – Ella

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“Dear Steve, My goal is to go to law school within the next two years. However, I have really bad credit. I have about 5 or 6 charged-off accounts on my credit report, and right now I’m working on paying off these accounts. Now, the reason I’m asking this question is because I don’t have any money saved up for ... Read More »

I’m a Lawyer With a Law Degree From a Top Law School and I Can’t Find a Job. Michael

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Michael “Dear Steve, I’m almost 30 years old, have a law degree from one of the top law schools in the country, and was laid off in December after working only a few months. In any other economy, I’d be easily employable. Sadly, the world is not looking for junior lawyers with little experience right now. I’ll probably get a ... Read More »

Debt Settlement or Debt Negotiation, What’s the Difference? – Carrie

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“Dear Steve, Hi. My husband and I just got married in October 2009. Our financial life together has been anything but a fairytale. I graduated from law school in May but have not yet passed the bar exam and have not been able to find employment in the legal field. I just started working at a new job in the ... Read More »

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