X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Among law school graduates, the average national default rate on student loans is 15 percent – significantly higher than the default rate incurred by medical and business school graduates. The consequences of this unfortunate trend are significant both for individual defaulters and for the legal profession as a whole. Therefore, prudent financial planning should be an essential feature of any young attorney’s career right from the start.

The average young attorney is saddled with $66,000 in student loans (not including any undergraduate loans), with an average monthly payment of $750 over 10 years. At the same time, young attorneys are faced with all the other “start-up” expenses associated with career life – everything from rent to dry cleaning bills.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.