Legal News Roundup

Saw a couple pieces in the general media that peeked my interest and hopefully others…

First, this article entitled, Aspiring Lawyer Finds Debt Is Bigger Hurdle Than Bar Exam about a New York law school graduate who got a NO from that state’s character and fitness panel (meaning no law license) due to his accrual of some $400,000 in student loan debt. There are some unique aspects of his situation namely that he’s 47 and hasn’t made any payments on the debt, but, the general student debt crisis is front and center for law school grads in the last 15 years or so and likely to get worse. I haven’t heard of anyone not getting her license in Illinois but I wouldn’t be suprised if it has occurred and more importantly the typical debt burdens of law school graduates is a huge hinderance on career choices.

Second, and touching on the related issue of student loan debt was this piece regarding a new Education Department program regarding different loan repayment and foregiveness options. Here’s the Department’s release regarding the program. It appears to offer two new options: an income-based repayment plan which might lower monthly payments (but likely increase total pay-back as interest accrues) & a public service loan forgiveness option (this surely might be worth a look if your employment is of a public-service/government variety).