Law Loans

In 2010, 44,245 ABA law school graduates took on $3.6 billion in student loans, a sum that increased from $3.1 billion in 2008, American Law Daily reported yesterday. Law students are allowed to fully finance their legal educations (and living expenses) with a combination of $20,500 in Federal Direct Stafford Loans and Graduate in addition to loans that cover the remaining cost. Projections show that total annual graduate law school debt will double by the end of the decade ($7 billion/year). Public law schools will supplement subsidy shortfalls with tuition increases and alumni donations. Factoring in attrition adds about 4  percent to the debt totals, increasing the ten-year sum to $54.3 billion. http://amlawdaily.typepad.com/amlawdaily/2011/12/law-school-debt-bubble-part-ii-education-department-to-lend-543-billion-to-americas-law-schools-by-2.html