Biglaw, Student Loans

Biglaw Firm Helps Associates 'Latham' Their Law School Debt

Why don't more Biglaw firms have student-debt initiatives like this?

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student-loan-debtOf course, I knew that our associates, some of them have debt, but I had no idea they were paying rates that high. I said, ‘Give me a couple weeks, and I’ll speak to some of my contacts at banks.’

— LeeAnn Black, chief operating officer of Latham & Watkins, offering insight on why the Biglaw firm launched a student-debt initiative for its associates. Firm client First Republic Bank Co. agreed to refinance associates’ student loans that exceed $50,000 for rates as low as 2.5 percent. Since starting the program last year, more than 100 Latham associates have refinanced $13 million in student debt.

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