Student Loans

  • Thanks, law school!

    Morning Docket

    Morning Docket: 03.20.15

    * Per a recent study, the class of 2010 is still screwed when it comes to securing work as attorneys. There are plenty of would-be lawyers working in “tennis instruction, office management, lingerie sales, and pest control.” [WSJ Law Blog]

    * Law schools may be admitting less qualified students, but when the bar exam results are bad, it’s obviously the bar exam’s fault. Is it even fair to make new lawyers have to pass a bar exam at all? We should have more on this bar exam backlash later today. [DealBook / New York Times]

    * Following layoffs in two other firms’ litigation practices, McDermott Will & Emery is losing three of its top litigation partners. Two are expected to decamp to Paul Hastings, and one is abandoning ship for King & Spalding. Yikes! [Big Law Business / Bloomberg]

    * Law school applications are on the verge of hitting a 15-year low. Don’t worry, cautions LSAC, because “the rate of decline [in applications] is slowing.” Check out the sad (yet amazing) picture in the article and see if it makes you feel better. [Bloomberg Business]

    * Undergrads at Villanova got a crash course in how to pay for law school this week, and were hopefully scared straight when they found out the majority of law students take out loans and “typically accumulate around $100,000-$200,000 in debt.” [The Villanovan]

    29 Comments / / Mar 20, 2015 at 9:03 AM
  • gavel money

    Law Schools, Student Loans

    The Top 10 Law Schools With The Most Heavily Indebted Graduates

    Which law school graduates have the most debt of all? U.S. News has a ranking for that!

    52 Comments / / Mar 17, 2015 at 12:30 PM
  • Game of Loans

    Morning Docket

    Morning Docket: 03.12.15

    * President Obama recently authorized a study into whether student loan debt should be dischargeable in bankruptcy. For now, any changes made to the bankruptcy code will likely apply only to private loans, so it looks like many law school graduates won’t be declaring bankruptcy any time soon. [Wall Street Journal (sub. req.)]

    * As we’ve mentioned numerous times in the past, the across-the-board drop in law school applications has inspired some law schools to do crazy things like shortening the length of time it takes to get a degree and lowering tuition. Hmm, more law schools should go crazy. [U.S. News & World Report]

    * In the wake of much criticism of its plan to eliminate the LSAT for some students to gain admission to Iowa Law, the school’s dean offers an explanation: it’ll help her school compete to attract students who would otherwise have gone to T14 schools. [The Gazette]

    * Even though law schools are in trouble, a legislator in Texas is still lobbying the state to subsidize the creation of a new law school in the Rio Grande Valley because he has a “hard time believing there are no jobs for attorneys out there.” [Cleburne Times-Review]

    * If you find that law schools aren’t reacting quickly enough to the crisis at hand, there are other options for you out there. While law schools implode as their tuition skyrockets, it seems that those who have fled the law are now trying to become engineers. [Quartz]

    29 Comments / / Mar 12, 2015 at 8:56 AM
  • Good Bad Credit Shows Financial Record

    Job Searches, Law Schools, Rankings, Student Loans

    The Most And Least ‘Creditworthy’ Law Schools

    What if law schools were assigned “credit ratings” like the ones that are given to corporations?

    9 Comments / / Mar 3, 2015 at 6:02 PM
  • Cindy Crawford (Photo by Frazer Harrison)


    Non-Sequiturs: 03.02.15

    * You betta work… on those C&D letters! The viral picture of Cindy Crawford’s “unretouched” midsection is allegedly fake, and a lawyer for the photographer who took the original picture is threatening publishers with legal action if the supposedly doctored photos aren’t taken down immediately. [CBS News]

    * You know that law school graduates from the Lost Generation are screwed when the first vignette from an article about the sad state of financial affairs for “recession millennials” is about a 2011 law grad who’s drowning in law school debt. [FiveThirtyEight]

    * Folks are going crazy over King v. Burwell, so it’s a great time to run the odds on which justices will give ACA the axe. FYI, Justice Alito is “more likely to be struck by lightning while committing in-person voter fraud” than uphold Obamacare. [ThinkProgress]

    * If you’re going to be in Washington, D.C., next weekend, why not stop by the Politics & Prose Bookstore to see David Lat have a chat with Adam Liptak of the New York Times? OMG, you can even get your copy of Supreme Ambitions (affiliate link) signed. [Facebook]

    * With oral arguments in the King v. Burwell case slated to be heard on Wednesday, the Supreme Court is going to have a busy week — but most Americans won’t know about it. Below is a new TV ad pushing SCOTUS to allow cameras in the courtroom. [Fix the Court]

    20 Comments / / Mar 2, 2015 at 5:02 PM
  • debt shackles

    Law Schools, Student Loans

    Which Law School Has The Highest Tuition In The Country?

    With sky-high tuition prices like this, it’s no wonder law school has become a game of loans.

    35 Comments / / Mar 2, 2015 at 1:02 PM
  • A happy Hamline Law grad?

    Morning Docket

    Morning Docket: 03.02.15

    * Unfortunately, it seems that if you want to get an elite legal education in this country, you’re going to have to pay an arm and a leg for it. This year’s NLJ Top 10 Go-To Law Schools each have a sticker price that’s greater than $50K. [National Law Journal]

    * Hamline University’s president thinks it was smarter for her law school to merge with William Mitchell Law than for it to close altogether — hey, it’ll still bear the Hamline name and its dying carcass won’t be on her books anymore! [Star Tribune]

    * Later this week, SCOTUS will hear oral arguments in King v. Burwell, a case that could decimate the Affordable Care Act as we know it. At this point, the justices must be contemplating how many people will lose if the plaintiffs here win. [Wall Street Journal]

    * An ADA from the Brooklyn DA’s office who prosecuted drug cases was canned after his colleagues learned that he failed to report his personal connection to an admitted cocaine dealer. Perhaps they were jealous he refused to share his hookup. [New York Daily News]

    * In case you missed it, Above the Law, your favorite legal website, has been “rankle[d]” by a new series on CNNMoney called “Above the Law.” We know you’re as ticked off about this as we are, so we hope you’ll help us write our cease-and-desist letter. [Am Law Daily]

    37 Comments / / Mar 2, 2015 at 9:03 AM
  • Jodi Arias

    Non-Sequiturs, Social Media

    Non-Sequiturs: 02.23.15

    * Two jurors excused in the Jodi Arias sentencing retrial. Those were the lucky ones who were able to never have to hear about this case again. [KFYI]

    * After handing down their latest law school rankings, NLJ also talked with hiring partners about getting hired. [National Law Journal]

    * Louisiana. Never stop being you. Longest sitting judge in the state temporarily removed from post pending investigation. [Times-Picayune]

    * Alas, even Paul Clement couldn’t help poor Bobby Chen resuscitate his once abandoned Supreme Court case. And Bobby Chen’s argument wasn’t even as much as a lost cause as pretending the Affordable Care Act was unconstitutional. [Wall Street Journal]

    * Hm. A lot of law blog content ends up suspiciously under someone else’s banner. [Associate’s Mind]

    * Justice Don Willett is a Twitter superstar. Or should I say, @JusticeWillett. [KXAN]

    * Hey guys, the New York Fed thinks this “student debt” thing is kind of a big deal. [TaxProf Blog]

    * If you can make it to New Haven on Thursday, you can see David Lat and other panelists speak on “The Perils of Vine, Instagram, Snapchat & Twitter: Legal Considerations of Social Media.” [CT Bar]

    5 Comments / / Feb 23, 2015 at 5:36 PM
  • Thanks, law school.

    Law Schools, Quote of the Day, Student Loans

    Is Law School No Longer Worth The Cost Of Attendance?

    Getting a law degree these days is kind of like taking all of your money and burning it.

    37 Comments / / Feb 20, 2015 at 12:04 PM
  • lawrence mitchell


    Non-Sequiturs: 02.06.15

    * Records show that Case Western Law bought former dean Lawrence Mitchell’s house for $575,000. Was it still furnished with the Chinese silk sheets? [The Observer]

    * Judge Posner explains that ALJs are basically working a conveyor belt. To wit, here’s a visual representation of Social Security ALJs at work. [Valpo Law Blog]

    * Um, what’s the charge for “acting like you’re in Fast and Furious”? [Legal Juice]

    * Republicans making moves to stop net neutrality. Netflix needs to start showing more Bible documentaries to sap this movement’s political will. [Bloomberg Politics]

    * Professor Campos reviews a new paper on the future of higher education funding. [Lawyers, Guns & Money]

    * The law dean at the University of New Brunswick is accused of “sexism, harassment, and, in one case, threats of violence by two of his former law school colleagues.” That’s some very un-Canadian behavior. But Levitt used to be the dean at Florida A&M, and that does sound like some very Floridian behavior. [CBC]

    * How to make your shoes last longer. [Corporette]

    * Michael Cannon and Professor Jonathan Adler use some pretty compelling evidence in their amicus brief decrying King v. Burwell. Unfortunately, they kind of made up a quote. When the woman they quoted tries to clear the record, Cannon tells her he understands what she clearly said better than she did. In a sense this is a microcosm for the whole case. [Constitutional Accountability Center]

    26 Comments / / Feb 6, 2015 at 5:30 PM
  • Preet Bharara

    Morning Docket

    Morning Docket: 01.23.15

    * Preet Bharara, the U.S. Attorney for the Southern District of New York, was recently referred to as the “most dangerous man in American politics.” Why’s that, you ask? It’s because he’s “a federal prosecutor who doesn’t give a f*ck.” Damn straight. [BuzzFeed]

    * Just when you thought the Alan Dershowitz sex scandal couldn’t get any more intense, the investigative sleuths over at Gawker found flight records that allegedly place the professor as a passenger on a billionaire bad boy’s pedo plane. [Gawker]

    * Dewey know which former chairman of a failed firm had to beg to get a refund on his bail money because he couldn’t otherwise afford to pay the expert witnesses for his upcoming criminal trial? Aww. Poor, poor Steven Davis. [New York Law Journal]

    * Fried Frank’s chairman says that completely pulling the firm out of Asia was a “difficult but necessary decision.” On the other hand, an ex-partner at the firm says this move had basically been “inevitable” since at least 2009. Hmm. [Am Law Daily]

    * If you want advice on how to pick a “cost-efficient” law school, the first thing you should realize is that your scholarships may come back to bite you in the ass. Go on, read the fine print — after all, you want to be a lawyer. [U.S. News & World Report]

    35 Comments / / Jan 23, 2015 at 9:13 AM
  • StudentLoanDebtMoneyPile

    Public Interest

    Public Service Loan Forgiveness Might Be Capped — You Can Help Stop It

    PSLF provides a really substantial benefit to these people in particular. But soon that may no longer be the case.

    47 Comments / / Jan 20, 2015 at 12:02 PM
  • Game of Loans

    Morning Docket

    Morning Docket: 01.16.15

    * Fewer people are applying to law school. According to LSAC, the number of would-be lawyers who submitted applications is down by 8.5 percent compared to last year. Serious question: How low can we go before all schools are officially in crisis mode? [WSJ Law Blog]

    * You’ll never believe how this guy paid off his law school debt. His parents got a home refi loan, and with the money ($210,000), their son got rid of his student loans. Now he’ll pay his parents’ loan for 30 years. Wow. [Business Insider]

    * Justice Samuel Alito took a break from the SCOTUS docket to receive an award named for the late Judge Edward Becker of the Third Circuit, a man who he said “tried to get federal judges to act in a more sensible way. That’s a real task.” [Legal Times]

    * “[T]hings are getting back to where they were before the recession,” so naturally, state judges — like those in California — are suing over the salary increases they were denied while the recession was in progress. Bless their hearts. [National Law Journal]

    * Hey lawyers, want to seem like you’re smart? Stop sprinkling your briefs with SAT vocabulary words. Just put on a pair of glasses and start using your middle initial more often. For the record, speaking in a pleasant voice is also helpful. [ABA Journal]

    11 Comments / / Jan 16, 2015 at 9:03 AM
  • David Schwimmer

    Morning Docket

    Morning Docket: 12.22.14

    * Florida Judge Cynthia Imperato was “devastated” after a jury found her guilty of DUI and reckless driving charges, but we imagine the judge may be more devastated by the fact that she’s a sitting judge who’s been sentenced to 20 days of house arrest. [Florida Sun Sentinel]

    * David Schwimmer, best known for his role as Ross on Friends, has been cast as lawyer Robert Kardashian in an O.J. Simpson true crime television miniseries. He surely knows it’ll take a lot of “unagi” to play the role just right. [Rolling Stone]

    * If you have to debt finance your J.D., you’re going to in for a rude awakening when you graduate and the loans start coming due. FYI, “lot[s] of graduates [are] buried in private student loan debt with not enough income to repay it.” [Forbes]

    * The parents of James Holmes, who’s better known as the alleged shooter in the Aurora movie theater massacre, have begged for him to be spared the death penalty ahead of his trial, but prosecutors say that in this case, “justice is death.” [Denver Post]

    * When it comes to Russia, “[a] lot of firms are thinking about pulling out.” That’s what she would’ve said if she were a managing partner. Biglaw firms that have been rocked by the ruble’s ruin are telling lawyers to leave before they’re laid off. [Am Law Daily]

    * Binder & Binder, the National Social Security Disability Advocates® whose late-night TV commercials you’ve grown to love, has filed for bankruptcy. The firm’s headcount will likely drop by more than half because of this. Yikes! [WSJ Law Blog]

    27 Comments / / Dec 22, 2014 at 9:11 AM
  • student loan debt law school loans

    Student Loans

    This Law School Wants To Stop Students From Drowning In Debt

    Will more law schools adopt initiatives like this one?

    11 Comments / / Dec 11, 2014 at 2:29 PM
  • debt shackles

    Law Schools, Student Loans

    Lawyers Struggle To Live ‘Mortgaged’ Lives Under The Crushing Weight Of Student Loans

    Will the government be forced to grant loan forgiveness to all lawyers with unbearable debt burdens?

    48 Comments / / Dec 8, 2014 at 3:15 PM
  • student-loan-debt-e1414612604341

    Holidays and Seasons, Money, Rudeness, Student Loans

    Season’s Greetings From Your Loan Servicer

    No one wants to hear from their loan servicer during the holidays. No one.

    7 Comments / / Nov 26, 2014 at 12:31 PM
  • Oyez! Oyez! Oyez!

    Bar Exams, Biglaw, Lateral Moves, Law Schools, Morning Docket, Partner Issues, Prostitution, Public Interest, Screw-Ups, Small Law Firms, Student Loans

    Morning Docket: 11.19.14

    * Morgan Lewis may be pretty pleased with itself now that it gets to gobble up most of Bingham McCutchen’s partners, but some day soon, it may be forced to “choke a bit” on remains of the dying firm’s carcass. [Philadelphia Business Journal]

    * Yesterday, we wondered what would happen to Bingham McCutchen’s brand new back-office operation in Kentucky. Now, the pieces are starting to come together. We may have more on this interesting development later. [Am Law Daily]

    * A Connecticut criminal defense firm’s managing partner who teaches at UConn Law was picked up in a prostitution sting last week. At least he’s got the skills to represent himself. [Connecticut Law Tribune]

    * The NCBE thinks bar exam takers were “less able” than in prior years, but the organization seems to have forgotten that ExamSoft was “less able” to perform its one freaking job. [Bloomberg Businessweek]

    * You must be whacked in the mind if you think law school tuition has anything to do with public service loan forgiveness. Law school tuition is high because people are still willing to pay for it. [Huffington Post]

    24 Comments / / Nov 19, 2014 at 9:02 AM