The NY Times ran a depressing op-ed this week highlighting a recent report from the Consumer Financial Protection Bureau which showed that the “number of Americans aged 60 and older with student loan debt has grown fourfold over the last decade, to 2.8 million in 2015 from about 700,000 in 2005. The average amount owed by these borrowers has nearly doubled, to $23,500.” The CFPB data lumps all “student debt” together, without distinguishing law school or other graduate school debt. But let’s go out on a limb and assume that this phenomenon of aging debtors holds true of law school graduates (average debt burden $140K+), but is worse in all the particulars.
Keeping Law School Accessible When Federal Loans Fall Short
As federal borrowing caps tighten financing options for law students, one organization is stepping in to negotiate the terms they can't secure alone.
Brian Dalton is the director of research for Breaking Media. Feel free to email him with any questions or comments.