Law Schools

Average Annual Law School Loan Jumped 50 Percent Since 2001


Law school student loan debt has reached an all-time high as students are borrowing more to cover rising tuition.

The average amount borrowed annually by law students jumped 50 percent from 2001 to 2010, the Hartford Business Journal reports. In the last academic year, law students borrowed an average of $68,827 for public schools and $106,249 for private educations.

For the 2001-2002 academic year, the average amount borrowed was $46,499 for a public law school and $70,147 for a private one, according to an ABA chart (PDF). Prior years aren’t listed.

According to the story, lawyers will have to make at least $200,000 more than college graduates, over a lifetime, for the investment to break even.

Related coverage:

ABAJournal.com: “ABA President to Boxer: Law Grads Shouldn’t Be ‘Shadowed by Overwhelming Debt’ ”

ABA Journal: “Law School? Bag It, Bloggers Say”

ABAJournal.com: “Was It Worth It? With Debt of Up to $250K, Some Law Grads Are Dubious”

Previous:
About 25 Percent of Lawyer Moms Leave the Workplace, Study Finds

Next:
A Promising Spring: Legal Industry Adds 1,500 Jobs, Demand for Legal Services Increases


We welcome your comments, but please adhere to our comment policy. Flag comment for moderator.

Commenting is not available in this channel entry.