March 13, 2013
LEGAL EDUCATION UPDATE: The Law Graduate Debt Disaster Goes Critical.
Law graduate debt has been increasing by remarkable amounts on a yearly basis: going up at private law schools from $92,000 in 2009, to $106,000 in 2010, to $125,000 in 2011. Average debt for private law grads in 2012 will likely reach $135,000, and average debt for public law grads, which has also gone up rapidly, will likely exceed $80,000. Again, these figures do not count undergraduate debt and accrued interest.
One last piece of bad news: the upcoming JD graduating class of 2013 will be the largest ever, with the highest debt ever, flooding into a dismal job market.
Well, the classes of 2013, 2014, and 2015 will be much smaller.