National Jurist - November 2007 - (Page 24)

between $36,000 and $106,000, with the highest reported at $213,000. And the numbers are increasing. The average amount borrowed for law school among public institutions increased from $46,499 for the 2001-2002 school year to $54,509 for the 2005-2006 school year, according to the American Bar Association. Private schools report higher debt — using the same years, their students’ debt rate increased from $78,763 to $83,181. In practical terms, that means the average graduate from a private law school is paying $1,000 a month just to cover their law school debt. That represents more than 20 percent of their monthly paycheck — a figure double what financial planners recommend. And the figure is as high as 30 percent for graduates of private law schools working in public interest law. “For the average law graduate, this dilemma is only going to get more problematic over time,” Hanson said. “It probably is going to be worse. It won’t happen gradually, but in significant jumps.” To first-hand observers like Hanson, the reasons why this is happening are as Impact of debt on standard of living Financial snapshot: Private law school graduate ($78,763 debt) Case 1 Average Salary Annual salary Monthly salary - Taxes - Loan payment - Living expenses* $60,000 $5,000 $1,667 $1,013 $2,050 Case 2 Private practice $85,000 $7,083 $2,361 $1,013 $2,050 Case 3 Public interest $40,000 $3,333 $1,111 $1,013 $2,050 Balance -$350 $1059 -$1441 *Living expenses include housing, food, transportation and utilities Info from the NALP & Access Group 2007 Symposium on Law Student Debt and its impact on Lawyer Career Pathways clear as the negative balance in a student’s checkbook. They include: • Higher education has become more expensive. That public law school that cost $2,006 in 1985 now has a tab of $13,145, the American Bar Association said. A nonresident who paid $4,724 in 1985 now owes $22,987. Private law students have gone from bills of about $7,526 to a whop- ping $28,900, the ABA found. • Families are less able to provide financial support for students seeking higher education. Because many families have more lavish lifestyles, there is less money to go toward another three years of school. And some parents who paid high bills for preschool, private elementary and secondary educations may not have the cash left HumanRights and Humanitarian Law A LEGAL APPROACH TO HUMAN RIGHTS Academy on Specialized Summer Program May 27–June 13, 2008 Washington, D.C. www.wcl.american.edu/hracademy In its 10th edition, choose from 17 courses, 10 in English and 7 in Spanish. Earn ABA credit, a Certificate of Attendance or diploma. Be a part of this unique program that brings together 33 professors to teach participants from over 30 countries. 2008 Courses Include: Terrorism and Human Rights European Human Rights Law Human Rights and Development International Humanitarian Law Economic, Social and Cultural Rights United Nations Human Rights System Women & International Human Rights Law Regional Approaches to Human Rights Law Election Observation and the Right to Political Participation International Justice for Human Rights Violations 2008 Faculty Include: Manfred Nowak, UN Special Rapporteur on Torture Martin Scheinin, UN Special Rapporteur on Human Rights and Terrorism Jordan Paust, Professor, University of Houston Law Center Rebecca Cook, Faculty Chair, International Human Rights, University of Toronto Robert K. Goldman, Professor, American University, Washington College of Law For additional information please contact us: Claudia Martin or Diego Rodríguez-Pinzón, Co-Directors American University Washington College of Law E-mail: hracademy@wcl.american.edu Phone: 202-274-4070 Elizabeth Andersen, Executive Director, American Society of International Law (ASIL) Juan Méndez, President, International Center for Transitional Justice Gudmundur Alfredsson, UN Sub-Commission on Promotion and Protection of Human Rights Claudio Grossman, Dean, American University, Washington College of Law Netherlands Human Rights Institute, Utrecht University 24 THE NATIONAL JURIST November 2007 http://www.wcl.american.edu/hracademy http://www.wcl.american.edu/hracademy http://www.wcl.american.edu/hracademy

Table of Contents Feed for the Digital Edition of National Jurist - November 2007

National Jurist - November 2007 Contents Disturbing the Peace For the Record Blogs: The Death-knell for Law Reviews? Chemerinsky Heads UC-Irvine Ave Maria Dispute Raises ABA Inquiry John Marshall Establishes Veterans Clinic The Firm Report The Paper Chase Chronicles Law School Rankings at Math's Mercy Academic Freedom Called into Question St. Thomas Students Choose ‘Quality of Life’ Experience The Hidden Debt Crisis The Global Frontier International Education has to be a Part of Any Legal Education Employment Defender Career Hotline Off the Bench

National Jurist - November 2007

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