There was a great post from Slate on law school debt and how to cope with it when going into a career of public service.
They referenced that non-profit law practitioners average $41/hour while for-profit practitioners average $58/hour. A difference of close to $35,000/year which can go a long way to paying down your law school debt which can often exceed 100K at today’s leading law schools.
Here is a link to the article: How to Escape the Law School Debt Trap
Great tips at the bottom of the post about new programs available to help offset or relieve entirely the burden of law school debt when you go to work in the private sector. Enjoy!
When considering the amount of debt you’ll have to take on while pursuing your law degree, be sure to factor in your cost of living in addition to your tuition costs.
Many students who wish to obtain a law degree consider out of state institutions known for their specialties, but out-of-state means you are likely less familiar with the true costs you’ll incur while in your law program. Before choosing a law program, investigate the cost of living in the area in which you’re thinking about attending school. It shouldn’t be a sole factor in your decision but, in some cases, the cost of living will be more than tuition fees themselves.
Consider this. Tuition to Stanford’s three year law program is $44,880/year, but cost of living in that area is high and Stanford estimates that for the average single student on campus, they’ll incur costs of $71,535/year after paying for room and board, food, clothing and other typical expenses.
In a three year law program, that totals over $210,000 by the time you obtain your degree. Its critical when estimating your law school costs and calculating your law school debt repayment plan that you consider not only the tuition but the cost of living in the area in which you plan to live.
