Student Loan Tips

I am one of the volunteers with the Bankruptcy Court’s Credit Abuse Resistance Education Program (“CARE Program”). The CARE Program is a financial literacy education program for students and young adults taught by bankruptcy professionals. Its goal is to improve the financial literacy of students and other young consumers.

The CARE Program provides practical advice on (1) the true cost of consumer credit; (2) the difficulty of repaying consumer debt; (3) the need to have savings and to effectively budget; and (4) the advantages of living with manageable consumer debt.

CARE presentations are taught by experienced and passionate bankruptcy practitioner volunteers, who use relevant, real life examples to engage their audience. Presentations are flexible and can be specifically tailored to address a group's specific needs/ time frame. CARE presentations free of charge. If you are interested in scheduling a presentation for your group or class, you can find more information HERE

The CARE Program also addresses the important topic of student loan debt, which is one of the biggest problems facing young people today, and explains the different types of student loans and how to choose among them wisely. I recently gave a presentation about law school loan debt to a group of aspiring law students. I am sharing the information below as I believe this information could probably apply to anyone considering college/ grad school (anyone wanting to further their education). This is just a brief overview and there is a lot more information out there, but I hope these tips are a helpful:

Why we love practicing law

Although being an attorney is a wonderful and fulfilling career, going to law school is not a decision to be made lightly, especially because of the expense involved. If it has always been your hope, wish and dream to be a lawyer and you want to help and serve others, that is one thing. But if it is more of a “whim” or “something to do” after college or you think you will make a “ton of money”, those are not the right reasons; and you may want to give more thought before going…

Law school expense

You will most likely have to take out student loans in order to pay for law school tuition and/ or living costs

You will need to make enough money to pay back your student loans and live the life you want. Remember also, after you graduate, your expenses will also go up as this will be the time in your life when you will be buying a house and getting married/ starting a family

Income/ Job market


Student Loan Budget

Post-Graduation Budget