Ad: BlueJ Better Tax Answers. -Accomplish hours of research in seconds -Instantly draft high-quality communications -Verify answers using a library of trusted tax content. Learn more

Law Students Are Reluctant to Talk About Their Student Loan Debt

Student LoansThe Blog of Legal Times, Sen. Durbin Finds Law Students Reluctant to Talk About Loan Debt:

Sen. Dick Durbin (D-Ill.) is collecting stories about crushing student loan debt as part of his push to reform lending laws, but few law school students have shared their woes. “We are currently not hearing too much from law school students or former students — more stories are coming from students of for-profit schools,” a Durbin aide said in an e-mail. …

Durbin, who himself took out loans to go to law school, has introduced legislation to prevent students from being lured into high-interest loans based on false promises. He urged students to contact him about their situation. …

Durbin says the bill he introduced with Sen. Tom Harkin (D-Iowa), the Know Before You Owe Act of 2012, would require schools to counsel students before they sign on to expensive, even unnecessary, private student loan debt and inform them if they have any untapped federal loan eligibility.

During remarks on the Senate floor last month, Durbin said he is living proof that student loans work. “I borrowed money to go to college and law school. I paid it back and felt it was money well invested. I stand here today because of it,” Durbin said.  “A lot of students have gone through the same experience. Unfortunately, too many students today are being steered into loans that they will never be able to repay.”


About the Author

Ad: BlueJ Better Tax Answers. Blue J's generative AI tax research solution is transforming how tax experts work. Learn more.
Information and rates on advertising on TaxProf Blog

Discover more from TaxProf Blog

Subscribe now to keep reading and get access to the full archive.

Continue reading