Something to think about as another 20 law schools are sued over troubles with employment placement data used in recruiting students. How should the ABA respond to this debacle long-term?
In a not-unrelated article, NYU Law School has reportedly paid $3.6 million for a new faculty condo.
The Atlantic has this piece which sums up the impact of the student debt burden on young attorneys and the larger economy:
There are plenty of other reasons to worry, though. First, the growth of student debt is making it harder and harder to enter the middle class, or to stay there. When teenagers are forced to take out loans in order to pay for their education — the median graduate who takes out loans* leaves school $12,800 in debt — it acts as a tax on their future wages. It postpones their ability to settle down, buy a home, and have children. That’s tragic for them, and it’s tragic for us, because it means less money will flow into other, more productive parts of the economy.
In other words, think of student debt as an economic parasite — a tape worm, if you will. It won’t kill the economy quickly, but it will sap the life out of it over time.