Ask The Money Coach

By Lynnette Khalfani-Cox, The Money Coach

The bad news is that most law school graduates have a ton of student loan debt. The good news is that many law schools forgive loans of students who serve in public interest or nonprofit positions.

Equal Justice Works is a great resource for how you can get law school loans forgiven. Browse its website or download its PDF brochure “Financing the Future: Responses to the Rising Debt of Law Students.”

Through that publication and others, you’ll discover how law schools, states, and philanthropies are helping college grads, especially lawyers, pay back their student loans.

The new trend is toward the development of so-called LRAPs: Loan Repayment Assistance Programs, as more and more conscientious members of society recognize that it’s not in the public’s best interest to have a whole generation of students awash in debt.

It’s especially harmful in the legal arena, because law school grads who can’t pay their student loans can’t take public interest (translate: lower-paying) jobs where they could help poor communities or those disenfranchised members of society who, without some assistance, would not have access to all their rights under the law.

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This is an excerpt from my book Zero Debt for College Grads: From Student Loans to Financial Freedom. Get the book now at Amazon.com.

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 Lynnette Khalfani-Cox, The Money Coach is a personal finance expert, speaker, and author of numerous books on personal finance. She appears frequently as an expert commentator on television, radio and in print.