Debt: One of the things I do as a lawyer is to interview potential new admittees to the Bar to try to assess their moral character. [One is supposed to have good moral character to become a lawyer] --Hold the jokes about how I managed to pass that test, please!
So this week I interviewed a guy who has emerged from law school with about $180,000 in debt. Good grief. That is a lot of debt for a young guy.
Well - if he went to private universities, undergrad is what $40K a year now. Law School is what $45-50K a year - hard to know these days how much - I am sure some of the parents with recent or current students know exactly - very easy to have that kind of debt.
I graduated law school in 1997 - as some of you know my dad is a Rabbi, my mom worked for non-profits and we had no family money. I had way over $100K in student loans back then when tuition was lower.