Law schools should provide students with better debt counseling, report more information about their revenues and expenditures, and experiment with ways to make a law degree more affordable.

Those are the three key recommendations from an American Bar Association task force that spent a year examining the financial realities of becoming a lawyer and how rising costs are affecting students.

The 15-member ABA Task Force on the Financing of Legal Education—an outgrowth of an earlier task force on the future of legal education—issued its report and recommendations on Friday.