Credit: zimmytws/Shutterstock.com Student Debt Burden: What About Lowering or Cancelling the Interest?
The federal government should no longer allow interest to be accrued for certain payment plans or simply cancel student loan interest all together. In lieu of canceling all student loan debt, all interest payments should offset the original principal.
December 23, 2021 at 10:00 AM
5 minute read
Chances are that if you are reading this article and graduated from law school within the last 10 years, you are a part of the 90% of law school graduates with student debt. You also likely have about $130,000 of debt from undergraduate and law school, which has affected or delayed your decisions about certain aspects of your life. This reality was supported by a recent survey conducted by the American Bar Association Young Lawyers' Division and the AccessLex Institute Center for Legal Education Excellence. Both organizations collected data from a group of attorneys representing law school graduates in their 20s and 30s in big law, solo practice, government, industry, and non-profit settings, with the purpose of assessing the burden of student loans and its impact on life decisions.
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