Will the Class of 2012 be in old old age before they pay off their, on average, $100,000 in law school loan debt? Not necessarily. It must be a slow news week. AM LAW DAILY has yet another another article about the big amount owed and the lousy job situation in law.
The reality is that these Millennials were smart enough to get into law school and cagey enough to pass all the obstacles and graduate, they will likely get over their passion for law and get other kinds of good jobs. So, they still have to pay off the loans? My generation had to pay off big houses and vacation homes we couldn't afford. That was how we had to live back then. It made us house poor and terrified that our income wouldn't keep going up. Millennials with JDs just have a different version of financial hell.