Tuesday, January 18, 2011
Default: the Student Loan Documentary
The entire documentary can be seen at www.defaultmovie.com. This is a must watch for all those who are thinking about attending college with a high price tag. Many college students believe that student loan debt is an investment which will lead to higher earnings in the future. While this may be true it is imperative that student loan costs be discounted into future earnings. And then there is the risk of default which makes one's life much more difficult.
For prospective law students, read the thread on JD Underground where a Santa Clara law 1L is dropping out after his first semester. As he leaves with only $15,000 in student loans the posters rejoice in his decision. This shows how much fear there is amongst students regarding student loans. I have been seeing more and more 1L's dropping out as the word gets out as to how difficult it is for new JD's. As Thomas Jefferson said, "information is the currency of democracy."
Until next time,