If all student loans were forgiven instantaneously, would that put downward pressure on the Cravath scale? Surely debt levels coming out of law school have some relevance.

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Since many people only take on Biglaw jobs to pay off their debt and then accept lower paying in-house/NGO/other jobs where they’ll “fulfill their purpose”, I think it will.


If anything it would go up. Lots of people working to pay off their loans may leave. Others wouldn’t join who otherwise would have. That increases the need for people while reducing the potential pool, assuming firms don’t start recruiting at lower-ranked schools, which I expect most wouldn’t.


I actually know a lot of people who went to law school just to make lots of money. Many of whom didn’t have enormous student loan debt. I think the market is the market. Everyone wants to be paid what they’re “worth” but quality of life is a bigger indicator for me personally than my debt to income ratio. My guess is that as long as capitalism “works” companies will (should) continue paying people what they can afford and that should increase not decrease over time.


I would riot

But if the market decreases for new hires accordingly, would you follow suit?


Unless billables go down, they better not do that

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