Junior Associates - How much student loan debt are you and your peers in these days? A few young partners and counsel at my firm were discussing the student loan moratorium and most of us were convinced we could have paid the majority of our loans off with the bonuses associates got these last two years. But we are all old and when we graduated 150k to 200k was about the max student loan debt people graduated with. So educate me. What is the average student loan debt these days?

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I think around $150-200k is the average, but I know a lot of people between $250k-300k. If you have zero help from family and zero savings, the cost of attendance has gotten really really high.

2020 grad here and I only have $40k.. I wasn’t willing to go to law school without a massive scholarship so I retook the LSAT. I also had a little help from family with cost of living.

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Thanks for sharing!

2016 grad. No undergrad debt. Went to a T2 law school on a near-full ride. Had help from family, used paid internships, part-time work, summer associate pay, other endowed scholarships I applied for and earned, about $10k of low interest federal loans, and kept living costs as low as possible to pay the rest of the way through law school.

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Class of 2019 - started with $150k but made the final payment in September

likeuplifting

Baller!

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What I learned from this thread is that more folks should go to state schools...

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I went to state school for undergrad and had scholarships for law school and I still have loans. Also first gen college student.

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2019 grad- I have about $280k

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Twinsies!

How could you pay off your loans with just a few years of bonuses??? The after tax bonus first years receive year-end will be around $12k.

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Lol the other $200 you make during the year is a start.

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Just graduated in May with $310k total including about $30k from undergrad

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A45 - because those schools (and a few others) make up the schools between T14-20 and if you got into a T14 with no money you likely got money from one or all of those.

I think 100-150 is the average. Whereas the max I have seen is 300k

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$0 in debt. GI bill

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Ah okay, that makes sense.

2019 grad - I had about 180K, down to about 70K now.

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Nice job!

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2019 graduate - 230k

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2020 grad. $15k. Full ride + living stipend, just took out a loan to cover the extended bar study period.

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Kk A12, we aren’t looking for your sympathy.

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Class of 2021. 0 undergrad, 60k law school. Did not go to T14. Two summers in biglaw helped keep the debt low.

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2019 grad. $100K in loans. All from law school. All federal loans. Saved money by starting part time and paying cash for tuition from full time job for 1L. Transferred to T14 and went full time when I decided I wanted to go into Big Law. Taking the loans out made sense to me at that point. Planning on focusing on the Grad Plus loans during the remainder of this interest free period. This is about 1/3 of my total student loans debt.

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2020 grad, I’m at ~80K but had some help from my parents

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What is “some help” in $$?

2020 grad - $145k

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Same

2019 grad ~ $175K and paid off about $20K in private loans

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2020 grad. 300k. Government loaned me $110k and interest is $190k.

helpful

Yeah. I have no problem paying back what I was loaned. It’s the interest amount that throws me for a loop.

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2020 - $290k

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2020 grad. $30k from a state school with a 50% scholarship. Closer to $90k when you factor in my wife's students loan debt that I'm ultimately responsible for as well. I'm in biglaw but in a city that pays significantly below market.

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