Bloomberg Law’s 2021 Law School Preparedness Survey results show that nearly half of respondents have amassed at least $50,000 in law school-related debt—and debt levels are higher for those who came from families with lower educational attainment levels.
To counterbalance this, law schools should consider an applicant’s status as a first-generation law student and their family’s educational attainment—among other relevant factors—when determining financial aid and scholarships for their incoming classes.
The Law School Debt Landscape
Overall, law school debt varied greatly among respondents whose families’ education levels ranged from less than high school to law school graduates. More than one-quarter ...