After enduring at least seven years of expensive education, the
average law school graduate now carries a debt load between $50,000 and
$90,000, meaning a well-paying job is virtually a necessity upon
graduation. In steps the corporate sector, which attracts
these economically insecure graduates with highly lucrative jobs. Meanwhile, the
public sector just can't compete -- entry-level Wall Street lawyers can
earn over $100,000 more than their public-interest counterparts. With this migration of young legal talent towards corporate firms, the public loses out.
But help may be on the way. Buried in a bill Congress passed last week reauthorizing the federal law overseeing higher education was a debt forgiveness proposal sponsored by Sen. Dick Durbin. The Tribune has the details:
Last week, Congress passed legislation that would forgive up to $10,000 a year in student loan debts for those in these often low-paying public service jobs. Lawyers would have to commit to a minimum of three years as prosecutors or public defenders to qualify, and a maximum of $60,000 could be forgiven under the plan.
At a news conference in downtown Chicago on Monday, U.S. Sen. Dick Durbin (D-Ill.), who sponsored the federal bill, said he is confident President George W. Bush will sign the legislation.
Cook County Public Defender Edwin Burnette applauded the bill, pointing out that some of his colleagues have been forced to pick up part-time jobs to pay their loans and bills. "We need qualified lawyers on both sides," Burnette said. "This translates into a better criminal justice system for our whole community."
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