Law Grads Now 'Indentured Servants' To US Government
June 13 (Bloomberg Law) — Paul Campos, professor of law at University of Colorado at Boulder School of Law, talks with Bloomberg Law’s Lee Pacchia about the rising unemployment and debt levels for recent law school graduates. Campos says years of rising tuitions at law schools and declining employment opportunities have created a generation of educated young people who lack the means to earn enough to adequately service their student debt. Given these circumstances, Campos contends that a law degree currently has a negative net present value. Campos also claims that the student debt crisis for young lawyers is symptomatic of a larger social trend and presents a ‘recipe for social turmoil.’ In terms of how these trends could be reversed, Campos feels reforming the US Bankruptcy Code to make student loans dischargeable would be an important step in the right direction.