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Forget about the lawyers for a second. Think about the years doctors will spend accruing interest while they study. Think about a mathematics Ph.D candidate who might start grad school when he's 22 and have nearly a decade of interest waiting for him when he graduates into professorial market. This plan will make it harder for thousands of the very people Obama says we need more of to achieve financial security before they're eligible for (soon to be non-existent) Social Security.
And really, lawyers will be better able to pay back their loans and the interest on the loans then other "knowledge elites." You know why? Because when a poor, distressed client shows up in desperate need of legal representation, the lawyer will say "Get the HELL OUT OF MY OFFICE, you freaking HOBO. I've been paying off interest on my loans since I was 22 years old. I don't FART on somebody for less than $ 50 an hour. You'll be RECEIVING A BILL for this one-minute conversation! "
It's really not that complicated: if you want to make legal services available to low-income clients, you have to make legal education less expensive. How is it that I can understand this more fundamentally than the President of the United States? Maybe home-owners can walk away from their underwater mortgages, but law graduates - even deadbeats like me - try to pay off their loans. We HAVE TO. The system leaves us no choice because the debts are not dischargeable even through bankruptcy absent a showing of undue hardship (as recently noted by
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