* Obligatory “This Is Not An April Fools’ Joke” Disclaimer *
Now that that’s out of the way, let’s move on to something that’s no laughing matter: student loan debt. According to Education Data Initiative, the average law student graduates with ~$140K in student loan debt. Damn I wish I was closer to being average.
Anyone that’s considered the FIRE life knows that there’s an incentive to paying off debt early. Over time the compound interest can be a bigger threat than the amount you took out — the earlier you get to paying down the principal, the easier it is to stop the debt from snowballing out of control. Put differently, not only is $10K a lot of money to give to a law school graduate, putting that directly toward your student loans could save them even more cash over time. Great time to be a Maurer School of Law graduate! WishTV has coverage:
All 154 May graduates in the Indiana University Bloomington Maurer School of Law Class of 2026 will receive a $10,000 gift from anonymous donors.
The school called the gifts “unprecedented” in a Wednesday blog post.
The gifts totaling nearly $1.6 million were intended to reduce the burden of student debt as graduates prepare to enter the legal field.
Forgive me for being presumptuous, but this is what the entire graduating class is feeling right now:
Cheers to your degrees and lightened debt loads Class of 2026! And if any anonymous donors want to mirror generosity and retroactively do the same for WashU’s Class of 2021, it isn’t too late!
Anonymous Donors Give $10,000 Gifts To 154 IU Law School Graduates [WishTV]
Chris Williams became a social media manager and assistant editor for Above the Law in June 2021. Prior to joining the staff, he moonlighted as a minor Memelord™ in the Facebook group Law School Memes for Edgy T14s . He endured Missouri long enough to graduate from Washington University in St. Louis School of Law. He is a former boat builder who is learning to swim and is interested in rhetoric, Spinozists and humor. Getting back in to cycling wouldn’t hurt either. You can reach him by email at cwilliams@abovethelaw.com and by tweet at @WritesForRent.
The post Law School Graduates Gifted $10K For Finishing Law School appeared first on Above the Law.
