Jump to content

How much debt is acceptable for law school?


Recommended Posts

  • Articling Student
On 8/20/2021 at 5:55 AM, Apple said:

Genuinely curious, how does one graduate with 200k in debt? That's an insane amount of debt to compile. 

About 50K had amounted on my government loan over undergrad. Then additional government loans during law school.  Also 125K will be  on professional student line of credit by the end 

Link to comment
Share on other sites


I think it depends on your circumstances, but as has been pointed out, it depends on how risk averse you are. For those of us that were low income, with no family support from the beginning, undergrad and law school tuition alone hits around $80-90k without factoring in any expenses. I graduated with 100k owing on my line of credit and about ~11k owing through osap. I'm not in big law or in a huge city, but I'm not worried about paying it back at all, repayment terms are manageable and I'm happy with my salary. I can only imagine if someone also has to support a family, or family members, or had literally any other issues come up, how that could jump to 150 or 200k of debt. 

Also just a quick note about the conversation about prestige - I graduated from Lakehead, got a great job right away, and I know many of my colleagues who are working on Bay St, if that's your cup of tea. I was called a whole year before anyone I know at other law schools because we have a condensed program and do not need to article, and a lot of things are based on your year of call. So, sure, people tend to look down on Lakehead in terms of prestige, but don't forget to look at the whole picture. They may not be equal but there will be opportunities no matter where you choose to go. 

  • Like 3
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.
  • Create New...

Important Information

By accessing this website, you agree to abide by our Terms of Use. YOU EXPRESSLY ACKNOWLEDGE AND AGREE THAT YOU WILL NOT CONSTRUE ANY POST ON THIS WEBSITE AS PROVIDING LEGAL ADVICE EVEN IF SUCH POST IS MADE BY A PERSON CLAIMING TO BE A LAWYER. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.