On the Am Law Daily: ‘Most States Saw Lawyer Surplus Grow From 2009 to 2011′

“Most States Saw Lawyer Surplus Grow From 2009 to 2011“

For those of you who read the “Law Graduate Overproduction” page on this blog, this is the update. I’ll revise the page later.

‘Why Are There No Puerto Rican Scamblogs?’ on the Am Law Daily

“Why Are There No Puerto Rican Scamblogs?“

A question that needed to be asked.

Here’s some Felt:

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Am Law Daily Original: Government Data Reveal Freestanding Private Law Schools’ Growing Reliance on Grad PLUS Loans

“Government Data Reveal Freestanding Private Law Schools’ Growing Reliance on Grad PLUS Loans“

While writing this post, I realized that my prior work on aggregate law school “debt-revenue” treated Grad PLUS loan spending on living expenses as revenue to law schools. Aside from campus housing, this isn’t true. What surprises me is that it took me more than a year to realize such a mistake.

Anyway, teenage love made me insane.

‘U.S. Legal Sector Contracting Even As Nation’s Economy Recovers’ on the Am Law Daily

“U.S. Legal Sector Contracting Even As Nation’s Economy Recovers“

No music as I dropped a glass jar full of pasta sauce on my floor. Not a happy camper, but at least the article is up.

On The Am Law Daily: ‘How Grad PLUS Loans Sustain Zombie Law Schools’

“How Grad PLUS Loans Sustain Zombie Law Schools“

Also, Heather Christian has talent. She wrote the score and performed in a play I saw last year called Mission Drift, which told the story of America through land bubbles. Of course I liked it.

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On the Am Law Daily: ‘Case Western Dean Cagey on Unsustainability of Law School Tuition in Interview’

“Case Western Dean Cagey on Unsustainability of Law School Tuition in Interview“

Aside from that, I’ve got nothing.

Am Law Daily Article: ‘What Do the Terms Used in the ABA’ Graduate Employment Questionnaire Really Mean?’

“What Do the Terms Used in the ABA’s Graduate Employment Questionnaire Really Mean?“

Since I was thinking about the Chrysler Building last week, here’s the ultimate song dedicated to it (which, coincidentally, I noticed was not on the list of banned songs by Clear Channel Communications after the suicide hijackings at the time. My favorite: “Rage Against the Machine: All songs by Rage Against the Machine”).

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On the Am Law Daily: ‘Who Knew Law Students Were Scamming the Government All Along?’

Who Knew Law Students Were Scamming the Government All Along?

Same title, different content and better researched, e.g. California Western is a nonprofit and not a for-profit (confused it with Western State).

I didn’t feel like including it, but here’s an animation of the differences between the current IBR and the revisions that will go into effect in 2014 or earlier. I’m pretty diddly-doodley darned sure that I got the math right on this. No idea why I confused the annual Stafford limit ($20,500) with the aggregate, which is b’ween $42,500 and $65,500 depending on what one borrows as an undergrad. This animation assumes the minimum $42,500.

Isn’t this so much more lucid than a repayment calculator?

IBR Formula ‘Cracked’ on the Am Law Daily

It’s actually really easy, just required a trip to the Dept. of Health and Human Services’ Web site. However, I learned quite a bit in the process, especially how much income debtors need to avoid loan cancelation (answer: more than most law grads make). Check it out:

“Income-Based Repayment: Lifeline for Law Graduates, Certain Loser for Government“

One important mea culpa: Unpaid interest on IBR loans does not capitalize onto loan principal as I’ve stated elsewhere, so very few people will be paying hundreds of thousands of dollars in income tax 20 years into repayment, unless they borrowed, like, more than $500,000 and didn’t pay any of it back.

Another tidbit I learned is that a fraction of debtors might have lower monthly payments on a 25-year repayment plan than IBR, provided they don’t get laid off or suffer a wage loss.

Now, you must trip to this sugarlump.

New Am Law Daily Article: ‘New York’s New Mandatory Pro Bono Requirements a Step in the Wrong Direction’

‘New York’s New Mandatory Pro Bono Requirements a Step in the Wrong Direction’

A little shorter than most of my publications, so enjoy.