ABA President Stephen Zack Responds to Sen. Boxer

THIS IS A COMMENT ABOUT THIS ARTICLE AND ABOUT THE TJSL LAWSUIT ARTICLE: Ok, we have alllll heard of buyer beware. Fine. There is usually some merit to a lawsuit, a story to be heard, fine. But since we are on topic, let’s look to see who also influences her economic success (besides her own will to succeed): The real criminals are the people granting loans with ridiculous interest rates. A “bar loan” of $12k that one graduate took out in May is now at nearly $16k, despite having paid more than $4k in payments toward the loan. THAT IS A CRIME!!! It is not a suprise, that most grads will take out a bar loan because it is not a surprise that msot grads do not not have cushy jobs lined up to pay the bar exam expenses plus living costs. People wouldn’t be as concerned about the job prospects if the loans they now ‘owned’ weren’t as criminal as the ones these banks give out to the already struggling grads. We get it, the economy is bad. Jobs are starting to pick up in the legal field and it is not like we have no seen this economic cycle before, so really, grow up if you thought you were immune or that privileged to escape a bad economy. THE STUDENT LOAN LENDERS ARE THE CRIMINALS!!!! Consumers can get debt washed out in Bankruptcy for stupid debt they accumulated buying crap for their homes yet student debt as RIDICULOUSAS THIS is NOT?! Lets point the finger to the correct people here.