The Law School Bubble: How Long Will It Last if Law Grads Can’t Pay Bills? | ABA Journal
Article discussing the circumstances of federally subsidized loans for law school, which seem very similar to the mortgage crisis. Loans are made to law students with little concern for their ultimate ability to repay. The ability to repay is hurt by the glut of lawyers being turned out by law schools and the insufficient number of jobs available for them. The bubble will burst when the failure of ability to repay begins to affect the ability to make new loans, causing a crash in revenue for law schools.