Fri, 24 May 2013
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Why the law’s no safe haven
Apart from the few bright students who, in preparation for training contract interviews, are swatting up on the current economic downturn, most students are indeed relatively oblivious to it. But not without reason.
At undergraduate level, it's simply the norm these days to borrow thousands every year from the Student Loan Company. For postgraduate law students (on the GDL and LPC), banks such as [major high street bank] offer professional trainee loans of up to £25,000!
This lifestyle is not only one of easy credit, but also one where there is an expectation – from fellow peers to government ministers – that students will finish their studies with a large amount of debt.
It’s not so much a case of tales of riches with which today’s students have been brought up; if anything, the unavailability of cheap credit is a concept which simply reverberates off the exterior walls of student unions and their digs.
Rightly or wrongly, the realities of financial struggle in company boardrooms, family homes and managing partners' offices are a million miles away from most if not all students.
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