Law Schools Against Lattes

This weekend the Washington Post reported on a novel effort to reduce the debt of law students. With 78% of professional students (doctors, lawyers, etc.) borrowing for college and debts often topping $100,000 you could see why some would be concerned.

In this case a law school administrator has set up a web site to help you calculate the debt burden that is created by your daily Latte. You could use the calculator to figure out almost anything. I used it to figure out that a student in Boston switching form the New York Times to the Boston Globe would save almost $2,500 once you consider the impact of interest on the debt that is used to pay for the extra spending on the Times.

If you are interested in more calculators to help you plan or manage your college finances, the best site is finaid.org.