Are Bar Study Loans Student Loans?

[treehugger1]

Well, One would hope that the 'student" got a reasonable paying job in the legal field. After such employment, a 15% garnishment should be welcome compared to most monthly payments for law degree loans or any loans toward PhD requirements. 15% garnishment turns out to be cheap in my case.

[KeithDoxen]

Well, One would hope that the 'student" got a reasonable paying job in the legal field. After such employment, a 15% garnishment should be welcome compared to most monthly payments for law degree loans or any loans toward PhD requirements. 15% garnishment turns out to be cheap in my case.

I think the 15 percent garnishment to which you refer applies to federal loans. This is a private bar study loan, which means that the lender would have to sue and get a judgment, and then could garnish the maximum amount under the laws of whichever state issues the judgment. This is often as much as 25 percent of income.

Also, I wouldn't be so sure that the student did indeed get some high-paying law job as you imply. Certainly not in this economy.