So what’s your guess? Including undergraduate debt, how much average student debt do you think the average law school graduate has? Well, according to the National Center for Education Statistics, it rounds to $145,500. And don’t forget interest. Currently, the federal rate for undergrad loans is 5.05% and 6.60% for professional school loans.
However, don’t feel discouraged from applying to law school. A career in BigLaw would make that debt amount easily repaid. Finally, there are many ways to reduce your student debt and law schools still award large financial aid offers to their best applicants.