Law Grads Can't Afford to Fight the Good Fight

The rising costs of a law degree is depleting the ranks of public prosecutors, defenders and public interest lawyers.

The problem has been overshadowed recently by scandals in the student lending industry. But some say the real issue is not the way loans are marketed to students but the fact that students need to borrow so much money in the first place.

According to the U.S. Public Interest Research Group, fewer than one-third of all four-year college graduates left school with student debt in 1993. By 2004, the percentage was two-thirds.

And law students are racking up mortgage-sized debt loads. Attorneys from the class of 2005 borrowed nearly $80,000 on average if they went to private school and just over $50,000 if they attended a public institution. That's on top of any debt they may carry for an undergraduate degree.

All that debt makes it very difficult for them to pursue careers in public service.

Nicholas Carlisle, a 27-year old 2006 graduate of the University of Alabama School of Law, estimates he spends $250 more per month than he makes. Carlisle spearheads a program protecting the legal rights of Alabama residents living with HIV -- a job he loves. However, his $37,000-a-year salary makes it hard to put a dent in the $60,000 he owes on his student loans.