"In January, the committee of New York lawyers that reviews applications for admission to the bar interviewed Mr. Bowman, studied his history and the debt he had amassed, and called his persistence remarkable. It recommended his approval.
But a group of five state appellate judges decided this spring that his student loans were too big and his efforts to repay them too meager for him to be a lawyer.
“Applicant has not made any substantial payments on the loans,” the judges wrote in a terse decision and an unusual rejection of the committee’s recommendation. “Applicant has not presently established the character and general fitness requisite for an attorney and counselor-at-law.”
Mr. Bowman, 47, appears to have crossed some unspoken line with his $400,000 in student debt and penalties, accumulated over many years."
I accumulated $50,000 getting a PhD. That included no undergraduate debt. That debt will cost me $130,000 by the time I pay it off in 2032 when I turn 65. This is relatively cheap when you consider the lifetime boost to my earnings, and the fact that it allows me entree into a set of jobs where a PhD is a bright line.
I cannot IMAGINE what 400K would be like to pay off. I pay (currently) $266 a month toward my government loans. It just went up $14.00 because it is staggered like that over my lifetime, following an assumed upward trajectory in earning power which has so far been borne out (in the main, I have my ups and downs like everyone).
$400,000 is eight times what I took out (and I used it to pay for tuition, mostly, which then 'reimbursed' me through teaching assistantships, which I then lived off of). He's paying nearly $2500 a month in student loans. That is our mortgage!
I think they cannot prove intent, but what the bar is saying is, in effect, that's fraud, yo. He never could have had any intention of paying that back OR he's delusional. Either way, not fit to practice.
