<p>My point in linking to the article was not to suggest that everything today is just like it was in 1982. I’m well aware that law school tuition has been going up faster than the rate of inflation for the last three decades. Tuition at Berkeley nearly doubled between my first year and third years of law school. (Given that it started in the three figures, that wasn’t exactly a tragedy.) It’s also true that salaries for Biglaw associates went up much faster than the rate of inflation for several years.</p>
<p>My point was that those who are graduating now but haven’t found their dream jobs shouldn’t despair. Things are likely to get better, even for those who borrowed heavily to fund their educations.</p>
<p>By the way, student loans have been generally nondischargeable in bankruptcy since 1976, only 18 years after the very first federally backed student loan was funded.</p>