The dreaded loans and ways to not pay them - something for grads, something for students

Tomorrow, July 1 marks the first day that law school grads will be able to select Income-Based Repayment which limits federal loan repayments to 15% of discretionary income. Combine this with Public Service Forgiveness to get rid of your loans in 10 years, afford to work for the government or a non-profit, and save the world.

Can't wait to graduate to not pay your loans? How about a scholarship. There are many scholarships out there ranging from need based to merit based to contest based (think Miss America). In the third bin (it is not Miss America) is the Access Group's "My Inspiration" contest. All you have to do is submit a video explaining your reasons for coming to law school. The prize, $10,000 and 15 minutes of fame on the YouTubes of the interwebs.