When will you hear the outcry over universities, who line up students with degrees that will never translate into the earnings needed to pay back enormous student loan debt?
THE COST OF A LEGAL EDUCATION
Obtaining a degree from an ABA-accredited law school is not cheap. Over the last twenty-five years, law school tuition has consistently risen two times as fast as inflation. Consequently, the average tuition at private law schools in 2008 was $34,298, while the average in-state tuition for public law schools was $16,836.2 When one adds books and living expenses to tuition, the average public law student borrows $71,436 for law school, while the average
private school student borrows $91,506.3 Many students borrow far more than $100,000, and these numbers do not even include debt that students may still carry from their undergraduate years.
To make matters worse, the recent economic downturn will likely make legal education even more expensive. Endowment losses, declining state support, and difficulties in fundraising have hit law schools hard. Consequently, most public law schools are raising tuition this year by 10-25%. At the same time, prospective students may have fewer resources from savings, family assistance, or other sources to help defray the cost, even as financial aid assistance declines. An average student considering enrolling in law school now should thus expect to graduate with debt well in excess of $100,000.
When the profession is begging people not to enter it's field, you know there's a glut.
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