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One thing these stats don't capture is the effective tuition charged by law schools. Schools are raising sticker prices, but handing out more scholarships. From
by graeme 12y ago
One thing these stats don't capture is the effective tuition charged by law schools. Schools are raising sticker prices, but handing out more scholarships. From discussions with someone who tracks these things, effective law school tuitions have been dropping.
Law school attendance for most students is being subsidized by richer students and by those who haven't figured out that law school at sticker is generally a scam.
The higher the sticker price, the more impressive a scholarship can seem.
As enrolments drop, schools are pretty desperate for students at present. LSAT median scores and median GPAs are dropping at many schools. Eventually, some schools will have to close; they're in a bubble.
- imh 12y agoLikewise for engineering. I don't know anyone who paid for their doctorate. Instead, they got small stipends.
- josaka 12y agoAs a product of the system, agreed 100%. Also, the true cost should account for lost income while in law school. As opportunities improve for those students who could excel in other areas, the lost income exceeds the tuition cost.
- graeme 12y agoIf you know anyone thinking about applying, this site does a good job breaking down true costs: http://www.lstscorereports.com/national/ http://www.lstscorereports.com/national/ A bit under $300,000 for most schools when you consider tuition and living expenses. That doesn't include interest on the debt. It also doesn't consider the opportunity cost you mention. Finally, one thing most young students ignore is that they have to pay the debt back in AFTER-TAX income. $300,000 in debt takes $450,000 in before tax earnings, assuming a 33% average tax rate.