Law School Tuition

Prospective attorney’s can expect to pay high costs for tuition during law school. Depending on what school you are enrolled in and whether or not it’s a public or private school, will determine your actual tuition costs each year. It’s highly advised that you should take the time and carefully plan how you’re going to pay for law school before you actually begin. Unlike other professions that usually require a 4-year degree, law students only have to endure an additional 3 years after their undergraduate degree. Most new law graduates face around $84,000 in debt after graduating.

Living close to school isn’t such a bad idea for prospective lawyers. Law students should take all factors into consideration while planning each year’s financial aspect of law school, such as:

• Tuition
• Room and board
• Food
• Travel
• Books
• Course fees
• Additional living expenses

There are many things a law student can do to help pay for law school. Part-time work is generally all law student’s can handle, as the curriculum and course work tends to be time consuming (especially for student’s who are attending full-time). Scholarships and grants are given by the government, as well as private sources. Loans are also given to help student’s finance law school. In most cases, the schools registrar can assist students with financial aid paperwork, etc. Students who excel during high school and undergraduate study have an easier time receiving financial aid through resources such as scholarship programs and grants.  Two thirds of new graduates take on loans during law school, and depending on which type of loan they received will determine when they must pay it back by.

Individual schools generally have a Student Expense Budget available to help students budget their expenses, plus calculate how much to borrow. Unfortunately, many students take out loans that accrue interest. To help counter these extra dollars spent, doing things such as learning to cook, bringing lunch instead of buying, and sharing housing can help a law student save money.

Repaying Law School Loans

Law school graduates can expect to accrue over $100,000 throughout their college years. Most law students finance law school through loans, amounting to just under $1,200 to cover tuition, fees, and other cost of living expenses. Most law students live on a budget during law school. Depending on which type of loan was received will determine how long a graduate has to repay the loan. Most lenders offer graduated and income-sensitive repayment plans, which lowers the monthly amount but increases the years it takes to pay it off. Federal Stafford, Ford Federal Direct Loans and Graduate PLUS loans are examples of loans that offer extended repayment schedules. Most of these loans can last 30 years. The Stafford and Direct Loan lenders also offer IBR (income-based repayment) options. Depending on the loan amount and the amount of income a borrower earns per month determines his or her monthly payment amount. Other loans must be paid back after 10 years.

The biggest issue most new graduates face is landing a decent job (one that will allow you to pay back your loans in a reasonable amount of time). During law school, it’s important that a student networks and participates in extra curricular activities that enable him or her to meet or intern for larger, more prestigious law firms. This way, once school is over and the bar is passed, the new lawyer has possible job opportunities waiting and will be able to repay the loan sooner. It’s important to remember that not all new attorneys will make the highest salaries, therefore, borrowing the right type of loan is critical after graduation.

Public Vs. Private Law Schools

Below are several Top 10 lists, based around the cheapest and priciest law schools in the public and private sectors.

Top 10 Most Expensive Public Law Schools

1)    $43,250- University of Michigan- Ann Arbor

2)    $38,800- University of Virginia

3)    $35,420- University of Illinois- Urbana-Champaign

4)    $35,907- University of California- Berkeley

5)    $35,327- University of California- Los Angeles

6)    $34,462- Pennsylvania State University- Dickinson

7)    $33,949- University of California- Davis

8)    $32,468- University of California- Hastings

9)    $28,203- University of Minnesota- Twin Cities

10) $27,177- University of Texas- Austin

Top 10 Most Expensive Private Law Schools

1)    $48,950- Cornell University

2)    $48,340- Yale University

3)    $48,004- Columbia University

4)    $47,472- Northwestern University

5)    $46,514- University of Pennsylvania

6)    $46,264- University of Southern California- Gould

7)    $45,271- Duke University

8)    $45,170- Yeshiva University- Cardozo

9)    $44,996- Fordham University

10) $44,856- Syracuse University

Top 10 Cheapest Public Law Schools

1)    $7,350- University of the District of Columbia- Clark

2)    $8,097- North Carolina Central University

3)    $9,036- Florida A&M University

4)    $9,350- University of Mississippi

5)    $9,461- University of North Dakota

6)    $9,966- University of Wyoming

7)    $10,612- CUNY- Queens College

8)    $10,620- University of Montana

9)    $10,644- West Virginia University

10) $10,695- University of South Dakota

Top 10 Cheapest Private Law Schools

1)    $9,980- Brigham Young University- Clark

2)    $24,490- Howard University

3)    $25,710- South Texas College of Law

4)    $26,300- Mississippi College

5)    $27,025- Appalachian School of Law

6)    $27,404- St. Mary’s University

7)    $28,600- Ohio Northern University- Pettit

8)    $29,040- University of Tulsa

9)    $29,680- Williamette University- Collins

10) $30,294- Creighton University