Posted May 03, 2012 10:30 am CDT
Updated: Students who borrow money to obtain a law degree are paying more money than recent reports suggest, according to Law School Transparency.
The group says the true cost of financing a law degree is about double recently published figures on law student debt, the National Law Journal reports. By Law School Transparency’s calculations, the average cost of law school will be about $195,000 for students who start school this year, and about $200,000 for students beginning law school next year.
The figures are based on the assumption that students will borrow the full tuition amount and, if they attend public schools, that they will pay out-of-state tuition levels. The figures also include interest and inflation.
The cheapest law school, according to the figures on projected debt, is the City University of New York, followed by the University of North Dakota, Southern University Law Center, and the University of South Dakota. [The group later revised its CUNY and overall figures, saying they were too low, according to the National Law Journal.]
The figures are part of a new comprehensive database of law school information developed by Law School Transparency, the National Law Journal reports in a separate story.
ABAJournal.com: “Legal Education Cost Is Even Higher than First Estimated, Transparency Group Says”
Updated on May 7 to include new coverage saying that Law School Transparency has revised its figures upward.