Blogger's Calculations Show Cooley Law School Benefits Most from Student Debt
Corrected: The Thomas M. Cooley Law School earned more money than any other law school from student debt last year, according to a blogger’s calculations.
The Law School Tuition Bubble blog calculated the amount of revenue that law schools receive from student debt and then ranked the schools that earn the most. The Am Law Daily reprinted the blog post.
The blog used information from U.S. News & World Report and Law School Transparency, then filled in the gaps with assumptions about schools with missing numbers. Then the blog ranked the top private and public schools by debt revenue. “The list of top 20 public law schools by graduate debt-revenue doesn’t contain too many surprises, but for private law schools, it’s an interesting mix of expensive, prestigious law schools and less expensive ones that have very large enrollments,” the blog says.
The average public law school gained $12.1 million in debt from 2010 grads, while the average private school earned $22.8 million. According to the blog, the top five private schools for debt revenue in 2010 are:
1) Cooley, with $87.6 million in debt revenue.
2) Georgetown, with $67.9 million in debt revenue.
3) Harvard, with $58.2 million in debt revenue (calculation was based on an estimate).
4) American, with $53.5 million in debt revenue.
5) New York University, with $49.6 million in debt revenue.
The public school earning the most in student debt revenue was the University of California at Hastings, the blog found.
Corrected at 4:21 p.m. to state that Hastings is a public school.