The Costs of Law School

An important factor to consider is the economic cost associated with attending law school. Law school is a major financial investment.

Many potential law students fail to realize the importance of this factor, figuring they will somehow get by. This cavalier attitude toward the economic aspect of law school (or any graduate school for that matter) is a tremendous mistake. Unless you are independently wealthy or your parents are willing to pay for your law school education, costs are a highly significant (and often prohibitive) factor in selecting law schools. You simply do not want to be unduly worried about making ends meet throughout law school; obtaining a legal education is time-consuming and stressful enough in itself. You must be able to focus your energies while in law school on doing well without worrying about where your next rent check is coming from.


Begin your financial planning by considering whether your current savings or other available resources are sufficient to pay for your first year's tuition, books, food, housing, and living expenses at schools that interest you. If they are not, it is critical that you find out as early as possible what financial aid is available for each of the law schools you are considering attending. You should make this inquiry as early as possible because almost all financial aid programs have deadlines that must be met in order for you to be considered.

Additionally, many law school scholarships, which are available from or through individual law schools, must be applied for many months in advance of the start of the school year. For this reason, you should apply to the law schools you are interested in as early as possible. Each of your applications should include a request for information concerning financial aid from the school's admission office. Career guidance counselors at most colleges can also offer you valuable information about applying for financial aid for law school. Take advantage of their knowledge.

Cost considerations, while still important, are generally less of a concern during the second and third years of law school. This is because by then the options of well-paying legal jobs (full time in summer and part time during school) are more readily available than during the first year. However, a significant number of law schools are located in rural areas devoid of law firms and other legal employers needing law clerks. Thus, if the issue of finances concerns you, in addition to investigating the financial aid available, investigate what employment opportunities are available during the school year at the schools in question. Virtually all law schools have employment or placement offices staffed by full-time employees. These employees will normally be able to give you pertinent statistics concerning the availability of work during law school.

Finally, in evaluating a law school with respect to its costs, analyze the long-term costs and benefits. Consider not only the financial position attending that school will put you in for the next three years, but also the financial position it will put you in after you earn a degree and enter the legal marketplace. Compare the median starting salaries of graduates from the more expensive schools you are considering with those of graduates of the less expensive schools, along with the total expected debt from each. This comparison will give you an approximate idea of the relative financial benefits and burdens of attending each institution. Median and average starting salaries of graduates can be obtained from most law school employment or placement offices. You should also compare placement rates for graduates of the various schools while conducting this analysis.