What Does Law School Cost?

Any way you slice it, law school is expensive.  But it is an investment.  When you invest in real estate or the stock market, you are putting in your money and hoping that in time you will get back something of greater value than what you initially put in.  When you attend law school you are investing in your own future.  You give up three years of your life, three years of not working full time, three years of paying tuition.  And at the end of all that, you have earned a degree that will open many career doors, often leading to lucrative salaries and incredibly rewarding work.

When you are looking at law schools you will want to consider the Cost of Attendance (COA).  This is something the financial aid office at every school will put together as an example of what it costs to attend that school for one academic year (this does not include periods of non-enrollment such as semester breaks or summers when you are not taking classes). The cost of attendance will include will include tuition and fees, books and supplies, housing and food, transportation, and other miscellaneous expenses necessary to your educational experience.  Most people think about the cost of tuition and fees varying widely from school to school.  But not everyone stops to think about comparing living expenses from school to school—and these expenses can vary wildly when you are comparing costs in a high-cost city such as New York or San Francisco to a lower cost area in a small town in America’s heartland.

But the real cost of law school per year is not just about the cost of attendance as defined by the school.  The COA is a good starting guide.  But everything included in the COA other than tuition and fees has some wiggle room.  You control how much you spend on housing and food.  You control whether you buy new books or used.  You control whether you operate a car or take the bus. You can choose to spend more or spend less than the COA.

When it comes time to really compare costs from school to school, you will want to calculate your net costs for each school.  Start with the total cost of attendance at each school you are considering.  Subtract from that any grants and scholarships that have been awarded to you from that school.  What you are left with is your net cost.  That net cost is your bottom line.  That is how much you will have to provide from savings, family resources, work, or student loans.  That is your true cost per year.  It’s entirely possible that a school offering a full-tuition scholarship in a high-cost city could end up costing more than a state school in a smallish town that offers no scholarship at all.  That’s why it is important to consider all of the costs of education when you are comparing the price tags on law schools.

So what does law school cost?  There is no one answer.  The costs will vary not only from school to school, but also from person to person.  But with some research and careful thought, you can find the answer that works for you.