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Wednesday, November 23, 2011

Law Student Debt Grew $475 Million in 2008-2010

American Lawyer, Law School Debt Bubble: Aggregate Law School Grad Debt Grew $475 Million Between 2008 and 2010:

Year
Ave. Law
Grad Debt
Ave. Law School
Debt-Revenue
Mean
Deviation
Total Law School
Debt-Revenue
2008 $87,761 $16.1m
$8.3m
$3,147.1m
2009 $91,606 $17.2m
$8.8m
$3,371.4m
2010 $97,310 $18.5m
$9.5m
$3,620.8m
Growth Rate +10.9% (+$9,549) +14.9% (+$2.4m) N/A +15.1% (+$473.7m)

 

#Public School
2010 Grad Debt-Revenue
Z-Score
1 UC-Hastings 35.6m
 4.02
2 Michigan 35.4m
 3.99
3 Virginia 34.6m
3.84
4 Indiana-Indianapolis 31.5m
3.32
5 UCLA 28.2m
2.75
6 Baltimore 26.3m
2.43
7 Texas 24.0m
2.04
8 UC-Berkeley 22.8m
1.83
9 Temple 20.9m
1.50
10 Indiana-Bloomington 20.7m
1.47
11 Minnesota 20.5m
1.43
12 Penn State 19.6m
1.29
13 Maryland 19.0m
1.19
14 George Mason 18.8m
1.16
15 Florida 18.8m
1.15
16 Rutgers-Newark 17.5m
0.92
17 Wisconsin 16.7m
0.79
18 Oregon 15.5m
0.59
19 N. Carolina Central 15.4m
0.58
20 Houston 15.3m
0.56

 

#Private School2010 Grad Debt-RevenueZ-Score
1 Cooley 87.6m
6.33
2 Georgetown 67.9m
4.41
3 Harvard 58.2m
3.46
4 American 53.5m
3.00
5 New York University 49.6m
2.62
6 New York Law School 48.6m
2.52
7 Florida Coastal 47.4m
2.41
8 Suffolk 47.0m
2.36
9 George Washington 44.9m
2.16
10  Loyola-L.A. 43.8m
2.05
11 Fordham  43.7m
2.04
12 Columbia 42.2m
1.90
13 Brooklyn 38.0m
1.48
14 McGeorge 36.6m
1.35
15 Stetson 36.2m
1.30
16 Miami 35.9m
1.27
17 John Marshall 35.8m
1.27
18 South Texas 35.7m
1.26
19 Catholic 34.6m
1.15
20 Cardozo 34.4m
1.13

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Comments

It's an excellent idea to start focusing on how much of a law-school's income is generated by the loan-taking of its own students.

Law schools themselves are bubbles blown up bigger and bigger by student debt--which they encourage the students to take on. Without the student debt, the law schools just go 'pop!' I think the administrations of some of these schools themselves have not been clear on what they were doing. That should change.

Posted by: lowellguy | Nov 24, 2011 8:21:16 AM