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Saturday, March 31, 2012

Did Law Schools Underreport Student Debt?

Following up on my prior post, Law School Rankings by Debt Load Per Graduating Student:  ABA Journal, Law Schools Asked to Double Check: Did They Give ABA Low Numbers on Student Debt?:

Law schools are being asked to double check figures on average student debt submitted to the ABA after some school officials raised concerns that they may have underreported the figure.

The problem came to light after U.S. News & World Report published lists of schools this week with the highest and lowest average student debt. U.S. News asks law schools to provide the same debt numbers given to the ABA Section of Legal Education and Admissions to the Bar, which accredits law schools.

Scott Norberg, deputy consultant on legal education for the ABA, says he heard from three or four law schools that suspected they were incorrectly listed among schools with the least amount of student debt. ... According to Norberg’s memo, emailed to law schools this morning, law schools were supposed to provide the ABA figures on total law school debt for 2010-2011 graduates. Some schools, however, apparently provided instead debt incurred by graduating students for the single 2010-11 school year. ...

ABAJournal.com published information on average student debt based on ABA figures and U.S. News in a story earlier this week. In that story, average student debt was listed at $125,000 for graduates of private law schools last year. The average would be higher if schools have underreported average debt.

http://taxprof.typepad.com/taxprof_blog/2012/03/did-law-schools.html

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Comments

All the advantages are to those who keep the real and horrifying facts of law school debt hidden.

Whenever there are "mistakes" made in reporting law school debt, it's best assume that all the mistakes will result in lower debt numbers. The real debt numbers are nightmarish, and if they were known, the law school industry would implode like a soap bubble popping.

Posted by: Lowellguy | Apr 1, 2012 4:24:36 AM

H.R. 4170 Student Loan Forgiveness Act of 2012

Posted by: Anonomous | Apr 6, 2012 11:02:42 PM