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October 9, 2012
Projected 2021 Law School Tuition: $80,000
The Law School Tuition Bubble: Private Law School Tuition Projections for 2016, 2021, by Matt Leichter:
[H]ow does one project law school tuition? I just extended the linear regression of each law school’s tuition based on its Official Guide entries going back to 2004. The basis is that past tuition increases are a predictor of future ones. ... The only addition for this year is that I’m adding a column on the right side giving the “relative variance,” which is a measure of how (in)accurate the linear regression test was when comparing projected tuition to their 2011 outcomes. I think the lower the better, but anything below -3.0 percent or so is probably too low. The idea is to give readers a measure of how reliable the estimate is, given that some law school engaged in serious expansions in recent years that I hope they couldn’t get away with now, especially Faulkner University, which doubled its tuition in the span of a few years.
Here are the Top 35 (out of 120 law schools) ranked according to projected 2021-22 tuition:
| # | SCHOOL | TUITION: 2011-2012 | TUITION: 2016-2017 | TUITION: 2021-2022 | RELATIVE VARIANCE |
| 1. | Cornell | 53,226 | 66,800 | 79,800 | 1.7% |
| 2. | Yale | 52,525 | 64,600 | 76,300 | 1.1% |
| 3. | Columbia | 52,902 | 63,800 | 75,000 | -0.9% |
| 4. | Northwestern | 51,920 | 63,400 | 74,800 | 0.4% |
| 5. | Pennsylvania | 50,718 | 62,200 | 73,500 | 0.4% |
| 6. | New England | 40,984 | 57,300 | 72,300 | 5.1% |
| 7. | Seton Hall | 46,840 | 59,900 | 72,200 | 2.8% |
| 8. | Cardozo | 48,370 | 60,600 | 72,200 | 2.3% |
| 9. | Vermont | 43,993 | 58,400 | 72,000 | 3.2% |
| 10. | Duke | 49,617 | 60,500 | 71,400 | 0.2% |
| 11. | USC | 50,591 | 61,000 | 71,300 | 0.0% |
| 12. | Brooklyn | 48,441 | 60,000 | 71,200 | 1.0% |
| 13. | Fordham | 47,986 | 59,600 | 70,700 | 2.1% |
| 14. | St. John’s | 46,450 | 58,700 | 70,700 | 1.3% |
| 15. | Baylor | 43,573 | 57,000 | 70,200 | 0.7% |
| 16. | Stanford | 49,179 | 59,400 | 70,100 | -1.6% |
| 17. | Syracuse | 45,647 | 59,000 | 70,100 | 8.8% |
| 18. | NYU | 50,336 | 59,900 | 69,700 | -0.6% |
| 19. | Harvard | 48,786 | 59,100 | 69,400 | 0.2% |
| 20. | Vanderbilt | 46,148 | 58,200 | 68,900 | 5.2% |
| 21. | Touro | 41,890 | 55,600 | 67,900 | 5.7% |
| 22. | Faulkner | 32,187 | 51,300 | 67,800 | 17.1% |
| 23. | Chicago | 47,786 | 58,000 | 67,800 | 1.5% |
| 24. | Georgetown | 46,865 | 57,400 | 67,500 | 1.7% |
| 25. | Quinnipiac | 45,050 | 55,700 | 66,500 | -0.4% |
| 26. | Hofstra | 45,600 | 56,000 | 66,400 | 0.4% |
| 27. | Wash. & Lee | 41,947 | 54,200 | 65,900 | 2.6% |
| 28. | American | 45,096 | 55,500 | 65,700 | 0.9% |
| 29. | G. Washington |
45,750 | 55,300 | 64,800 | 0.2% |
| 30. | Washington U. |
46,042 | 55,200 | 64,500 | -0.2% |
| 31. | New York L.S. | 47,800 | 56,000 | 63,900 | 1.0% |
| 32. | Loyola-L.A. | 43,060 | 53,800 | 63,700 | 3.0% |
| 33. | Tulane | 43,684 | 53,800 | 63,400 | 1.6% |
| 34. | Cal-Western | 42,700 | 52,500 | 62,500 | -0.5% |
| 35. | DePaul | 41,690 | 52,100 | 62,500 | -0.2% |
October 9, 2012 in Legal Education | Permalink
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Comments
Holy cow this is scary.
At prices like this, it's cheaper to go get a law degree overseas and then get an LLM to meet Bar requirements. Are folks thinking to send students away, or is the elasticity of demand that strong for a JD?
Posted by: Nemo | Oct 10, 2012 7:52:40 AM
$240,000 to "think" like a lawyer. Wow. Used to be folks could learn how to be jerks to one another for free.
Posted by: DCW | Oct 11, 2012 1:19:52 PM




