Tuition for an undergraduate education is already intimidating but according to Staci Zaretsky of Above The Law, tuition for law school is about to take your breath away.

In The Future, Law School Tuition Will Be Absolutely Terrifying

Despite calls for change from the highest of authorities, law school tuition is still too damn high. In fact, for most recent law school graduates (myself included), it’s financially crippling.

Sure, class sizes have gotten smaller — whether due to law schools’ attempts to rightsize or due to lack of interest from prospective students — but tuition hasn’t. Some schools have managed to keep it flat (albeit at too high of a level), but others have had the nerve to dramatically increase tuition in these trying times for legal education.

Given how resistant the old and gray occupants of the ivory tower are to change, perhaps some frightening predictions about the future of law school tuition will help them open their eyes. If you think you’re hurting for students to fill the seats now, just wait until it costs $78,000 a year to attend…

Matt Leichter over at The Law School Tuition Bubble recently projected private law school tuition costs for the years 2017 and 2022. Before we get to the scary figures, let’s check out Leichter’s methodology:

The biggest changes this year are a large increase in source data—last year I scoured the Web for older copies of the ABA-LSAC Official Guide to the ABA Law Schools (Official Guide) [dating back to 1999 instead of 2004]—and I’ve improved the projections methodology.

In previous years, I forecasted future costs via linear regression based on law schools’ previous prices. I chose this model because it offered the lowest average costs, but it proved woefully imprecise. This year, I’ve changed to using law schools’ average annual (numeric) growth rates because it is both more accurate and precise than the linear regression methodology [used last year].


 
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