If you’re considering going to law school, you’re probably wondering how much it’s going to cost. The answer isn’t as simple as you might think. Tuition at different schools can vary widely, and there are a lot of other factors that can affect the total cost of your degree. In this blog post, we’ll break down some of the major expenses you’ll incur while attending law school so that you can get a better idea of what you’ll need to budget for.
Tuition
The biggest expense you’ll have while attending law school is tuition. Tuition rates can vary quite a bit from school to school, so it’s important to do your research and choose a school that fits your budget. According to U.S. News & World Report, the average cost of tuition at a private law school is $53,000 per year, while the average cost of tuition at a public law school is $30,000 per year for in-state students and $43,000 per year for out-of-state students.1 Of course, these are just averages—you can find schools that cost significantly more or less than these amounts.
Room and Board
If you don’t live close enough to campus to commute, you’ll need to factor in the cost of room and board into your budget. According to U.S. News & World Report, the average cost of room and board at a private law school is $15,000 per year, while the average cost of room and board at a public law school is $11,000 per year for in-state students and $12,000 per year for out-of-state students. Again, these are just averages—your actual costs may be higher or lower depending on the specific school you attend and the type of housing you choose.
Books and Supplies
Another expense you’ll need to account for is the cost of books and supplies. This can be a significant expense—especially if you’re attending a school with high course fees. According to The American Bar Association (ABA), the average cost of books and supplies for one year of law school is $1,220.3 Of course, this number will vary depending on how many courses you take and whether or not you’re able to find used textbooks or other ways to save money on your books and supplies.
Other Expenses
There are a few other miscellaneous expenses that you may need to account for as well—such as transportation costs if you don’t live close to campus or child care expenses if you have children at home. Additionally, many students choose to work part-time during their time in law school. If you decide to do this, you’ll need to factor in the cost of transportation To and from your job as well as any lost earnings from working fewer hours than you would if you weren’t attending school.
As with all things related to finances, it’s important to sit down and make a budget before starting law school so that you have an accurate picture of what your expenses will be and can plan accordingly. By taking the time to do this ahead of time, you can avoid being blindsided by unexpected expenses later on down the road.
As with any major purchase decision, it’s important do your research before making the commitment to attend law school—and that includes figuring out how much it’s going t costs. The good news is that there are lots of resources available (like this blog post!) that can help give prospective students a better idea of what their costs will be so that they can make an informed decision about whether or not attending law school is right for them.
