The cost of attending law school is one of the most significant expenses a person will ever incur in their lifetime. Many students choose to finance their legal education with loans, but there are many alternatives. Choosing the right loan is an important decision that should be made with full awareness of the potential financial consequences.
It is impossible to determine the true cost of law school by simply comparing tuition rates alone. To make a more accurate comparison, you should add in annual living costs and other expenses such as books and supplies. In addition, it is important to consider annualized increases in tuition. Tuition at most schools typically increases by 4% each year.
MU’s law school offers a unique model to help mitigate the cost of a legal education. The Mizzou Law Thrifty Budget is designed to help students minimize the amount of debt they may need to take on to finance their legal education. The Thrifty Budget includes the cost of tuition, fees, and non-MU related living expenses such as meals, health insurance and transportation. The Thrifty Budget also includes the cost of the BarBri-designed California Bar Exam prep program and all necessary law school course texts.
Students who are considering law school should carefully review employment outcomes for recent graduates and the expected salaries in their legal specialty of interest. They should also explore alternative pathways to law practice if they are concerned about the likelihood of finding a job that will allow them to pay off their student loans in a timely manner. Law Tuition