https://law.stanford.edu/apply/tuition-financial-aid/cost-of-attendance/
Tuition: As you can see, full-time law students at Leland $tanford Junior Univer$ity will be charged $58,041 in tuition – for the 2017-2018 academic year. I realize that the school touts its financial aid program, however that is a ridiculously steep cost for anyone who does not come from a wealthy family.
Estimated Cost of Attendance: According to this same page, the world-renowned school lists an approximated room and board figure for those living in university housing. They also refer to a variance in other items. Apparently, they are too good to provide a more detailed budget for their students. To wit:
“For single students, room and board in university residences costs approximately $24,594 for the 2017-18 school year. Required books, if purchased new, cost about $1,530 a year. Local costs for transportation, clothing, recreation, and the like tend to vary. Most single students find they need to budget a total of at least $92,622 for the school year.” [Emphasis mine]
The areas delineated add up to $84,165. Deducting that from the estimated COA, everything else – from Netflix to auto repairs and health insurance – will amount to roughly $8,457. In the San Franciso area, of all places. Perhaps, the administrators here just assumed that all pupils will still be on their parents’ Cadillac health plan. Otherwise, it seems that these areas are low-balled. But I will be fair to this school anyway.
Seeing that actual, breathing, living law students require expenses for the full year, and not just for nine months, I will prorate the non-direct items. Doing so, we reach the following, more accurate total COA of $103,639– for full-time, single students at $tanford Law School. Again, this is for a single, solitary year of a program that takes six semesters. If that figure doesn’t make you faint, then I extend my congratulations to you – for having the foresight, i.e. sheer luck, to come out of the right birth canal.
https://www.usnews.com/best-graduate-schools/top-law-schools/law-rankings
Ranking: $tanford Law $chool is rated as the 2nd best law school in the country, by US “News” & World Report. This honor used to belong to Harvard Law $chool, but it seems that Harvard’s huge first year law class sizes have hurt their overall reputation. While the cost of admission is outrageous, keep in mind that it is a full 10 spots better than the next best school in northern California, i.e. UC Berkeley $chool of Law. That makes a significance difference when it comes to Biglaw placement and landing article III clerkships.
https://www-cdn.law.stanford.edu/wp-content/uploads/2015/05/Class-of-2016-FINAL-ABA-Stats.pdf
Employment Placement Statistics: Let’s peruse the school’s Class of 2016 Employment Summary Report. You will notice that there were 183 members of this cohort. Of that figure, a total of 176 were reportedly in full-time positions –within 10 months of earning their law degrees. That is an effective placement rate of 96.2 percent.
Then again, four graduates were in posts provided by the law school or university.While this is not a large number, in a small class size it has an impact. In this case, the employment placement rate would be 94.0%, without those four jobs. Remember when third tier commodes and second tier sewage pits were proclaiming – on their websites and recruiting materials – that 97.9 percent of their alums were employed within nine months of earning their JDs?
Head down to Employment Type. Fully 96 members of this class were in private law practice. Of that amount, five grads were in law firms of 101-250 attorneys, 11 more reported landed jobs in offices of 251-500 lawyers, and 76 JDs were employed in firms of more than 500 attorneys. Not bad, huh? Furthermore, 45 members of this class acquired coveted federal clerkships. This is what awaits those who attend real law schools.
https://www.usnews.com/best-graduate-schools/top-law-schools/grad-debt-rankings/page+2
Average Law Student Indebtedness:US “News” lists the average law student indebtedness - for those members of the $tanford JD Class of 2016 who incurred debt for law school - as $137,625. By the way, only 75% of this school’s 2016 graduating cohort took on such astounding debt. Don’t forget that this amount does not include debt from undergrad, and it also doesn’t consider accrued interest, while you are enrolled in school. See how quickly your debt load increases, when you are not making any payments. Of course, this is not a concern for a large portion of the class.
On a positive note, while Stanford is ranked 2nd best in terms of overall quality, it features the 43rd highest amount of average law student debt. That means that this must be one hell of a bargain for the student. Plus, fully one-quarter of the last graduating class did not take out a single dime in non-dischargeable debt for a law degree from a real school! The world is their expensive oyster.
Conclusion: Stanford Law School appears to be a safe bet for most of the students who are enrolled in that institution. While the vast majority of law students in the United States are taking a stupid gamble to calculated risk, these young men and women are simply biding their time – until they can earn big dollars in academia, Biglaw, or in private industry. The cost of admission is immense, but it seems to be worth the price tag. Plus, if you come from established money, you can get the degree at no cost.
Keep in mind that TTTTs are now charging $45K+ in annual tuition – and they provide their graduates with garbage employment prospects. And for comparison purposes among other comparatively strong in$titution$, look at the employment placement data for 12th ranked UC Berkeley SOL, right down the road from this law school. You will notice a meaningful difference in how their grads are viewed by Biglaw and federal court$. That should be informative for prospective law students.