Law School Costs
Law students borrow from the U.S. Department of Education Direct Loan Program for school. These loans are income-generating assets for the government. The government is investing in not only law students, who will repay loans (in theory) with interest, but also law schools. Some (or many) law schools would close without federal investment because schools depend on tuition revenue to stay open and students depend on federal student loans to pay tuition and cover living expenses. Federal student loan policy dictates that the government will lend the full cost of attendance to anyone who attends an ABA-approved law school. If the government changes this lending policy, for example by limiting or eliminating Graduate Plus loans, private lenders may fill some of the lending market, though presumably not all of it.
The size of the federal investment has declined substantially in recent years—by more than $1.1 billion between 2013 and 2016 and an additional $350 million in 2017 alone. This is a function of falling demand for law school, rather than a change in federal student loan policy.
Tip On the left panelAt the top of the page, you can change the data scope to view federal investment from different angles.
2022 Graduates
| Type | Schools Accounted For | Average Borrowed/Student(% of all grads borrowing) | Known Federal Investment | Adjusted Federal Investment |
|---|---|---|---|---|
| Private (Non-Profit) | 101/101 (99%) | $135,272 (71.5%) | $2,028,532,680 | $2,028,532,680 |
| Public School | 81/81 (98.8%) | $93,643 (70.5%) | $880,148,889 | $880,148,889 |
| Private (For Profit) | 2/2 (100%) | $127,562 (80.6%) | $22,195,744 | $22,195,744 |
| All Types | 184/184 (100%) | $119,292 (71.2%) | $2,930,877,313 | $2,930,877,313 |
Excluded Schools (included in adjusted figures):
2021 Graduates
| Type | Schools Accounted For | Average Borrowed/Student(% of all grads borrowing) | Known Federal Investment | Adjusted Federal Investment |
|---|---|---|---|---|
| Private (Non-Profit) | 94/94 (98.9%) | $136,301 (71.1%) | $1,900,719,390 | $1,900,719,390 |
| Public School | 79/79 (98.8%) | $94,051 (70.2%) | $859,999,554 | $859,999,554 |
| Private (For Profit) | 1/1 (100%) | $131,869 (81.2%) | $19,912,219 | $19,912,219 |
| All Types | 174/174 (100%) | $119,649 (70.8%) | $2,780,631,163 | $2,780,631,163 |
Excluded Schools (included in adjusted figures):
2020 Graduates
| Type | Schools Accounted For | Average Borrowed/Student(% of all grads borrowing) | Known Federal Investment | Adjusted Federal Investment |
|---|---|---|---|---|
| Private (Non-Profit) | 98/104 (94.2%) | $133,930 (72%) | $1,856,007,731 | $1,951,728,915 |
| Public School | 82/85 (96.5%) | $93,240 (71.8%) | $844,945,050 | $876,863,858 |
| Private (For Profit) | 3/4 (75%) | $134,487 (85.3%) | $42,229,017 | $55,884,596 |
| All Types | 183/193 (94.8%) | $118,068 (72%) | $2,743,181,798 | $2,884,477,369 |
Excluded Schools (included in adjusted figures): Appalachian School of Law (Private, 52 grads), Barry University (Private, 183 grads), John Marshall Law School - Atlanta (For Profit, 119 grads), New England School of Law (Private, 153 grads), North Carolina Central University (Public, 118 grads), Southern University Law Center (Public, 150 grads), Texas Southern University (Public, 209 grads), Touro College (Private, 134 grads), Western Michigan University - Cooley Law School (Private, 317 grads), Widener University - Delaware (Private, 154 grads)
2019 Graduates
| Type | Schools Accounted For | Average Borrowed/Student(% of all grads borrowing) | Known Federal Investment | Adjusted Federal Investment |
|---|---|---|---|---|
| Private (Non-Profit) | 95/95 (99%) | $133,423 (72.3%) | $1,776,658,884 | $1,776,658,884 |
| Public School | 76/76 (98.7%) | $93,436 (73.3%) | $785,332,351 | $785,332,351 |
| Private (For Profit) | 3/3 (100%) | $131,835 (88.5%) | $43,769,291 | $43,769,291 |
| All Types | 174/174 (100%) | $118,159 (72.9%) | $2,605,760,526 | $2,605,760,526 |
Excluded Schools (included in adjusted figures):
2018 Graduates
| Type | Schools Accounted For | Average Borrowed/Student(% of all grads borrowing) | Known Federal Investment | Adjusted Federal Investment |
|---|---|---|---|---|
| Private (Non-Profit) | 101/101 (99%) | $131,099 (74.8%) | $1,860,956,008 | $1,860,956,008 |
| Public School | 82/82 (98.8%) | $91,775 (75%) | $869,112,840 | $869,112,840 |
| Private (For Profit) | 3/3 (100%) | $123,518 (87.6%) | $42,860,849 | $42,860,849 |
| All Types | 186/186 (100%) | $115,481 (75%) | $2,772,929,697 | $2,772,929,697 |
Excluded Schools (included in adjusted figures):
2017 Graduates
| Type | Schools Accounted For | Average Borrowed/Student(% of all grads borrowing) | Known Federal Investment | Adjusted Federal Investment |
|---|---|---|---|---|
| Private (Non-Profit) | 98/98 (99%) | $130,101 (74.7%) | $1,824,149,991 | $1,824,149,991 |
| Public School | 81/81 (98.8%) | $94,534 (76.5%) | $903,078,620 | $903,078,620 |
| Private (For Profit) | 2/2 (100%) | $122,926 (85.8%) | $19,299,305 | $19,299,305 |
| All Types | 181/181 (100%) | $115,736 (75.5%) | $2,746,527,916 | $2,746,527,916 |
Excluded Schools (included in adjusted figures):
2016 Graduates
| Type | Schools Accounted For | Average Borrowed/Student(% of all grads borrowing) | Known Federal Investment | Adjusted Federal Investment |
|---|---|---|---|---|
| Private (Non-Profit) | 97/99 (98%) | $134,700 (75.7%) | $1,999,075,900 | $2,020,501,129 |
| Public School | 81/84 (96.4%) | $97,476 (77.2%) | $987,728,321 | $1,030,944,729 |
| Private (For Profit) | 3/3 (100%) | $145,419 (74.4%) | $57,440,373 | $57,440,373 |
| All Types | 181/186 (97.3%) | $119,999 (76.3%) | $3,044,244,594 | $3,108,886,231 |
Excluded Schools (included in adjusted figures): Faulkner University (Private, 74 grads), Florida A&M University (Public, 120 grads), Howard University (Private, 136 grads), Northern Kentucky University (Public, 120 grads), Rutgers University (Public, 334 grads)
2015 Graduates
| Type | Schools Accounted For | Average Borrowed/Student(% of all grads borrowing) | Known Federal Investment | Adjusted Federal Investment |
|---|---|---|---|---|
| Private (Non-Profit) | 97/110 (88.2%) | $133,063 (77.2%) | $2,136,329,691 | $2,392,570,072 |
| Public School | 83/86 (96.5%) | $98,085 (77%) | $1,083,058,754 | $1,117,633,293 |
| Private (For Profit) | 3/6 (50%) | $153,509 (82.8%) | $81,973,906 | $197,118,648 |
| All Types | 183/202 (90.6%) | $119,480 (77.2%) | $3,301,362,351 | $3,707,322,013 |
Excluded Schools (included in adjusted figures): Appalachian School of Law (Private, 60 grads), Arizona Summit Law School (For Profit, 334 grads), Charlotte School of Law (For Profit, 456 grads), Concordia University School of Law (Private, 12 grads), Faulkner University (Private, 95 grads), Florida A&M University (Public, 147 grads), Howard University (Private, 116 grads), Inter American University (Private, 198 grads), John Marshall Law School - Atlanta (For Profit, 116 grads), New England School of Law (Private, 334 grads), Pontifical Catholic University of Puerto Rico (Private, 199 grads), Southwestern Law School (Private, 311 grads), St. Thomas University - Florida (Private, 165 grads), Texas Southern University (Public, 147 grads), Touro College (Private, 187 grads), University of La Verne (Private, 39 grads), University of Puerto Rico (Public, 164 grads), Western Michigan University - Cooley Law School (Private, 688 grads), Western New England University School of Law (Private, 90 grads)
2014 Graduates
| Type | Schools Accounted For | Average Borrowed/Student(% of all grads borrowing) | Known Federal Investment | Adjusted Federal Investment |
|---|---|---|---|---|
| Private (Non-Profit) | 101/107 (94.4%) | $131,273 (82.1%) | $2,551,823,120 | $2,663,010,853 |
| Public School | 80/83 (96.4%) | $95,794 (81.2%) | $1,165,332,620 | $1,210,051,404 |
| Private (For Profit) | 4/6 (66.7%) | $147,877 (91.2%) | $168,284,141 | $237,863,161 |
| All Types | 185/196 (94.4%) | $118,668 (82%) | $3,885,439,881 | $4,110,925,418 |
Excluded Schools (included in adjusted figures): Appalachian School of Law (Private, 95 grads), Arizona Summit Law School (For Profit, 326 grads), Belmont University (Private, 119 grads), Faulkner University (Private, 83 grads), Florida A&M University (Public, 174 grads), Inter American University (Private, 216 grads), John Marshall Law School - Atlanta (For Profit, 190 grads), New England School of Law (Private, 299 grads), Pontifical Catholic University of Puerto Rico (Private, 220 grads), Rutgers State University - Camden (Public, 296 grads), Southern Illinois University (Public, 105 grads)
2013 Graduates
| Type | Schools Accounted For | Average Borrowed/Student(% of all grads borrowing) | Known Federal Investment | Adjusted Federal Investment |
|---|---|---|---|---|
| Private (Non-Profit) | 96/107 (89.7%) | $128,409 (82.8%) | $2,613,503,642 | $2,955,449,440 |
| Public School | 81/86 (94.2%) | $94,141 (82.1%) | $1,226,941,758 | $1,299,055,697 |
| Private (For Profit) | 4/6 (66.7%) | $142,056 (91.7%) | $164,075,236 | $230,877,296 |
| All Types | 181/199 (91%) | $115,935 (82.8%) | $4,004,520,636 | $4,485,382,433 |
Excluded Schools (included in adjusted figures): Appalachian School of Law (Private, 88 grads), Arizona Summit Law School (For Profit, 279 grads), Campbell University (Private, 135 grads), Cornell University (Private, 193 grads), Florida A&M University (Public, 221 grads), Inter American University (Private, 223 grads), John Marshall Law School - Atlanta (For Profit, 234 grads), Loyola University New Orleans (Private, 256 grads), Pontifical Catholic University of Puerto Rico (Private, 240 grads), Rutgers State University - Camden (Public, 276 grads), Santa Clara University (Private, 322 grads), Southwestern Law School (Private, 300 grads), Texas Southern University (Public, 159 grads), Touro College (Private, 230 grads), University of La Verne (Private, 86 grads), University of Puerto Rico (Public, 197 grads), University of The District of Columbia (Public, 80 grads), Western Michigan University - Cooley Law School (Private, 1143 grads)
2012 Graduates
| Type | Schools Accounted For | Average Borrowed/Student(% of all grads borrowing) | Known Federal Investment | Adjusted Federal Investment |
|---|---|---|---|---|
| Private (Non-Profit) | 104/107 (97.2%) | $125,866 (84%) | $2,879,307,032 | $2,948,156,578 |
| Public School | 81/85 (95.3%) | $91,514 (83.8%) | $1,221,531,794 | $1,279,046,318 |
| Private (For Profit) | 6/6 (100%) | $138,664 (91.1%) | $178,599,143 | $178,599,143 |
| All Types | 191/198 (96.5%) | $114,082 (84.2%) | $4,279,437,969 | $4,405,802,039 |
Excluded Schools (included in adjusted figures): Barry University (Private, 200 grads), Florida A&M University (Public, 160 grads), Indiana University - Indianapolis (Public, 295 grads), Inter American University (Private, 234 grads), Pontifical Catholic University of Puerto Rico (Private, 217 grads), University of Puerto Rico (Public, 202 grads), University of The District of Columbia (Public, 93 grads)
2011 Graduates
| Type | Schools Accounted For | Average Borrowed/Student(% of all grads borrowing) | Known Federal Investment | Adjusted Federal Investment |
|---|---|---|---|---|
| Private (Non-Profit) | 103/107 (96.3%) | $120,377 (84.6%) | $2,653,704,415 | $2,719,991,023 |
| Public School | 81/85 (95.3%) | $85,760 (85.4%) | $1,146,950,700 | $1,192,711,580 |
| Private (For Profit) | 6/6 (100%) | $129,851 (90%) | $127,902,773 | $127,902,773 |
| All Types | 190/198 (96%) | $107,916 (85%) | $3,928,557,888 | $4,040,605,376 |
Excluded Schools (included in adjusted figures): Appalachian School of Law (Private, 91 grads), Indiana University - Indianapolis (Public, 252 grads), Inter American University (Private, 248 grads), Pontifical Catholic University of Puerto Rico (Private, 196 grads), University of La Verne (Private, 116 grads), University of Massachusetts Dartmouth (Public, 51 grads), University of Puerto Rico (Public, 244 grads), University of The District of Columbia (Public, 78 grads)
2010 Graduates
| Type | Schools Accounted For | Average Borrowed/Student(% of all grads borrowing) | Known Federal Investment | Adjusted Federal Investment |
|---|---|---|---|---|
| Private (Non-Profit) | 105/109 (96.3%) | $112,080 (84.7%) | $2,447,048,220 | $2,513,377,005 |
| Public School | 81/84 (96.4%) | $79,616 (83.6%) | $1,038,114,805 | $1,079,993,603 |
| Private (For Profit) | 5/6 (83.3%) | $120,154 (89%) | $100,688,972 | $108,064,279 |
| All Types | 191/199 (96%) | $100,416 (84.4%) | $3,585,851,997 | $3,701,434,887 |
Excluded Schools (included in adjusted figures): Appalachian School of Law (Private, 108 grads), Arizona Summit Law School (For Profit, 69 grads), Florida International University (Public, 151 grads), Harvard University (Private, 589 grads), Indiana University - Indianapolis (Public, 299 grads), Inter American University (Private, 1 grads), Pontifical Catholic University of Puerto Rico (Private, 1 grads), University of Puerto Rico (Public, 179 grads)
About the data
School-specific borrowing data come from U.S. News & World Report, which relies on data reported to U.S. News by law schools. In a few cases over the years, law schools did not report the percentage borrowing properly. When that occurs, the previous year's rate is used unless a school reports the correct rate to LST or a better estimate can be generated. Graduate data come from the American Bar Association.
To calculate the amount cumulatively borrowed by law school graduates from a law school, LST multiplied the number of graduates times the percentage of those graduates borrowing loans that were processed by the school. LST rounded that number to the nearest whole graduate and multiplied it times the average amount borrowed for that school. The federal government investment figures do not include students who never graduated and those enrolled in non-J.D. programs. The adjusted federal investment figures apply group averages to the schools with unknown borrowing data. LST uses weighted averages rather than normal averages for the group and nationwide averages.
Note The "amount borrowed" does not include interest that accumulates during law school, thus is different than the "amount owed" or "debt."