Saturday, August 24, 2013

Cutting Law School by 1 Year Could Worsen Law Grads' Finances

(Note: I admit, this post really has nothing to do with technology.  But it might still be interesting to anyone with an interest in education, or graduate school.)

In comments that most non-lawyers probably glossed over, President Obama commented today that "law schools would probably be wise to think about being two years instead of three."

Obama made the comments during a pro-student tour in which the President is taking aim at the high and continually rising costs of education.  The logic seems sound -- if a legal education costs $70,000 per year (accounting for inflation and interest), then two years in law school costs $70,000 less than three years. If you then assume that these hypothetical students could work during what would be their third year of law school, this puts the students $100,000 or more ahead of where they would be.

Anecdotally, this proposal seems to be extremely popular, with lawyers and law students on various social networks decrying the uselessness of the third year of law school.  (A popular follow-on proposal is "add an optional third year" or "get an LL.M. if you disagree".)  Indeed, Obama himself was a law professor, and other law professors have made this proposal before.

Surely, it can't be that easy.