Group says going to law school could cost over $200k

According to the nonprofit Law School Transparency, it’s going to cost law students entering school now nearly $200,000 – and maybe more – to go to a law school in Indiana.

LST took the price of tuition and cost of living for the 2011-2012 school year and projected costs for the classes of 2015 and 2016. It took into account inflation and interest accrued, but did not factor in that some students will receive scholarships or not borrow the entire amount to subsidize tuition and expenses. LST also notes that roughly 50 percent of students have paid non-discounted rates in recent years.

The numbers are quite intimidating. Using in-state tuition rates, those graduating from either of the Indiana University law schools in 2015 or 2016 will pay between $160,000 and $168,000 when factoring in living costs; out-of-state students will rack up $228,000 to $244,000 in debt, depending on the school and year you attend.

Tuition to attend the Bloomington law school this year is around $28,000 for in-state and around $45,000 for out-of-state; in Indianapolis, it’s nearly $23,000 for in-state students and more than $43,000 for out-of-state students.

One assumes you’re going to rack up a lot of debt to go to law school, but staring at your student loan statement – especially when you first graduate – may make you wonder if you made the right decision. Let’s hope the economy has picked up by then.

Attending one of the two private schools in Indiana will set you back at least $180,000. Students who graduate from Valparaiso University Law School will rack up costs between $180,000 and $185,000; it will cost Notre Dame Law School grads anywhere from $201,000 to $207,000.

Right now, tuition is $43,000 to attend NDLS; law students at Valpo paid $38,000 this year.

In case you’re wondering, the University of California – Berkley is projected to be the most expensive place to attend law school if you’re paying the out-of-state rate. LST estimates it will be nearly $275,000 for a 2015 law grad; those graduating a year later will pay more than $280,000 to go to that school. If you’re looking for a bargain, try City University of New York – you won’t pay more than $100,000 to attend even if you’re not a New York resident.

You can take a look at how law schools compare and the methods used to calculate these numbers on LST’s website. The site also includes comparisons of the law schools’ information on employment and jobs.