A recent column by Atlanta Journal-Constitution writer Maureen Downey about whether law was still a smart career choice outlines sobering realities about legal education: It’s become too expensive and no longer offers a positive return on investment.
Six figures of debt represent the median, and some of the nation’s most “prestigious” law schools report annual costs of attendance in excess of $100,000. (UGA School of Law estimates the cost of attendance this year for a Georgia resident is $36,964.) As many law schools struggle to tackle this mountain of student debt, entrepreneurial ones are undertaking novel efforts to make a legal education more affordable and attractive.
These efforts aim to lower the barriers to a legal education, to reduce long-term financial strain on graduates and to ensure another generation of lawyer/leaders positioned to have a positive impact on society.
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Scholarships offer one of the most effective ways to reduce student debt. Law schools are increasing merit-based and need-based scholarships through redoubled fundraising efforts. These scholarships alleviate costs for both incoming and enrolled students, opening doorways for those who would otherwise be deterred from applying.
Financial literacy programs offer another option. Law schools incorporating these programs emphasize the efficient management of personal finances and informed decision making in borrowing. Resources about loan repayment options, interest rates and minimizing debt accumulation help students make informed decisions about their finances in their pursuit of legal education.
Loan forgiveness represents a third strategy. To limit “career predetermination” created by student debt, law schools are encouraging and implementing loan forgiveness for those hoping to pursue a public interest or government career. Rather than being forced on a lucrative path to repay debt, students can expand their horizons in exploring underserved areas of law.
A robust network of students and alumni plays an integral role. Alumni and their associations provide vital funding to schools, directly covering student debt and helping the next generation of lawyers. In turn, these appreciative students become the supportive alumni of the future.
Further, efforts by the law school to form relationships between rising students and legal placements increases the opportunities for internships, externships and clerkships. Law schools that engage in relationship building between their student body and those that can help them such as alumni and career services benefit from a financially prepared and interconnected class of graduates.
In short, efforts to reduce student debt are multifaceted, requiring collaboration among law schools, policymakers, alumni and the entire legal community.
The University of Georgia School of Law, the state’s flagship law school, offers a model for these national debates. Aggregate borrowing has dropped more than 50% over the past decade. At the same time, last year, more than half the school’s law students did not borrow a penny, a significant improvement from the preceding decade.
These commitments do not abandon the school’s mission to accessibility: Programs like the First Start Scholars Program and the Butler Commitment ensure financial assistance to every first-generation college graduate and veteran who accepts an offer of admission.
We also offer the Distinguished Law Fellows at UGA Law, which provides some of the brightest students at the law school full tuition and professional development stipends – in addition to opportunities throughout the year to meet with some of the country’s top legal, business and government leaders.
These efforts represent just one example of the commitment of legal educators to ensuring that a legal education remains financially feasible and attractive to future generations of legal professionals. They help to ensure that higher education remains the most powerful engine of upward social mobility in our society and that a professional education remains a cause for hope, and not a recipe for disappointment.
Bo Rutledge is dean of the University of Georgia School of Law, and Anna Gowen is a student starting her third year.
