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Akron Law gets high marks for low student debt
SHERRY KARABIN
Legal News Reporter
Published: August 25, 2017
It’s been recognized for some of its programs and bar preparation techniques, now The University of Akron School of Law is getting high marks for leaving its graduates with low debt.
According to a preliminary report from the Ohio State Bar Association Futures Commission and statistics from U.S. News & World Report, in 2015 Akron Law students owed less money when they graduated than those at other Ohio law schools.
The numbers show that the average Ohio law school graduate owed $98,474, while those at Akron Law had accumulated $78,575 in debt, the lowest amount of the nine law schools in the state.
University of Cincinnati College of Law graduates left school with the second lowest debt, with students owing an average of $82,988. Capital University Law School had the highest numbers, with graduates walking down the aisle with a mean of $116,283 in loans.
Akron Law students also fared well the following year.
U.S. News & World Report statistics show those graduating in 2016 owed less than students at all but one Ohio law school, with the average amount totaling $82,854.
Graduates at the University of Cincinnati College of Law had the least debt, with a mean of $75,512. The Ohio law school where students faced the highest debt remained Capital University at $123,432.
Akron Law Dean Christopher J. (C.J.) Peters said he isn’t surprised by the results.
“The low debt is attributable to a number of factors,” said Peters. “First of all, Akron Law students are able to get an education at a very affordable price.
“The figures reflected in the reports are the average rate for students who borrowed money,” said Peters. “There are some students who did not have to take out any loans at all.”
An Ohio resident entering Akron Law as a full-time student this fall will pay $24,214, including fees, Peters said. The cost goes up by $100 for nonresidents.
“Even if a student does not receive any financial aid or scholarship money, the cost is still relatively low,” said Peters. “And many of our entering 1Ls do receive scholarship money from Akron Law.
“Unlike many other schools, Akron Law guarantees the scholarships 1Ls receive will continue throughout their law school careers as long as they remain in good standing by maintaining our required minimum grade point average of 2.30.
“In contrast, many other schools require students to maintain higher GPAs or to stay within the top third or half of the class to keep their scholarships,” said Peters.
“At these schools, some students inevitably lose their scholarship money after the first year. We eliminated that model several years ago and many other law schools are now getting rid of it, but some still use the old model.”
Nolan James, assistant dean of admissions, said there are other reasons that Akron Law graduates leave with less debt, including the generous scholarship money that some receive.
All students who are admitted are automatically considered for a Board of Trustees scholarship, said James.
“These are merit-based scholarships in which we look at academic performance, LSAT scores, a demonstrated commitment to social justice or other factors that are in line with our values,” said James. “We do offer full-tuition-and-fees scholarships to a limited number of students, generally those in the top three percent of our applicant pool, but books and housing are not included.”
In addition, he said students who complete their first year can apply for one of over 50 upper division scholarships.
“Many of these are donor-backed and they set specific parameters for who qualifies,” said James. “Some are set aside for minority students; others require the recipient to be a night student. The guidelines vary.”
James said the cost of living in Akron is lower than in many other cities, which also helps to keep expenses down.
He said the law school also provides a stipend of up to $2,250 to all graduates who sign up to take a bar preparation review course.
“Our law students are informed consumers,” said James. “We recognize that in today’s competitive environment we need to maintain our affordability and offer generous scholarships in order to continue to attract those students most likely to be successful in law school, who will go on to become practicing attorneys.”