« Wait for the setup before you trade | Main | Het Zuid, Antwerp, Belgium, »

Law school cost benefit disclosure: missing merit scholarship


The algorithm used by U.S. News puts a heavy emphasis on college grade-point averages and Law School Admission Test scores. Together, those two numbers determine about 22 percent of a school's ranking. The bar passage rate, which correlates strongly with undergraduate G.P.A.'s and LSAT scores, is worth an additional two points in the algorithm. In short, students' academic credentials determine close to a quarter of a school's rank -- the largest factor that schools can directly control.

So the point of most merit scholarship programs, Professor Organ said, isn't merely to tempt prospective students who might otherwise not attend, though that clearly is one result.

"What law schools are buying is higher G.P.A.'s and LSATs," Professor Organ said. In other words, the schools are buying smarter students to enhance their cachet and rise in the rankings.

Each does it a little differently.

The University of Florida's law school requires students to maintain a 3.2 G.P.A. to keep their scholarships; at the Benjamin N. Cardozo School of Law in Manhattan, it's a 2.95. The Chicago-Kent College of Law has a number of grant offerings, one of which sounds like the refueling options for a rental car: students can get a $9,000 annual scholarship guaranteed for all three years, no matter what their G.P.A., or $15,000 a year on the condition that they earn a 3.25 or above. If they get between a 3.0 and 3.25, they keep half the scholarship. Below a 3.0, it's gone.

Some elite schools don't give any merit scholarships, and some give them conditioned only on maintaining good academic standing -- which translates to "don't flunk out." But merit stipulations -- or stips, as they are known by students -- are used by 80 percent of law schools for which information is publicly available, Professor Organ found.

And it's not just institutions in the bottom half of the U.S. News rankings. If your school is ranked 35th, perhaps you're gunning for No. 30 and you can see No. 40 creeping up in the rear-view mirror.

it's often mathematically impossible for everyone to keep their grants. This year at Golden Gate, for instance, 57 percent of first-year students -- more than 150 in a class of 268 -- have merit scholarships. But in recent years, only the top third of students at Golden Gate wound up with a 3.0 or better, according to Ms. Ramey, the dean.

Consider what happens at Chicago-Kent, the school that offers students less scholarship money ($9,000) if they want it guaranteed, and more ($15,000) if they can clear the 3.25 G.P.A. hurdle. Ninety percent opt for the larger and riskier sum, according to school officials. A "significant" number later lose their scholarships, says the school's dean, Harold J. Krent.

BUSINESS DAY
Law Students Lose the Grant Game as Schools Win
By DAVID SEGAL
Published: April 30, 2011
Merit scholarships help law schools enhance their cachet, but grading curves often make it impossible for students to keep the grants.

TrackBack

TrackBack URL for this entry:
http://www.stylizedfacts.com/cgi-sys/cgiwrap/fotohof/managed-mt/mt-tb.cgi/6627

Post a comment

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)