Stanford Law School Tests New Plan To Make Law Degrees Affordable

Reuters reports..

Stanford Law to offer ‘income share’ financing as law school costs soar

  • Law students will pay 10% of future income in exchange for $170,00 upfront for tuition
  • Pilot program could open new era for law school financing, proponents say

Sept 15 – Stanford Law School has teamed with a new non-profit to offer what are known as “income share agreements” to law students, a move officials said will lower the cost of a J.D. for many and make it easier for law graduates to purse lower-paying public interest positions.

Under a pilot program announced Thursday, participating first- and second-year Stanford law students will receive up to $170,000 upfront to pay for their degrees through the Flywheel Fund for Career Choice, which has been seeded with more than $2.5 million in donations. Upon graduation, participants will pay 10% of their income for 12 years to Flywheel.