Is law school or med school more expensive?
Asked by: Colten Beier | Last update: May 18, 2025Score: 4.4/5 (36 votes)
The American Association of University Professors reported that in 2019, the typical student loan debt for law school graduates was $145,500, while in 2020, medical school graduates carried an average of $208,000 in student loan debt. Note that these are just figures because people have very different amounts of debt.
Is law school more expensive?
For the 2023–2024 year, the cost of attending private law schools can range from $12,000–$80,000 a year, with an average cost of $53,034 a year. Public law schools range from $12,000 to $60,000 for in-state students, averaging $29,610 annually.
Is there more money in law or medicine?
The Bureau of Labor Statistics gives median salaries for both doctors and lawyers, so it's clear that the doctors' number is higher. But median salaries are the midpoint in a list of salaries for one occupation, meaning that half of the list makes more and half makes less.
Is it financially worth it to go to law school?
Key Takeaways
Law school can be a path to a lucrative career—but it can also lead to significant debts. The average law school graduate debt is $160,000, while the starting annual salary is much less.
Is med school more expensive than college?
Medical school tuition in the United States is known for being extremely expensive, and having to pay for medical school on top of accrued undergraduate school costs may make students feel that it's impossible to pay for their education.
first week of law school ⚖️🏛️ VLOG
How much does 8 years of medical school cost?
The cost of eight years of medical school, which includes four years of undergraduate education and 4 years of medical school, can be substantial. The combined cost for eight years of education can range from $309,232 to $442,384, excluding additional expenses such as room, board, and books.
Do you get paid in residency?
Yes, medical residents are paid to work at their hospitals or clinics. Although there is some debate about whether residents should be considered students or employees, most residents consider themselves employees due to the significant difference between school and residency.
What is the dropout rate for law school?
The 2023 law school attrition rate was 3.8 percent, varying across demographics and institutions. This article delves into the types of attrition, the schools with the highest rates, and the impact of these rates on student choices and institutional policies.
Is law school harder than med school?
Although both law and medical schools present their unique challenges, it's generally accepted that medical school demands a higher level of intense coursework and thorough training.
Does law actually pay well?
Lawyer salaries by state
Lawyers in these states earn the highest median salaries: California ($175,680) New York ($172,880)
What is more prestigious, a doctor or a lawyer?
In general, a doctor. This does not mean every doctor is more prestigious than every lawyer. One reason would be that there are significantly fewer doctors than there are lawyers. I hasten to add that the help a person could get from a practitioner of either profession is priceless.
Which is harder to become a lawyer or doctor?
Time Commitment - Whereas law school is only 3 years of post-graduate education (I was even able to get TWO law degrees in that time) becoming a doctor can take up to 10 years of post-graduate training and education. Not to mention the student loan debt that comes with those additional years of education and training.
What percent of lawyers make over 200k?
Well, according to the Bureau of Labor Statistics, the median salary for attorneys in the US is just over $125,000. The highest-paid lawyers (10% of the legal workforce) make over $208,000 However, the top 1% of attorneys make $500,000 or more per year.
What type of lawyer makes the most money?
Patent Attorney Salary
Patent attorneys are the highest-paid type of lawyers, with an average salary of $185,351, ranging from $119,88 to $285,530. Various factors contribute to a patent attorney's average salary, including experience, firm, location, and subject matter expertise.
Can you work while in law school?
Working throughout law school is a great way to not only supplement income but also gain legal experience. For many law students working during law school, the position they maintain is typically a law clerk position that stems from a summer legal opportunity.
How do people afford law school?
Financial aid can cover the FULL COST of attendance established by the school you attend, if needed. IF YOU NEED TO BORROW loans for this important investment in your future, the flexibility and safety of the federal student loan programs lets you afford repayment of any federal loans you borrow, regardless of career.
What is the hardest year in law school?
Law school is an academic challenge; most students agree the first year (“1L” year) is the most difficult. In part, this is because law school is taught using methods entirely different than the lecture method used in most college classrooms.
How hard is the bar exam?
The bar exam is hard. In fact, it may be one of the most difficult challenges you ever embark on. You must memorize numerous laws and consume a lot of knowledge to answer questions correctly. For many, it feels like trying to hold sand in your hands, knowing that you'll inevitably lose much of it.
How long is med school?
Medical school typically lasts four years, but three-year accelerated programs have been emerging. Once someone receives either an M.D. or D.O. degree, they go on to the next phase of their medical training, typically a residency in their desired specialty, such as surgery or radiology.
Is being a lawyer worth it financially?
Lawyers have the opportunity to earn a lucrative income. The average annual income for an attorney in the United States is $127,990 per year as of 2021 according to the U.S. Bureau of Labor.
What GPA is too low for law school?
What Is the Lowest GPA For Law School? Since the majority of law schools require a GPA of 3.0 or higher, anything below a 3.0 is considered very low. Some of the absolute lowest GPA requirements for schools are 2.80.
How many people regret going to law school?
Law School Regret by the Numbers
Only 35 percent said law school prepared them well for practicing. Only 20 percent strongly agreed that their law school was worth the cost. Thirty-eight percent said they were struggling financially; 30 percent said they were "suffering"
What is the highest paid residency?
The top-paying specializations post-residency include orthopedic surgeons ($558k) and plastic surgeons ($536k). The lowest-paying specialties are endocrinology and pediatrics, with average salaries of $256K and $260K, respectively.
How many years is residency?
Once medical school has been successfully completed the graduate school experience begins in the form of a residency, which focuses on a particular medical specialty. Residencies can last from three to seven years, with surgical residencies lasting a minimum of five years.
Why do doctors get paid so little during residency?
Yes, in the US, you are paid during residency. However, unfortunately, residents are not paid very much considering the massive number of hours they are expected to work. While most residents are paid a similar amount, some specialties make more or less than others due to how many hours they're expected to put in.