joeshmo39 wrote:Just to summarize some of the discussion:
1) Get better professors, which cost money.
2) Have more clinics and journals - which also will cost money.
3) Give away scholarships - these cost money.
4) Lower tuition so you take in less money.
5) (Have a smaller class, which pays less tuition, and thus gives you less money.) This wasn't in the original email. There's a chance the smaller class would lower expenses I guess, but maybe not enough.
Just a thought. Law schools are in an arms race that people sometimes forget. Why did UVA's tuition go up this year? In part because UM's did, and Berkley's, and whoever else's. If you want to keep up with the Jones's as far as facilities, activities, and professors you need to spend with them.
NYLS has one of the largest endowments of all law schools. Oddly...
One of the things NYLS is planning to use a donation for is to put lcd screens next to the places where they hang paintings to explain what the painting is every time they rotate the paintings. Est. cost? Somewhere around one year tuition. OR they could use paper.
Scholarships don't cost money...it is just less money coming in.
Having more clinics and journals doesn't cost the school very much to do. journals are student-run and most of their funding come from the student fee. The clinics are just professors who work in the field and are willing to get paid their salary for letting students take some of their cases off their hands.
Getting better professors of course costs money...but NYLS already pays their professors ridiculous amounts.
re: lowering tuition
NYLS currently has a tuition lock-in plan so it doesn't increase. If NYLS did the math and reduced the tuition based on what they could increase it over two-three years, then it wouldn't cost as much as some think.
re: smaller class size
I kinda agree with you, but there is still a way to do it. Currently NYLS occupies half of a block in NYC's TriBeCa neighborhood. If NYLS sold its old building and only used the new building, then they wouldn't have as much overhead and could take on a smaller class size.
Finally, you do realize NYLS is a for-profit private law school...right? The board of directors for the school make sure the tuition increases annually so that they maximize their profits. If I were the shareholders, I'd want money too. Board acts in the shareholder's interest. With that said, they've been profitable for a very long time and they have the money to make the kind of investments we are discussing.