Why does the LLM cost so much in the US?

People's wealth is now at 1990 levels, but LLMs STILL cost $70,000.

Does anyone else think this is ridiculous?

$70,000 in 2009 = $140,000 in 2008 :-)

And now, law firms aren't hiring and wages (along with bonuses) are going down, but universities are raising their fees to make up for all the bad investments they have made in the past few years.

supply and demand

ask any school there applications are going up 10 or 20 percent

thus they can raise the price

and 70,000 this year does not equate to 140,000 last we haven't had hyper inflation yet

catch a grip the worlds not that bad


yet

I think the answer is pretty easy. In this day and age, everybody would love to obtain a graduate degree from the US to enhance their resume and spend some time in the states. And what is one of the very few degrees in the US that does not require a ridiculously time-consuming and difficult graduate school entrance exam such as the GRE/LSAT/GMAT/MCAT? You guessed it. It's the LLM degree.

Like the above poster said, it's supply and demand. LLM is the poor man's version of the JD or MA or MBA degree. And it's practically the only way most LLB students from foreign countries will ever come close to getting a graduate degree from the US. How many LLBs graduate each year from around the world? I'm gonna go out on a limb here and say at least 100,000. So you can imagine the demand. And to US law schools, LLM programs are nothing but businesses for profit. Hence the high cost.

Much more than 100,000/year, Enigma.

In only ONE country (Brazil), we have more than 1,000 law schools and 120,000 law graduates per year (data from 2004). Huge problem.

http://www.conjur.com.br/2006-ago-05/brasil_mil_faculdades_direito

I think the answer is pretty easy. In this day and age, everybody would love to obtain a graduate degree from the US to enhance their resume and spend some time in the states. And what is one of the very few degrees in the US that does not require a ridiculously time-consuming and difficult graduate school entrance exam such as the GRE/LSAT/GMAT/MCAT? You guessed it. It's the LLM degree.

Like the above poster said, it's supply and demand. LLM is the poor man's version of the JD or MA or MBA degree. And it's practically the only way most LLB students from foreign countries will ever come close to getting a graduate degree from the US. How many LLBs graduate each year from around the world? I'm gonna go out on a limb here and say at least 100,000. So you can imagine the demand. And to US law schools, LLM programs are nothing but businesses for profit. Hence the high cost.

damn, I guess I grossly miscalculated.