Law school dropout auctions off own name on eBay to pay student loans

Charlotte School of Law is a for-profit outfit that was founded in 2006 and received full ABA accreditation in 2011.

The school’s employment score — the percentage of graduates who are actually practicing law — is only 34 percent, according to Law School Transparency.

The total cost of three years of attendance after factoring in tuition, fees, room and board, and basic living expenses is $222,568. If you want to pay off a loan for that amount in 10 years, Law School Transparency notes, you would owe $2,648 per month.

Tuition at Charlotte School of Law is in line with tuition at other schools; average tuition is over $39,000 per year nationally, says Law School Transparency. The average debt for private law school graduates approaches $125,000, notes the ABA Journal. For public law schools, a typical debt is still a fairly gaudy $75,700.

Madsen’s eBay listing isn’t the first time in recent memory that a law student or recent graduate has tried something unorthodox to get out of debt.

Above the Law recalls two similar incidents: In 2008, a DePaul Law grad attempted to fetch some $100,000 for the the rights to his law degree on eBay. Two years later, a Georgetown Law alum advertised his degree on Craigslist in exchange for payment of his outstanding loan balance.

There are currently no bids on the right to re-name Jason Madsen. You can be the first: The minimum starting bid is $75,000.

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