Sunday, February 28, 2010

2010 Top Ten Most Mormon Friendly Law School Point System Explained

Below is an explanation of the point system used to create the 2010 Top Ten list.

Neither Brigham Young University's J. Reuben Clark School of Law or the University of Utah's S.J. Quinney College of Law were considered for the top ten most "Mormon Friendly" law school list. This was not done as a slight to either school but simply to make the list more exciting. If BYU and the U had been included they would have ranked #1 and #2 respectively.

The top ten list was created to help "Mr./Mrs. Mormon Pre-Law Student" develop a better sense of what law school might be interested in attending. For the purposes of the top ten list it is assumed that the law student is married with one child.

How is "Mormon Friendly" defined? Taking the totality of the circumstances into consideration what would be the best law school for "Mr./Mrs. Mormon Pre-Law Student" to attend?

Why include the cost of living and tuition in the Top Ten list? After last year's top ten list was published several commenters expressed their opinion that the cost of attending a law school shouldn't have anything to do with how "Mormon friendly" it is. I disagree. The Church of Jesus Christ of Latter Day Saints has taught the benefits of frugality and the heavy burden of debt for decades. In fact this is one of the reasons that tithing funds are used to subsidize the cost of tuition and some housing at Brigham Young University. This leads to my premise; the cheaper the cost of tuition + the cheaper the cost of living = less debt = Mormon friendly.

The first element measured was the number of law students REGISTERED (on the official JRCLS website) as J. Reuben Clark Law Society Members at a particular law school. Each Mormon law student was worth 2 points. George Washington School of Law had the most law students registered at 76.

The second element measured was the cost of living. The lower the cost of living the more points a particular law school received up to a maximum of 100 points. Any school that cost less than $12,000 received all 100 points. The more expensive the cost of living the less points the law school received down to 0 points. Any school that had a cost of living more than $22,000 received 0 points.

The cost of tuition was the third element measured. The less expensive the law school the more points they received up to a maximum of 100 points. The more expensive the law school the less points they received down to a minimum of 0 points. Any school that cost less than $24,000 per year received all 100 points. Any law school that cost more than $42,000 per year received 0 points. For every two thousand dollar increase in tuition a school lost 10 points.

The fourth element measured was the distance of the nearest LDS Temple to the law school. Each school started out with 100 points and lost 1 point for every mile they are from the nearest temple. For law schools more than 100 miles from the nearest LDS Temple they received 0 points.

The fifth element measured was the law school's US News and World Report Ranking. Each law school started out with 100 points and then lost 1 point for its distance from the first place. For example the law school ranked 25th in the US News and World Report Ranking would receive 75 points. Why include the US News and World Report Ranking? For good and bad the law school ranking can have a very big impact on how many job offers a graduating law student has and in what income bracket.

Monday, February 15, 2010

Why Can't Utahns Afford Their Mortgage?

The Christian Science Monitor recently wrote an article covering foreclosures in Utah. A Realty Trac report showed that in January, Utah had the fifth highest foreclosure rate in the country. The Christian Science Monitor article continues: Mormons in 2004 had a bankruptcy rate that was approaching twice that of the national average. But a 2007 study by two Harvard Law School graduates found that rates among non-Mormons in Utah were even higher, suggesting that religion, if anything, was restraining bankruptcies. So what's causing it? The Harvard researchers suggested it might have to do with low wages and high medical costs. Another research project pointed out that two-thirds of bankruptcy filers in Utah had at least one dependent child, twice the national average.

"Due to the large size of Utah families, it would invariably place Utah among the top 15 states in bankruptcy filings," writes Jerry Basford, professor of personal finance at the University of Utah, in an e-mail.
Last year, a study by two Brigham Young researchers attributed a big part of the problem to garnishment laws. Because Utah makes it easy for lenders to garnish the wages of borrowers who don't pay up, people are more likely to file for bankruptcy to avoid companies automatically taking part of their paychecks, the researchers said. The study also pointed to the high number for repeat filers for bankruptcy and the effect of having a large proportion of young, middle-class people earning $30,000 to $60,000 a year as reasons for Utah's bankruptcy surge.
Is it possible to get married early, not delay starting a family, have a large family, have only one income (so the wife can stay at home and raise the kids), get as much education as possible, pay tithing, pay fast offerings and not put yourself in a financially precarious situation? And if so why do so many Mormons file for bankruptcy? This is a very interesting problem and one that unfortunately is not going to go away any time soon.

Wednesday, February 10, 2010

Reminder: Top Ten Mormon Friendly Law Schools

Don't forget to mark your Google Calendars. On Monday, March 1, we will announce the 2010 Top Ten most Mormon friendly law schools in the country. Will there be a new number one? Check back on the first to find out.

Monday, February 1, 2010

LDS Church Buys Vacant KJZZ Building.

The LDS Church on Saturday confirmed it has purchased the KJZZ studio building west of the Salt Lake City International Airport. The church intends to use the property for church operations, "possibly as an audio visual studio or warehouse,". This represents the third major real estate purchase by the Mormon Church in Salt Lake City, Utah in recent weeks. Salt Lake Tribune 

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