So you’ve set your sights on a career in law – fantastic! But before diving headfirst into legal textbooks, it’s crucial to understand the complete cost of a law degree. After all, a law education is an investment in your future, and a well-informed decision is key. 

This guide will explore the three pillars of legal education costs – time, money, and return on investment (ROI) – to help you decide whether you are ready to enrol into our BA LLB program at SMS Law College.

Time: BA LLB is a 5-year Program!

Law education in India typically involves a five-year commitment after Class 12. This includes the duration of your BA LLB program itself, followed by bar exam preparation and the exam itself. Factor in any additional time you might need for retaking the bar exam or pursuing a specialised legal master’s degree. 

Or if you enrol in an LLB program after graduation, it will take you three years more to complete the program. It means that you will invest 3 or 4 years in completing your first Bachelor’s degree and 3 years more for the LLB program, which will mean that you will spend a total of 6-7 years to finish your law education.

Remember, law school is demanding. It requires dedication to studies, attending classes, preparing for exams, and participating in practical experiences. This translates to a significant time investment that will impact your other activities and potential income opportunities. Hence, doing part-time jobs along with a law degree program might not be easy.

Money: The Financial Investment!

The cost of a law degree can be broken down into two main categories: direct costs and indirect costs. 

Let’s delve into each:

Direct Costs

These are the tangible expenses associated with your legal education. For instance, consider the tuition fees for your chosen law school. Take the example of BA LLB at SMS Law College, Varanasi. Here’s a breakdown of their direct costs:

• Tuition Fee (per semester): Rs. 35,000.00
• Number of semesters in BA LLB program: 10 (standard duration for most integrated law programs in India after Class 12)
• Total Tuition Fee: Rs. 35,000.00/semester * 10 semesters = Rs. 3,50,000.00
• Other Fees (one time): Admission Fee, Caution Money (refundable), Alumni Fee – these can vary. So we recommend you to check the course page at the time of admission to learn about the latest fee structure.

Indirect Costs

These are the ongoing expenses you’ll incur while pursuing your law degree. They include:

• Living Expenses: This encompasses housing, food, transportation, and other daily living costs. The cost can vary significantly depending on your lifestyle and chosen accommodation. 

Research suggests a range of Rs. 39,005 (single) to Rs. 112,618 (family of four) per month in Varanasi. But most students are able to live in Varanasi for as little as Rs 4000 to 5000.

We have a whole article on how to manage your budget. You can check it here.

Be realistic about your needs and budget accordingly.

• Books and Course Materials: Textbooks and other learning materials are essential for your studies. While the cost can vary by semester and specific courses, factor in a reasonable estimate based on past semesters or by contacting SMS Law College directly.

• Opportunity Cost: This refers to the potential income you could be earning if you weren’t in law school. Consider your prior or alternative earning potential during your law school years.

SMS Law College does offer scholarships to new and existing students to sweeten the deal for deserving students. You can check them out.

• Return on Investment (ROI): The ROI of your law degree goes beyond just the starting salary. Here’s what to consider:

• Earning Potential: Research the average starting salary for lawyers in your desired practice area and location. This helps you estimate your potential future income after accounting for taxes and living expenses.

Check the article on emerging law careers that pay well.

• Debt Repayment: If you plan to take out student loans to finance your BA LLB at SMS Varanasi, factor in the time it will take to repay them. This helps assess the financial burden of your legal education.

• Career Satisfaction: While not quantifiable, consider the fulfilment and career satisfaction you expect from being a lawyer. Is the emotional and professional reward worth the time and financial investment?

Making an Informed Decision

By integrating these aspects, you can make an informed decision. Here’s a quick recap:

1. Calculate the Total Financial Cost: Add up all direct and indirect costs, including the opportunity cost, to understand the total financial investment required for your BA LLB at SMS Varanasi.

2. Estimate the Time Commitment: Account for the total years of studies, exam preparation, and potential additional time for your chosen path.

3. Project Your Potential ROI: Research average starting salaries in your desired field and factor in the time it takes to repay any loans. Remember, ROI isn’t just about financial gain. Consider the intangible benefits like career satisfaction and the impact you aim to make as a lawyer.

Taking the Next Step

SMS Law College offers an affordable BA LLB Program in Varanasi. It offers holistic law education and is an ideal choice for those who missed the CLAT and other top national-level law entrance exams.

Situated in the SMS Varanasi campus, it offers you hostel facilities, transportation facilities, access to libraries and centres of excellence, and much more.

Register now to reserve a BA LLB seat today!