The combo package of a tuition freeze and scholarship for each student will make Wayne State Law School's tuition for 2015 about one-half of what the University of Michigan Law School charges. The package provides the equivalent of a 14% reduction. Here are details from Jacob Gershman at The Wall Street Journal (sub. req.)
The good news about that is this: Those who want to become lawyers can afford to. Maybe they will enter the family's law business. Maybe they will have public service jobs in law. Maybe they know a law degree is useful in politics, their real goal.
The bad news is this: Wayne State Law School ranks 87th in the U.S. News & World Report rankings. In the paper chase, the ranking of one's alma mater means plenty. The odds are against the graduates of Wayne State getting hired by prestigious law firms.
Perhaps a long-term solution which makes more economic sense is for law schools which are ranked low and whose enrollment is declining to simply shut down. Could providing this "affordable pricing" constitute a type of "attractive nuisance" which lures the naive, the overly optimistic, and the altruistic?