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Want a law school named in your honor? Be prepared to chip in about $25 million. That’s the going rate for donors who want their names as part of a law school’s official moniker, according to a recent study conducted by a law professor at Nova Southeastern University. The study by Robert Jarvis found that although paying for a law school’s name is dramatically cheaper than the $100 million price tags that some medical schools have, the naming privilege is more expensive than, say, business, pharmacy or theatre schools. Published in the current issue of Journal of Legal Education, “A Brief History of Law School Names” notes that among the 192 law schools approved by the American Bar Association at the time he researched the matter, 14 were named for benefactors, five for deans, 13 for locales and 17 for prominent historical figures, including eight U.S. Supreme Court justices and three religious figures. Jarvis pinpointed the current market rate for a law school name at about $25 million by looking at the amount donors paid at a variety of law schools, including those at Ohio State University, Southern Methodist University, Temple University and University of Denver. He also expects more law schools to sell their names as they increasingly rely on donations. Even Harvard Law School, he said, could sell its name “for about a billion dollars.”

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