<p>In 40 states, new CPAs must now have completed 50 credit hours of higher education (the equivalent of four years of college, plus an extra year):
[The</a> 150-Hour Requirement](<a href=“http://www.aicpa.org/Becoming+a+CPA/CPA+Candidates+and+Students/The+Profession+and+You/FAQs/150+Hour+Requirement.htm]The”>http://www.aicpa.org/Becoming+a+CPA/CPA+Candidates+and+Students/The+Profession+and+You/FAQs/150+Hour+Requirement.htm)</p>
<p>As I noted previously, there are seven states where it’s still possible to qualify for the bar exam by studying under the supervision of a lawyer in a law office. One reason that fewer than 100 members of the California Bar have availed themselves of this route is that it’s very labor intensive for the supervising attorney. If the supervising attorney contributed 500 otherwise billable hours to the task of educating an aspiring lawyer one-on-one, and customarily charged a fairly modest $250 per hour, the opportunity cost would equal $125,000.</p>