Hey Gopher,
I don't know if you have the time with Law School, but you can make enough professional level acoustic panels to completely treat your room for under $400, maybe even less. Check out Jon Risch's DIY Panels
They aren't technically difficult and all the parts are readily available at Home Depot. You just need some simple tools and a weekend.
Then again, my old roommate from college just left and he's in his 2nd year law. It's safe to say, the guy is a little stressed out - financially and academically.
