Law school apps down

Cite this Article
Larry Ribstein, Law school apps down, Truth on the Market (March 17, 2011),

The WSJ reports:

The number of law-school applicants this year is down 11.5% from a year ago to 66,876, according to the Law School Admission Council Inc. The figure * * * is the lowest since 2001 at this stage of the process. * * * Prospective law students increasingly are aware of the grim job market for lawyers and the challenges they would face in paying off law-school loans, college career advisers said.

Law school is counter-cyclical.  A rising economy increases the opportunity costs of a legal education.

Still, this is a wakeup call. Law schools need to decrease and restructure tuition and make a better case for the long-term value of a legal education.