ERIC Number: EJ997092
Record Type: Journal
Publication Date: 2013-Mar-11
Reference Count: N/A
Pop Goes the Law
Harper, Steven J.
Chronicle of Higher Education, Mar 2013
The Law School Admission Council recently reported that applications were heading toward a 30-year low, reflecting, as a "New York Times" article put it, "increased concern over soaring tuition, crushing student debt, and diminishing prospects of lucrative employment upon graduation." Since 2004 the number of law-school applicants has dropped from almost 100,000 to 54,000. Good thing, too. That loud pop people are hearing is the bursting of the law bubble--firms, schools, and disillusioned lawyers paying for decades of greed and grandiosity. The bubble grew from a combination of U.S. News-driven ranking mania, law schools' insatiable hunger for growth, and huge law firms' obsession with profit above all else. Like the dot-com, real-estate, and financial bubbles that preceded it, the law bubble is bursting painfully. But now is the time to consider the causes, take steps to soften the impact, and figure out how to keep it from happening again.
Descriptors: Law Schools, Admission (School), Declining Enrollment, Enrollment Trends, Tuition, Student Costs, Debt (Financial), Employment Potential, Lawyers, Quality of Working Life, Educational Finance, Context Effect, Employment Patterns, Education Work Relationship
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Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education
Authoring Institution: N/A
Identifiers - Location: New York; United States