Pop Goes the Law
"... applications ... 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 you're hearing is the bursting of the law bubble—firms, schools, and disillusioned lawyers paying for decades of greed and grandiosity."
Law Schools’ Applications Fall as Costs Rise and Jobs Are Cut
"The drop in law school applications is unlike what is happening in almost any other graduate or professional training, except perhaps to veterinarians. Medical school applications have been rising steadily for the past decade. ...
Debra W. Stewart, president of the Council of Graduate Schools, said first-time enrollments to master of business degree programs were steady — a 0.8 percent increase among Americans in 2011 after a decade of substantial growth. But growth in first-time foreign student enrollments — 13 percent over the same period — made up the difference, something from which law schools cannot benefit, since foreigners have less interest in American legal training."
Three Questions
One
Agree that Law School bubble is bursting?
Two
Is this a unique phenomenon, or do you think that it is the first of a string of school bubbles that are going to burst?
Three
Other comments concerning bubbles in graduate and/or professional education?
Uno
"... applications ... 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 you're hearing is the bursting of the law bubble—firms, schools, and disillusioned lawyers paying for decades of greed and grandiosity."
Law Schools’ Applications Fall as Costs Rise and Jobs Are Cut
"The drop in law school applications is unlike what is happening in almost any other graduate or professional training, except perhaps to veterinarians. Medical school applications have been rising steadily for the past decade. ...
Debra W. Stewart, president of the Council of Graduate Schools, said first-time enrollments to master of business degree programs were steady — a 0.8 percent increase among Americans in 2011 after a decade of substantial growth. But growth in first-time foreign student enrollments — 13 percent over the same period — made up the difference, something from which law schools cannot benefit, since foreigners have less interest in American legal training."
Three Questions
One
Agree that Law School bubble is bursting?
Two
Is this a unique phenomenon, or do you think that it is the first of a string of school bubbles that are going to burst?
Three
Other comments concerning bubbles in graduate and/or professional education?
Uno
