Law School Is Buyers’ Market, With Top Students in Demand

Graduate School Law School
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<p>Law schools, facing declining enrollment, are trying to attract students by cutting or freezing tuition and increasing financial aid.</p>

<p><a href="http://dealbook.nytimes.com/2014/12/01/law-school-becomes-buyers-market-as-competition-for-best-students-increases/"&gt;http://dealbook.nytimes.com/2014/12/01/law-school-becomes-buyers-market-as-competition-for-best-students-increases/&lt;/a&gt;&lt;/p>

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<p>Law school is buyers’ market for a reason: the legal job market has COLLAPSED.</p>

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<p>From the article:</p>

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<p>THIS is a much more important number. Which pretty much reflect the Bureau of Labor Statistics which reports that each and every year, law schools graduate 2x more students than the legal industry needs.</p>

<p>(Of course, that is just Econ 101 wrt barriers to entry = none.)</p>

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<p>If law school were a buyer’s market, it would be a lot cheaper. Even the “scholarships” given to students bring the cost down to where it was just before the crash. It might have been worth it then, but it’s not worth it now.</p>

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<p>aries: for many, I think the net price has come down quite a bit. 70% of Northwestern law students, for example, are no receiving merit money. Many of those are receiving a ~80% off of tuition. (Of course, that is just my tea leave reading.)</p>

<p>The point is to apply broadly and see where the money comes from. Someone receiving a near full ride from Northwestern, for example, might not even get into Michigan, or get zero from NYU/Columbia.</p>

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<p>Some 208 law schools saw declining admissions, according to this article. I can’t cry for the fact we will have fewer lawyers in this country. <a href=“http://theadvocate.com/news/11137666-123/lsu-law-center-offers-buyouts”>http://theadvocate.com/news/11137666-123/lsu-law-center-offers-buyouts&lt;/a&gt;&lt;/p&gt;

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<p>It is the 99% of lawyers who give the rest a bad name!</p>