The New York Times has a great article about how University of Minnesota Law School has chosen to respond to the drop in law school applications. As the article details, the school has earmarked more money for financial aid even in the face of a large budget deficit and has shrunk its incoming class from about 250 a few years ago to 174 for this incoming class. It’s also held firm on tuition.
The article is a good, short read. We believe whether or not the applications rebound (and it certainly appears 2014 marked the bottom), that the very top law schools will retain their good standing and ability to fill their classrooms and raise tuition annually. In this particular scenario, we believe the rest of the first tier schools will see their class sizes shrink and their tuition lag behind inflation. The lower-tier schools, however, could be in huge trouble and many in the industry outside of AdmissionsConsultants have already stated off the record they wouldn’t be surprised to see one or more ABA schools close by 2020.
Best of luck with your applications!
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Good for them for shrinking their class. I hope their actions bring them good karma.
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