- Student Loan Burden Soars. Above the Law believes that the student loan market is going to crash and suggests law school applicants begin thinking about whether their education is worth what they are paying for it. While a good education can give you a boost, in these economic times with student debt climbing 25% since 2008, “it’s just not enough of a boost to cancel out the high cost of education.”
- And Another Ranking Takes it on the Chin. If you thought the critiques of law school rankings had finally ended, Above The Law takes a jab at the National Jurist’s fifth annual list of the 60 ‘Best Value’ law schools. While the National Jurist has changed its ranking methodology to include “fairness,” this additional category has put schools ranked 121 in US News high up on the National Jurist’s list.
- Milken Donation to UCLA Law. The National Law Journal reports on the much debated $10 million donated to UCLA Law School by Lowell Milken to fund the Lowell Milken Institute for Business Law and Policy. Law professor Lynn Stout has sparked a lot of controversy by arguing that accepting the gift may “tarnish” the school, due to Milken’s history with securities regulators. However, Dean Rachel Moran responded: “We do not believe that decades-old, unproven allegations should serve as a basis for rejecting a gift from a person who has made enormous contributions to the betterment of others and now wishes to do even more.”
- Paying Back Student Loans. Although there has been much written about the difficulty law school graduates are having finding employment, The Connecticut Law Tribune does a good job of summarizing the issues many new lawyers deal with when having to pay back their loans. The ABA is doing a lot to tackle the issue, but student loans are still one of the biggest concerns—if not the biggest concern—for graduating law students.
- Stats Sink. The Washington Post reports that law school applications are down 10% nationwide, because of the difficulties law graduates have faced in the job market. At University of Missouri enrollment is down 11%, at UCLA it is down 16%, University of Michigan had a decrease in enrollment of 14%, and Washington University has also had a 12% decrease in enrollment. An even scarier statistic is that only slightly more than two-thirds of spring 2010 graduates had jobs requiring law licenses nine months later—and only 87.4 percent of the class of 2010 had any sort of job nine months after graduation.
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