In 2010 nearly 50,000 students accepted admission to law schools. From the same year, only 51% of graduates found employment in private practice. And only 68% of grads found themselves in a position that requires a law degree at work.
And that’s BEFORE the peak of the bubble. Say what? 32% of law school grads, with an average school loan debt of $98,500, didn’t even get jobs in law. With 2011 admissions still astronomical, the law school bubble wont be over until 2014.
But matriculation rates, administered LSAT’s, and applications to schools have dropped to late 80′s levels. So prepare to see a lot of law schools close. In the last 40 years, 65 new law schools have opened.
But Applications to schools are headed for a 30 year low. And it’s about time, with large portions of the legal profession shuttered there are less jobs. And more lawyers.
Source: Online-Paralegal-Programs.com
