Why are Law School Applications at an All-Time Low?
By now, you have probably seen the headlines, blog posts and graffiti on the walls of your law school’s bathroom, and it all says the same thing. It all says that going to law school is a bad idea.There are no jobs, it says. Student loan debt will cripple you financially for years. No one is going to law school anymore.
You’ve read it. You’ve thought about it. And maybe you are even beginning to second guess your decision to apply.Before you do that, you need to understand why law school applications are at an all-time low–and how you can take advantage of it.
Why law school applications are at an all-time low
- The Great Recession. It affected everyone. People lost jobs and homes. They became wary of credit cards and loans. And many people who would have applied to law school changed their minds in order to avoid student loan debt.
- Baby Boomers. It wasn’t only the young who were affected by the Great Recession. Baby Boomer lawyers lost out, too. They were ready to retire, but then the recession hit and their IRAs took major hits. Next thing you know, Baby Boomer lawyers delay their retirements, meaning there are less jobs for recent law school graduates. Once law schools had to release their employment data, it was only a matter of time before prospective students saw the news and stayed away.
- The Media. The media have not done law schools any favors. They have been beating the constant drum about the cost of tuition, student loan debt and the lack of jobs. All the headlines have scared off prospective students.
How you can take advantage of it
- Scholarships. Fewer applications mean that it is a buyer’s market. Law schools are aggressively competing for students by handing out robust scholarships. If you have impressive credentials, chances are good you will get awesome scholarship offers.
- Competition. Many law schools are also scrambling to find students–any students–to fill seats. This means you will be sitting next to students who might not have made it in a few years ago–and this is good news because it increases your chances of winding up in the top 10 percent of your class.
- Baby Boomers. They can’t work forever. The economy is recovering. Many boomers will start to retire just about the time you graduate. This means more job prospects for your class.
This article was written by FindMyLawTutor.com.
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