"Navigating the Perfect Storm: Recruiting, Training and Retaining Lawyers in the Coming Decade (Ark Press, 2010)
Is there a law school tuition loan bubble? Are law school applicants aware of the facts? Are law schools engaged in a pattern of deception? Do law schools owe a duty of full and fair disclosure to applicants? Why are the ABA and Universities thinking of acrediting foreign law schools and creating new law schools? Is our entire system of legal education broken beyond repair? What is the ethical obligation of law schools to make full and fair disclosure to law school applicants? Is NALP an aider and abettor in publishing misleading statistics?
Law school applications and enrollment seem to be defying gravity and simple facts. Like the dot.com explosion and then bursting bubble, as well as the recent housing bubble, there now exists a law school tuition bubble. Law school applications and enrollment are marked by unwarranted and irrational exuberance.
As hundreds of thousand of lawyers remain unemployed and underemployed, tens of thousands of students are now in attendance in law school and tens of thousands of new college graduates are applying to law schools like lemmings heading to their (finacial) demise. As they do so, they take student loans of between $150,000 to $200,000, with little likelihood that they will earn an income, or any income at all which will give them the ability to amorttize or, sometimes even pay these law school student loans. We have created a law school tuition bubble, which is even now bursting.
The time is nigh for law schools and the legal profession to completely revamp the entire system of law school education, accrediting law schools here and abroad.
Law schools argue that law school applicants have an obligation to investigate all of the facts before they apply to law school. Law school graduates argue that the nation's law schools are engaged in a wide scale scam and are operating a Ponzi scheme.
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