In summer 2013 Arizona State University will open a nonprofit teaching law firm to provide training to its recent law graduates. ASU aims to make its graduates more competitive with large law firms and likens its initiative to hospital residency programs.
Frank Wu, dean of the University of California Hastings College of Law, says that are too many law schools and law students. This comment comes in light of recent trends of downsizing law firms and decreasing salaries.
On April 19, 2012, the ABA Journal announced a 15% hike in the LSAT test fee. Effective June 2012, the LSAC has increased testing fees from $139 to $160 per administration. Additionally, the cost of the credential assembly service, which all applicants must subscribe to for the law school application process, has increased from $124 to $155, and the cost of sending a credential assembly report has risen from $16 to $21 per school. All told, the minimal cost a student must incur to apply to law school has risen from $279 to $336 – a sharp 20% increase.
For members of the Class of 2014, those who were summer associates in 2013, the offer rate for entry-level associate positions following those summer programs rose about two percentage points to 92% from 90% the previous year. This is a huge change from the stark offer rate of only 69% measured in 2009, and is only a single percentage point from the historic 93% offer rates recorded in 2006 and 2007. Conversely, and as we might expect with the higher offer rate, the offer acceptance rate fell about two points from 86% to 84%.
Ian Ayres and Akhil Reed Amar wrote an essay that argues — persuasively, some say — that paying students to quit law school could alleviate the numbers of graduates with six-figure law school loans who can't find a job that pays enough to cover the debt.
Decrease in Law School Applicants
As reported by New York University news, over the past three years, law schools nationwide have seen a spike in their application numbers as many sought out the institutions with the hopes of waiting out the recession. But for 2011, the Law School Admission Council reported a nearly 10 percent decrease in applications.
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