Does America really need 202 accredited law schools? That’s the question posed by Forbes contributor Peter Cohan. The answer is no, by the way.
Here’s how he gets to that. He says the decline in the number of students heading to law schools is profound, with fewer people willing to pay out the nose for that schooling. That may be tied to the fact that “radical changes in the way law is practiced means that the high tuition imposed on aspiring lawyers to get that law degree are less likely to pay off,” Cohan argues.
Underscoring that, the number of law schools is expected to decline to 192 by 2023, Cohan notes. Meanwhile, law schools are cutting staff to stay afloat and reducing tuition to keep students enticed and enrolled, he states.
Next, enter globalization. The Internet and cheap telecommunications make it easy for law firms and companies to hire low-wage temps in places like India, he states.
“It looks like the basic laws of economics are scaring tens of thousands of those slow-to-grow-up graduates away from the bar,” Cohan argues.
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