The Great “I Guess I’ll Go Back to School” Era in the wake of the 2008 financial crisis appears to be drawing to a close.
Yesterday, the Law School Admission Council reported a nearly 10 percent decrease in applications for incoming class of law students in 2011 — the steepest decline in at least 10 years. This summer, the number of LSATs given dropped off 18.7 percent from the previous year — the steepest decline in 24 years.
At NYU, a top ten law school, applications decreased 14 percent for 2011 after a 17 percent increase the previous year.
Meanwhile, last week, the Council of Graduate schools reported the first decline in grad student enrollment in seven years during the fall of 2010. Before the 1.1 percent decline for this year’s incoming class, grad student enrollment had increased 3.8 annually on average. The decline is driven by declines in business and education master’s programs.
“Most masters’ students in business and education are self-funded or employer-funded, and some employers may not be offering the same tuition assistance as before,” Council of Graduate Schools spokesperson Belle Woods told the Cavalier Daily.