Law schools today give the impression they are thriving. Many have magnificent
facilities with state-of-the-art technology. Their resources are the
envy of every department in the university. Law professors are among the
best paid in the academy, with sparkling credentials, and are sought after
not just as leading academic and legal figures but also as public intellectuals,
as consultants, and for important state and federal government positions.
The first decade of the twenty-first century has been a golden age of
plenty for law schools.
Yet law schools are failing abjectly in multiple ways.
Annual tuition at over a half-dozen law schools topped $50,000 in
2011, with a dozen more poised to follow. After adding living expenses,
the out-of-pocket cost of obtaining a law degree at these schools reaches
$200,000. Nearly 90 percent of law students borrow to finance their
legal education, with the average law school debt of graduates approaching
$100,000. Many law graduates cannot find jobs as lawyers, enduring
the worst market for legal employment in decades. Paying no heed to the
adverse job market, law schools increased their enrollment in 2009 and
2010, which will send more graduates scrambling for scarce jobs three
years hence.