Feb. 11 (Bloomberg) -- Law school applications appear to be headed for a 30-year low. Based on applications so far for Fall 2013, experts expect there will be about 54,000 applicants -- that's about half the number that applied in 2004.
Reasons for the slide have been well documented: lousy job prospects, huge debt loads, and large tuition increases.
While there will be enough applicants to fill first-year seats, schools below the very top tier may have to accept students with lower LSAT and GPA scores, or trim their class sizes to maintain quality.
A year ago, after a series of New York Times articles about law schools, reporter David Segal told us law school applicants "don't appreciate what debt they're taking on. . . almost none of these law students have any idea what they're getting into"
It seems they've gotten the message now, and many are choosing other careers. (Source: Bloomberg)