Why the imbalance?
During a period of economic uncertainty and high unemployment, many perceive more education, including law school, to be a good investment. But the cost of a legal education (tuition, debt, jobs and salaries lost while attending law school) far outweighs the value, according to Tamanaha's research.
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The 2013 crop of prospective lawyers will be a big one despite the leap over 11 years (2001 to 2012) of law school costs which more than doubled for students at public universities and almost doubled for private school students.
Law schools are so hungry for students, the acceptance rate has climbed to 80 percent v. 50 percent in 2004 indicating “a declining quality of the pool.”
With a lot of caustic humor which made audience members laugh several times, Professor Campos said half of the 200 law schools sanctioned by the American Bar Association have “absolutely no justification for their existence.”
Rankings by U.S. News and World Report are "very superficial," McCluskey said.
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