HIGHER EDUCATION BUBBLE UPDATE, LEGAL EDUCATION EDITION: Cost Cutting in an Age of Declining Law School Enrollment. “For the past four years, virtually every law school in the country has been faced with a choice: lower admissions standards, shrink the entering class size, or some combination of the two. As I have previously noted, 95% of law schools have demonstrably lowered their standards and probably the real number is pretty close to 100%. This can be seen not only by the declining LSAT numbers of entering students, but also in the fact that enrollment has not declined at the same rate as the decline in applications.”

UPDATE: Link was wrong before. Fixed now. Sorry! One day I’ll master cut-and-paste.