HIGHER EDUCATION BUBBLE UPDATE, LEGAL EDUCATION EDITION: W&L Law School Permanently Reduces 1L Class to 100 (Down 47% From 2012), Eliminates 6 Faculty and 6 Staff Positions, Cuts or Freezes All Faculty Salaries, and Invades Corpus of Endowment.
That last is the big news. Dipping into capital, as the famous preppy joke has it, is the one unforgivable sin. . . .