Research Blog #3: Privatization

Just as it has had a profound effect on undergraduate studies, privatization has greatly effected graduate schools as well. Although the effects may be measured in most graduate I will be focusing specifically on law schools. Law schools are currently finding themselves on the brink of disaster. It is no secret that new lawyers are having an unprecedented difficulty in finding jobs. With such a job market and continuously soaring tuition prices, many students are choosing to forgo law school. This sharp drop off in enrollment is having a profound effect on schools. After all if schools cannot fill seats, they are losing valuable tuition money. If this current trend continues it will only be a matter of time until some schools may have to shut down. While not every issue facing law schools comes as a result of privatization, one key issue does. The cost of attending law school, just as undergraduate, has skyrocketed in the past few decades.  As the documentary “Price of Admission” mentioned the price of education has increased much faster than the average family income. One of my sources, Paul Campos’ The Crisis of American law school presents the fact that the average American family brings in only 17 dollars more in real income, that is inflation adjusted income, then they did 40 years ago.  The article also provides that in 1985 the cost of attending the average public law school was 3,746 dollars (in terms of 2011 inflation adjusted dollars) and that in 2011 the average cost to attend a public law school was 19,788 2011 dollars. This common trend amongst undergraduate and graduate schools of rapidly increasing tuition is due at least impart by privatization.