Higher ed bubble bursting: Valparaiso Law School will no longer admit new students

From Valparaiso University:

Similar to other law schools across the nation facing declining student enrollment and severe financial challenges, the Law School has faced a number of challenges in recent years as legal education struggles in response to the lessening demand for students in the legal job market. Based upon third-party projections, including the Law School’s probable continuation of significantly decreased student enrollment, it has been determined that the Law School is financially unsustainable for the foreseeable future and its continued operation could significantly impede the University’s ability to achieve its mission, vision and goals. More.

Reality check: On the whole, two lawyers can make a living in a town where one cannot, so an overall decline may be a good sign for civic life.

See also: Business prof prediction: Half of all US colleges to be bankrupt in 10 to 15 years