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

  • Thomas Henderson

    Universities, historically, were small institutions, dedicated to the pursuit of Truth, that trained the professions: doctors, lawyers, and engineers. Undergraduates generally pursued liberal arts or science: the word ‘liberal’ closely akin to the original meaning, worthy of a gentleman.

    And these gentlemen, now professionals, were compensated by lucrative careers and out of their largess, would financially invest in their alma mater, thus keeping the cost down for the next generation of professionals. It was a very close knit association.

    Meanwhile, nurses went to nursing school, clergy went to seminary, and teachers went to normal college, all candidates usually coming straight out of high school and going into careers after a couple of years. Universities educated only a very small subset of the population. As late as the Second World War, you could take a look at the enrollment and figure out who the top leaders of government and industry would be in twenty or thirty years.

    Then the 1960s happened and the doors were thrown open to the baby boomer generation and public funding became all the rage. For several decades, people could bank on the legacy of a university career. But the influx only cheapened the diplomas and drained the pubic purse. What’s more, it became less about education and more about political indoctrination. The luster lost its sheen.

    Close the monstrosities down. End the subsidies. Return the institutions to the professional elites. Then, and only then, can universities restore their past glory.

  • Hard Little Machine

    Law schools have to be politically connected to be economically viable now. They have to have a large pool of alumn who are in government now to steer money their way.