For the first time in a long time, LSATs and law school applications seem to be down. A NY times article noted on March 20, 2012 that the number of LSAT takers has dropped from over 170,000 two years ago to less than 130,000 during the most recent test. This trend seems to be a function of both the recession and, more importantly, the immense debt carried by young lawyers upon graduation from law school. Recent college grads, upon hearing tales of $200,000 debt from friends and relatives, are beginning to look elsewhere for financial security. A slowly improving economy may diminish this trend in coming years, but lower tuition (and lower educational debt) will likely continue to be an issue.
Thanks to Brian Gibbons for his contribution to this post.