Valparaiso Law announces major faculty buyouts as enrollment wanes. Can top law schools weather the storm?

Applications to law school may be creeping back up, but the legal profession will likely never be the automatic ticket to a middle class life it once was.

As the whole structure of the legal industry changes around them and pool of students shrink, law schools are fighting over the transfer students who remain.

For-profit law schools often leave their students with enormous debt and few if any job prospects, and they use deceit to keep profiting off of the unsuspecting. But we shouldn’t let more respectable schools off the hook either.

In a chat with 20-somethings who use Tumblr, President Obama warned them from entering the legal profession. Maybe this will finally get the attention of the law school presidents.

America still has far more would-be lawyers than the legal profession can employ, but college grads seem to have taken note: fewer and fewer are applying to law school.