Too many law students
Yesterday, there was an op-ed in the NY Times by Steven J. Harper, the author of “The Lawyer Bubble: A Profession in Crisis.”
Until student loans bear a rational relationship to individual law school outcomes, law schools will exploit their lack of accountability, the legal education market will remain dysfunctional, and equilibrium between supply and demand will remain elusive.
I believe that law schools, as well as all other types of schools, should be made responsible for paying the student loans when the students default, not the government. That would force schools to be more accountable. That was one of the implied suggestions of Harper.
I also believe that the maximum amount of loans that students are allowed to borrow should be lowered. Currently there is no cap at all on how much one is allowed to borrow for graduate school, and that has given all sorts of graduate schools free rein to unconscionably raise their tuition.