Law School Economics- Job Market Weakens, Tuition Rises

The New York Times has a long and informative article on law school. Check out this about New York Law School(N.Y.L.S.):

N.Y.L.S. is ranked in the bottom third of all law schools in the country, but with tuition and fees now set at $47,800 a year, it charges more than Harvard. It increased the size of the class that arrived in the fall of 2009 by an astounding 30 percent, even as hiring in the legal profession imploded. It reported in the most recent US News & World Report rankings that the median starting salary of its graduates was the same as for those of the best schools in the nation — even though most of its graduates, in fact, find work at less than half that amount.

Is this false and deceptive advertising? Is this mail and wire fraud? Is this conspiracy to commit RICO? Anyway, this article is well worth your time. We'd bet in a world where the federal government didn't subsidize student loans that Harvard would be charging a higher tuition than N.Y.L.S.