Monday, April 15, 2013
Albany Times-Union: Standard & Poor's Downgrades Albany Law School:
Albany Law School's ... enrollment has dropped 14 percent in just two years. The school now enrolls 617 students, down from 720 in the 2010-2011 academic year. That loss has caught the attention of the Standard & Poor's bond rating agency, which downgraded the school's outlook from positive to stable. Standard & Poor's said the situation at Albany Law reflected a national trend of law schools losing students and tuition income.
Weakening demand for Albany Law has decreased net tuition revenue and put significant pressure on the school's operating performance, the report found.
The report suggested that Albany Law is more vulnerable to the national trend of enrollment decline because it is not connected to a larger university. Law schools that are part of a larger university or university system were better able to absorb losses of the last few years. Schools tied to a university also can better attract students amid the shrinking market in the future because they are more able to offer bigger financial aid packages.
Law school enrollment and applications are expected to drop for several more years, so the trend at Albany Law probably not at the bottom yet, the report found.
Matt Leichter, Albany Law School’s Bond Rating Downgraded: