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Saturday, April 13, 2013

Bond Rating at Albany, Building for Sale at Louisiana College

From Scott Waldman, Albany Times-Union last week:

Colleges and universities spend a lot of resources ensuring enrollment does one of two things: stabilize or increase.

Albany Law School is headed in the wrong direction. The 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...  Full Story Here.

The article concludes by suggesting a "day of reckoning" may be at hand for an industry that has been focused on "relentless expansion." Well, that day of reckoning may already be visiting the Louisiana College's proposed Judge Paul Pressler School of Law that was announced in 2007 but has yet to admit a student.  Alexandria's Thetowntalk.com, a Gannett Co., reports today that the school has put the building it purchased to house the law school up for sale:

The Shreveport building Louisiana College purchased to be its law school in 2011 is now for sale.The former Joe D. Waggonner Federal Building, which was intended to house LC’s Judge Paul Pressler School of Law, is listed with Sealy Real Estate Services LLC in Shreveport.

The story does not address the proposed law school's future plans.  If opened, the law school would be the fifth in Louisiana, joining Tulane and Loyola in New Orleans and also LSU and Southern in Baton Rouge.  There is no law school in Lousiana's northern half.

Craig Estlinbaum

http://lawprofessors.typepad.com/adjunctprofs/2013/04/albany-louisiana.html

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