Saturday, May 16, 2015
From the Wall Street Journal Law Blow (via Brian Leiter's Law School Reports Blog):
Last time we checked in with Pace University Law School in New York it was to report about its move to gin up more applicants: a tuition-matching program geared toward out-of-state students that in some cases knocks off more than half the price of a degree.
It wasn’t an easy decision for Pace. Like many schools struggling to fill seats, its problem isn’t simply an admissions one but also fiscal. A lower sticker price mean less operating cash, at least in the short term. And for Pace that meant its tuition sale required a painful trade-off, the details of which have just emerged.
Pace’s dean, David Yassky, has informed its faculty and staff that they’re going to have to take a pay cut. As Brian Leiter’s Law School Reports blog reports, the school is cutting professor salaries by 10% and eliminating most sabbaticals and research stipends. Law school staff are getting a 5% salary cut.
“Like virtually all law schools, we have fewer students enrolled and we’re spending a great deal more on financial aid to keep education affordable,” Mr. Yassky, a former New York City Councilman and city taxi commissioner told Law Blog on Thursday. “To keep that sustainable and to keep our education program strong, we have to reduce spending on faculty.”
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Continue reading here.