As Fewer Take the LSAT, Its Price Jumps

We've blogged about the large drop in the number of law school applicants. Not surprisingly, in the most recent cycle, the number of people taking the Law School Admission Test also dropped dramatically -- by 16%. So, hoping that demand to take the test is inelastic (among those otherwise inclined to take the test), the Law School Admisssion Council is raising the price of the test by 15%. Prior increases generally have been in line with inflation (that is, 2 to 5%). As Daniel Berstine, the Council's president puts it, "[i]t is now time for us to correct our fees in light of new volume realities, and to align them more closely with the true value of those services to law schools and their applicants."