Law school restructures debt as admissions fall
The Thomas Jefferson School of Law has announced that bond-holders will become the owners of its law school building and that they will let the school use the premises on a lease.
The deal for the San Diego-based school reduces its debt by US$87m through the deal. Its enrolments are down 27% in the last two years. The school said in a statement: ‘Few observers predict significant growth in the near term. However, we believe the downturn is bottoming out. There are recent studies that indicate that graduations from law school and growth in the job market will reach equilibrium in FY 2017.’ Source: ABA
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