cost of getting a degree

College operating costs rose 3.4% in fiscal 2024 [Unglesbee]

On 12/21/2024, in business side of he, colleges, community colleges, cost of getting a degree, higher education, learning ecosystem, United States, universities, by Daniel Christian

College operating costs rose 3.4% in fiscal 2024 — from highereddive.com by Ben Unglesbee
Commonfund Institute’s latest Higher Education Price Index shows that cost spikes slowed — but that doesn’t make them any less painful.

Dive Brief:

Costs for operating a college rose 3.4% in fiscal 2024, according to the latest Higher Education Price Index from the Commonfund Institute.
The price increases outpaced Commonfund’s preliminary projections this spring of 3% for the year. However, the HEPI showed that inflation has slowed more than half a percentage point from fiscal 2023 and is down nearly 2 percentage points from 2022’s 5.2% inflation rate.
Utility prices and those for supplies and materials slowed the most significantly, after recent years of volatility in those areas. While costs for institutions are cooling, “there is an ongoing trend of inflation rates remaining elevated compared with the previous decade,” Commonfund said.

Speaking of higher education, also see:

25 Stats for 2025 — from insidehighered.com by Ashley Mowreader
Inside Higher Ed compiled two dozen–plus data points to help guide strategic decision-making and student success initiatives on college campuses.

Reflections on “US College Closures Are Expected to Soar, Fed Research Says” [Bloomberg.com]

On 12/07/2024, in 21st century, Artificial Intelligence/Agents/LLMs/and Related, assessment, business side of he, change, changing business models, colleges, community colleges, cost of getting a degree, dangers of the status quo, Daniel S. Christian, data related items, economics, faculty/staff, game-changing environment, higher education, ideas, law schools, learning ecosystem, Learning from the Living [Class] Room, legislatures / government / legal, liberal arts, new business models, parents/guardians, policy, reinvent, society, staying relevant, student-related, surviving, United States, universities, vendors, by Daniel Christian

US College Closures Are Expected to Soar, Fed Research Says — from bloomberg.com

Fed research created predictive model of college stress
Worst-case scenario forecasts 80 additional closures

The number of colleges that close each year is poised to significantly increase as schools contend with a slowdown in prospective students.

That’s the finding of a new working paper published by the Federal Reserve Bank of Philadelphia, where researchers created predictive models of schools’ financial distress using metrics like enrollment and staffing patterns, sources of revenue and liquidity data. They overlayed those models with simulations to estimate the likely increase of future closures.

Excerpt from the working paper:

We document a high degree of missing data among colleges that eventually close and show that this is a key impediment to identifying at risk institutions. We then show that modern machine learning techniques, combined with richer data, are far more effective at predicting college closures than linear probability models, and considerably more effective than existing accountability metrics. Our preferred model, which combines an off-the-shelf machine learning algorithm with the richest set of explanatory variables, can significantly improve predictive accuracy even for institutions with complete data, but is particularly helpful for predicting instances of financial distress for institutions with spotty data.

From DSC:
Questions that come to my mind here include:

Shouldn’t the public — especially those relevant parents and students — be made more aware of these types of papers and reports?
.
How would any of us like finishing up 1-3 years of school and then being told that our colleges or universities were closing, effective immediately? (This has happened many times already.) and with the demographic cliff starting to hit higher education, this will happen even more now.
.
Adding insult to injury…when we transfer to different institutions, we’re told that many of our prior credits don’t transfer — thus adding a significant amount to the overall cost of obtaining our degrees.
.
Would we not be absolutely furious to discover such communications from our prior — and new — colleges and universities?
.
Will all of these types of closures move more people to this vision here?

Relevant excerpts from Ray Schroeder’s recent articles out at insidehighered.com:

Winds of Change in Higher Ed to Become a Hurricane in 2025

A number of factors are converging to create a huge storm. Generative AI advances, massive federal policy shifts, broad societal and economic changes, and the demographic cliff combine to create uncertainty today and change tomorrow.

Higher Education in 2025: AGI Agents to Displace People

The anticipated enrollment cliff, reductions in federal and state funding, increased inflation, and dwindling public support for tuition increases will combine to put even greater pressure on university budgets.

On the positive side of things, the completion rates have been getting better:

National college completion rate ticks up to 61.1% — from highereddive.com by Natalie Schwartz
Those who started at two-year public colleges helped drive the overall increase in students completing a credential.

Dive Brief:

Completion rates ticked up to 61.1% for students who entered college in fall 2018, a 0.5 percentage-point increase compared to the previous cohort, according to data released Wednesday by the National Student Clearinghouse Research Center.
The increase marks the highest six-year completion rate since 2007 when the clearinghouse began tracking the data. The growth was driven by fewer students stopping out of college, as well as completion gains among students who started at public two-year colleges.
“Higher completion rates are welcome news for colleges and universities still struggling to regain enrollment levels from before the pandemic,” Doug Shapiro, the research center’s executive director, said in a statement dated Wednesday.

Addendum:

Attention Please: Professors Struggle With Student Disengagement — from edsurge.com

The stakes are huge, because the concern is that maybe the social contract between students and professors is kind of breaking down. Do students believe that all this college lecturing is worth hearing? Or, will this moment force a change in the way college teaching is done?

Adapting to the future | Educause

Institutions are balancing capacity issues and rapid technological advancements—including artificial intelligence—while addressing a loss of trust in higher education.

To adapt to the future, technology and data leaders must work strategically to restore trust, prepare for policy updates, and plan for online education growth.

Hopping on the Affordability Bandwagon [Knox]

On 11/27/2024, in business side of he, change, changing business models, colleges, cost of getting a degree, higher education, parents/guardians, student-related, United States, universities, by Daniel Christian

Hopping on the Affordability Bandwagon — from insidehighered.com by Liam Knox
Five selective colleges launched strikingly similar student aid initiatives last week for low- and middle-income students. What’s behind the frenzy to boost financial aid?

The announcements have come pouring in at a time when public resentment of elite institutions has reached a fever pitch, doubts about the value of college are at a historic high and the impact of the Supreme Court’s affirmative action ruling on demographics is becoming clear. And after last year’s bungled FAFSA rollout, families are warier than ever of financial aid promises.

“We know what’s going on with confidence in higher education, and one element of that is increasing cost and increasing debt levels,” said James Milliken, chancellor of the UT system.

It’s part of a broader marketing and recruitment effort to raise awareness of the financial aid resources at colleges with staggeringly high sticker prices—she calls it a “clear cost” initiative. And as more colleges expand financial aid, it creates a domino effect among peer institutions looking to compete for highly qualified applicants from lower income brackets, she said.

Tania LaViolet, director of research and innovation at the Aspen Institute

What DICE does in this posting will be available 24x7x365 in the future [Christian]

On 11/20/2024, in 21st century, 24x7x365 access, adjunct faculty, adult learning, Artificial Intelligence/Agents/LLMs/and Related, business, career development, changing business models, colleges, communities of practice, community colleges, content development, aggregation, repositories, corporate / business world, corporate universities / corporate training, cost of getting a degree, Daniel S. Christian, digital learning, distance education, education technology, elearning, emerging technologies, entrepreneurship, experimentation, faculty/staff, future, future of higher education, game-changing environment, global / globalization, heutagogy, higher education, homeschooling/homeschoolers, human-computer interaction (HCI), ideas, innovation, instructional design, intelligent systems, intelligent tutoring, internet, K-12 related, law schools, learning, learning agents, learning ecosystem, Learning Experience Design, Learning from the Living [Class] Room, learning hubs & pods & microschooling, learning preferences, learning spaces, liberal arts, library / librarians, lifelong learning, MBA, microlearning, multimedia, Natural Language Processing (NLP), neurodivergent/special needs, new business models, online learning, online media, online tutoring, personalized/customized learning, platforms, productivity / tips and tricks, remote teaching and learning, skills, staying relevant, student-related, surviving, teachers, teaching & learning, teaching online, technologies for your home, training / L&D, universities, vendors, videoconferencing, virtual field trips, virtual K-12 schools, Virtual Reality (VR) / worlds / learning, virtual tutoring, vision/possibilities, vocational / trades, voice recognition / voice enabled interfaces, web-based collaboration, Web3, webinars, workplace, by Daniel Christian

From DSC:
First of all, when you look at the following posting:

What Top Tech Skills Should You Learn for 2025? — from dice.com by Nick Kolakowski

…you will see that they outline which skills you should consider mastering in 2025 if you want to stay on top of the latest career opportunities. They then list more information about the skills, how you apply the skills, and WHERE to get those skills.

I assert that in the future, people will be able to see this information on a 24x7x365 basis.

Which jobs are in demand?
What skills do I need to do those jobs?
WHERE do I get/develop those skills?

And that last part (about the WHERE do I develop those skills) will pull from many different institutions, people, companies, etc.

BUT PEOPLE are the key! Oftentimes, we need to — and prefer to — learn with others!

New Study Reveals Keys to Re-Engaging the 41.9 Million Americans with Some College, but No Credential [StraighterLine]

On 10/17/2024, in adult learning, career development, change, changing business models, colleges, communications, community colleges, cost of getting a degree, engagement / engaging students, higher education, learning ecosystem, society, student-related, United States, universities, by Daniel Christian

New Study Reveals Keys to Re-Engaging the 41.9 Million Americans with Some College, but No Credential — from globenewswire.com by StraighterLine
Students’ Perception of the Value of a Degree Drops 50% After Stopping Out

Key Findings Included:

Financial Barriers Remain Significant. 58% of respondents note their current financial situation would not allow them to afford college tuition and related expenses. 72% cite affordable tuition or cost of the program as a necessary factor for re-enrollment.
Shifting Perceptions of Degree Value. While 84% of respondents believed they needed a degree to achieve their professional goals before first enrolling, only 34% still hold that belief.
Trust Deficit in Higher Education. Only 42% of respondents agree that colleges and universities are trustworthy, underscoring a trust deficit that institutions must address.
Key Motivators for Re-enrollment. Salary improvement (53%), personal goals (44%), and career change (38%) are the top motivators for potential re-enrollment.
Predicting Readiness to Re-enroll. The top three factors predicting adult learners’ readiness to re-enroll are mental resilience and routine readiness, positive opinions on institutional trustworthiness and communication, and belief in the value of a degree.
Communication Preferences. 86% of respondents prefer email communication when inquiring about programs, with minimal interest in chatbots (6%).

“College competition & operational pain are the ‘new normal,’ S&P says” [Unglesbee] + other items re: higher ed

On 10/14/2024, in adjunct faculty, business side of he, colleges, community colleges, cost of getting a degree, faculty/staff, higher education, learning ecosystem, liberal arts, neurodivergent/special needs, parents/guardians, student-related, teaching & learning, United States, universities, by Daniel Christian

S&P: Community colleges lifted by improved enrollment and finances — from highereddive.com by Ben Unglesbee

Dive Brief:

With enrollment trends improving and state appropriations increasing, the community college sector has reason for “optimism,” according to a recent report from S&P Global Ratings.
For 2023, median full-time equivalent enrollment, at 5,439 students, was down just 0.3% from 2021 and up nearly 8.1% from the previous year, S&P found among the roughly 200 community colleges it rates. That comes after enrollment in the sector fell 7.7% year over year in 2022,.
Meanwhile, median state appropriations per FTE student for the sector increased 19.1% to $4,930 between 2021 and 2023, analysts found.

College competition and operational pain are the ‘new normal,’ S&P says — from highereddive.com by Ben Unglesbee-
Margins are down, costs are up and tuition revenue is constrained after the pandemic exacerbated existing challenges, according to a recent report.

Dive Brief:

U.S. colleges face a “new normal” and accelerated existing challenges in the wake of the COVID-19 pandemic, including constrained operations and heavy competition, a recent report from S&P Global Ratings found.
Between 2018 and 2023, operating margin rates fell from 0.8% to -0.1% amid rising costs to colleges, according to S&P. Meanwhile, median tuition discount rates at private colleges rose by more than 5 percentage points, to 44.4%, in that period, putting pressure on college revenues.
From 2019 through the second quarter of 2024, the ratings agency issued 126 credit downgrades for the higher ed sector, compared to 62 upgrades, per the report.

5 ways colleges can improve outreach to rural students — from highereddive.com by Laura Spitalniak
Students from small towns help strengthen campus communities, said panelists at the National Association for College Admission Counseling’s conference.

We cannot just swoop in and take the best and brightest and just say, ‘Oh, good job us.’ We want this to be a two-way highway, not a one-way brain drain.

Marjorie Betley
Deputy director of admissions at the University of Chicago

A Trauma-Informed Teaching Framework for Stewards — from scholarlyteacher.com by Jeannette Baca, New Mexico Highlands University; Debbie Gonzalez, California State Polytechnic University, Humboldt; Jamie Langlois, Grand Valley State University; and Mary Kirk, Winona State University

Using the Trauma-Informed Community of Inquiry (T-I CoI) framework as a pedagogical design helped us address students’ emotional stress and facilitated cognitive growth and connection to the learning process. It also provided an opportunity to create a sense of community within an online learning environment. When we returned to in-person instruction, the model continued to be beneficial.

Average Student Loan Debt — from educationdata.org by Melanie Hanson; last updated August 16, 2024

Report Highlights.

The total average student loan debt (including private loan debt) may be as high as $40,681.
The average federal student loan debt is $37,853 per borrower.
Outstanding private student loan debt totals $128.8 billion.
The average student borrows over $30,000 to pursue a bachelor’s degree.
A total of 42.8 million borrowers have federal student loan debt.
It may take borrowers close to 20 years to pay off their student loans.

From DSC:
In other words, we are approaching the end of the line in terms of following the status quo within higher education. Institutions of traditional higher education can no longer increase their cost of tuition by significantly more than the rate of inflation. Increasingly, K-12 students (and families) are looking for other pathways and alternatives. Higher ed better stop trying to change around the edges…they need new, more cost-effective business models as well as being able to be much more responsive in terms of their curricula.

Students at This High School Do Internships. It’s a Game Changer — from edweek.org by Elizabeth Heubeck

Disengaged students. Sky-high absenteeism. A disconnect between the typical high school’s academic curriculum and post-graduation life.

These and related complaints about the American high school experience have been gathering steam for some time; the pandemic exacerbated them. State-level policymakers have taken note, and many are now trying to figure out how to give high school students access to a more relevant and engaging experience that prepares them for a future—whether it involves college or doesn’t.
…
After a slow start, the school’s internship program has grown exponentially. In 2019-20, just five students completed internships, mainly due to the logistical challenges the pandemic presented. This past year, it grew to over 180 participating seniors, with more than 200 community organizations agreeing to accept interns.

How Do Today’s High Schoolers Fare As They Enter Adulthood? View the Data — from edweek.org by Sarah D. Sparks

Even when students have access to high-quality dual-credit programs, they often do not get guidance about the academic and workplace requirements of particular fields until it’s too late, said Julie Lammers, the senior vice president of advocacy and corporate social responsibility for American Student Assistance, a national nonprofit focused on helping young people learn about college and careers.

“We need to start having career conversations with young people much earlier in their trajectory, at the time young people are still open to possibilities,” Lammers said. “If they don’t see themselves in science by 8th grade, STEM careers come off the table.”

Cost plays a big role in the decision to attend and stay in college. The Education Data Initiative finds that on average, students in 2024 racked up nearly$38,000 in debt to pursue a bachelor’s degree, with many expecting to take up to 20 years to pay it off.

Transforming Education From School-Centered to Learner-Centered
Centering Learners by Design: Shaping the Future of Education — from gettingsmart.com

What outcomes do we truly desire for young people? Many students feel that their current educational experiences do not prepare them adequately for real-world challenges. Supported by data on attendance, disengagement, and stress, it’s evident that a shift is needed. To move beyond outdated school-centered models, we must embrace a learner-centered paradigm that fosters flexibility, personalization, and authentic community engagement. Innovative approaches like multiage microschools and passion projects are transforming how students learn by fostering real-world skills, confidence, and community engagement.

These learner-centered models—ranging from personalized projects to collaborative problem-solving—provide actionable strategies to create environments where every student can thrive. Schools are moving away from one-size-fits-all systems and embracing approaches like flexible learning pathways, mentorship opportunities, and community-integrated learning. These strategies are not only closing the gap between education and the skills needed for the future but also reshaping public schools into dynamic hubs of innovation.

Key Points

Engaging parents, youth, teachers, principals, district leaders, community members, and industry experts in the co-design process ensures that education systems align with the aspirations and needs of the community.
Transitioning from a traditional school-centered model to a learner-centered approach is critical for preparing students with the skills needed to thrive in the 21st century.

Has the cost of college reached a tipping point for a significant number of middle-class students? [Young]

On 09/27/2024, in business side of he, colleges, community colleges, cost of getting a degree, future of higher education, higher education, parents/guardians, student-related, trends, United States, universities, by Daniel Christian

Has the cost of college reached a tipping point for a significant number of middle-class students? — from edsurge.com by Jeffrey R. Young

Has the cost of college reached a tipping point for a significant number of middle-class students?

I’m seeing more signs of just that, and it’s happening at the undergrad and graduate levels.

Just this week, for instance, a new survey of 1,500 high school counselors conducted by the education consulting firm EAB found 63 percent reported that fewer students at public schools plan to attend college than four years ago. And 53 percent of those counselors said cost was the primary reason.

Meanwhile, a new study released this week by Georgetown University’s Center on Education and the Workforce found that the cost of graduate education has risen to the point where a significant number of degrees will not pay off. The center says that 41 percent of master’s degree programs and 67 percent of professional degree programs for which data was available would not pass their “debt-to-earnings test,” meaning they would not bring enough earnings to cover the cost plus interest from typical student loans.

Also see:

How Rising Higher Ed Costs Change Student Attitudes About College — from edsurge.com by Jeffrey R. Young

DSC: I agree with Brandon Busteed on this item — excellent pricing/tuition transparency!

On 09/18/2024, in changing business models, colleges, community colleges, cost of getting a degree, faculty/staff, higher education, ideas, law schools, leadership, learning ecosystem, new business models, parents/guardians, society, sociology, strategy, student-related, United States, universities, by Daniel Christian

From DSC:
The cost of obtaining a degree is heavily on my mind this morning as I’m having to withdraw funds — again — to help our son get through his senior year of college. He’s a Marine Reservist and he continues to do his best to contribute to his expenses…but man o’ man, these expenses are just crazy.

So it’s no surprise this item caught my eye! Anything colleges and universities can do to bring down the prices — as well as make the total prices more transparent and upfront — would be greatly appreciated by students and families alike.

Also related, see:

How Rising Higher Ed Costs Change Student Attitudes About College — from edsurge.com by Jeffrey R. Young

But she admits the issue is complicated. She said one of her own daughters, who is now 26, would have benefitted from a gap year. “The problem was the cost was a major factor,” Klein told me. “She was offered huge financial aid by a very good school, and I said, ‘We don’t know if you take a gap year if that offer is going to be on the table. And I can’t afford this school without that offer.’”

Risepoint Releases Voice of the Online Learner Report

On 09/12/2024, in Artificial Intelligence/Agents/LLMs/and Related, business side of he, colleges, community colleges, cost of getting a degree, higher education, online learning, parents/guardians, skills, society, student-related, United States, universities, by Daniel Christian

Risepoint Releases Voice of the Online Learner Report — from academicpartnerships.com by Risepoint; via Jeff Selingo on LinkedIn

The Voice of the Online Learner report highlights the journey of online learners, and the vital role education plays in their personal and professional growth and development. This year’s report compiled responses from over 3,400 prospective, current, and recently graduated online learners.

Key findings from this year’s Voice of the Online Learner report include:

Decision Factors for Online Students: When evaluating online programs, the key decision for students is cost, with 86% saying it’s extremely or very important. After cost, 84% said accreditation is most important, 75% said program concentrations, followed by 68% of respondents who said it was the time it took to achieve a degree. 38% selected the lowest cost program they evaluated (up from 29% in 2023).
Perception of Online Programs: Students see online programs as equally valid or better at meeting their needs than on-campus degree programs. 83% of respondents prefer the flexibility of online programs over hybrid or on-campus options, while 90% feel online programs are comparable to or better than an on-campus degree. 83% (up from 71% last year) want no on campus requirement.
Degree ROI: 92% of students who graduated from online degree programs reported tangible benefits to their career, including 44% who received a salary increase.
Value of the Degree: Career outcomes continue to be very important for students pursuing their degree.86% felt their degrees were important in achieving their career goals, and 61% of online undergraduates are likely to enroll in additional online degree programs to stay competitive.
Importance of Local Programs: Attending a university or college in the state where the student lives and works is also an important decision factor, with 70% enrolled at a higher education institution in the state where they live and/or work. These students say that local proximity creates greater trust, and that they also want to ensure the programs meet local licensing or accreditation requirements, when relevant.
Demographics: The average age for online students enrolled in undergraduate programs is 36 years old, while the average age for students enrolled in graduate programs is 38 years old. Of the students enrolled in undergraduate programs, 40% are first-generation college students.
Upskilling is lifelong: 86% of graduated and currently enrolled students are likely to do another online program in the future to upskill.
Generative AI is a concern: Students want guidance on generative AI, but 75% reported they have received none. 40% of students think it will affect their career positively and 40% believe it will impact them negatively. Nearly half (48%) have used it to help them study.

DC: Shame on you Northwestern University!

On 09/06/2024, in cost of getting a degree, culture, Daniel S. Christian, ethics, faculty/staff, hearts -- matters of the heart, higher education, liberal arts, psychology, society, sociology, United States, universities, by Daniel Christian

DC: Shame on you Northwestern University. It’s yet another example of how the U continues to move away from our far more noble roots.https://t.co/uQoxFAdTpW

— Daniel S. Christian (@dchristian5) September 6, 2024

Speaking of higher education…

Higher Ed in 4 charts — from jeffselingo-14576223.hs-sites.com by Jeff Selingo

We’ve reached the peak of high-school graduates.
The colleges in the best financial shape educate only 600,000 students.
and two others…

Majoring in video games? A new wave of degrees underscores the pressures on colleges — from usatoday.com by Zachary Schermele
From degrees in AI to social media influencing, colleges are adapting to economic trends with new majors that emphasize the debate about getting students their money’s worth.

Majors like hers are part of a broader wave of less conventional, avant-garde majors, in specialties such as artificial intelligence, that are taking root in American higher education, as colleges grapple with changes in the economy and a shrinking pool of students.
…
The trend underscores the distinct ways schools are responding to growing concerns over which degrees provide the best return on investment. As college costs soared to new heights in recent years, saddling many students with crippling loan debt, that discourse has only become increasingly fraught, raising the stakes for schools to prove their degrees leave students better prepared and employable.

“I’m a big believer in the liberal arts, but universities don’t get to print money,” he said. “If enrollment interests are shifting, they have to be able to hire faculty to teach in those areas. Money has to come from someplace.”

From DSC:
Years ago, I remember having lunch with one of the finalists for the President position of a local university. He withdrew himself from the search because the institution’s culture would be like oil and water with him at the helm. He was very innovative, and this organization was not. I remember him saying, “The marketplace will determine what that organization ultimately does.” In other words, he was saying that higher education was market-driven. I agreed with him then, and I still agree with that perspective now.

ILTACON 2024: Selling legal tech’s monorail — from abajournal.com by Nicole Black

The bottom line: The promise of GenAI for our profession is great, but all signs point to the realization of its potential being six months out or more. So the question remains: Will generative AI change the legal landscape, ushering in an era of frictionless, seamless legal work? Or have we reached the pinnacle of its development, left only with empty promises? I think it’s the former since there is so much potential, and many companies are investing significantly in AI development, but only time will tell.

From LegalZoom to AI-Powered Platforms: The Rise of Smart Legal Services — from tmcnet.com by Artem Vialykh

In today’s digital age, almost every industry is undergoing a transformation driven by technological innovation, and the legal field is no exception. Traditional legal services, often characterized by high fees, time-consuming processes, and complex paperwork, are increasingly being challenged by more accessible, efficient, and cost-effective alternatives.

LegalZoom, one of the pioneers in offering online legal services, revolutionized the way individuals and small businesses accessed legal assistance. However, with the advent of artificial intelligence (AI) and smart technologies, we are witnessing the rise of even more sophisticated platforms that are poised to reshape the legal landscape further.

The Rise of AI-Powered Legal Platforms
AI-powered legal platforms represent the next frontier in legal services. These platforms leverage the power of artificial intelligence, machine learning, and natural language processing to provide legal services that are not only more efficient but also more accurate and tailored to the needs of the user.

AI-powered platforms offer many advantages, with one of them being their ability to rapidly process and analyze large amounts of data quickly. This capability allows them to provide users with precise legal advice and document generation in a fraction of the time it would take a human attorney. For example, AI-driven platforms can review and analyze contracts, identify potential legal risks, and even suggest revisions, all in real-time. This level of automation significantly reduces the time and cost associated with traditional legal services.

AI, Market Dynamics, and the Future of Legal Services with Harbor’s Zena Applebaum — from geeklawblog.com by Greg Lambert

Zena talks about the integration of generative AI (Gen AI) into legal research tools, particularly at Thomson Reuters, where she previously worked. She emphasizes the challenges in managing expectations around AI’s capabilities while ensuring that the products deliver on their promises. The legal industry has high expectations for AI to simplify the time-consuming and complex nature of legal research. However, Applebaum highlights the need for balance, as legal research remains inherently challenging, and overpromising on AI’s potential could lead to dissatisfaction among users.

Zena shares her outlook on the future of the legal industry, particularly the growing sophistication of in-house legal departments and the increasing competition for legal talent. She predicts that as AI continues to enhance efficiency and drive changes in the industry, the demand for skilled legal professionals will rise. Law firms will need to adapt to these shifts by embracing new technologies and rethinking their strategies to remain competitive in a rapidly evolving market.

Future of the Delivery of Legal Services — from americanbar.org
The legal profession is in the midst of unprecedented change. Learn what might be next for the industry and your bar.

What. Just. Happened? (Post-ILTACon Emails Week of 08-19-2024) — from geeklawblog.com by Greg Lambert

Here’s this week’s edition of What. Just. Happened? Remember, you can track these daily with the AI Lawyer Talking Tech podcast (Spotify or Apple) which covers legal tech news and summarizes stories.

From DSC:
And although this next one is not necessarily legaltech-related, I wanted to include it here anyway — as I’m always looking to reduce the costs of obtaining a degree.

Improve the Diversity of the Profession By Addressing the Costs of Becoming a Lawyer — from lssse.indiana.edu by Joan Howarth

Not surprisingly, then, research shows that economic assets are a significant factor in bar passage. And LSSSE research shows us the connections between the excessive expense of becoming a lawyer and the persistent racial and ethnic disparities in bar passage rate.

The racial and ethnic bar passage disparities are extreme. For example, the national ABA statistics for first time passers in 2023-24 show White candidates passing at 83%, compared to Black candidates (57%) with Asians and Hispanics in the middle (75% and 69%, respectively).

These disturbing figures are very related to the expense of becoming a lawyer.

Finally, though, after decades of stability — or stagnation — in attorney licensing, change is here. And some of the changes, such as the new pathway to licensure in Oregon based on supervised practice instead of a traditional bar exam, or the Nevada Plan in which most of the requirements can be satisfied during law school, should significantly decrease the costs of licensure and add flexibility for candidates with responsibilities beyond studying for a bar exam. These reforms are long overdue.

Thomson Reuters acquires Safe Sign Technologies — from legaltechnology.com by Caroline Hill

Thomson Reuters today (21 August) announced it has acquired Safe Sign Technologies (SST), a UK-based startup that is developing legal-specific large language models (LLMs) and as of just eight months ago was operating in stealth mode.

Learning Ecosystems

College operating costs rose 3.4% in fiscal 2024 [Unglesbee]

DC: Shame on you Northwestern University!

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