Is two years really enough for law school?

President Obama thinks so

New lawyer
(Image credit: Courtesy Shutterstock)

There's an old saying about law school: It scares you to death in the first year, works you to death in the second year, and bores you to death in the third.

So why not just lop off the third year? It's an idea that law school professors and administrators have been mulling lately, because rising student debt and a shrinking job market have made a career in law less appealing. And last week, during a town hall at Binghamton University to discuss tuition reform, President Obama weighed in.

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Carmel Lobello is the business editor at TheWeek.com. Previously, she was an editor at DeathandTaxesMag.com.