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The number of Law School Admission Tests administered in the last year dropped by 16 percent over one year and 25 percent over two years, The New York Times reported. The drops come amid widespread reports that many law school graduates are having difficulty finding jobs for which law degrees are required, and lawsuits against some law schools for allegedly providing inaccurate job-placement data to prospective students.

"For a long time there has been this culturally embedded perception that if you go to law school, it will be worth the money," Kyle McEntee of Law School Transparency, an organization pushing for more openness about job placement, told the Times. "The idea that law school is an easy ticket to financial security is finally breaking down."