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Valparaiso University Law School is offering buyouts to tenured faculty members and those with multiyear contracts due to a sharp decline in student applications and enrollment since 2010. “To put the law school and our students in the best position to succeed, we are taking steps to meet the challenges facing legal education,” Nicole Niemi, university spokeswoman, said in a statement. “The purpose is to align the size of the faculty with the expected future law school enrollment.”

The university attributes its numbers to broader issues facing law schools, including mounting student debt, the shifting job market for those with law degrees, increased competition among law schools for highly qualified applicants and declining bar passage rates. Valparaiso has 21 tenured law professors and six contract law professors, and an incoming fall law class of 133 students, the Post-Tribune reported. Previously incoming classes numbered about 150 or 160 students, according to the Post-Tribune. Buyouts will be finalized by the end of the month.