Will Charleston School of Law close? Announcement expected next week
Corrected: The Charleston School of Law is considering whether to admit new students in the fall amid money woes and concerns about whether the school can remain open.
The law school’s two remaining directors, George Kosko and Robert Carr, announced in a prepared statement (PDF) that they will make a formal announcement next week on whether the school will accept a first-year class of students, according to the Charleston Regional Business Journal and the Post and Courier. The Wall Street Journal Law Blog, TaxProf Blog and Above the Law noted the stories.
The school has also axed the traditional post-commencement reception, which cost $21,000 last year, the Post and Courier reported in a separate story. Student and alumni groups are trying to raise money to cover the costs.
A proposed sale of the law school to the for-profit company InfiLaw had generated controversy because of fears the new owner would lower standards. InfiLaw suspended its request to buy the school and announced in April that it had no intention to refile an application for the purchase.
Enrollment at the law school dropped 24 percent from 2010 to 2014, and revenue declined 18 percent in the same period, according to prior news coverage. But the school was profitable for its co-founders, who received $25 million in profits between 2010 and 2013.
Updated on May 8 to state that the Charleston School of Law currently has two directors. A third co-founder, Ed Westbrook, recently resigned his position on the board of directors. Two other co-founders have retired, according to the Wall Street Journal.