Slow economy causing jump in grad school apps

Although graduates in recent years have enjoyed attractive job opportunities, leading them to put off pursuing graduate or professional degrees, figures for this year may tell a different story.

With an uncertain job market and unemployment rates reaching 5.4 percent nationwide last month, more students may be aiming for graduate and professional schools next fall than in any time in recent memory.

Last spring, the number of students taking the LSAT, an exam required for law school applications, jumped by 18.6 percent nationwide. While admissions officers were initially uncertain if the rise in test-takers would directly translate into a larger applicant pool, Penn's Law School has since seen a 70 percent jump in applicants, according to Assistant Dean of Admissions and Financial Aid Janice Austin.

"That is incredibly extraordinary," she said. "I wouldn't have imagined we'd be in this position if you'd asked me a year ago."

Business schools may also be enjoying a similar rise in popularity this year, as 14 percent more people took the GMAT for business school this year across the country. Enrollment in Kaplan's test preparation courses are up 20 percent nationally and 70 percent in high-tech hubs, according to The Los Angeles Times.

However, admissions officers at the Wharton School say it may be too early to tell if there will be any increase just yet. In years past, admissions to the MBA program were handled on a rolling basis, but this year, applicants have three possible deadlines, the earliest of which just got pushed up to Nov. 20.

"It's very difficult to say anything this year because we've just started the process," Director of Wharton MBA Admissions and Financial Aid Rosemaria Martinelli said. "There is some evidence we may see an increase, but we also haven't seen times like these," she said, noting the impact the Sept. 11 attacks may have on foreign students applying for visas.

Last year, admissions at Wharton remained steady, despite the economic downturn and dot-com bust. Applications were up 4 percent at the Law School, which Austin speculated may have been part of a regional trend.

"Philadelphia has done a number of things to turn its image into something more positive, more attractive to graduate students," she said, adding that since the terrorist attacks, those questioning living in New York or Washington may instead be drawn to places like Philadelphia.

Though Austin expects that in the next few years, students will continue to see law school as an attractive option, she acknowledges application numbers are not the sole indicator of any school's strength.

"It's nice to feel wanted, but I've been in this business long enough to know that things ebb and flow and when they're going good, you enjoy the ride," Austin said.

Martinelli said Wharton and other schools weren't necessarily interested in a larger applicant pool.

"If you're doing your job well in admissions, you're getting the right kind of information out for people to find out if that school is right for them," she said. "I don't want more applications just for numbers, I want very competitive applications."

Both schools say there are no plans to increase class size to accommodate a potential influx of applicants.

Faced with a tighter job market and larger application pools, many seniors are nervous about their post-graduation prospects.

"It's all anybody talks about," said Sharon Fong, an Engineering senior who decided to enter the job market rather than try graduate school at this point. "I know there are lot of people who are are really stressed out, but I think in the end I'll end up with a job that may not have been my ideal job, but it's not that big of a deal."

For others, the economy has not changed their decision-making process. College senior Nathaniel Herr said he planned to apply no matter what the economic situation was, but admitted the downturn has been on his mind.

"It has been something I've been thinking about," he said.

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