Another sign that law isn’t quite the select destination it once was: Columbia Law School, the nation’s No. 4 according to U.S. News and World Report, reports that applications have dropped by 27 percent since 2008, and by 12 percent since last year.

Despite that downward trend, David Schizer, dean at Columbia Law, tells NLJ affiliate New York Law Journal, ” We are incredibly spoiled [by the caliber of applicants],” adding that “there are many, many more people who would do well here than we can admit.”