I read the article and kept thinking, hell, this sounds like what’s happening with all the lemmings enrolling in law school, racking up incredible student loan obligations, and then belatedly discovering the job-market stinks.
What about law schools?
So I read the front-page story with growing interest. I was even more excited when I read the quote from Seattle University Law School Professor Rafael Pardo who said, “If these programs keep growing, you’re going to wind up with more and more students who are graduating and can’t find meaningful employment. They can’t generate income needed to pay back their loans, and they’re going to end up in financial distress.” I thought, surely the professor is also talking about his own school. Cost of Attendance at Seattle University’s Law School approximates $53,000 for first year students. The good professor, “an expert on educational finance,” must also be consternating about his school’s graduates, too?
Well, no. The newspaper’s focus was on those technical and culinary trade schools. Also mentioned were those other well-known bastion of higher learning like ITT Technical Institute and the University of Phoenix. There wasn’t an unkind word for the non-profits who frankly, are indistinguishable from the for-profits when it comes to overpriced degrees, burdensome tuition, and over promising career results.
No, since The Times was only discussing for-profit schools, all those non-profit institutions, especially the law schools, received nary a mention despite the fact that their graduates also fit the news story’s central premise: “Critics say many schools exaggerate the value of their degree programs, selling young people on dreams of middle-class wages while setting them up for default on untenable debts, low-wage work and a struggle to avoid poverty.”
Career changes ahead.