To recap, the school was placed on probation for failing to accept students likely to pass the bar and failing to graduate students that were actually passing the bar. I also pointed out the absurd amount of debt students were incurring to go to this school, most of which was non-dischargable student loans that would haunt them for the rest of their lives whether they ever practiced law or not.
I may have implied this was the death knell for the for-profit law school that didn’t vet students and fed into the heyday, Wild West marketing of law schools and law degrees as something anyone could do. I touched on the fact that the school offered no real employment prospects.
Well, today the Department of Education announced that Charlotte School of Law students will no longer be eligible to receive federal student aid as of December 31, 2016. Goodbye, Charlotte, it was a hell of a ride.
Let’s face the facts, while the article states it is unclear how many of the school’s 700 students receive federal aid, the safe answer is “Fucking all of them.” Anyone who isn’t receiving federal aid to attend a for-profit, $60,000 per year, Toilet Tier law school is using their wealth the wrong way. The immediate impact will be the students still there will either a) drop out; b) try to transfer; or c) take out substantial private loans which lack all of the benefits of federal loans to cover the cost of attendance. In any case, Charlotte School of Law has, in the grand tradition of legal practitioners everywhere, screwed its clients.
There is a question as to whether or not this will be part of a larger trend. If the ABA and the Department of Education are working together to hold law schools accountable for their matriculation and graduation practices, we may start to see the field of law schools shrink to only those that can justify their existence, the pool of lawyers shrink accordingly, and a loosening of the death grip a glut of new lawyers has placed on the field of legal hiring.
Or we’ll see hard-headed students who are unable to read the writing on the wall sticking themselves in a mountain of debt with no hope of ever joining the esteemed rank of assholes like me that are members of the Bar.
I’m interested to see how this plays out.