http://taxprof.typepad.com/taxprof_blog/2015/10/ny-times-a-majority-of-law-schools-admit-unqualified-students-charge-outrageously-high-tuition-and-s.html
If this sounds like a scam, that’s because it is. Florida Coastal, in
Jacksonville, is one of six for-profit law schools in the country that
have been vacuuming up hordes of young people, charging them
outrageously high tuition and, after many of the students fail to become
lawyers, sticking taxpayers with the tab for their loan defaults.
Yet for-profit schools are not the only offenders. A majority of
American law schools, which have nonprofit status, are increasingly
engaging in such behavior, and in the process threatening the future of
legal education.
Why? The most significant explanation is also the simplest — free money.
In 2006, Congress extended the federal Direct PLUS Loan program to
allow a graduate or professional student to borrow the full amount of
tuition, no matter how high, and living expenses. The idea was to give
more people access to higher education and thus, in theory, higher
lifetime earnings. But broader access doesn’t mean much if degrees lead
not to well-paying jobs but to heavy debt burdens. That is all too often
the result with PLUS loans.
More proof, all things the Government touches turns into a scam...
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