http://www.abajournal.com/news/article/department_of_education_flags_5_law_schools_debt-to-income_ratios_including
Five Toilets Get Flushed: On January 11, 2017, the ABA Journal published a Stephanie Francis Ward story that was headlined “Department of Education flags 5 law schools’ debt-to-income ratios, including 3 in Infilaw System.” Enjoy the following portion:
“Two for-profit law schools are not meeting the U.S. Department of Education’s gainful employment standard, which measures debt-to-earnings ratios, the agency reported Monday.
If Florida Coastal School of Law and Charleston School of Law fail the gainful employment standard again next year, they lose access to federal student aid, the National Law Journal reports.
The Infilaw System owns Florida Coastal. Two of its other law schools, Charlotte School of Law and Arizona Summit Law School, were given a “zone” rating by the Department of Education, which means the schools were close to not meeting gainful employment standards, and must pass the gainful employment standard in one of the next four years to stay in good standing.
Federal student aid for Charlotte School of Law students is already in jeopardy, after the department in December found that the school made “substantial misrepresentations” to current and prospective students regarding its compliance with ABA accreditation standards. This fall, the ABA placed the Charlotte School of Law on probation, but it remains an accredited law school.
A Charlotte School of Law spokesperson told the ABA Journal on Jan. 10 that spring semester student loan proceeds will be disbursed. A Department of Education spokesperson would not comment on whether that was correct, but he disclosed that the agency was “in conversations” with the law school about students “getting an option to participate in a teach out for next semester. ”
Western State College of Law, a California school owned by Education Management Corporation, also received a zone rating by the department.” [Emphasis mine]
Yes, InfiLaw has had one hell of a recent run, huh?!?! Still want to attend these festering stench pits, Lemming?! Do you believe that spending three years in a toilet is a wise “investment” in your future, Dumbass? Sadly, mental midgets and unemployed college grads will continue to take the TTTT plunge.
http://abovethelaw.com/2017/01/2-law-schools-fail-governments-gainful-employment-test-3-more-on-chopping-block/?rf=1
Other Coverage: On January 12, 2017, Staci Zaretsky posted an ATL entry labeled “2 Law Schools Fail Government’s Gain Employment Test, 3 More On Chopping Block.” That’s not 2 hard 4 U 2 understand, is it, prospective law student?! Take a look at this opening:
“In 2010, the Department of Education introduced a landmark initiative designed to keep students frombeing buried beneath mountains of debt after obtaining degrees that had otherwise proved to be useless when it came to securing meaningful employment. Schools that failed the Department’s gainful employment standard — a test that measures graduates’ debt-to-earnings ratios — would risk losing access to federal loan funding. Degree programs fail this test if a typical graduate’s loan payments exceed 20 percent of his discretionary income or 8 percent of his total earnings.
These regulations took effect in July 2015, and earlier this week, the Department released its first gainful employment report, and while three law schools were notified that they were in danger of failing, two law schools failed outright.
Which schools came up short?
Both Florida Coastal School of Law and Charleston School of Law flunked the Department’s gainful employment test, meaning that if they fail again next year, they will lose access to the federal student loan program. Florida Coastal’s debt-to-earnings annual rate was 21.35 percent, and its debt-to-discretionary-income rate was 34.63 percent. Charleston’s debt-to-earnings annual rate was 20.42 percent, and its debt-to-discretionary-income rate was 31.7 percent. Arizona Summit Law School, Charlotte School of Law, and Western State College of Law received a “zone” rating, meaning that they came precariously close to failing the gainful employment test, and must pass at least once in the next four years to remain in the government’s good graces.
(The Infilaw System owns Florida Coastal, Arizona Summit, Charlotte (which has already been denied access to federal student loans), and was once in talks to purchase Charleston before the deal was quashed thanks to student and faculty opposition.)
Immediately after finding out that Florida Coastal had failed the government’s gainful employment test, Dean Scott DeVito sent a lengthy email to students, questioning the validity of the gainful employment rule in the first place, and letting them know that the administration had already appealed the results. Dean DeVito also notified students that not only had Florida Coastal been trying to lower its students’ debt loads and improve its admissions criteria, but also that the school had been working to become part of a “non-profit, major university,” and had been in discussions with potential partners for the past two years.” [Emphasis mine]
The fact that the three piles of excrement that entered the “zone” rating only need to pass the test one damn time in the next four years shows you how serious the Department of Education clowns takes their own “standards.” Also, did anyone else laugh when reading that Pig Scott DeVito went into damage control immediately upon receiving the news? Yes, that shows that he and the other swine at Florida Coa$TTTTal Sewer of Law care deeply about their victims/students!
Conclusion: In the final analysis, student loans are the lifeblood of the law school scam. The pigs are able to charge $45K or more in annual tuition because the student loan scheme enhances demand and the “ability to pay.” This is why even FOURTH TIER TRASH PITS, such as all five cesspools cited in this article, get away with setting outrageous cost of attendance. You can bet your ass that the bitches and hags will place blame on others, including “lazy graduates.” Plus, the ABA cockroaches will come to the aid of their member schools. Don’t expect these leeches to be removed from the government teet for long.