http://www.charlotteobserver.com/news/politics-government/article164627677.html
TTTT News: On July 31, 2017, the Charlotte Observer published a Michael Gordon piece entitled “Federal loans set to return to struggling Charlotte School of Law.” Look at this portion:
“Charlotte School of Law’s high-stakes gamble on the Trump administration appears to have paid off, with the school announcing it is close to an agreement with the government that would restore vital student-loan money to the beleaguered school.
The resumption of the federal loans, the school says, would be effective with the fall semester, scheduled to begin Aug. 28.
If true, the loans will restore millions of dollars students can use for tuition and expenses that were cut off for most of the past academic year. The Department of Education cited the for-profit law school’s chronic failings with test scores, curriculum and admission standards when it made Charlotte Law the first accredited law school ever to be cut off from the student-loan program.
The loss of the money last year set off faculty layoffs and hundreds of student transfers. Many of the students who stayed had no way to pay for school and rent, leading faculty members to set up an emergency food bank.
Law school President Chidi Ogene accused the Department of Education of making a political decision that gave the school and its students very little time to respond. He said at the time that Charlotte Law hoped to get a more favorable hearing when the Trump administration took office. That speculation only grew when President Donald Trump picked Betsy DeVos, a vocal supporter of for-profit schools, as secretary of education.
According to the blog Above the Law, Charlotte Law also paid $50,000 to the Podesta Group to lobby government officials on the school’s behalf.
The decision to appeal now appears to have been a sound one. Charlotte Law’s recent press release said it “has been notified by the U.S. Department of Education that it is prepared to reinstate the school’s ability to award (student loans).”
The money will be made available under certain conditions being ironed out between the school and the federal government, conditions the school says it is willing to abide by but which it would not detail when asked by the Observer.” [Emphasis mine]
This school is operated by Chicago-based equity firm Sterling Capital Partners. It is rated as a fifth tier in$TTTTTiTTTTTuTTTTTion of “higher learning.” In the parlance of US “News” & World Report, it is listed as “Unranked.” Full-time tuition and fees amounted to $44,284, for the 2016-2017 academic year. What a great bargain, huh?! That is the equivalent of paying $28K for a 1986 Buick LeSabre with 317,000 miles on the odometer.
https://www.charlotteagenda.com/95597/charlotte-school-law-intends-stay-open-fall-deadlines-loom/
Prior Coverage: On July 5, 2017, the Charlotte Agenda featured an article from Jane Little, under the headline “Charlotte School of Law intends to stay open in the fall, but deadlines loom.” Take a look at this opening:
“Six months after a damning report from the American Bar Association, Charlotte’s only law school has become a shell of its former self.
The for-profit Charlotte School of Law has been forced to stop accepting new students, and the faculty count has been reduced by about 70 percent. Only about 100 students remain enrolled, down from about 750.
But it’s still limping along. Summer school is currently underway, and fall classes are scheduled to start on Aug. 28.
Still, there are a slew of upcoming deadlines and requirements the school must meet before its fate is determined.
“It’s heartbreaking what’s happening because there’s a lot of people who put a lot into this law school and a lot of people who are displaced and had their lives turned around,” said Daniel Herrera, who recently took a leave of absence from the school.
What’s next for Charlotte School of Law?
All indications are that Charlotte School of Law is fighting to be able to graduate the students currently enrolled. But there are several regulatory hurdles it faces to even be able to do that.
On June 21, the UNC Board of Governors gave Charlotte School of Law a deadline: The school has until August 1 to prove that it’s financially stable or it could lose its license to operate in North Carolina. The board also ruled that the school must come up with an ABA approved “teach-out” plan by Aug. 10 to graduate its remaining students. A teach-out plan is a contingency that helps students complete their program at other campuses if theirs closes.” [Emphasis mine]
$omehow, this agreement came just in time for it to show that it is financially stable. Does anyone think that these “legal scholars” will have trouble putting together a contingency teach-out plan, in the next week or so?
Conclusion: In the final analysis, this fifth tier cesspool has some other obstacles to overcome. However, the school has achieved its biggest objective. After all, the spigot of student loan money is the lifeblood of the “higher education” industry. How many pupils have more than $40K laying around in their couch? Plus, that is only for one year of tuition. Sadly, more lemmings will continue to enroll in this place – so long as the school can show that it is solvent. Now juxtapose that with the typical CharloTTTTTe $chool of Law graduate, who simply hopes to find a legal job making $50K – while being saddled down with $160K in non-dischargeable debt.