At some point, the deans of law schools will have to stand up and stand against the way universities use law schools as cash cows. At some point, law deans are going to have to tell their bosses that university programs cannot be funded on the backs of law students who are already paying too much for tuition in a still terrible job market.
And you know what? Standing up for what’s right, and standing up against the blatant price gouging happening at so many law schools, will cost some people their jobs.
Law students who read this resignation letter should ask themselves if their law deans are going to the mattresses for them every day, or if the deans are just rolling over and submitting to university pressures while trying to hang onto their jobs….
UPDATE (7:15 PM): We’ve added a response from the president of the university in question after the jump.
* AOL’s attorneys at DLA Piper sent a nastygram to a Maryland blogger, alleging intellectual property infringement, based on the blog’s aggregation. Because you know, AOL/the Huffington Post has never aggregated anything. [Maryland Juice]
* Speaking of DLA Piper lawyers, just before she was found guilty of public intoxication, partner Laura Flippin was also accused of lying under oath by the judge in the case. In short, things did not go as well they could have. [The Flat Hat]
* Remember the law school martyr Phillip J. Closius? He may no longer be Dean of University of Baltimore Law, but he has not finished his crusade to improve the financial security of students. Keep fightin’ the good fight, Phil. [Baltimore Sun]
* Congratulations to the 15 firms that made the NLJ’s 2012 Appellate Hot List. Most are Biglaw shops, but three elite boutiques made the cut: Bancroft, Horvitz & Levy, and Kellogg Huber. [National Law Journal]
Perhaps there is an everlasting reward for those who won't wantonly take advantage of law students?
You might remember the story of brave Philip Closius. He is the former dean of the University of Baltimore School of Law. He gets to be called “brave” because he went down fighting for the financial security of his students and future UB Law students in the face of another university president who treated the law school like a cash cow.
Dean Closius might have lost his individual battle with University of Baltimore President Robert L. Bogomolny, but he may have won the war.
Today, Baltimore announced a plan to give its law school an extra $5,000,000 to play with….
On Friday, Dean Closius blew the lid off the way the University of Baltimore has been making money off the backs of the UB Law School, despite the down legal economy. Evidently, the UB administration took the weekend to examine its motives. Then, on Monday, UB President Bogomolny struck back hard. He sent an open letter to the U. Baltimore community (and the media), disputing Closius’s claims.
Oh, the University still takes money from the law school. A lot of it. President Bogomolny just claims that the University retains less than Closius says it does.
Yes, these kinds of “juking the stats” discussions are usually handled behind closed doors, but now we all get to see it…
* I’m flying this weekend for the first time in over a year (it couldn’t be avoided). I’ll need to brush up on what rights I still retain during air travel. As long as I acknowledge TSA’s droit du seigneur to my wife, I’m allowed to carry an unopened water bottle on board, right? [Legal Blog Watch]
* Lat imagined a future legal career for Casey Anthony that starts with a Anthony getting a GED (before clerking on the Supreme Court and becoming a law partner of Jose Baez). But doesn’t Hustler seem like something more in her wheelhouse? [Gawker]
* Have we done irreparable damage to our credit rating, unless we can prove we have a legal “fail-safe” in case a vocal Tea Party minority hijacks the entire freaking nation again? [Blackbook Legal]
Are law students being financially victimized by their universities?
It’s the not-so-veiled secret of the law school tuition game: law schools are the cash cows of the university system. University presidents, often feeling a budget crunch from a decrease in state educational funding or weak, recession-era fundraising initiatives, know they can get cash out of law schools. For some reason, law students always seem willing to pay more for the same education.
When the New York Times wrote its big exposé on law school funding, I highlighted this exact issue. The most interesting part of that Times article was the research David Segal did into how much money universities take from law school coffers. After the article went up, I wrote: “[N]obody in their right mind would pay hundreds of thousands of dollars to get additional education in some of this crap, because they know they’ll never make enough to justify the cost. The university needs to subsidize that education in some way — and so they turn to law schools.”
Apparently, we didn’t know the half of it. One brave law school dean has been asked to tender his resignation by his university president. On his way out of the door, the dean decided to shine a light on the whole ugly mess of law school economics…
A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid—it’s rare.
In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%
It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.
To get a better idea of what massive student loan debt (we’re talking over $100,000 massive) looks like, we talked to an attorney who graduated with a large student loan debt. We also consulted LearnVest Planning Services CFP® Katie Brewer to see just how their repayment plans stack up.
S. Fischer, 36, Attorney Graduated: 2001
How Much I Borrowed: $100,000
What I Still Owe: $45,000
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Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past six years. You can reach them by email: email@example.com.
Deal flow has clearly picked recently up for most US associates, counsels and partners in Hong Kong/China and Singapore. We are on the phone with a lot of these folks on a daily basis, many of whom we have known for years. Further, the head of our Asia team, Evan Jowers, and Kinney’s founder and president, Robert Kinney, frequently meet in person with leading US partners in Asia to assess their needs and keep on top of the inside scoop at as many firms as possible. The need for legal recruiting help in Asia from experienced recruiters appears to be live and well. In March, Evan and Robert were in Beijing at such meetings, in April, Evan was in Hong Kong, and for half of June Evan will be in Shanghai and Hong Kong. Thus its pretty easy for us to tell when there has been an across-the-market pick up in capital markets and corporate work.
On an average day in Asia when Evan and Robert visit firms, they typically have 5 to 9 meetings a day, mostly with US partners in the market. The reason they have these meetings is not simply because Kinney makes a lot of US attorney placements in Asia and that a particular firm may have openings; instead these are just visits with friends. After years of working together as business partners, the folks at Kinney are actually these peoples’ friends. The firms Kinney work closely with in Asia (which is just about every law firm – call us if you want to know the one firm in the world we will never place anyone with again, ever, and why) look forward to the visits, or at least act like they do. After seven years in the market, many of the client partners are former associate candidates. Also, these US partners see Kinney as a very good source of market information as well, because they know how deep their contacts are in the market and how frequently they are speaking to counterparts at peer firms.
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