About a decade ago, a bevy of (somehow) ABA-accredited for-profit law schools convinced thousands of would-be lawyers to enroll, but year after year, these high-cost cash cows produced dismal employment statistics and bar exam pass rates.
One by one, faced with numerous accreditation issues and even inquiries that got their federal student loan funding pulled, these schools closed their doors. At the end of the day, just two for-profit schools were left standing — and that number may soon be dwindling even further.
Reuters has the details on America’s remaining for-profit law schools:
Keeping Law School Accessible When Federal Loans Fall Short
As federal borrowing caps tighten financing options for law students, one organization is stepping in to negotiate the terms they can't secure alone.
Charleston School of Law is currently seeking to become a nonprofit.
That change would leave just one American Bar Association-accredited for-profit law school in the country: Western State College of Law at Westcliff University in Irvine, California, which has about 300 students. Law dean Marisa Cianciarulo said on Monday she was unaware of any plans to change the school’s for-profit status.
Charleston Law recently asked the ABA to approve its change to a nonprofit. If and when that occurs, the school will seek approval from the Department of Education as well as the South Carolina Commission on Higher Education to finalize its plans.
Is Western State ready to become the Blockbuster of for-profit law schools? It sure seems like it. At the very least, the school could be kind and rewind on student loan debt.
For-profit law schools, once flourishing, are nearly extinct [Reuters]
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Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter and Threads or connect with her on LinkedIn.