In 2003, only two colleges charged more than $40,000 a year for tuition, fees, room, and board. Six years later more than two hundred colleges charged that amount. What happened between 2003 and 2009 was the start of the recession. By driving down endowments and giving tax-starved states a reason to cut back their support for higher education, the recession put new pressure on colleges and universities to raise their price. When our current period of slow economic growth will end is anybody’s guess, but even when it does end, colleges and universities will certainly not be rolling back their prices. These days, it is not just the economic climate in which our colleges and universities find themselves that determines what they charge and how they operate; it is their increasing corporatization. If corporatization meant only that colleges and universities were finding ways to be less wasteful, it would be a welcome turn of events. But an altogether different process is going on[more inside]
Many people say that a law degree enables the holder to do virtually anything. Am Law Daily explores the logical fallacies behind this statement.
Discover Magazine posted a couple of blog entries about the law school scam as a cognitive bias and why law school tuition isn't more dispersed.
A student group has a novel idea to reduce college costs: pay nothing up front, instead paying out 5% of their income to the UC system for 20 years after graduation.
There has been an increasing outcry over the bleak job prospects facing law school graduates. Paul Campos, author of the "Inside The Law School Scam" blog, argues that continued high enrollment at law schools may be due to "lemming psychology".
Want your new law school to get accredited by the American Bar Association? Be prepared to jump through some hoops.
Professor Herwig Schlunk of Vanderbilt University explores whether a law degree is a good investment today. (SSRN link) [more inside]
Kelli went to Northeastern University and got loans to pay for her sociology degree. Her repayment schedule is featured in the article and it is not pretty. [more inside]
A third year law student at Boston College doesn't like the prospects he has after graduation, so he decided to ask the dean for a refund.
The Government Accountability Office discovered that "23% [of for-profit university graduates] default [on their student loans] after four years compared to fewer than 10% of public-university grads." Unless for-profit universities can prove at least 45% of their students repay their debts (one among a number of benchmarks,) said universities may lose federal funding.