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by brookside
3164 days ago
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I have no love for Flat Iron since ...well, they rejected me a few years ago when I started my code journey. However, I think this fine is somewhat bullshit. Flatiron did release all of the relevant job figures in an accurate way, even if the marketing headline was, indeed, misleading. What is the benefit for students of the school being licensed? What does that process bring to the table? I'm sure justifies the existence of some bureaucrats, but it's my understanding that truly terrible GI Bill scam schools are licensed. |
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I have friends who went to a T3 law school in the Midwest. The total cost of attendance is estimated at $62,500. The bar passage rate is around 74% (#157 nationally). On the marketing site reporting their stats, they tell prospective students that "nearly 75% [of] class of 2016 students [are] employed, pursuing further education, or not seeking employment", but when you actually dig into their ABA disclosure numbers (tucked away on a subsite, clearly obscured), you can see that only 73 of 127 grads are employed in full time, long term positions that require a JD. Since the reason most people go to law school is to get into those kinds of positions, it is more accurate to describe the employment rate as "around 54%". And from knowing some of the people graduating, I can tell you that the salary at those positions isn't great. Average starting salaries hover in the $50-55k range (self-reported, so...with a huge caveat). Given a price of $187,500, that level of bar passage, employment rate, and salary is criminal.
That's a real scam, and it's replicated all over the country in hundreds of terrible law schools, and most of them have the imprimatur of a legitimate educational enterprise via their associated universities and the tacit or explicit support of large chunks of society. And it's only now, after two decades of the problem getting worse and worse, that states are starting to crack down on the worst offenders (while the ordinary every-day criminals, like the school in the previous paragraph, are allowed to go unchecked). I would appreciate if the scrutiny being applied to bootcamps (which I think is necessary and important) was applied equally to other potentially-scammy educational enterprises, no matter how long-running the con is.