Some South Carolina state legislators are looking to block InfiLaw's acquisition of Charleston Law School. They've asked the state's Commission on Higher Education to nix the deal, pointing to InfiLaw's current financial situation. They argue that the company is too reliant on high-interest financing. Instead, some of the legislators are proposing that Charleston merge with an existing public college or university.
It's hard to see this proposal gaining much traction – particularly since Charleston was already a for-profit school. Still, in such a rocky law school environment, InfiLaw is surely concerned about anything that raises the costs of this transaction.
"For Profit" has no place in higher education. Period.
Blaming "for profit" law schools is a distraction, because most "non profit" law schools act in the exact same way: maximize revenue from easily available federal student loans.
Xiata: you might think that, unless you have seen the decision making processes of a for profit in action. Then you would agree it is in an entirely different zip code.
Anon,
Yes, the for profits impose oversight and rules on faculty and administrators. Wouldn't want that.
FLRE: that's funny, a scam-activist DEFENDING for profit schools. Maybe you should go caucus with the scam-bots and rethink that position.
Anon, Perhaps you should enlighten us as to how sleazy non-profit schools like New England, Cooley, Thomas Jefferson, and Hastings are different from their sleazy for profit competitors.
The difference between a "non-profit" school and a "for-profit" school is a matter of degree, not kind. Whether it's shareholders getting the money or it's accruing to highly paid deans or faculty, from a student's perspective it doesn't matter. Their debt is the same. On average, for-profits may have lower admissions standards and deliver poorer results. That's not because they are for-profit, it's because they are just new, and law school is mostly an exercise in branding and signaling.
FWIW, the immediate past dean of Thomas Jefferson is on Infilaw's national board and is a consultant to them.
Just because there are problems with non-profits and more problems with some non-profits does not make them equivalent to for profits. Believe me.
And if you think for profits imposing oversight on faculty and administrators some how benefits students, wow. Just wow. I mean, how exactly do you see benefits accruing to students? Sure they might be better able to reign in costs, but that does not benefit the students because for profits will always charge the maximum tuition the market will bear.
The only goal of those who control for profits is to squeeze as much money out of students while delivering the least possible (high revenues, low expenses).