If you’re in law school, you probably know about law school debt. What you probably didn’t know, but maybe suspected, is that you’re a victim “of an unfolding education hoax on the middle class that’s just as insidious, and nearly as sweeping, as the housing crisis.”
"Who is the purveyor of this hyperbole?" you might ask. Well, its “the capitalist tool” herself, Kathy Kristof, writing for Forbes Magazine. In an article entitled “The Great College Hoax” appearing in the February 2 edition of Forbes, Ms. Kristof unloads on our beloved institutions of higher learning.
First, she slams the “education industrial complex” that has “cultivated the image of college as a sure-fire path to a life of social and economic privilege.”
Then, she moves on to law school. Paraphrasing Professor Richard Sander of UCLA Law, she argues that law schools “lure in minority students to improve their diversity rankings without disclosing that less than half of African-Americans who enter these programs ever pass the bar,” and that law schools “goose employment statistics.”
Professor Sander and Ms. Kristof actually make a good point regarding the employment statistics. We know law schools game employment numbers to improve their U.S. News rankings, but I wonder if any stop to think about misleading effect their “patently spurious” statistics may be having on incoming students. As Professor Sander says, it does sound a lot like a conspiracy “tinged with consumer fraud.”
All of this should lead the average, debt-ridden law school student to one big I-can’t-believe-I-didn’t-think-of-this-sooner conclusion: Forget a lifetime of loan payments. Fraud, misrepresentation, unfair competition – these are your tickets to financial freedom. Sue your school. You might win, and if you don’t, maybe they’ll give you a couple of externship units for the effort.