Monday, July 1, 2013
Third Tier Vermont Law School is Cutting More Jobs, in Response to Shrinking Class Sizes
On June 27, 2013, the Vermont Journalism Trust published a Alicia Freese piece, under the header “Vermont Law School makes more cuts as class size drops.” Check out this opening:
"Sarah Buxton, a state representative for the towns of Tunbridge and South Royalton, got some unpleasant, if not totally unexpected, news when she returned to her job at the Vermont Law School after a four-month stint at the Statehouse. Buxton’s position — assistant director of community relations and alumni affairs — was axed at the end of May, leaving the 34-year old lawmaker out of work.
Buxton’s involuntary departure is one of a number of cost-cutting decisions that the Vermont Law School has made in the past six months. The school is grappling with a trend that’s afflicting law schools almost across the board — fewer applicants are applying due to dwindling job prospects and the specter of student debt.
Vermont Law School is particularly vulnerable to financial backlash of that trend because it lacks the shield of a “mothership.” Most law schools are housed within universities, which have been able to absorb their losses."
You’re welcome, bitches. Then again, if you were not such greedy swine, you could have avoided such swift cuts to faculty and staff. Later on, the article continued:
“Starting last September, VLS enacted a plan to shrink the school in response to a tuition dollar drought that left it with a $3.3 million budget gap. The school attracted national attention last winter when it cut 12 staff positions — 10 were through voluntary buyouts and two were involuntary.
This past spring, in a quieter move, VLS whittled down its faculty. Eight professors, of the 40 who were eligible, voluntarily moved from full-time to part-time positions. Mihaly estimated that two or three other positions were eliminated when professors departed for personal reasons.
VLS has been pruning expenses elsewhere, too. It has cut down on cleaning services and changed the hours and offerings of its food service, among other changes. At one point, there were conversations about whether coffee would continue to be available in offices, according to one staff member.
An analysis by Bloomberg Business Week shows VLS had the third-highest acceptance rate in 2012, with 83 percent of applicants being admitted. [In past years, the rate has typically fallen between 60 percent and 75 percent.] That prompted The Careerist, a law job blog, to place it in the unflattering category of “law schools where your pet poodle can probably get in.” [Emphasis mine]
Hell, cheap prostitutes are more selective than the pigs at VermonTTT Law Sewer. Since the dung pit accepts 83 percent of applicants, it is CLEAR that the rats have no standards. By the way, you could put these “professors” and administrators to actual work, and have them maintain the grounds and scrub the campus toilets.
Financial Status of the “School”:
Let’s take a look at the 2011 Form 990, for Employer ID No. 23-7251952, i.e. Vermont Law School Inc. Look at lines 20-22 on the first page of this tax document. You will see that this commode - as of June 30, 2011 - only had $46,807,827 in total assets. It held $20,284,689 in total liabilities. This school had an endowment of $26,523,138. That is tiny, in comparison to most independent, ABA-accredited law schools, let alone those tied to colleges and universities.
Furthermore, the school received $36,613,766 in total revenue, for this particular tax year. This info is contained on line 12 of page one. On line 19, you will note that the trash heap spent more than it took in that year. Specifically, the pigs ran a deficit of $93,611. The school simply does not have enough assets to sustain many losses. Due to the recent smaller class sizes, it is almost certain that the endowment is even smaller now.
Pathetic Job Prospects for VLS Grads:
Gary Rosin posted a Faculty Lounge entry labeled “Full Rankings: Bar Admission Required, Full-Time, Long Term,” back on March 30, 2013. VermonTTT Law $chool ranked 153rd out of 197 ABA-accredited in$titution$. Only 45.1% of this trash pit’s Class of 2012 landed full-time, long term jobs where bar passage was required. Keep in mind that not all of those positions were traditional attorney openings.
When you click on the hyperlink for 119th “best” Vermont Law Sewer, you will be directed to the following overview, from USN&WR:
Employed at graduation: 20.7%
Median private sector starting salary: $53,500
Median public service starting salary: $45,000” [Emphasis mine]
That “placement” rate is beyond pathetic! By the way, according to US “News” & World Report, the average law student indebtedness amount - for those members of the VLS Law Class of 2012 who incurred debt for law school - was $132,337. Who in their right mind would take out an additional $132K+ in NON-DISCHARGEABLE debt, for a chance to make $45K per year?!?!
Conclusion: Vermont Law Sewer is vulnerable, because it is an independent, private commode. It is not attached to a larger college or university. As mentioned above, the school has a small endowment - and the enrollment is dropping at this garbage pile. Don’t feel bad for the “professors” who got the ax at this place. Collectively, they have financially ruined tons of students and graduates. Plus, this school will likely seek to merge with an existing university in the area.
Posted by Nando at 7:04 AM