Sunday, September 7, 2014
Suffolk University Law School Pigs Up Against the Ropes
The Commode’s Buyout Offer: On August 30, 2014, Paul Caron posted an excellent piece entitled “Suffolk Law School Offers Buyouts to All Of Its Tenured Faculty.” Here is the entire text of that entry:
“Following up on last month's post, Boston Law Schools Shrink Enrollments, Faculties: Boston Globe, Suffolk University Abruptly Replaces President:
Just days before the start of the new school year, Suffolk University Wednesday abruptly replaced president James McCarthy with a year remaining on his contract, and tapped a veteran educator with a reputation for turning around struggling colleges to serve as interim leader. At an afternoon meeting, the university’s board of trustees voted unanimously to appoint Norman R. Smith, 68, who is best known for his tenure at Wagner College in New York City, where he led a small school on the brink of closing to new prominence.. ...
Given the general decline in law school enrollment, Smith said he would expect to take a “quality over quantity” approach in assembling new classes. “I don’t think there’s growth there,” he said, referring to enrollment. ...
The unexpected change in leadership comes as Suffolk seeks to stabilize its finances and attract students in the college-dense region. Facing a decline in enrollment and revenue, the university announced in June it would freeze employee salaries for the next fiscal year.
It also offered buyouts to all law school faculty members with tenure or renewable long-term contracts.
This spring, the university came under fire for requiring tenured faculty to undergo performance reviews, a shift that critics said would undermine academic freedom....
University officials, however, defended the school’s financial standing Wednesday, noting that the endowment has grown by 52 percent since 2011, and its operating surplus has increased. ... Meyer said Suffolk is on solid financial footing, but that Smith keenly understands the difficulties facing tuition-dependent schools with modest endowments.” [Emphasis mine]
Yes, ABA-accredited trash pits on solid financial ground typically offer buyout deals to every single member of their faculty, right?!?! When you read such statements from school officials, you can see why no one trusts these thoroughly dishonest bastards.
Other Coverage: On August 31, 2014, the Law School Truth Center featured a brilliant article labeled “Suffolk Latest Victim of Applicant Selfishness.” Focus on the conclusion below:
“See what you little mutinous charlatans have done? You've made Suffolk go out and bring in a 68-year old to clean up things and you've made him lose faith in law school enrollment.
For years, Suffolk could bank on a nice crop of incoming 0Ls to plop 35, 40, 45, 50k into the bank. Now, because the lemmings have completely abnegated their role in the circle of life, Suffolk is offering buyouts to people who have jobs waiting at Ropes & Gray and freezing salaries.
Karma's a bitch, Boston-area lemmings. When you've had a long and prosperous career and you decide to kick back, take it easy, and saddle the next generation with beautiful amounts of non-dischargable debt to fund your lifestyle choices (which may or may not be described as "drug dependent with women of large endowments"), don't expect any cooperation from the applicant pool.” [Emphasis mine]
It’s great to see that scambloggers and other critics of “legal education” have helped prevent untold numbers of young people from ruining their lives. We have simply provided potential law students with better information. In contrast to the law schools, we are not paid to rip off applicants and matriculants.
Prior Administrative Gluttony: According to this Boston Globe piece from November 17, 2008, Suffolk paid its “president” $2.8 million in total compensation – for 2006-2007! Peter Schworm’s article was headlined “Suffolk's Sargent tops pay scale for college presidents.” The sick, vile pig named David Sargent was also a “law professor” at the festering toilet, at the time.
The University’s Finances: In order to see how well this “non-profit, institution of higher learning” is doing, we head to the 2012 Form 990 for Employer ID No. 04-2133255. On lines 20-22 of page one of this PDF, you will see the financial data for the “university.” Total end of year assets reached $624,270,970. This amount was offset by $395,925,017 in total end of year liabilities, which led to total net assets of $228,345,953 – as of June 30, 2012. This figure is nearly $12 million more than for the year prior. However, it seems that the law school is no longer bringing in serious cash to the larger universiTTTy.
Conclusion: Avoid this stench pit as you would an HIV-infected prostitute. You will not be served well by incurring an additional $140K in NON-DISCHARGEABLE debt - for a TTT law degree. Based on the Law Student Indebtedness rankings from US “News” & World Report, the average victim from the Suffolk JD Class of 2013 took on $123,000 in student loans – and this figure does not take accrued interest into account. Nor does it include debt from undergrad.
By the way, USN&WR also rates $uffolk Univer$iTTTTy Law Sewer as a FOURTH TIER PIECE OF TRASH. Do you still want to play roulette with your future, Dumbass?!?! If you attend this garbage heap, then keep the following in mind: (a) the Northeast U.S. is FLOODED with lawyers; (b) you will need to land a Biglaw position, in order to justify the immense costs of admission; and (c) you essentially have no shot in hell, when competing against graduates from Harvard, Boston University, Boston College, Yale, NYU, Columbia and Cornell – for federal clerkships and Biglaw posts.
Posted by Nando at 4:03 AM