Friday, April 17, 2015
Loyola Law School Los Angeles Is Now Leeching Off Parent University: The $20 Million Special Payout
News of the Handout: On April 15, 2015, the Los Angeles Loyolan published a piece from senior editor Zaneta Pereira, which was headlined “LMU approves special payout for Loyola Law.” Look at this opening:
“Law school enrollment has seen a dramatic decline in the last five years.
Since hitting its peak of 52,488 in 2010, enrollment at U.S. law schools has steadily fallen, plummeting to 37,924 this year, according to the American Bar Association. Law schools around the country have adopted various strategies in order to deal with this 27.7 percent decrease.
Loyola Law School (LLS) has seized this opportunity to restructure and intentionally get smaller. LMU has also approved an approximately $20 million special payout from the University’s endowment towards student scholarships at the law school.
Senior Vice President for Business and Finance Thomas O. Fleming, Jr. explained, “The special payout follows a definite plan. It’s not just ‘take $20 million and divide it by five.’ It’s an incremental thing, and it’s reviewed each year as part of the budget process. So while a payout has been approved for next fiscal year, the finance committee will be kept fully informed, and we won’t do the payout until toward the end of the fiscal year.”
Fleming also noted that, when thinking about how to deal with the situation of falling applications to the law school, it was clear that they “didn’t want to disadvantage the undergraduate education. I know that some universities are basically asking their undergraduate tuitions to take care of their funding levels as they re-size their law schools.” [Emphasis mine]
Try and spin this story any way you like, Fleming. Sure, you “intentionally got smaller,” dolt. The fact remains that the univer$ity needs to subsidize the law school – due to declining enrollment. Remember, college$ and univer$itie$ have relied on these supposed “professional schools” as cash cows – for decades.
The Commode’s Ranking: As you can see, the Loyola Law Sewer is rated as the 75th greatest, most fantastic and amazing law school in the entire damn country – by US “News” & World Report. In fact, it only shares this distinct honor with two other ABA-accredited diploma mills. Yes, what a tremendous accomplishment, huh?!?!
Published Employment Placement Statistics: Here is the Employment Summary for 2014 Graduates of this cesspool. You will notice that there were 396 members of this gigantic-ass cohort. It’s a good thing that California – especially the southern part – doesn’t have a GLUTTED lawyer job market, huh?!?! Actually, it is THE SECOND MOST SATURATED state in the union, for attorneys.
One person did not supply his job status to the sewage plant. Another 74 were unemployed within nine months of earning their TT law degree from this stench pit. This translates to an 81.3% employment “placement” rate – i.e. 321/395 – for the Loyola Law Sewer Lo$ Angele$ JD Class of 2014. By the way, this includes part-time, full-time, long term, short term, legal and non-law positions. Plus, total of 13 grads were placed in university or law school funded posts. If you graduated from this dung pile and are now selling programs at Dodger Stadium, then you are considered “employed” – for the purpose of boosting the toilet’s statistics.
Average Law Student Indebtedness: According to USN&WR, the average law graduate from this dung heap’s Class of 2014 incurred an additional $147,701 in NON-DISCHARGEABLE debt for a TT law degree. Hell, 85% of this cohort took on such foul debt. This figure does not include undergrad loans. It also doesn’t take interest that accrues while the student is enrolled into account.
Loyola Marymount Univer$ity’s Endowment: Let’s take a peek at the 2013 Form 990 for Employer ID No. 95-1643334. As of May 31, 2013, the pile of garbage known as Loyola Marymount University had an endowment of $853,512,060. On page one of this document, you will see this meaningless platitude:
“Loyola Marymount University maintains a three-fold mission: 1) the encouragement of learning, 2) the education of the whole person, and (3) the service of faith and the promotion of justice.”
For $ome rea$on, the pigs don’t flinch when seeing the average law student indebtedness total listed above. Head to this link, and you will note that the scoundrels will charge $49,190 – in tuition alone – for the upcoming 2015-2016 academic year! After all, that’s what Jesus would do, right?!?!
Conclusion: In the final analysis, the law school is in need of assistance. Perhaps you can find it in your heart to donate what you can to this private Catholic school – which is supposedly built on the Jesuit and Marymount tradition. If you buy the story that the bastards are using this money for the benefit of law students, then you are too damn dumb to choose your own breakfast cereal in the morning. This is a mere public relations move designed to grab applicants’ attention. Do you honestly believe that all of the recipients will retain these “scholarships” for all three years?!?! The main objective is to keep the lazy, overpaid “law professors” in cushy positions for minimal “work.”
Posted by Nando at 12:02 AM