Wednesday, May 10, 2017
Third Tier Toilet Vermont Law School Receives $17 Million Federal Loan Via the U.S.D.A.
Flushing the Public’s Money Away: On May 7, 2017, the Vermont Digger re-published a Matt Hongoltz-Hetling piece entitled “Vermont Law School Receives $17 Federal Loan.” Take a look at the following excerpt:
“Vermont Law School officials say a $17 million loan from the federal government is helping the school to restructure debt and invest in a fundamentally different education model in which year-round and online courses offer more flexibility for students.
“The loan itself is less significant than what it’s for,” said Marc Mihaly, who plans to step down as president and dean this summer after five years of service.
While the school has been developing its online offerings for six years, there is now a renewed emphasis on the option, as part of the larger strategy to be more flexible for students.
“Our students may be on a Coast Guard ship. Or running a bank in Ohio,” Mihaly said. “They’re doing all sorts of things. They’re not going to quit their jobs and move their families to Vermont.”
The school is directly investing roughly $2.5 million of the loan into the services, staff and technology needed to support the new direction, Mihaly said.
Mihaly said U.S. Sen. Patrick Leahy, D-Vt., brokered talks between the school and the U.S. Department of Agriculture, and that the idea for a loan grew out of the USDA’s interest in investing in the educational model, which the school’s board formally adopted as a strategic plan in May 2016.
“They were attracted because we’re an economic engine, and a part of rural America that needs investment,” Mihaly said. “Also, they were attracted because there was a crisis in law schools. There was a rapid decline. We had been through that and more than stabilized.”
The loan comes after a period of financial hardship for the school, which began cutting staff and trimming expenses in 2013 to cope with a downturn in enrollment.
In 2014, Moody’s Investors Service downgraded $10.3 million in 2011 revenue bonds from Baa2 to Ba1, a rating that led VLS to technically default on a loan agreement with TD Bank.” [Emphasis mine]
Remember, this pile of garbage cut groundscrew staff before getting to the overpaid, lazy-ass “law professors.” Perhaps, a VermonTTT Law Sewer grad or two is on a Coast Guard vessel, peeling potatoes. Or scrubbing toilets clean. However, that does not justifying this expenditure to the ABA-accredited dung heap.
Other Coverage: On May 8, 2017, the Law School Truth Center covered this filth, in an entry labeled “Vermont Growing Stronger with USDA Loan.” Enjoy this opening:
“No matter how fiscally conservative you are, sometimes you have to admit that the federal government makes really good lending investments in various remote New England wealth transfer schemes.
Vermont Law School officials say a $17 million loan [at 2.4% interest! suck it, GradPlus borrowers!] from the federal government is helping the school to restructure debt and invest in a fundamentally different education model in which year-round and online courses offer more flexibility for students....
“Our students may be on a Coast Guard ship. Or running a bank in Ohio,” [President and Dean Mark] Mihaly said. “They’re doing all sorts of things. They’re not going to quit their jobs and move their families to Vermont.”
Christ no - who the hell would? That no one wants to live there shouldn't stop the location from having a thriving law school that pilfers money from all over the place and benefit small-town America by bankrolling a faculty of 135.
“[The USDA was] attracted because we’re an economic engine [eight cylinders, right? - ed.], and a part of rural America that needs investment,” Mihaly said. “Also, they were attracted because there was a crisis in law schools. There was a rapid decline. We had been through that and more than stabilized.”
Indeed, there was a crisis. If you'll recall, it lasted until about the time we stopped denying its existence. Then it was poof, a clap of the hands, finished, past tense. All stable now. (Does "more than stabilized" mean a rollover?)
For the fall of 2016, Vermont Law School enrolled a class of 139 with an LSAT 25-75 spread of 145-156 and a 25-75 GPA spread of 2.77-3.5. Its most recent bar passage rate was 60.2%. Starting cost in the fall for sticker is $261,691 per LST.” [Emphasis mine]
Somehow, there is no equivalent loan rate – from the federal government – for student borrowers. That must be a mere oversight. Then again, the dolts will lend massive amounts to young people – with no collateral.
Conclusion: VermonTTT Law Sewer is a third tier commode, located in a town with a population of 2,773 – per the 2010 U.S. Census. Specifically, it is ranked as the co-134th greatest, most remarkable, and amazing law school in the nation – by US “News” & World Report. What a pre$TTTigiou$ commode, huh?! Doesn’t a $17 million loan from the U.S. Department of Agriculture – to a weak-ass law school in such a region – strike you as excessive?!?! They don’t call this pork barrel spending for no reason, folks.
Posted by Nando at 5:49 AM