Wednesday, May 10, 2017

Third Tier Toilet Vermont Law School Receives $17 Million Federal Loan Via the U.S.D.A.


https://vtdigger.org/2017/05/07/vermont-law-school-receives-17-million-federal-loan/

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.

http://lawschooltruthcenter.blogspot.com/2017/05/vermont-growing-stronger-with-usda-loan.html

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.

36 comments:

  1. South Royalton is a hell of a lot smaller than 2773 people: it's not even incorporated. I've been there. There's nothing but the toilet school, a gas station across the street that sells maple-tapping buckets on the side, and a little row of nondescript shops behind the toilet school. The nearest grocery store is half an hour away—in New Hampshire.

    Furthermore, the law skule is the town. It does not support any "community"; it is the fucking community.

    Go ahead and write off that "loan", another massive rip-off of the public purse.

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    1. Yes, this is $17M being spent for no other reason than to keep afloat a school that serves no good purpose (other than salaries for its employees and as a feeder for a few businesses in the town).

      Look at the town on Google Earth. The school is part of about 6 square blocks of homes and businesses. Across the river are about 6 more square blocks, including the gas station you mentioned. No way this state is going to provide attorney jobs for 139 more new JD's every year--or that they will have a decent shot at getting jobs in NY, MA, etc.

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    2. Those maple tapping buckets have pictures painted on them so they can be used as decorative accents. Serious sugaring operations nowadays use rubber tubing that brings the sap downhill by force of gravity, smaller tubes flowing into larger and larger tubes, reducing labor costs.

      Make-believe sugaring equipment sold across the street from where they sell make-believe career opportunities.

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  2. That stream of shit coming outta that buffalo's asshole represents this loan to this law skool. If the skool ever closes up shop that loan will be written off. JDs don't have that option.

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  3. "Our students may be on a Coast Guard ship."

    Sure, after they've jumped head-long off a bridge!

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    1. That's the alumni you're talking about.

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  4. It's hard for people who don't live in New England to get this stuff. Virtually all of Vermont is incorporated. The whole state is divided into towns, some of which have adopted a city form of government, but there are a couple of towns that have no inhabitants or just a few and thus do not maintain local governments. South Royalton is part of the incorporated Town of Royalton, which has an overall population of 2773. Of those, the census bureau says 694 live in South Royalton and my guess would be that that is the number of people who get their mail through the South Royalton Post Office.

    But in the end, this loan looks to be mostly a refinance, so all it will do is free up some cash flow due to a lower interest rate, with a negligble effect on the local economy beyond keeping the toilet afloat a while longer.

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  5. Throwaway AttorneyMay 10, 2017 at 3:08 PM

    The Department of Agriculture loaned a bottom-feeder law school $17M? This comes across as some seriously shady third-world kind of fuckery. Taxpayers probably won't get paid back.

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    1. Drop "probably" and I'm with you all the way.

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  6. Dig this!

    http://www.ourherald.com/news/2013-10-17/Front_Page/Law_School_Founder_Doria_Is_Dead.html

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    1. It's fitting the founder of this shit heap left behind lots of liens, bills, and had evaded taxes. He was even kicked off VLS when it was discovered he was convicted in 1959 for a land deal.

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    2. Look at that pretentious ass. Demanding to be called "Count" because his father allegedly was a papal knight. Yet Mr. Nobility couldn't pay his bills and ended up in a little unincorporated crossroads in Vermont. Even the toilet school distanced itself from him after the first year.

      And what's this about buying 325 cases of Italian wine for $6516? Hell, Thunderbird would cost more than that.

      A local judge, 44 years ago, had the good sense to observe that "Vermont doesn't need a law school". That was true then and is true in spades now.

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  7. This dean thinks if you are in the Coast Guard, a job that provides:

    -pay increases based on years of service
    -pay increases with every promotion to a higher rank
    -health insurance
    -a $400,000 life insurance policy
    -tax free housing/housing allowance
    -tax free meals/meal allowance
    -tax free allowance for dependents
    -a pension and health insurance for life after 20 years of service
    -and the GI Bill, which can be transferred to family members after 10 years of service,

    then you should use your GI Bill, or borrow six figures in student loans, to take online classes at this putrid law school. Working in shit law or document review will not provide benefits anywhere near what members of the Coast Guard receive. Makes perfect sense, if you are a dean or law professor trying to find any remaining suckers willing to help subsidize their six figure salary.

    Lemmings, you probably think after getting rejected for every legal job, you can just apply to become a JAG. Guess what, JAG’s don’t get paid a higher salary in the military. You will make the same as most of the other officers, who may only have an undergrad degree (they will also have saved themselves +$100k that could be used on other things like a home). The military sure as hell doesn’t think law degrees convey a million dollar premium over an undergrad degree, like law professors want you to believe. The military has no fear that you will leave for a higher paying job. They have plenty of applicants trying to enter JAG. Doctors, dentists, and pilots receive extra pay, because those are the professionals that are hardest to retain. That tells you what the military thinks of lawyers. And in the officer ranks of any of the military branches, they respect the line officers a whole lot more than the JAGs. So good luck with that career path.

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    1. The Coast Guard is a gateway to the exciting and highly remunerative field of Law & Dolphins, which offers abundant opportunities in landlocked Vermont.

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    2. What is your source for this info? I have found that commanders/senior staff treat Judge Advocates with respect - particularly if the JA in question is any good at doing the paperwork to chapter out people who misbehave. And just like the Coast Guard that you mentioned, Judge Advocates get a pension for life after 20 years. For most people, that'd mean retiring at around 45.

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    3. The pay information is publicly available on the DFAS website.

      For instance, doctors can earn up to an extra $75k a year, depending on their specialty, under the Medical Officer Incentive Special Pay. Dental officers can also receive up to an extra $12k per year. Doctors and dentists can also earn up to an extra $6k a year if they are board certified. There are also substantial bonuses paid to medical professionals. Certified Registered Nurse Anesthetists are authorized an extra $50k for a 12 month active duty service agreement. Pharmacists are also entitled to special pay and bonuses. Even though lawyers have an advanced degree, they are not entitled to any extra professional pay.

      Take a look at the incentive pay outside of the Medical Corp. Aviators are entitled to an extra monthly payment based on years of service. Plus, aviators are authorized Aviation Continuation Pay once they complete their service obligation. They can receive up to $25k a year extra to remain on active duty. Pilots receive the same basic pay as any other officer, such as Judge Advocates. But the pilots are entitled to a significant amount of incentive pay, despite only having an undergrad degree. There is extra pay for other specialties as well. Nuclear qualified Navy officers can receive up to $30k extra a year after completing their obligated service.

      Judge Advocates can receive a retention bonus. The retention bonus that Judge Advocates can receive is capped at $60,000 over a career. Compare that to reenlistment bonuses that can reach up to $90k for other specialties (and are not capped over a career). There are comparable bonuses to retain officers in other specialties as well.

      True, Judge Advocates can get a pension after 20 years of service and retire in their 40s. But so can every other officer with an undergrad degree.

      Chaptering out shit bags from the military requires very little skill for a Judge Advocate. The chain of command tells you they want a shit bag kicked out. The paperwork is completed by a paralegal who fills in the blanks on a template. Then the commander signs off on kicking the shit bag out of the military. The Judge Advocate can speed up the process by making phone calls to the hospital, transitions, etc, to get the shit bag outprocessed faster. But that also depends on the people you are dealing with at your military installation.

      Those commanders also turn on you real quick when you tell them they can’t do something because it violates the law or regulation. They don’t like to be told how to spend unit money. The military also likes to do crap, like telling everyone to participate in giving to a charity or joining an organization. If you don’t play along, you are told you will have to see a high ranking commander or senior enlisted person to explain why you aren’t a team player. I’ve seen an O-6 (a senior commissioned officer in the military) Staff Judge Advocate tell a unit that this practice was illegal. Shortly thereafter, an E-9 (a very senior enlisted person in the military) showed up at the OSJA and screamed at the O-6 in front of everyone. The O-6 yelled back. They had a shouting match. This was a blatant violation of the UCMJ by the E-9, for disrespecting a commissioned officer. Nothing happened to the E-9, because that person had the backing of the entire chain of command. In the military, the commanders decide on taking criminal or administrative action for misconduct, not the Judge Advocates.

      Good luck trying to make your commanders happy by sucking up to civilian employees, to get those chapters moving quicker. Have fun trying to convince your commander that they are spending money illegally, or their action violates rules and regulations.

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    4. 10:26, It sounds to me like your experience was atypical. The Judge Advocates that I observed were always treated well. Too well, even.

      I get it that doctors earn more in the military than lawyers, get promoted faster, etc. I wouldn't advise someone to go to law school today with JAG as an aspiration. But for someone already stuck with a law degree, the JAG Corps is a fairly good outcome - better, I would say, than many of the law firm jobs that evaporate from time to time, require constant hustling, etc. I hear it's difficult to get hired by the JAG Corps now (especially with the Air Force or Coast Guard), but if you get a foot in the door, it's a steady, paying full-time job - right?

      In the military, it's up or out, and making it to 20 years and retiring is not a given. The lawyers are more likely to last 20 years than the line officers. The line officers get held to tougher standards, from what I've seen.

      What, did you join the JAG Corps and get shown the door after 8 years or something? If so, that's still eight years of steady paychecks, with an additional check on top of it to cover living expenses. For eight years. You think anyone reading this page would take that deal?

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    5. Eight years in JAG would be useless for finding other work in law.

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  8. https://www.lstreports.com/schools/vermont/admissions/

    Let’s go over to Law School Transparency, to take a look into VermonTTT Law Sewer’s admi$$ion$ practices. For the class entering in Fall 2016:

    25th percentile LSAT: 145
    50th percentile LSAT: 150
    75th percentile LSAT: 156
    25th percentile UGPA: 2.77
    50th percentile UGPA: 3.16
    75th percentile UGPA: 3.5

    First year enrollment was 139 at this cesspool. Now, we will look at the numbers for the class that entered Fall 2010 – which had a first year enrollment of 212 suckers:

    25th percentile LSAT: 153
    50th percentile LSAT: 156
    75th percentile LSAT: 159
    25th percentile UGPA: 3.13
    50th percentile UGPA: 3.35
    75th percentile UGPA: 3.55

    Do you see a difference?!?! At this rate, the school will start admitting waterheads with 141 and undergraduate GPAs of 2.6, in greater numbers. Keep in mind that you can major in garbage, in order to bolster your grade point average. You can also graduate from state schools that essentially have open admissions policies. ABA-accredited toilets are not to stringent on where you earned your Bachelor’s degree.

    Yet, the mouthbreathers who end up at Third Tier Vermont Law Sewer cannot manage to crush do that well in undergrad. And these poor fools think that they are qualified to represent paying clients in legal matters?!?! But the school is certainly happen to saddle them down with outrageous sums of NON-DISCHARGEABLE debt – for the “education.”

    https://www.lstreports.com/schools/vermont/

    Employment Score for 2015 Grads: 45.7%
    Under-Employment Score for 2015 Grads: 32.7%
    2015 Bar Passage Rate: 60.2%
    Non-Discounted Cost for 2017 Start: $261,691

    Still want to take the TTT plunge, cretin?!?! You would be much better off remaining in your middling job, making connections, and working your way up. Frankly, you might need to kiss some influential asses – including those of the Boomer pig ilk and other reprehensible human beings. Attractive females still have the route of blowing their way to the top. It’s not pretty, but that is the way of the world. This is not an option to men.

    At any rate, if you refrain from kissing up and laughing at non-funny jokes from supervisors, expect to be held back in your job or field. However, that is also the case if you want to be a licensed attorney. Brown-nosing runs rampant there, from senior associates, managing partners, to politicians in silly black robes. Ask yourself whether accumulating another $140K+ in student loans – to end up in a worse situation – is worth it to you, or to your future spouse or family. Just realize that if you are considering any TTT, then you are not special - and you are not irreplaceable to any organization.

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    1. The bottom 25% LSAT numbers are horrendous. VLS obviously decided that it was going to do whatever it had to do to keep enrollment numbers up. So it filled out its entering class with a bunch of morons who, at a different time, would never have been allowed to advance beyond community college. And keep in mind, given their low scores, most of those dumb suckers are probably paying full freight to attend this cow turd school.

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    2. Horrendous though they are, they're better than those of many other toilets. That's why Vermont Law Skule just barely falls into Tier 5 (by Old Guy's classification), rather than the lowest tier (Tier 6).

      Vermont Law Skule isn't even good in its own region. Bear in mind that New England has two Tier 1 law schools and that neighboring New York State has three in Tiers 2 and 3. Graduates of any of those would be much more desirable than graduates of Vermont Law Skule.

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  9. Holy shit. Actually U.S.D.A Grade A bullshit. The Department of Agriculture is bailing out law schools now? What is their reasoning? Well, Vermont is kind of rural and "agriculture is mostly rural. Makes sense to me. What's next, subsidizing law school tuition to keep prices stable, the way they do milk and other stuff?

    Does the Trumpster know about this? Should the head of the USDA be the next one who is sent packing?

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  10. Remember a few years ago, when the law school pigs said, “now is the best time to go to law school!” By 2016, there will be a shortage of law grads! A JD alone is worth $1 million dollars over a Bachelor’s degree. Then there was the most recent nonsense from lunatic Steve Diamond. He claimed that Orange County was a booming legal market.

    Well, the employment results for the class of 2016 came out. The number of grads in FT, LT, BPR jobs decreased yet again, from 23,895 to 22,874 (a 4% decline). The number of grads in FT, LT, “JD Advantage” jobs declined from 4,416 to 3,948 (an 11% decline). Overall, nearly 73% of grads had FT, LT, jobs that required a JD or supposedly preferred a JD.

    Even though over 25% of grads failed to obtain any kind of FT, LT, legal related work 10 months after graduation, Pig Barry Currier actually claimed, “The data show that the job market has stabilized...It is important to remember in studying these outcomes that they are a snapshot taken about 10 months after graduation. Graduates will continue to find employment after that date...”

    Hey pig, why don’t the law schools put their money where their mouth is? Law schools could offer to pay the interest on student loans while grads wait to finally get a legal job. Law schools would never do that. They know that many of these grads will never get any kind of legal job.

    http://taxprof.typepad.com/taxprof_blog/2017/05/aba-releases-class-of-2016-employment-data-number-of-law-grads-down-7-leading-to-percentage-increase.html

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    1. "Graduates will continue to find employment after that date"—well, of course, you fucking scamster. But that's cold comfort to the many who have already been out of work (or out of relevant work) for ten months. They probably won't ever find a job in law, never mind a good job.

      Even if the job market had stabilized, it would be horrible.

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  11. Sorry to post off topic but you need to do a column about rate my professors removing posts critical of professors. A Hofstra student, not me, posted a critical post about Barbara Barron of Hofstra Law Commode.She complained and RMP took it done.I thought the purpose of RMP was to distribute criticism of professors so that students would know to avoid them. If professors can have critical posts removed just because they are critical what purpose does RMP serve?

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    1. Perpetuates the scam.

      Delete
  12. I keep reading these abysmal Feb. bar exam results come out. Today, Arizona reported a 41% pass rate. When will Trump fire the head of the DOE and revoke the ABA's accreditation powers? Law schools are admitting morons who can't even pass the facile MPRE, much less the MBE/State bar exams. This despite the impetus to dumb down the exam in recent years.

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  13. https://vtdigger.org/2017/05/10/3-vermont-law-school-students-earn-leadership-positions-national-black-law-students-association/

    Check out this Vermont Digger release on May 10, 2017. It is entitled "3 Vermont Law School Students Earn Leadership Positions in National Black Law Students Association." Try not to laugh too hard as you read this portion:

    "Three Vermont Law School students were recently named to the Executive Board of the National Black Law Students Association (NBLSA), bringing VLS student representation on the board to an all-time high. The new NBLSA leaders are National Director of Programming Alexis Agredo JD’18, National Chief of Staff Brittmy Martinez JD’19, and National Director of Pre-Law Phanuelle Duchatelier JD’18.

    “Alexis, Brittmy, and Phanuelle work tirelessly to uphold the noble values of the National Black Law Students Association,” said NBLSA Director of Marketing Jordan Gaither JD’17, a former president of the VLS BLSA chapter. “I know each of these powerful women will far exceed their expectations and obligations, and that they will continue to serve their local VLS BLSA chapter as well.”

    “It is truly a blessing to see VLS breaking barriers and pioneering the path of success,” said Gaither, who will begin work at the Dekalb County District Attorney’s Office in Georgia in the fall. “Our BLSA members are trailblazers for truth and engineers for justice.”

    As national director of programming, Agredo will develop, employ, and evaluate programs that align with the goals of NBLSA and work with regional chairs to develop and coordinate uniform programs to further the goals of NBLSA. Agredo brings a unique perspective to this position having previously worked with nonprofit organizations in Atlanta, Ga.; as a team leader for the SPEAK Vermont Prison Debate Initiative; as an Arthur Liman Public Interest Fellow; and as a student clinician at the Food and Agriculture Clinic at VLS. This summer Agredo will work at the Vermont Human Rights Commission and, in the fall, as a judicial clerk at the Fulton County Superior Court in Georgia.

    Martinez, as national chief of staff, will assist the national chair in the execution and implementation of various NBLSA goals tasked to the Executive Board. Martinez brings significant leadership experience to her role; she is a social justice activist, former VLS BLSA board member, and legal technology scholar. Beginning in the fall, Martinez will serve as an ambassador to new VLS students, Student Bar Association (SBA) senator, and Black Lives Matter Vermont board member.

    As national director of pre-law, Duchatelier will create pre-law collegiate chapters of NBLSA and keep the board and all NBLSA members informed of the status of the collegiate chapters and general membership. A passionate advocate, Global Advocacy Mission Scholar, student clinician at the South Royalton Legal Clinic, and past president of the VLS BLSA chapter, Duchatelier brings strong leadership and breadth of experience to her new position."

    I'm sure this position will pay off when these three social justice warrior idiots are working the cash register at Office Depot. This is further meaningless, when you take the following into account:

    http://www.salon.com/2016/02/17/black_activists_in_vermont_complain_they_were_invisible_to_bernie_sanders/

    “There are nearly 10 times more black people locked up in Vermont’s jails and prisons on a given day than there are free in its streets. Black Vermonters make up just 1.2 percent of the state’s general population, but 10.7 percent of its incarcerated population.”

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    1. That would mean that about 90% of the Blacks in Vermont were imprisoned. I find that hard to believe.

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  14. Why not give away $17 mil to this shithole? It's someone else's money. And that the American way.

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  15. “There are nearly 10 times more black people locked up in Vermont’s jails and prisons on a given day than there are free in its streets. Black Vermonters make up just 1.2 percent of the state’s general population, but 10.7 percent of its incarcerated population.”

    According to Google, there are 6,270 black people living in Vermont. I highly doubt that there are over 60,000 blacks incarcerated in Vermont. I don't doubt that there are a disproportionate number of blacks incarcerated in Vermont based upon their percentage of the population, but so what? Are we to believe that the highly liberal state of Vermont is actually full of closeted Klansmen? Blacks are overrepresented in Vermont prisons because they commit crimes at a much higher rate than whites.

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    1. No, they're overrepresented because they're convicted and sentenced to prison at a much higher rate than whites.

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    2. Old Guy, could you provide a link to the statistics you are using for the sState of Vermont?

      Delete
    3. Old Guy is full of shit. Look at the times he posts. Pathetic.

      Delete
  16. https://www.moodys.com/research/Moodys-downgrades-Vermont-Law-School-to-Ba1-outlook-negative--PR_297223

    Who can forget this April 14, 2014 Moody's report on VermonTTT Law Sewer?!?! It was headlined "Moody's downgrades Vermont Law School to Ba1; outlook negative." Enjoy this segment:

    "Moody's Investors Service has downgraded its rating to Ba1 from Baa2 on Vermont Law School's (VLS) $10.3 million Series 2011 Revenue Bonds issued by the Vermont Educational and Health Buildings Finance Agency. The outlook is negative.

    We also maintain a Aa3/VMIG 1 on VLS's Series 2003B bonds based on a Letter of Credit (LOC) from TD Bank, N.A. (Aa3/P-1 stable). There is no underlying rating on these bonds.

    SUMMARY RATING RATIONALE

    The downgrade to Ba1 reflects continued substantial declines in JD enrollment given reduced national demand, expectations for lower net tuition revenue that will pressure cash flow and debt service coverage, and modest projected headroom on a financial covenant that may require an extraordinary release of net assets to remain compliant in the near term.

    The Ba1 rating captures Vermont Law School's adequate liquidity coverage of demand debt and financial resource cushion for debt and operations, as well as management's demonstrated ability to manage through the past few years' weakened law school demand while maintaining stable cash flow. The rating also incorporates the school's small size and niche position as a standalone law school, modest financial resources, and high dependence on student charges.

    The negative outlook reflects the potential for future erosion of the school's market position leading to weaker operating performance and erosion of financial covenant headroom that could jeopardize orderly access to the market or raise concerns about debt acceleration.

    CHALLENGES

    *Nationwide pressure on law school demand has resulted in lower enrollment and weaker student demand for VLS. Enrollment declined 3.5% in fall 2013 for all programs and new matriculants for the JD program have declined 45% from fall 2009 to fall 2013.

    *VLS's very small operating size ($28.2 million in revenue for FY 2013), combined with a high dependence on tuition revenue, makes the school vulnerable to even a small decline in enrollment. Operating revenue declined 4% in FY 2013 and is projected to decline further in FY 2014."

    Afterward, the pigs were cutting staff, offering buyouts, and seeking more funds. So, naturally, the federal government stepped in to help this third tier toilet. Then again, you could fit their financial literacy on the back of a postage stamp.

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  17. I attended this school and graduated in 2011. I have a technical degree from a reputable school and had a career before making the misguided decision to apply to law school. I did OK on the LSAT (remarkable, by their standards) and was accepted almost immediately. As a highly regarded (at least if you fall for the rhetoric, as I did) environmental school, the fantasy of becoming a well-compensated lawyer version of Erin Brockovich runs rampant. Though it's hard to admit, I wasn't cut out for law school. I didn't get in the top 10% of this school. I have a strong knowledge base in math and science - and law school "how to get to maybe" hogwash never made sense to me. I hated it the whole way through - but always felt too trapped by my debt to leave; acquiring more and more debt instead. Largely due to my technical background, I did get a nice federal job through the school's meager OCI - and have been able to comfortably maintain a middle class lifestyle since graduating. The lasting problem is that I don't like being a lawyer and managed to tank what could have been a nice engineering career by filling my resume with Tier 3 "education." My "success" has created a giant professional void and I REALLY wish I could have a redo and go to medical school. Or - even better - tell 26 year old me to chill the f out and put all my energy and time into making the career I already had work out. The school used to give my contact info to other incoming "technical" students - but quickly stopped when I got too honest.
    Bottom line? If you have a career before law school, it is highly likely it is more lucrative than a law degree. Unless you're getting a total full ride, I'd pass on this school. And, even with a full ride, I'd look elsewhere.

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