That’s the title of another excellent post by law professor Brian Tamanaha at the National Law Journal’s new Law School Review forum/blog. Tamanaha sketches how law schools “are engorging themselves on the federal loan program,” with law students and federal taxpayers bearing the long-term costs. An excerpt:
We are talking about real money here—and nearly all of it goes directly from federal coffers to law school bank accounts. The students are conduits for the money. These student-conduits bear the burden of the loans in the first instance, and the federal government thereafter. The average debt of graduates at all of these schools was well above $100,000. Not all of this debt will be fully paid in the end. Law schools get their money up front.