Score another victory for the law-school scam. Indiana Tech reports that 55 lemmings enrolled in its entering class this year:
Last year Indiana Tech got only 15 lemmings, and to do so it had to drop tuition to zero. Now it is charging $19,750 per year—plus $660 for each credit hour beyond 16 in a semester. (Yes, taking Law & Hip-Hop with Dougie Fresh can set you back a cool two grand.)
Scam-dean Charles Cercone attributes this rise in enrollment in part to the provisional accreditation that the ABA predictably conferred upon that glittering center of juridical excellence that graces Fort Wayne. And he is right. With the ABA's rubber-stamped imprimatur, suddenly the toilet looks less risky in the eyes of benighted lemmings. But the difference is negligible. Provisional accreditation will enable the graduates to take the bar exam, but it won't bring them jobs. An accredited toilet is still a toilet.
Even with 55 entering students, Indiana Tech is probably losing money. The previous class had only 15 students, and the one before that about 25. Probably some of those have left, and not many have transferred in. Let's say that all 95 are still there. If they're all paying full price (an unrealistically generous assumption), the law skule's revenues from tuition are less than $1.9 million. I doubt whether Indiana Tech's law skule, with its 25 employees, can operate on that amount. Most likely it is still drawing down the university's endowment, which was healthy until this vanity project of a law skule was launched.
In a couple of months, we shall get to see some interesting facts, at least as reported by Indiana Tech. How deep into the 140s, if not the 130s, did Indiana Tech have to dip? How many people got their tuition waived or heavily discounted? And a few months later we shall learn just how well that first class of valiant Warriors™ have fared in their quest for work as lawyers or global leaders or experts in hip-hop. How many of this past year's 21 graduates have landed in Big Law? How many in federal clerkships?
Eventually these facts will catch up with Indiana Tech and do it in. Unfortunately, for now Indiana Tech continues to lure in dolts who never should be allowed to enroll in law school at all. How many more lives must be ruined before the flow of readily available guaranteed loans is checked?