↪ A Money-Back Guarantee? Give Me A Break.
In light of the recent request by an unemployed Boston College Law School graduate for tuition reimbursement, the New York Times asks its readers whether graduate schools should offer money-back guarantees.
I have to side with the law school on this one.
a spokesman for the law school issued a written statement to ABC News saying that the school was “deeply concerned about the job prospects and general well-being of our students and our recent graduates” in the downturn. “But no institution of higher education can make a guarantee of a job after graduation.” It added, “What we can do is provide the best education possible, and work together to provide as many career opportunities as possible.”
A money-back guarantee for higher education is an absurd idea. Maybe the problem is that too many people jump into expensive graduate programs without really thinking through the consequences and alternatives. If you’re going to go to law school, and take out nearly $200,000 in loans, you need to be prepared for the possibility of not finding a job. If that’s something you can’t deal with, don’t go. I went to law school and took out a ridiculous amount of loans too, and although I was fortunate to find a job, I hated the legal profession. But I took responsibility for my mistake and paid off my loans. And then I got out. If law schools were to offer guarantees, there would be way too many people flocking to law school and the market would be even more saturated.
And we all know that there are already too many lawyers in this world.
(via Above the Law)