Kronk wrote:Dignan wrote:Kronk wrote:Dignan wrote:It's true, of course, that law schools can't print money, but they can shuffle funds around, and they have ways of raising revenue. (If you don't believe me, check out how much tuition has skyrocketed over the past five years.)
In any event, what you say is interesting. So, in spite of whatever promises a law school makes, it can essentially renege on its LRAP payments if its LRAP "budget" runs out of money? If so, this means that LRAP participants are entirely dependent on the goodwill of the school. Is that really the case?
Yes, this is true. Although a VERY small percentage of people actually end up using the LRAP, so I don't think they generally run out of funds. At CLS I think something like 3-5 percent of graduates actually use the program. At Berkeley I am assuming that number would be higher, but still.
I'm surprised. Does this also apply to scholarships? If a school promises you 90K over three years, and then the school's scholarship budget "runs out of funds" after your first year, can the school get away with not paying you the remaining 60K over your final two years? And if the school can't do that, how is the scholarship situation different than the LRAP situation?
No school is that irresponsible with money, so it wouldn't happen. I'm just saying LRAP programs run on a budget just like the rest of the school. They are smart enough to know what they can handle and they adjust their programs accordingly, but they're on a budget.
This seems off. Every organization--and every individual, for that matter--has a budget. Imagine that I promise to pay you $100 to help me move my furniture. You move my furniture, but then I refuse to pay you because my "moving budget" is out of funds. I'd like to meet the judge who buys that argument.
I suspect that Beef Wellington is right: some LRAPs are guaranteed and other aren't. If an LRAP is guaranteed, then it seems to me that the law school has to pay you unless it goes bankrupt or something. The "our LRAP budget is in the red" excuse would not work.