USA Today:  “Disgruntled students, employees and shareholders have filed a flurry of lawsuits against for-profit colleges since a federal investigation last month found deceptive practices at 15 campuses.  The Government Accountability Office report was released Aug. 4, and class-action lawsuits have now been filed in California, Colorado, Arkansas and Utah by former students and employees, who argue in most cases that a school lied to them or misled them.”

It’s only a matter of time before the class action lawyers go after the law schools for suckering young people about the benefits of a law degree.

Above the Law:  “Earlier this week, the legal blogosphere took a look at the ‘value’ of an LL.M degree. I put ‘value’ in scare quotes because the main point of the pieces in the National Law Journal and the WSJ Law Blog was that we don’t really know how valuable these degree programs are.  Now, in most markets, not knowing whether or not something has value would kind of be a big deal. But when it comes to legal education, the inability to determine the value of the degree isn’t a problem.”

Megan McArdle:  “Laura asks a question that’s on a lot of minds these days: ‘I’m certain that college (though not many graduate programs) do lead to higher lifetime salaries. However, costs have gotten out of control. Why have tuition rates gone up so much? How does a six figure student loan burden affect a person’s future?'”