I wasn't necessarily comparing the Charlotte school of Law to the DO schools. Just answering Ph's inquiry and also showing that examples of this sort of exploitation of student loans is happening in other fields as well. IMHO it produces an inferior product and saddle the student with HUGE debt that is a big burden to repay. These schools overcome the high cost of training medical students (hospitals, equipment, etc) but paying local hospitals to train the students. Do you think a private practice general surgeon will teach a student as well as an academic general surgeon at a large hospital? Generally not. The PP guy is generally busier and not as into teaching, which is why he isn't at an academic hospital
Aren't most hospitals nonprofit? 10 years paying 10% of income under the income contingent plan and poof that 300k is gone? The bigger issue is when forgiveness starts happening in a few years and a poor teacher gets hit with a 80k tax bill
As someone earlier mentioned, med school is a much bigger investment than law school, both in terms of money and years of your life. This is really interesting:
http://www.theatlantic.com/health/archive/2014/08/a-junior-doctors-salary/375642/
god forbid one thing in this world isn't taxed
Pretty much agree with everything BacktoBack has posted on this thread. A lot of the newer DO schools are shady/suspect, but there are a couple that are fairly well thought of. Though it's much harder these days, there are some big names in most fields with a DO.
One thing to keep in mind is the DO grads will definitely be able to get a job (unlike the Charlottle law kids). Most of them will end up in residencies in lower paying specialties in less desirable areas, true, but they will have a job.
The model of employing local private practice guys to help out with med student training is becoming more and more common as new schools open and established schools open satellite campuses. From what I've seen, it's incredibly hit or miss. I actually did my third year surgery rotation at a community hospital and was paired with a young harvard trained vascular surgeon, which was freaking awesome. There were no residents or fellows so I was first assist on every procedure and learned way more than the guys that were scutting around at the teaching hospital. Other people weren't so lucky though.
Law schools desperate to get their hands on tuition/student loans fucked up the model. There are too many damn law schools lying about their employment numbers.
So what can be done about sham colleges?
TSham colleges are what we've been talking about.