According the email CB sent out, it looks the 2007 Class Gift will likely be an LRAP donation. Since our class has been there through the initial phases of this program, it is a worthy donation and one I'm glad to be associated with.
On another note, 22% of the vote went to that strange metal sculpture for Wolf... Really?
13 comments:
Thank goodness I never signed over my tuition deposit.
Really, HS? You think LRAP is that unworthy?
I think it's very worthy when weighed against the "official" options we voted upon. But as between LRAP and amusingly-named ENDOW A PROFESSOR option, as I've suggested before, I think the latter would do more for the institution and its graduates. Indeed, it seems to me that there's a reason why Getches is focusing his efforts on making CU Law more competitive with other schools with regards to salary, and not LRAP; doesn't one follow the other?
Actually, it is my understanding that LRAP fundraising is one of Dean Getches' main goals for the immediate future. The Administration wants to raise $2 million.
I think that its a worthy cause - except if I understand correctly LRAP spends its capital instead of just paying out the interest on that capital. I would much rather my deposit go towards a long lasting endowment than in one hand and out the other...
I beleive they're trying to get to the point of being able to do that, anonymous.
Actually HS, Getches and the administration have been putting forth a good deal of effort to secure the level of funding necessary to give us a legitimate LRAP program.. You may be surprised to know that a constant theme among the schools ranked well above us is well-funded LRAP programs. Typically, the top school's LRAPs will pay the full amount of their qualifying graduate's loans as long as they remain within the requisite salary range. The current level of funding in our LRAP program is a joke that embarrassingly reflects quite poorly on our school - particularly as it plays against our farcical image of being such a service oriented program. Despite your claims to the contrary, while it may not effect you personally, I am pretty sure that a well funded LRAP program would do far more for the institution and its graduates than creating some lameass endowment for a professor's chair. Despite your pontificating, you have not provided even the slightest shred of evidence to substantiate your suggestions that endowing a chair would result in some profound benefit for CU Law.
Anon: First, I'm happy that our class went with LRAP as the class gift. I think it reflects favorably on the altruistic sentiment of our class. Second, I think there'll be a point where LRAP is permanently endowed; the future is bright.
With that being said, however, there's a problem with the examples you cited of other schools ranked ahead of us having fully-funded LRAP endowments. They have more money; it’s a chicken-before-the-egg problem. In essence, they're ranked higher because they have money to pay for things like LRAP, not because they actually have higher endowed LRAP funds. Finally, asserting that evidence is needed to prove the benefits of an endowed chair for a professor is myopic and undermines the credibility of your argument.
Bolder, thanks for the props. As for evidence, I can think of at least six professors that either left or never even arrived at CU Law because of monetary concerns. And not just schlubs, either.
Bolder Law, I never even insinuated that the reason those schools are ranked higher is because of their LRAP programs. Some might call that a strawman argument. I was merely pointing out that it was a consistent feature of top schools, and not some idiotic waste of our class gift as was suggested by HS.
Obviously the schools above us have more money, which is why they have better LRAP programs, but thanks for pointing that out - inane commentary is always greatly appreciated here on the CU Blawg.
And you write, "Finally, asserting that evidence is needed to prove the benefits of an endowed chair for a professor is myopic and undermines the credibility of your argument."
Really, Now? HS had been spouting off for days about what a huge difference that gift would have made. Putting the relatively small amount of money that we have available from our class gift towards funding a single chair would have virtually zero impact on our school. Without paying out of the principle, the amount of money that would be available to entice a professor would be limited to say the least. (In short, it would very much resemble our current LRAP). Now certainly, if there were several extremely well endowed chairs - that would make a difference, but as you clearly seemed to have missed - the discussion was about our class gift and the relative merits of putting the money towards LRAP versus endowing a chair. Still, thank you for your refreshing take on the matter. I leave this discussion thoroughly enriched, having discovered from you that the schools with more money have better funded programs. A rather shocking revelation indeed.
Sadness abounds, for in real life, there is no wizard to grant our poor Strawman his wish.
Anon, could you point me to the instance where I said that endowing a chair would make "such a huge" difference? Oddly enough, despite your assertion, I can't seem to find it.
It would also be helpful if you could show me the factor in the U.S. News and World Report rankings that incorporates LRAP expenditures. (Granted, the rankings are statistically flawed in numerous ways, yet somehow our stature as an institution and as graduates directly relates to them.) Factor six considers expenditures on faculty salaries. And factor nine examines the student-to-faculty ratio. Factor seven might include LRAP, but I think that's just for current students. Can you help me out?
HS, you are right. Having looked over previous posts, I have to admit that I associated your name with the aggregate of all the posts in favor of endowing a chair. That was poor on my part.
That's some outstanding research there breaking down the US News Rankings Stats. Very solid. Unfortnately, meaningless for the sake of this argument. First, I never suggested that LRAP was factored in. Secondly, my main point, which I shall state again is that endowing a single chair with a very minor amount of money wouldn't change a damn thing in that regard for CU Law. Third, looking broadly at facutly expenditures can be misleading - since cost of living varies radically - a flaw in that specific criterion. Lastly, more opporunities for students will bring in better students. Ultimately, the alumni are the reputation of any program. Ask yourself, where is all of the money that separates us from the rest of the pack going to come from? When comparing programs, any intelligent applicant will look at everything that the degree will offer them - including a solid LRAP program. I do doubt that too many potential students are overly interested in faculty salaries. In the end, lots of students and faculty alike will come here for things that have nothing to do with the law school. I had offers to go to schools ranked well above CU, as did a number of your fellow classmates. I didn't think CU would be the greatest program (and I have been mostly right in that respect). I was concerned by the lack of an LRAP program (among other things) - but was assured that it was in the works. I knew that it wasn't the most prestigious option available, but in the end came for two reasons, recreational opportunities, and because it was supposed to be cheap to attend, and to live in CU (based on the ridiculously bogus cost of living projections they provide). $120K later, I have discovered just how cheap it isn't. At any rate, the point is, we aren't a top 20 program, and never will be - still, quality students and faculty will come. Our graduates should have the opportunity to practice whatever type of law they desire. Their decisions should not be shaped entirely by the restrictions of debt.
Personally, I think a career in PI is a personal choice that doesn't need a subsidy. But that's my opinion.
As for the "meaningless" U.S. News and World Report, you specifically pointed to a lack of evidence that would substantiate the claim as to whether an endowed chair would help the school. I'd say the ranking factors fill that gap.
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