Charlotte School Of Law Has 6 Weeks To Show It's Financially Sound
Charlotte School of Law is on probation with the American Bar Association, has had its federal loan money yanked by the Department of Education and now it's in trouble with its state licensor, the UNC Board of Governors.
The board decided yesterday to give the law school until August 1st to prove that it's financially sound and in compliance with state licensure standards. That includes providing proof of a guaranty bond that would refund students' tuition if the school closed mid-semester.
It also requires Charlotte School of Law to get approval from the American Bar Association on a plan to teach out the remaining students or to continue to operate as an accredited law school by August 10. And another tall order: get the Department of Education to re-instate federal loan money for the remaining students by that time as well.
If the school fails to accomplish all of this, the board will revoke its license and close it.
The law school hasn't been accepting any new students and the board's decision now means it can't until these issues are resolved. About 100 students are still enrolled at the school. Many others have taken a leave of absence.
In 2014, Charlotte School of Law was easily the largest law school in the state, with 1,400 students. Last November, the ABA placed the school on probation partly for accepting too many unqualified students. The school is now under investigation by the state Department of Justice's Consumer Protection Division.
You can read the Board of Governors' decision here.