Interesting news from Karen Sloan over at the National Law Journal:

“A lot of attention has been focused on employment data, and our subcommittee will be proposing much more rigorous requirements,” said David Yellen, dean of Loyola University Chicago School of Law and chairman of the standard 509 subcommittee. “The current standard is very general — you could even call it vague. People have been comparing apples to oranges because schools report what they want.”

For example, schools have to disclose to the ABA what percentage of their graduates are employed nine months after graduation. They don’t have to disclose whether students have part-time jobs, full-time jobs, jobs paid for by their law school or jobs that don’t require a J.D., Yellen said. Much of his information is already collected by the National Association for Law Placement, and should be required and disclosed by the ABA, he said.

Of course, nothing has been adopted and these are merely proposals, but it is welcome news. As with a great many things, disclosure will help people make well-informed decisions. It is reassuring to have a self-regulating industry such as the legal profession start moving in this direction (of course, it would be even better if the Association of American Law Schools or the National Association for Legal Career Professionals came out with their full-throated support.)

What about undergraduate schools? Other graduate programs? President Obama is a huge believer that a well-educated citizenry is essential to our long-term vitality as a nation. A belief that many of us share. But as part of his reform program, ought we not call for more transparency in this vital industry?

If the rest of ‘em won’t self-regulate, ought not Elizabeth Warren get involved?