STOP POP-UP SCHOOLS 2K19
In 2003, here were 13,722 students who applied to pharmacy and 4,638
students got accepted which was a 34.1% acceptance rate. Fast forward to
2017-2018, there were 130 pharmacy schools and there were 15,886 students who
applied and 82.7% of them got accepted. These stats pretty much state that
anybody who can get through their required classes has a very good shot of
getting accepted.
The
situation was not always like this but in 2006, Congress created the Grad Plus
loan program. Before this program, students were able to get a loan with a
limit of $33,000 per year. However, this program allowed a student to borrow all
the money needed to cover their graduate school studies. All a pop-up school needs to do is get
approved to open and they are guaranteed to be able to fund their school with
as much money as they want. They can overcharge for their tuition and have
students pull out as much money as needed to pay for school with grad plus
loans.
In the
early 2000’s, there were about 7,000 pharmacists graduating a year. This meant
that there was a shortage of pharmacist. The 2016-2017 pharmacist class had
14,500 PharmD graduates. This means that graduates have doubled in the span of
about 16 years. This has a trickle down effect for post-pharmacy school options. In my
opinion, any organization or institution that employs pharmacists or has a
stake in pharmacies has no problem with this current trend. The more pharmacist
there is out there, the less money a pharmacist can demand which in turn will
save these organizations money and make it that much harder for graduates to
pay off their loans. I don’t see the trend in pop-up schools stopping. Money is
a contributing factor in everything. If schools can make money and employers can
save money then this trend will continue until pharmacist as a whole stand up
and take a stand.
https://www.pharmacytimes.com/contributor/alex-barker-pharmd/2015/05/the-pharmacy-job-crisis-blame-the-pharmacy-school-bubble
https://medium.com/rxradio/saturated-pharmacy-market-are-you-in-trouble-a977792fbbbb
http://www.pharmacyschoolhq.org/pharmacy-school/
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