Given the dire employment situation for many recent college graduates, New York’s Attorney General may want to rethink his new policy.

If overpriced credentials and lack of marketable skills are the basis for  lawsuits, then his office is going to be busy suing many, many schools.

New York’s attorney general sued Donald Trump for $40 million Saturday, saying the real estate mogul helped run a phony “Trump University” that promised to make students rich but instead steered them into expensive and mostly useless seminars, and even failed to deliver promised apprenticeships.

Trump shot back that the Democrat’s lawsuit is false and politically motivated.

Attorney General Eric Schneiderman says many of the 5,000 students who paid up to $35,000 thought they would at least meet Trump but instead all they got was their picture taken in front of a life-size picture of “The Apprentice” TV star.

“Trump University engaged in deception at every stage of consumers’ advancement through costly programs and caused real financial harm,” Schneiderman said. “Trump University, with Donald Trump’s knowledge and participation, relied on Trump’s name recognition and celebrity status to take advantage of consumers who believed in the Trump brand.”

But Trump’s attorney accused Schneiderman of trying to extort campaign contributions from the real estate mogul through his investigation of Trump. Attorney Michael D. Cohen told The Associated Press on Saturday that Schneiderman’s lawsuit was filled with falsehoods. Cohen said Trump and his university never defrauded anyone.

He said Trump University provided nearly 11,000 testimonials to Schneiderman from students praising the program and said 98 percent of students in a survey termed the program “excellent.”

The lawsuit says many of the wannabe moguls were unable to land even one real estate deal and were left far worse off than before the lessons, facing thousands of dollars in debt for the seminar program once billed as a top quality university with Trump’s “hand-picked” instructors.

“The attorney general has been angry because he felt that Mr. Trump and his various companies should have done much more for him in terms of fundraising,” Cohen said. “This entire investigation is politically motivated and it is a tremendous waste of taxpayers’ money.”