any contract you sign is legal binding.
any contract prepared for you is definitely meant for you to read and then sign.
I think maybe its due to the culture nowadays, where people just sign up for mobile plans, sign for credit/debit cards, sign up for internet access, sign up for free e-amil. sign up for whatever xxxx that they have stopped reading what they sign.
There is totally nothing wrong with what SAE is doing, its just like any mobile phone plan. You sign 2 years you better finish the 2 years, if not you pay the penalty.
If you quit the course because all of a sudden you feel that it doesnt warrant a job, you really should have considered much more carefully before hand. There's really no one else to blame. Even if you didn't read the contract or even if NOBODY READ/TELL IT TO YOU.
Well mobile plans come as low as 19 dollars a month, I can understand why people blindly sign on to what ever legal bindings the company proposes.
But with fees of up to 600 a month, i think what you paid for is not the audio engineering course, since you essentially interested about job prospects. You probably paid for the most espensive lesson you need to learn. (monetarily speaking)
Worst thing is that you still dont learn... and let it get to you and decides to bear grudge and fantasise about closing down SAE someday... openly calling them cheats in forums. Like mikemann say, you dont know what you're messing with.... even until now.