Our entire graduate program is taught extra-to-load. Our classes and supervision are all done on top of our regular schedule. The idea was that we would gradually change this, somehow under administrative radar, but this hasn't happened of course. And I find that I vividly resent having to drag more students through a strenuous full-year grad course on top of my regular teaching. I have never supervised more than one student at a time (it's a small program), so while supervision is work at least it's doable, but my colleagues who are supervising several students, for no credit whatever, are exhausted. The administration is wholly unsympathetic and won't allow us to do any of the things that would alleviate the workload (like, say, earning a 1 term course reduction for every 5 students supervised, or anything like that).
I honestly don't know why we bother to have a graduate program. The university wants graduate education in its profile, but the programs are underfunded and under-supported. The admin wants to have grad programs but it doesn't want to have to pay for one; we're supposed to carry the whole thing ourselves.
There is also - as a separate but compelling issue - the fact that I'm in Humanities, so I am not at all sure where these students are going to get jobs. Are we doing them any favours by letting them carry on in the first place? Wouldn't we be doing better to just bow to market forces, close down the grad program, and tell our students the truth, that a Humanities first degree is excellent for broadening their horizons and equipping them to function as citizens of a democracy, but now they'd better go do an MBA or CPA or LlB or MPA or a plumbing certificate, if they were planning to actually earn a living? Because there are not that many jobs, and the ones there are are evaporating as we speak.
The grad students are great to have around. They are lively, enthusiastic, hard-working, and remind me why I love my field. So I get a lot out of having the grad program, though perhaps not enough to offset the workload. But I'm really not sure there's anything in it for them. Are we doing them a grave disservice by letting them think there is?