October 22, 2014
obamaafford

As For-Profit Colleges Fight For Their Right to Abuse Students, It’s Obama’s Time To Decide

The Obama Administration is scheduled to issue, within the next few weeks, a regulation called the gainful employment rule, aimed at cutting off federal student aid to college-level career training programs that consistently leave their students drowning in debt. Lobbyists for the for-profit college industry are pressing the White House hard to weaken the rule or drop it altogether. It’s a critical moment for the public to take another close look at this industry, which now has 13 percent of all U.S. college students and swallows more than a quarter of federal aid — over $30 billion a year in taxpayer …

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October 2, 2014
amor

Photos: Lavish Lifestyle of Miami For-Profit College CEO Indicted Today For Stealing From Taxpayers

A federal grand jury has indicted the former owner-CEO and three other ex-staff of Miami-based FastTrain College, a for-profit school that had ties to Florida Members of Congress before the FBI raided its campuses in 2012.

The South Florida Business Journal reported late this afternoon that the former CEO, Alejandro Amor, 56, (pictured above), was arrested and appeared in federal court in Miami today, along with former admissions officers Jose W. Gonzalez, Michael Grubbs, and Anthony Mincey.  The 15-count indictment charged the four with theft of government funds, and each could face five years …Continue Reading »

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September 17, 2014
suzeorman

VIDEO: With Senator Warren Watching, Suze Orman Denies, Admits, Rationalizes Teaching at University of Phoenix

At an event in Washington DC this morning, speaking alongside Senator Elizabeth Warren (D-MA), financial guru Suze Orman at first seemed to deny what is a documented fact: that she teaches a personal finance course at the nation’s biggest for-profit college, the University of Phoenix.  Then Orman admitted it, but offered a wholly unconvincing explanation.

The event, hosted by Politico and sponsored by Starbucks, addressed the issue of educational opportunity and student debt, issues on which Senator Warren has been a leader. Having read a tweet I sent yesterday, Politico reporter Allie Grasgreen asked Orman a highly relevant question:

Q: Suze, are …

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September 16, 2014
Richard Cordray

Consumer Protector Cordray: Corinthian Colleges Deceived And Bullied Students

For a couple of years now, I’ve argued that Corinthian Colleges might be the worst predator of all the big for-profit college companies, a remorseless giant engaged in endless abuses of students who needed career help, not more problems. But now that Corinthian, which was taking in as much as $1.4 billion a year in taxpayer dollars, is collapsing under the weight of law enforcement probes and bad student outcomes, I worry that a prolonged focus on Corinthian’s horrid acts might allow other terrible actors in the for-profit college industry to sneak out the back door.

Indeed, the rest of …

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September 15, 2014
billjohn

Bill Maher, John Oliver Slam Predatory For-Profit Colleges

In a single week, two of America’s best comedic truth-tellers — John Oliver and Bill Maher — hit hard against the predatory for-profit colleges that rip off taxpayers and ruin students’ lives.

On his HBO show “Last Week Tonight,” Oliver attacked these profit-making colleges for their sky-high prices, meager spending on instruction, and deceptive and coercive recruiting tactics, including the enrollment of soldiers who had brain injuries and couldn’t even name the courses they’d signed up for. Oliver added, “I will say this for for-profit colleges: They’ve just given us all a first-class education in the depths of human depravity.” Oliver noted that …

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September 10, 2014
gunderson3

APSCU, Chamber Sought to Stack Rulemaking Panel With Execs From Troubled For-Profit Colleges

The main lobbying group for America’s for-profit colleges, APSCU, proposed last year to stock the Department of Education’s 28-member negotiated rule-making panel on the crucial “gainful employment” rule with 11 nominees, nine of whom were executives at APSCU-member for-profit college companies, including multiple companies now under investigation by law enforcement. Correspondence obtained from the education department by Republic Report under the Freedom of Information Act shows that APSCU CEO Steve Gunderson, in a 12-page letter dated July 12, 2013, denounced the regulatory process and demanded that the Department halt it, but nevertheless proposed a slate of nominees for the panel, including executives …

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September 3, 2014
Many for-profit colleges get about 90 percent of their revenue from federal financial aid. For-profit schools have 13% of U.S. students by nearly half of all student loan defaults.

“Back to the Future” for career colleges: What we have to do to regain credibility

In this guest post, Raul Valdes Pages addresses his colleagues in the for-profit college industry. Raul Valdes Pages was the founder and CEO of Denver Technical College, a for-profit school offering associate, bachelor and master’s programs. He also has served as CEO of Sextant Education and marketing manager and vice president at DeVry. He is currently CEO of Quantum Integrations, a publishing and competency-based curriculum company. He has been a commissioner of the Accrediting Commission of Career Schools and Colleges and testified in Congress regarding skills standards legislation. You can contact him at [email protected]

Our colleges have taken a pounding in the …

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August 28, 2014
americanlegion

Obama: We’ll Protect You Against Predatory Colleges. Students: Please Do

Speaking at the American Legion convention in Charlotte Tuesday, President Obama pledged, “For veterans going back to school under the Post-9/11 GI Bill, we’ll keep standing up against dishonest recruiting and predatory practices that target and prey on you and your families.”  The President has made clear that he understands the scam perpetrated by many for-profit colleges against our vets, against single mothers, against working-class young people of color – deceptive recruiting, high prices, poor quality, weak job placement.

Yet the big for-profit college companies keep spending millions to lobby aggressively against a proposed federal rule, called gainful …

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