The Obama Administration’s “gainful employment” rule, aimed at protecting students from predatory career colleges, has gone from the Department of Education to the White House Office of Management and Budget, which is holding meetings with interested parties. These include representatives of our coalition of student, veterans, civil rights, consumer, and other groups seeking a strong
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Officials tapped by the Obama administration to lead the Trans-Pacific Partnership trade negotiations have received multimillion dollar bonuses from CitiGroup and Bank of America, financial disclosures obtained by Republic Report show. Stefan Selig, a Bank of America investment banker nominated to become the Under Secretary for International Trade at the Department of Commerce, received more
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As veterans return home to earn a college degree, many say they have been defrauded out of their education benefits from a company chaired by none other than retired general and former Secretary of State Colin Powell. Powell is the chairman of the advisory board to Leeds Equity Partners, an investment firm that co-owns for-profit
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The second largest for-profit college company, Pittsburgh-based Education Management Corporation (EDMC), is facing severe challenges. The company, 41 percent owned by Goldman Sachs, held a conference call for investors last week, and the data was not good — enrollment and revenue remain down. Market analyst reaction was lukewarm at best, and the company’s stock price plunged
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A year ago, if you were Jack Massimino, CEO of  Corinthian Colleges, you might have been feeling pretty good.  Despite extensive evidence from congressional and media investigations that Corinthian, along with other big for-profit colleges, has been abusing students — luring them with deceptive recruiting, offering high-priced, low quality programs, and often leaving them without
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Developments are happening at lightning speed on for-profit college issues. This morning: 1. The Department of Veterans affairs launched a new website, the GI Bill Comparison Tool, allowing vets, and to some extent other students, to compare college options. The initiative is part of action on President Obama’s 2012 executive order to protect vets and current service
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Federal agencies have this morning launched a new online complaint system where veterans, service members, and their families can report on problems with colleges and universities receiving federal education aid. As numerous investigations have revealed and President Obama has noted, for-profit colleges have engaged in widespread abuses of vets and military families. The new complaint
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The New York Times Wednesday published a story on the deal between the U.S. Olympic committee and the for-profit DeVry University, under which DeVry is designated an official education provider to Olympic athletes. The Times reported that DeVry had “landed” 15 U.S. athletes headed to Sochi, but it noted that the terms of the overall deal have not
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