780 Search Results Found For: "for-profit colleges "

  I thought it was a matter of time before defenders of America’s predatory for-profit colleges tried to equate President Obama’s effort to regulate those schools with Obamacare. In seeking to block Obama’s “gainful employment” rule, which would penalize career colleges that consistently leave their students worse off than they started, the industry’s arguments have
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It’s become increasingly clear from law enforcement, congressional, and media investigations that many for-profit colleges are selling a product that can be toxic to students — high-priced, low-quality programs that often leave graduates and dropouts alike without improved career prospects and paralyzed by student loan debt, often $100,000 or more.  So when the for-profit college
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The federal Consumer Financial Protection Bureau this morning filed a civil lawsuit against for-profit college company ITT Educational Services, seeking restitution to students allegedly harmed by ITT’s private loan programs, a civil fine, and an injunction against the company.  The CFPB filed its complaint in federal court in Indianapolis, near ITT’s headquarters. UPDATE [1:15 pm]:
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New York Times economic columnist Eduardo Porter has a piece this morning seeking to raise doubts about the Obama Administration’s proposed “gainful employment” rule. The rule would, eventually, take away eligibility for federal student aid from career training programs that consistently leave their students with overwhelming debt. While Porter does quote some proponents of the
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Steve Gunderson, the former congressman (R-WI) who heads APSCU, the lobbying group for America’s for-profit colleges, seems to be getting desperate. The industry he represents is seeking once again to block the Obama Administration from issuing a “gainful employment” rule that would, eventually, cut off federal student aid to career training schools that consistently leave
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A front-page New York Times article on Thursday reported on a lawsuit brought by former employees of the for-profit Harris School of Business alleging fraud at the school. The suit, filed under the federal whistleblower law, asserts that Harris regularly misleads students about the value of its programs, and signs up even students who have little
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Last August, a Minnesota jury awarded Heidi Weber, a former dean at for-profit Globe University, $395,000 in damages against the school. Weber alleged that she was fired for complaining that Globe used false job placement statistics and engaged in other misconduct to recruit students. On Tuesday, the trial judge in the case rejected Globe’s motion
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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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