For-profit colleges with troubling records have frequently brought onto their boards prominent people whose reputations can help validate their institutions with government overseers, accreditors, and the public.
The U.S. Federal Trade Commission today filed a lawsuit against one of the largest for-profit colleges, DeVry University, for allegedly misleading students about job placement rates and salaries for the school's graduates.
Some of the largest for-profit college companies -- including, last month, DeVry and Kaplan -- have recently left the industry's main trade group. Funded to boost its industry's fortunes, APSCU may instead have contributed to dragging the industry down. Now APSCU itself may be a sinking ship.
America's for-profit colleges are receiving as much as $33 billion in a single year from your tax money, and billions more from the pockets of students, a lot of whom are left deep in debt and jobless from their encounters with predatory schools.