Last week the U.S. Department of Education took the rare step of cutting off federal student aid to two for-profit college chains, each accused of deceiving the Department and their own students. The allegations against the schools are startling.
Last spring, when for-profit Corinthian Colleges abruptly shut down under the weight of allegations of deceptive acts, Corinthian students had a choice under U.S. Department of Education rules. Now what?
Today, the University of Phoenix's owner, Apollo Education Group, announced a $1.1 billion deal to be acquired by a consortium of investors including Apollo Global Management (no relation) and the Vistria Group. Would this be a good deal for America's students and taxpayers?
Credit Suisse got the attention of Wall Street last week when it issued a report recommending that investors buy shares in one of the largest for-profit college companies, DeVry Education Group.
Last week, troubled for-profit college company ITT Tech settled a series of lawsuits brought by shareholders that charged ITT with various securities law violations.
In a well-publicized 2012 action, the attorneys general of 20 U.S. states stopped a company called QuinStreet from using a military-branded website, GIBill.com, to steer American veterans to controversial for-profit colleges. But it turns out that marketers, including QuinStreet itself, have continued to engage in similar practices since then.
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.
A federal whistleblower lawsuit against troubled ITT Tech, unsealed last week, reads like a greatest hits of abuses by America's predatory for-profit colleges. The suit alleges that ITT has defrauded taxpayers while systematically deceiving students and violating federal regulations.
The unprecedented Powerball jackpot is supposed to bestow extraordinary riches upon the long-awaited winners. But did you know that each of the three winners will receive less over a 29-year payout than ten U.S. for-profit college companies receive from your tax dollars every single year?
Rohit Chopra, whose principled and determined leadership helped make the Consumer Financial Protection Bureau a strong force in addressing the abuses of predatory for-profit colleges, has joined the U.S. Department of Education as a senior adviser.
On New Year's Eve, as you were preparing to celebrate with loved ones -- and not looking at news -- lawyers for for-profit ITT Tech were filing papers with the Securities and Exchange Commission
The Republican ex-congressman who now works as the chief lobbyist for the troubled for-profit college industry has ushered in the new year with an email asking for-profit college owners to finance a legal brief aimed at limiting the legal risk of companies in fraud cases.
When you think about all the taxpayer money going to for-profit colleges that scam students and taxpayers, the $800 million we have committed to fight global climate change starts to look pretty small.
Students at Broadview University in Orem, Utah were recently informed that the school is selling their building and their campus will close at the end of the semester. The students were told they could transfer to another Broadview University campus or finish taking classes online.
After settling multiple law enforcement investigations this month on absurdly favorable terms, troubled for-profit college company Education Management Corp. (EDMC) may be on the verge of getting a sweetheart deal from Congress -- a deal that would compound the harms that the company already has caused to students and taxpayers.
If law enforcement continues these half-measures, the real power will continue to reside at the U.S. Department of Education, which provides almost all of the funding for these predatory for-profit colleges.