Howard Schultz put millions into controversial for-profit university
Ex-Starbucks CEO Howard Schultz, pondering an independent run for President, has invited inquiry into where the billionaire coffee magnate has put his money.
Schultz co-founded an investment capital group, Maveron, that put $7.5 million into for-profit Capella University in 2003, with a 2008 Securities and Exchange Commission filing revealing that Schultz owned 50,000 shares of Capella stock.
The revelation, first reported by Politico, has implications back home in Seattle.
Attorney General Bob Ferguson and other AGs have gone after another for-profit, Corinthian Colleges, and Ferguson has championed legislation calling for a Student Loan Bill of Rights. The Washington AG's office publishes a Student Loan Survival Guide.
In mid-2017, Ferguson demanded that U.S. Education Secretary Betsy DeVos end delays in canceling federal student loan forgiveness for thousands of Washingtonians victimized by predatory for-profit colleges.
In making Maveron a minority shareholder in Capella, Schultz said at the time: "Capella wants to transform education for working adults by making the online experience as compelling and rewarding as possible."
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This guy absolutely reeks of one-percenter white male privilege.
