2016 Postmortem
Related: About this forumThe Student Loan Debt Bubble, Predatory For Profit Schools and the Clinton Connection
The newly released tax returns also revealed how much money Bill Clinton collected for his role as an honorary chancellor of Laureate Education Inc., a massive for-profit college system. From 2010 through 2014, the former president took in $16.5 million from the organization. He left Laureate, which has been a major donor to the Clinton Foundation, in April of this year, less than two weeks after his wife launched her presidential campaign.
http://www.nationaljournal.com/s/70784/hillary-clinton-releases-her-tax-returns
A new study from the Center for American Progress finds that just 20 universities account for nearly one-fifth of all grad student debt, a total $6.6 billion. Whats perhaps most surprising is who those universities are: 10 of the 20 are for-profit schools, including two foreign schools.
The only requirement seems to be money, and if you dont have it, they will help you borrow it (often from the federal government). The degrees themselves are barely worth the paper they are printed on, because the reputations of most of these schools arewell, lets just say they arent good. Graduate degrees do improve your career choices, if you get them from a well-regarded institution. But when the school isnt even ranked in the top 200, a degree isnt going to open any doors, and its certainly not worth borrowing tens of thousands of dollars to get one.
The biggest borrower on the list is Walden University, whose grad students borrowed $756 million last year, according to the CAP report. Walden is owned by Laureate Education, a for-profit education company that hopes to go public next year. This seems to be a profitable enterprise, at least for its CEO.
http://www.forbes.com/sites/stevensalzberg/2015/07/12/for-profit-colleges-encourage-huge-student-debt/#4a4519702a05
In 2001, when Walden University was purchased by what would soon become the worlds largest for-profit college company, the small Minnesota college had just over 2,000 students. By 2010, it had swelled to some 50,000 students across the globe.
The company that took over Walden and guided it through growth of 2,400% over 10 years was not Apollo, which owns the University of Phoenix, or any of the other for-profit college giants that are traded on the New York Stock Exchange. Waldens owner is Laureate Education, a private, internationally focused education company that also happens to be the biggest on the planet. Its a little-known giant that tends to stay out of the public eye, even though its honorary chancellor is Bill Clinton and its investors include private equity giant KKR and financier George Soros.
http://www.buzzfeed.com/mollyhensleyclancy/laureate-lawsuit#.wgJr26Kr6
KingCharlemagne
(7,908 posts)Skwmom
(12,685 posts)VulgarPoet
(2,872 posts)eom
pinebox
(5,761 posts)with the youth vote and this just shows why.
Skwmom
(12,685 posts)AtomicKitten
(46,585 posts)Skwmom
(12,685 posts)I'm sorry to hear about your son.
People should be able to get quality schooling and technical training in the country without going into debt. The government is more than repaid when the kids can get good jobs and pay taxes.
AtomicKitten
(46,585 posts)The fact that a Clinton was on the ground floor of this scheme makes my blood boil.
cali
(114,904 posts)If he was a republican, all the hill supporter would be screeching about it.
AtomicKitten
(46,585 posts)The Treasury Dept found an old tiny student loan residual of mine from 1983 & added $13,000 to it.
My Social Security is being garnished 15% every month.
gyroscope
(1,443 posts)hard to imagine they could go any higher, but they certainly won't be dropping anytime soon, along with the further proliferation of predatory diploma mills where you can get a worthless degree that will cost you tens of thousands in student debt. Congrats!
American Dream or American Nightmare? The Clintons are corrupt beyond words.
ljm2002
(10,751 posts)...over 4 years from a private, for-profit college system?
I guess I should not be surprised, but I find that figure shocking.
Skwmom
(12,685 posts)99Forever
(14,524 posts)Tell again why a Democrat would want to vote for these people.
Skwmom
(12,685 posts)AzDar
(14,023 posts)Same with Health Care, btw...Fucking DISGUSTING.