The for-profit sector of higher education has been under attack from the U.S. Department of Education. Major casualties during the past couple of years are Corinthian Colleges and ITT, both put out of business by the cessation of their access to federal money.
Meanwhile, according to today's Chronicle of Higher Education, a quiet giant has been extending its reach into no fewer than 25 nations. Total student enrollment for Laureate University affiliates is more than a million students.
The US flagship for the Baltimore-based mega-versity is Walden University. The DOE actually gives it comparatively high marks... perhaps that means only the best of bad lot. But Walden graduates do earn higher than average salaries. That is, those who actually pay the tuition --- $27K on average v. $16K national average tuition --- and get a degree. The first to second year retention rate is reportedly only 33% as compared to a national frosh to soph rate of around 68%. And loan repayment rates are about what you see in the for-profit arena in general... i.e., crappy.
During this national campaign season we've heard a lot about Candidate Trump's sham Trump University. And we've heard a lot about the Clintons' foundation. Today, the Chronicle story reveals that Bubba has been paid some $17 million to shill for Laureate U. worldwide. What's that all about?
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