Black Arts: The $800 Million Family Selling Art Degrees and False Hopes: The Stephens family has amassed an impressive fortune - the kind of fortune where you name your yacht after yourself - through their for-profit art school The Academy of Art University. Headed by "Doctor" Elisa "The Princess" Stephens, the AAU is being increasingly criticised for leaving students in debt (an estimated $45 million in 2013-14) and exploiting loopholes in funding requirements. [more inside]
If you feel "stuck," "isolated," and "unable to see the future," then a giant, publicly subsidized machine is hungry to prey on your dreams. Politically connected executives suck up billions in taxpayer grants and saddle tens of thousands of already poor students with a lifetime of debt for worthless degrees. Despite lawsuits, the scam continues.
Today, President Obama signed an executive order which places stricter disclosure requirements on recruiters for for-profit schools looking to recruit veterans and soldiers. The move comes amid growing concern among state and federal legislators that for-profit educational institutions are doing more harm than good and are employing predatory recruiting practices especially on veterans who are exiting the military and looking to improve their education through the Post-9/11 GI Bill. [more inside]
Put another way, the company that owns The Washington Post is almost entirely at the mercy of the Federal Government and the Obama administration -- the entities which its newspaper ostensibly checks and holds accountable. "By the end of 2010, more than 90 percent of revenue at Kaplan’s biggest division and nearly a third of The Post Co.’s revenue overall came from the U.S. government." The Post Co.'s reliance on the Federal Government extends beyond the source of its revenue; because the industry is so heavily regulated, any animosity from the Government could single-handedly doom the Post Co.'s business... -- Glenn Greenwald examines WaPo's entanglement with for-profit education