In one of the most ethically-challenged actions of former Education Department officials, a group made a bid for the for-profit University of Phoenix, whose fortunes were waning due to regulations and oversight by the prospective new purchasers. The Wall Street Journal cried foul when the deal went public months ago, saying that the same government officials who drove down the UP stock price were taking advantage of the low price for their own gain.
Politico reports that enrollment at UP continues to fall, but the deal is moving ahead:
“WITH SALE ON THE LINE, UNIVERSITY OF PHOENIX ENROLLMENT DOWN AGAIN: The parent company of the University of Phoenix reported another sharp drop in enrollment Thursday, while a proposed sale of the for-profit college giant continues to hang in the balance. Apollo Education Group told investors that enrollment at the University of Phoenix was 142,500 as of Aug. 31 – a more than 25 percent decline from a year earlier. New enrollments also fell by nearly 27 percent, to 19,400. A group of private investors with ties to the Obama administration are seeking to buy Apollo. The company had previously warned that if the sale wasn’t completed by early October, its worsening financial condition might sink the deal. But Thursday Apollo Education told investors that it currently meets the minimum financial standards required for the deal to close – and expects to continue meeting those standards going forward. Michael Stratford has more.”
To read the links, read here: http://www.politico.com/tipsheets/morning-education/2016/10/obama-administration-pushes-new-block-grant-216991
Graduation rates at for-profit institutions are abysmal.
They have been called predators in Cipongressional hearings. They prey on the unwary.

Word must be getting out. How long will it take before enough people are aware of these criminals and frauds to see them go out of business?
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Wasn’t a big part of President Obama’s agenda coming into the White House to stop the revolving door from government officials to lobbyists and around and around? He made such a big deal out of restrictions on his appointees. It’s surprising they would be so blatant as to seek to turn a profit off a business they regulated (or failed to).
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Thank you of your comment, Karen. No kidding.
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“Wasn’t a big part of President Obama’s agenda. . . ”
Just shows the Obombers brilliance.
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Like most for-profts that depend on federal funds, these outfits will depend on a thousand excuses and micro-improvements in order to requalify for federal funds. Few can operate without them. USDE insiders moving into ownership roles have the insider knowledge to pass the minimal requirements for operation.
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The University of Phoenix gave me an amazing education. I can honestly say I received an exemplary education and it was much better than any education at any not-for-profit state public universities I have attended. I learned amazing skills and consider myself a scholar who is published and notable in his field. The University of Phoenix’s curriculum was rigorous, meaningful, relevant, and applicable.
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Flores,
Ha, ha, ha.
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I went to the fully-accredited (regional accreditation by the Higher Learning Commission) for-profit University of Phoenix and I can honestly say I received an exemplary education and it was much better than any education at any not-for-profit state public universities I have attended. I learned amazing skills and consider myself a scholar who is published and notable in his field. The University of Phoenix curriculum was rigorous, meaningful, relevant, and applicable. Not all for-profit schools are “bad” and many schools are changing and adapting to the new rules, for the better! Oh, and let us not start a new form of discrimination where we discriminate against for-profit graduates. These are some of the hardest working Americans I know! And those who complain about not finishing UoPx… they could not handle the rigor. Do not ever undermine anyone’s education. I love the University of Phoenix, enrolling students since 1976, and so do its 1,000,000 Alumni!! Surveys conducted suggested that 92% of alumni are satisfied with their education and outcome. Finally, DO NOT forget that the University of Phoenix educated the non-traditional students and I thank the University of Phoenix! The University filled a demand where “traditional” academia would NOT! Stop vilifying my school!
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Well, I guess we can take some comfort, or at least enjoy the schadenfreude, of watching the so-called reformers cannibalize each other… that is, until we realize that it’s ultimately students and taxpayers on the menu.
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