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.

Their defenders and lobbyists are described here.