Blog Archives

Harkin, Durbin and Four Other Democrats Call for Stricter Oversight of For-Profit Finances

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Six Democrats in the U.S. Senate on Tuesday urged the Obama administration to step up its oversight of the financial health of for-profit colleges. In a letter to Mr. Obama and other administration officials, the senators, led by Sen. Tom Harkin of Iowa and Sen. Richard J. Durbin of Illinois, said that …

Documents Show What The Department Of Education Knew About Corinthian College’s Financial Situation

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The Department of Education has consistently maintained that it “didn’t know” how precarious the financial situation of Corinthian Colleges was when it moved to cut off the for-profit college company’s access to federal funding — leading the to the for-profit college operator’s collapse.

But previously unpublished documents provided to BuzzFeed by the Department …

edX CEO: ‘It Is Pathetic That the Education System Has Not Changed in Hundreds of Years’

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In just a few years, massive open online courses have already been through a multiple phases of the Gartner "hype cycle." But Anant Agarwal, CEO of the nonprofit MOOC platform provider edX, remains undaunted. One of edX's goals was to increase access to education, and by all accounts it has succeeded. By …

Public Institutions Limiting Access to Grants for Students

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The board unanimously approved a cap that prevents UNC campuses from devoting more than 15 percent of tuition revenue to financial aid. For six campuses that currently reach or exceed the 15 percent threshold – including N.C. Central, N.C. State and UNC-Chapel Hill – tuition-funded financial aid dollars will be frozen.

Board members …

Anthem Institute Files Notice to Shutter Career Training Schools In N.J., Lay Off 160

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The financially-troubled career training school Anthem Institute has filed plans to shutter its four New Jersey campuses and lay off 163 adjunct teachers and administrative staffers, part of a companywide restructuring that includes a potentially sale.

Its parent company, Anthem Education, provide “career-focused education and training programs” in massage therapy, medical billing and …

ITT Plunges After Property Deal Abandoned; CEO to Resign

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ITT Educational Services (ESI) Inc., a for-profit college operator, fell the most since it went public almost 20 years ago after a deal to sell and lease back real estate fell through.

Separately, Kevin Modany, who has served as chief executive officer since 2007, will step down effective Feb. 4, 2015, Carmel, Indiana-based …

Bridgepoint Restates Financials Citing Internal Controls

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Bridgepoint Education Inc. (BPI), an operator of for-profit colleges, restated its financial reports back to 2011, citing material weakness in internal accounting controls and the misstatement of revenue and debt provisions.

Bridgepoint failed to continually reassess assumptions of revenue collectibility, according to securities filings. It identified adjustments to revenue, provision for bad debts, …

Colleges Get Mixed Grades On Teaching Digital Workforce Skills

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Many employers in this country want all college grads to have better technical skills than they currently graduate with, and one in four employers say recent college grads are unprepared for even entry-level jobs.

Those are among the findings of a new study by Internships.com, the world's largest internships marketplace, and General Assembly, …

Get a Degree at Starbucks

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Plenty of companies offer their employees education assistance on better terms. Communications Workers at Verizon have negotiated $8,000 a year in tuition, to use at virtually any school. Workers don’t pay the upfront costs—Verizon does. These workers already have full-time, benefited jobs. They can improve their computer literacy, get a bachelor’s or …

University Of Phoenix Barred From Enrolling Veterans In 7 Programs

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California regulators have barred the University of Phoenix from enrolling veterans in seven popular programs at its San Diego campus.

The action came after auditors found the for-profit college had violated a decades-old rule to prevent the improper targeting of veterans. The state order covers four undergraduate programs and three master’s programs, including …

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