Seedy, Clinton-Backed For-Profit College Company Downgraded To JUNK BOND STATUS
A for-profit educational corporation that has donated to the Clinton Foundation agreed to pay $95.5 million to the Obama administration as a settlement for a government lawsuit alleging that it was using illegal tactics to lure in prospective students.
The Education Management Corporation was sued by the Department of Justice in 2011 for multiple recruitment violations, including paying its recruiters based on the number of students it enrolled, and exaggerating the career opportunities that were available to graduates. The lawsuit argued that the violations made the corporation ineligible for the $11 billion in state and federal financial aid it has received since 2003.
On top of the $95.5 million settlement, the group also agreed to forgive more than $100 million in loans it made to former students, according to the Associated Press. (Excerpt) Read more at freebeacon.com ...
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MORE CLINTON DIRT--Laureate Education is a for-profit education firm; ex-Pres Clinton is a paid honorary chancellor.
This organization has some unusual practices.
For instance, its students serve as telemarketers who pitch the school to prospective new students. It operates in at least three countries (Turkey, Mexico and Chile) where for-profit universities are illegal, author Schweizer notes.
Douglas Becker (a FOB), runs the for-profit university, which engages Bill Clinton to give speeches several times a year. Based on Clintons gargantuan fee scale, that works out to Pres Bill getting perhaps $1 million a year from Laureate, Clinton Cash author Schweizer estimates.
(NOTE On falsified disclosure forms, Pres Bill revealed only that he has been paid more than $1,000 by Laureate.)
Becker also runs a related nonprofit, International Youth Foundation, which coincidentally found its federal grant money has exploded (according to author Schweizer) since Hillary became secretary of state (in 2009) and Bill became honorary chancellor of Becker/s profit-seeking company.
Many of International Youth Foundation grants came from tax dollars---from a State Dept agency---USAID.
Then SoS Hillary took official control of USAID, a move that dramatically reduced its independence, Clinton Cash author Schweizer says.