For-Profit Schools, an Obama Target, See New Day Under Trump
And the hits keep coming
For-Profit Schools, an Obama Target, See New Day Under Trump
https://www.nytimes.com/2017/02/20/business/for-profit-education-trump-devos.html?&moduleDetail=section-news-5&action=click&contentCollection=Politics®ion=Footer&module=MoreInSection&version=WhatsNext&contentID=WhatsNext&pgtype=article&_r=0
By PATRICIA COHENFEB. 20, 2017
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Donald J. Trump at the announcement of the establishment of Trump University in 2005. As president-elect, he paid $25 million to settle three lawsuits against the now-defunct institution. Credit Bebeto Matthews/Associated Press
Since Election Day, for-profit college companies have been on a hot streak. DeVry Education Group’s stock has leapt more than 40 percent. Strayer’s jumped 35 percent and Grand Canyon Education’s more than 28 percent.
You do not need an M.B.A. to figure out why. Top officials in Washington who spearheaded a relentless crackdown on the multibillion-dollar industry have been replaced by others who have profited from it.
President Trump ran the now-defunct Trump University, which wound up besieged by lawsuits from former students and New York’s attorney general, who called the operation a fraud. Within days of the election, Mr. Trump, without admitting any wrongdoing, agreed to a $25 million settlement.
Betsy DeVos, the newly installed secretary of education, is an ardent campaigner for privately run schools and has investments in for-profit educational ventures............................