share prices rising: Ed Dept reconsidering its decision to crack down on for-profit diploma mills

[Hannah Bell]

I'm sure the washington post is pleased, since 60% of its corporate profits come from Kaplan Ed.


The U.S. Education Department's schedule for implementing proposed regulations on for-profit schools is not final, according to a media report that caused share prices in the sector to rise.

"We are keeping our options open," Education Secretary Arne Duncan was quoted as saying when asked about a possible delay in finalizing the regulations. His comments appeared in a blog run by Washington publication The Hill.

The remark pushed up share prices for the schools, which have been volatile on news that the Education Department may declare some programs ineligible for financial aid.

Shares of Corinthian Colleges were up 10.53 percent at midafternoon at $6.80. Apollo Group was up 2.91 percent at $51.91. DeVry Inc was up 3.7 percent at $45.96 and Career Education Corp was up 6.22 percent at $22.01.

http://www.reuters.com/article/idUSTRE68M4MJ20100923