forprofit

Clinton Names For-Profit Critic to Transition Team

Hillary Clinton has named Rohit Chopra, the former student loans ombudsman at the Consumer Financial Protection Bureau, to her campaign's transition team. 

Chopra brings both experience in the higher ed sector and progressive bona fides to the campaign. He was one of Massachusetts Senator Elizabeth Warren's first hires at the agency, where he was a frequent opponent of the for-profit industry and student loan servicers. Politico first reported the appointment.

Since January, Chopra has served as a special adviser to Education Secretary John King, working on higher education. He worked at the Center for American Progress between stints at the CFPB and Department of Education.

Previously, Clinton adviser Ann O'Leary had been the only person named to the transition team with a background in education policy. 

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ITT Tech Halts Enrolling New Students

The California Department of Consumer Affairs' Bureau for Private Postsecondary Education issued an emergency decision last week demanding ITT Educational Services stop accepting new students at its 15 California locations. 

The decision comes after the U.S. Department of Education banned the company from enrolling new students who receive federal funding. 

Since then, ITT Technical Institute posted a new landing page on its website that states, "We are not enrolling new students." The website also details that credits earned by current students are "unlikely to transfer." 

The company also owns Daniel Webster College in New Hampshire, however, that for-profit institution was excluded from the department's ban.

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Education Department bars ITT Tech from enrolling new students with federal aid

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Education Department's new sanctions against the for-profit college include a ban on enrolling new students who receive federal aid and tougher financial oversight.

BREAKING: Education Department Slaps Serious Sanctions on ITT

The U.S. Education Department on Thursday announced several new sanctions on ITT Technical Institutes, which experts said could push the large for-profit chain toward bankruptcy and closure. ITT is facing a wide range of federal and state legal challenges, in addition to scrutiny by its national accreditor, which believes the for-profit chain is unlikely to come into compliance with its requirements. Department officials said the “sweeping” sanctions were necessary to protect students and taxpayer dollars.

The new federal sanctions include moving ITT to a tighter form of financial oversight, dubbed heightened cash monitoring; a freeze on new students receiving federal aid; an increase in the amount of a required letter of credit to $247 million; and limits on the compensation of the for-profit’s executives.

“Looking at all of the risk factors, it’s clear that we need increased financial protection and that it simply would not be responsible or in the best interest of students to allow ITT to continue enrolling new students who rely on federal student aid funds,” John King Jr., the U.S. education secretary, said in written statement.

Iowa regulator agreed with Ashford University's complaint about meddling by federal and California agencies

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Ashford University cries foul on veterans' agency and California for meddling in Iowa's decision to yank the for-profit's GI Bill eligibility, and newly released emails show an Iowa official shared that view.

For-Profit Brooks Institute Announces Closure

Brooks Institute, a for-profit visual arts college, has announced that it is shutting down in October. A letter on the institute's website cited "changes in economic and regulatory conditions." The Los Angeles Times reported that enrollment has dropped from 2,500 students in 2005 to 250 registered for this fall. Last week, The Ventura County Star reported last week that the president had been ousted and that a majority of board members had resigned. Last year, Career Education Corporation sold Brooks to gphomestay, a company that works with international students.

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Report on for-profits in six countries finds similar problems and few benefits

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U.K. report on for-profit colleges in six countries finds few benefits of sector and calls for tighter regulation, while acknowledging lack of data makes it hard to set rules.

Bill Clinton Earned $1.1 Million From Laureate in 2015

Former President Bill Clinton received $1.1 million in payments from the for-profit college operator Laureate Education in 2015, according to tax returns released by the Hillary Clinton campaign Friday.

Clinton also received $562,000 in payments last year from Dubai-based for-profit GEMS Education, which operates K-12 schools in multiple countries.

As Inside Higher Ed reported in April, Democratic presidential nominee Hillary Clinton has promised to crack down on the for-profit industry. But Clinton and her husband have significant ties to the for-profit sector, chief among them the former president’s role as honorary chancellor at Laureate International Universities.

Bill Clinton was paid $16.5 million by the company between 2010 and 2014. He resigned from the chancellor position last year.

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Tough times for ITT Tech with accreditation on the line

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Dramatic enrollment decreases, along with mounting federal and state investigations, threaten the for-profit institution.

U.S. receives thousands of comments on proposed student debt forgiveness rules

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Department of Education receives thousands of comments on proposed regulations for discharge of federal loans when colleges have defrauded students.

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