Thread regarding Career Education Corp. layoffs

Perdoceo Hired Hands

"Perdoceo Education Corp., operator of for-profit colleges that have repeatedly faced law enforcement actions for deceiving and abusing low-income students, announced today that Alan Wheat, a former Democratic congressman representing Missouri, has joined the company’s board of directors. Wheat, a senior policy advisor in the DC office of the law firm Polsinelli, will receive $80,000 per year for his service on the Perdoceo board. Wheat served twelve years in the U.S. House of Representatives, leaving in 1995 after an unsuccessful run for a U.S. senate seat."

"Seven current or recently-departed AIU and CTU recruiters have reached out to me in the past year, one as recently as this month, and they have made clear that the abuses at the company are ongoing. They have recounted in detail how their supervisors relentlessly pressure them to push people into low-quality college programs — often pitting recruiters against each other in a struggle to keep their jobs. Those who previously worked for other for-profit colleges said Perdoceo is far worse in terms of deceptive and coercive recruiting tactics."

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Post ID: @OP+19Pn2SKT

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AIU faces an enormous problem with the closing of the 90-10 loophole. The Center for Investigative Reporting showed that AIU received about 97% of its revenues from federal funds. And now they have Trident, which gets about 75% of its funds from DOD and VA (not sure how much they get from Title IV). CTU also gets about 95% of its revenues from federal funds.

Post ID: @xci+19Pn2SKT

Let's also see what happens with the 90-10 loophole facing closure in 2023. In March 2020, Capitol Forum reported that the US Department of Education allowed AIU to defer $39 million in Title IV money to avoid violating the 90-10 rule.

Post ID: @knf+19Pn2SKT

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