17
Oct
16

President Obama: A Champion For Students

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Molly Hensley-Clancy: The Industry That Was Crushed By The Obama Administration

When Barack Obama took office, America’s seven largest publicly traded college operators were worth a combined $51 billion, with more than 815,000 students enrolled at campuses spread across the country. The schools were flooded with with people seeking shelter from the recession, returning to school to pick up new skills. Almost eight years later, the industry has been decimated. The seven largest listed operators are worth just over $6 billion, and the most valuable company in the sector has spent the last two years desperately trying to become a non-profit. Two of the largest companies in 2009 are now bankrupt, and two more are in the process of being taken private. A withering war on for-profit schools by federal and state authorities, combined with an improving economy that made trade schools less lucrative, has left the industry a shadow of its former self. It could be one of the defining legacies of the Obama era.

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The administration’s more aggressive approach hit its stride in its final two years, as the Education Department honed and expanded its power. It pushed through a set of strict new rules late in 2014, and is preparing to pass another that could have even more far-reaching impact. Last month, one of its long-standing foes, the ITT Tech chain of for-profit colleges — valued at $4.6 billion in early 2009 — filed for bankruptcy after an Education Department ruling effectively ended its viability as a business. The Education Department has begun to turn the tables on for-profit schools by using their almost total dependence on government money as an avenue for regulatory power. It is seeking to make access to federal dollars conditional on schools changing their practices — for example, by requiring schools to eliminate mandatory arbitration clauses from their enrollment contracts, giving students the right to sue.

More here

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110 Responses to “President Obama: A Champion For Students”


  1. 3 GGail
    October 17, 2016 at 3:14 pm

    Hellooooooo Almab! Congrats on First and good to see you 🙂

    Thanks NW, this is great news 🙂

  2. October 17, 2016 at 3:21 pm

    NW: THANK YOU thank you thank you for this post on education. Nothing is more important for our young people in their march to success.

  3. 7 GGail
    October 17, 2016 at 3:33 pm

    From the article…
    “The administration’s more aggressive approach hit its stride in its final two years, as the Education Department honed and expanded its power. It pushed through a set of strict new rules late in 2014, and is preparing to pass another that could have even more far-reaching impact. Last month, one of its long-standing foes, the ITT Tech chain of for-profit colleges — valued at $4.6 billion in early 2009 — filed for bankruptcy after an Education Department ruling effectively ended its viability as a business.
    And this week, it officially signed the death warrant of the watchdog that gave its stamp of approval to some of the industry’s worst actors. That single bureaucratic decision could be among the most devastating to the for-profit college world. In shuttering the Accrediting Council for Independent Colleges and Schools, or ACICS, the government will send hundreds of schools scrambling to find a new accreditor. Those that fail to find one will face closure.
    “This has the potential to be very serious,” said Trace Urdan, an analyst at Credit Suisse. Shutting ACICS, he said, will “cull the herd even more dramatically. I guarantee you there will be schools that won’t be able to find a new accreditor.”
    ACICS had been dogging the department for years, offering its seal of approval to all but a few of the most controversial, troubled for-profit colleges — despite mounting accusations of fraud and abuse. Once they received its green light, they could tap into the virtually unlimited flow of federal student loans, with their billions in revenue only limited by how many students they could sign up.
    As criticism mounted of the growing pile of student debt racked up at underperforming colleges, government officials said there was little they could do as long as the schools remained accredited. But this summer, when ACICS applied to have its mandate renewed, both the Education Department and an independent panel recommended taking the most severe action: shutting it down as quickly as possible.”

  4. 8 GGail
    October 17, 2016 at 3:43 pm

    This article is great! Here in SoCal, we had these for-profit schools popping up all over the place, touting Nursing Assistant programs and then they would shut the doors, without notice, leaving the students wondering what happen to their education, they now have a loan and no classes and who can they complain to?
    Well, the Obama Administration has a solution…
    “The new regulation, which is not yet finalized, allows students to exert defense to repayment claims if they feel they were “misled” by their schools, a much broader allowance than the initial clause, which required actual lawbreaking. That interpretation surprised even some liberal observers by how hard it hit, particularly against for-profit schools.
    And the regulation gives the Education Department significant and expanded powers, like the the authority to automatically discharge the loans of large groups of students in the face of evidence of widespread wrongdoing. It can also levy financial penalties against schools where many students claimed fraud.”

    “Thanks Obama”

  5. October 17, 2016 at 3:44 pm

    Thanks for this Nerdy.

    So much good PBO and his administration has done. This is a big one. Education is the bedrock, and making it easy for our younger generation is so important. And getting bilked by these schools, my God. I almost got caught up in that web when I was desperate after losing my job in 2008 and was trying to go back to school to be more marketable.

    It is awe-inspiring just watching PBO and all that he’s done these last eight years — especially with no help from the other side of the isle.

  6. October 17, 2016 at 3:47 pm

  7. October 17, 2016 at 3:51 pm

    LOLz. Support Doug Applegate!

  8. 19 JER
    October 17, 2016 at 4:00 pm

  9. 20 jackiegrumbacher
    October 17, 2016 at 4:08 pm

    Nerdy, thank you for this information. It’s a very big deal that the Obama administration has stopped this reckless growth of for-profit “colleges” that were essentially overcharging students and giving them nothing in return. So many brilliant achievements of PBO’s presidency have gone unnoticed and unappreciated, but have had lasting, positive effects on human lives. We will be learning about them for years.

  10. October 17, 2016 at 4:30 pm

  11. October 17, 2016 at 4:31 pm

  12. October 17, 2016 at 4:34 pm

  13. 27 donna dem 4 obama
    October 17, 2016 at 4:51 pm

    They are doing their thang down there in Georgia and I’m loving it!!!

  14. 30 nospin
    October 17, 2016 at 4:55 pm

    I am so sick of hearing about HRC’s emails, I wish she would on Wednesday, cite the amount of money spent by the Republicans in Congress and all the hearings to assess wrong doing. Nothing notable was found. If republicans in Congress couldn’t find anything then by all means, folks can have at it with the Wiki leaks documents that were most likely altered by the Russians and Assange. Good luck with that.

    She should say that she already apologized for using a personal server and repeat that in hindsight, it was a poor choice and move on to the next topic. If they say well Trump says the media should bring it up daily..then she can say, well they are certainly welcome to do that but she has voters to meet and a case to make before Nov 8. and move on.

  15. 32 donna dem 4 obama
    October 17, 2016 at 4:59 pm

  16. October 17, 2016 at 5:06 pm

  17. October 17, 2016 at 5:11 pm

    4-1/2 waits in Gwinnett County, GA — a few people fainted from the heat…

    “Some wait several hours as early voting begins in Georgia”

    http://www.wsbtv.com/news/politics/early-voting-begins-across-state/458139151

    ——–

  18. October 17, 2016 at 5:14 pm

  19. October 17, 2016 at 5:20 pm

  20. October 17, 2016 at 5:24 pm

    Excepts from an interview on Anderson cooper tonight… Has Melania the vampire saying it was all billy bush fault and says he egged on my husband??,

    I see… 👀

    Alrighty then👎👎👌👌👌😖

  21. 52 donna dem 4 obama
    October 17, 2016 at 5:35 pm

    Wait for that “good?” at the very end. Ya gotta Love Him!

    I can’t watch this enough!!

    • 53 GGail
      October 17, 2016 at 7:13 pm

      I heard it too Donna.
      I love how he really enjoys having good fun. Oh what I would give to have a few minutes to just kick it with him and/or FLOTUS once they leave the WH.

    • October 17, 2016 at 8:40 pm

      Easily my favorite ad of the season!! LOVE IT!!

      • 55 idon
        October 18, 2016 at 12:05 am

        I keep rewatching it. Maybe we could just put it on each new thread so I don’t have to look for it in a previous thread. I agree best ad of the season.

  22. October 17, 2016 at 5:39 pm

  23. October 17, 2016 at 5:44 pm

    Does this mean they didn’t want to turn over the documents and file the forms they were required to file? Will they be asked to return the money that was donated?

    • 59 99ts
      October 17, 2016 at 8:03 pm

      From the link – why am I not surprised
      “The Donald J. Trump Foundation also requested and was granted an extension for filing its financial paperwork in the state, The New York Times reported Monday.”

      The bigoted obnoxious orange head will answer to nothing during this campaign. EVERYTHING Hillary does is under the microscope – everything asked she complies. Why is this excuse for a person allowed to ignore it all. I get so incensed. Please please may he lose yoooogely.

    • 60 99ts
      October 17, 2016 at 8:04 pm

      Just imagine if the Clinton Foundation did this – the media would be screaming from the rooftops – grrrrr

      • October 17, 2016 at 10:32 pm

        INORITE!? Perhaps he considers the video and assault accusations the least of his worries; that it’s a case of he said she said. It’s keeping the gullible media attention away from his pending charges and court trials. The Art of the Distraction.

  24. October 17, 2016 at 5:45 pm

  25. October 17, 2016 at 6:03 pm

    ICYMI, Sec of Energy Ernest Moniz in conversation on Charlie Rose:

    https://charlierose.com/videos/29332

  26. October 17, 2016 at 6:11 pm

  27. 69 Nerdy Wonka
    October 17, 2016 at 6:15 pm

  28. 70 MadameSoph
    October 17, 2016 at 6:18 pm

    Thank you Nerdy Wonka for highlighting this wonderful work by our POTUS!

    I noticed this was posted on previous threads, but I just read the article (in three parts – but worth it) and I had to share in case some haven’t yet read it. It’s a “do not miss”!!

    To the First Lady with Love:
    http://www.nytimes.com/2016/10/17/t-magazine/michelle-obama-chimamanda-ngozi-adichie-gloria-steinem-letter.html?emc=eta1&_r=0

    Also, want to remind TOD that PBO will be on the Late Show tonight:

  29. 71 Nerdy Wonka
    October 17, 2016 at 6:25 pm

  30. October 17, 2016 at 6:36 pm

  31. October 17, 2016 at 6:43 pm

    “The Swedish Academy says it has given up trying to reach Bob Dylan, days after it awarded him the Nobel prize in literature. “Right now we are doing nothing. I have called and sent emails to his closest collaborator and received very friendly replies. For now, that is certainly enough,” the academy’s permanent secretary, Sara Danius, told state radio SR on Monday. So far the American troubadour has responded with silence since he won the prize on Thursday…

    …He gave a concert in Las Vegas that very night, but made no mention of the accolade. In what may have been a veiled allusion to his long-term reputation for what some have called perversity, and others an admirably dogged persistence in forging his own path, Dylan’s set ended with a cover of Frank Sinatra’s Why Try to Change Me Now. So – as a famous Dylan song may have put it to the Nobel committee – how does it feel? “I am not at all worried,” said Danius. “I think he will show up….continued”

  32. October 17, 2016 at 6:44 pm

  33. 79 Marlz (@marjgra)
    October 17, 2016 at 6:45 pm

    Please TOD, we need to send a strong message to stores like Walmart.
    They are selling mask (black man’s face) and calling it “Thug Life Mask with Bandana” for $12.99.
    This profiling must stop.

  34. 82 Nerdy Wonka
    October 17, 2016 at 7:08 pm

  35. 85 JER
    October 17, 2016 at 7:23 pm


    Elizabeth Warren and Bernie Sanders Campaign For Hillary Clinton in Denver, CO – 10/16/16.

  36. October 17, 2016 at 7:27 pm

    Trump will campaign in Green Bay Monday night, but many Republicans won’t be glad to see him one day after he launched a Twitter tirade against Ryan, the speaker of the House and the pride of the Wisconsin GOP.

  37. 87 No Child Left Behind
    October 17, 2016 at 7:45 pm

    After several days of tough negotiations, Billy Bush is leaving NBC, effective immediately.
    His exit is the result of the leaked 2005 “Access Hollywood” videotape showing Bush and Donald Trump making lewd and sexually aggressive remarks about women.
    Bush, a brand new host of the “Today” show’s 9 a.m. hour, never returned to the show after the tape came out on October 7. He apologized for his conduct in a statement that day.
    In a CNN interview scheduled to air at 8 p.m. ET, Melania Trump blamed her husband’s remarks on Bush, saying the television host had egged him on.

  38. 88 Nena20409
    October 17, 2016 at 7:46 pm

  39. October 17, 2016 at 7:50 pm

  40. 90 Nena20409
    October 17, 2016 at 7:51 pm

  41. 92 No Child Left Behind
    October 17, 2016 at 7:52 pm

  42. 93 No Child Left Behind
    October 17, 2016 at 7:54 pm

  43. 94 No Child Left Behind
    October 17, 2016 at 8:01 pm

    I hope it’s true.

  44. October 17, 2016 at 8:02 pm

    Mmmmmmmmm

  45. 96 Kanga kid
    October 17, 2016 at 8:22 pm

    Its been such a crazy and busy fall for me, but ive been lurking and checking in when ive been able. Just want to say thank you to all for keeping the lights on in support of our president and his legacy.

    I also loved the idea a few threads back of TOLD, the obama legacy diary!! Keep up the awesomness ya’all!

  46. October 17, 2016 at 8:27 pm

  47. October 17, 2016 at 8:28 pm

  48. October 17, 2016 at 9:14 pm

    Every day I am more amazed at the idiocy of the Trump campaign. They send out Melania, half his age, to complain that it wasn’t Donny’s fault because Billy Bush “egged him on.” Is that supposed to impress anyone?

  49. 102 desertflower
    October 17, 2016 at 9:15 pm

  50. 103 desertflower
    October 17, 2016 at 9:17 pm

    WHAT THE CREEPY ASS FLYING FUCK IS THIS???? Who volunteers to put their child in the hands of a sexual predator?

    • 104 Obama Grandmama
      October 17, 2016 at 11:54 pm

      Not only women hate unwanted kisses, but kids do too. I even let my grandkids make the first advances in hugging or kissing me. It is surprising that an AA parent would let their child be a prop for Trump let alone support him.

  51. 105 magapie
    October 17, 2016 at 9:21 pm

    Rigged. Man. Hate that. Well, no point for trumpers to vote. Yep. Just stay home and watch Apprentice. It’s all you got.

  52. 106 desertflower
    October 17, 2016 at 9:24 pm

    DT thought she was a protester and said to get her out of there….meanwhile, in Care and Compassion Land…

  53. 108 globalcitizenlinda
    October 17, 2016 at 9:43 pm

    do not be surprised when the demagogue’s campaign suddenly remembers that his wife is not an English-as-First-Language person & tries to use this as the excuse for whatever garbage she just told Anderson Cooper;

    we have seen stupid, then there is sheer stupidity of that campaign


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