The news is out: [For-profit colleges across the U.S. received millions of dollars from the federal government in response to the coronavirus pandemic, with some acting as both businesses and higher education institutions.
According to data compiled by Accountable.US, a nonpartisan government watchdog group, 114 for-profit colleges received at least $64 million through the Paycheck Protection Program (PPP). And within that list, many were also allocated money by Education Department (ED) through the CARES Act.
“Few industries have received more special treatment from the Trump administration than for-profit colleges, and an invitation to double dip in taxpayer money is the latest example of that,” Derek Martin, a spokesperson for Accountable.US, told Yahoo Finance in a statement.
The Trump administration rolled back key protections for students defrauded by for-profit colleges, leading to multiple lawsuits from attorneys general and others against ED Secretary Betsy DeVos and the agency. Consumer advocates worry that predatory for-profit colleges could thrive in the pandemic-induced recession like they did during the Financial Crisis.]
All this was predicted in my previous posts. Now, we all can sit down and watch how much money they will contribute to the various political campaigns. This is the typical legal way to launder money. When the mafia did it, it was wrong and illegal.