For-Profit Kaplan University Pays Executives a Quarter Billion Dollars ...
The for-profit college and university business is a $30-billion-dollar industry in the United States. According to investigative journalist Daniel Golden, in the last decade, the for-profit colleges and universities have tripled enrollment and recorded profits of $26 billion. (1)
For-profit colleges have been paying lavish and grotesquely huge compensation to executives, both former and current, using money from student loans and government grants for decades. For-profit college executive compensation is currently under scrutiny by Congress because nearly all revenues that constitute the exorbitant and scurrilous executive pay packages come from federal grants, such as Pell Grants and loans, and such as Stafford Loans under the Title IV program. These grants and loans are tax monies collected by the government; they are then turned into subsidies for the for-profit educational industry. Double-digit annual growth in revenues and excessive executive compensation coupled with deceptive marketing, high tuition, low graduation rates and high loan default rates have driven a climate and culture of student exploitation, misappropriation of public monies and political corruption.
The average three-year default rate has been estimated at 22.4 percent for for-profit colleges, 6.7 percent at private nonprofit colleges and 9.7 percent at public colleges. (2) ProPublica, an online journalistic source, reported that the Department of Education (DOE) indicated that over 40 percent of the money lent to students at for-profit institutions would be in default at some point over the life of the loans. The DOE did not say how much of this money would ultimately be lost to the Treasury. (3) Borrowers in default can and often do end up repaying what is owed, but students themselves will tell you this is harder and harder to do as the economy gets worse and worse and job opportunities dry up faster.
The for-profit educational complex commodifies education as one would any product. They repackage predatory business practices, similar to those found in the subprime mortgage fiasco, and sell the educational product to students in what they claim is "a service" to "the low income constituencies" and thus as a benefit to society as a whole. Vulnerable populations, such as veterans, minorities and single working mothers with children, are targeted and lured into the for-profits with promises of a bright, rosy future containing decent jobs, higher pay, the ability to buy more "stuff" and a better life through government-financed and subsidized education provided by for-profit providers. Nothing could be further from the truth.
phoenix payday loans - News
The building formerly housed a convenience store and a payday-loan operation. But the location is closer than permitted to a residential area and the Phoenix Mountain Preserve. City law requires dispensaries to be 250 feet from homes and a quarter mile
Along with subprime mortgages, payday loans, check cashing joints, car title company loans, furniture rental chains and other financial parasites, for-profit predatory colleges have taken their place as predators on the poor - inflicting misery and
At 1:00 pm ET, he speaks in Cedar Rapids, IA, then by 5:35 pm ET, he speaks in Phoenix, AZ, before heading to Las Vegas, where he spends the night. On Thursday, he speaks in Las Vegas before jetting to the Denver suburb of Aurora, CO, in Araphoe County
Loans to Solyndra, allowing the National Labor Relations Bureau to shut down a Boeing (BA) plant in South Carolina (ostensibly to appease unions) and rejecting the Keystone Pipeline are all examples of government inefficiency at work, according to
But even he may be stunned at how he beat the odds and scored a major payday at the expense of Illinois taxpayers. The man who was supposed to kill Peluso certainly can't believe it. "It blew me away!” Frank Calabrese Jr. said.
Taking on payday loans - The Providence Phoenix - Boston Phoenix
But repayment left him broke again, and he took out another loan immediately after. Two weeks later, he took out another, and paid another $35 fee. And so it went, on and on, for months. "By the time he told me, he'd borrowed 11 times," recalls Ferri, a Warwick Democrat. "He'd paid them $380 in interest fees, and still owed the $350 he'd borrowed. I ended up helping him out, because otherwise I thought this would never end." His employee's experience pushed Ferri into action. Late last month, for the second year in a row, he filed a House bill that would limit the interest charged by payday lenders. On the afternoon of February 8, as the Phoenix went to press, a coalition of civil rights activists and community organizers were scheduled to hold a State House press conference kicking off a media and lobbying campaign in support of the bill. At one time, almost every state set maximum interest rates around 36 percent, but those limits began to fade as lobbyists persuaded lawmakers that consumers were somehow eager to take on the burden to get easy credit. Today only 17 states and the District of Columbia impose the limits that apply to banks, credit card companies, and other lenders.
Lenders | Lenders Mixed On Economic Signals In Phoenix Survey 
Lenders | Lenders Mixed On Economic Signals In Phoenix Survey 
Lenders | Lenders Mixed On Economic Signals In Phoenix Survey 
Lenders | Lenders Mixed On Economic Signals In Phoenix Survey 
Lenders | Lenders Mixed On Economic Signals In Phoenix Survey