After the Financial Crisis, for-profit schools prospered across America at the expense of students saddled with thousands of dollars in debt, employees abandoned or implicated, and the government swindled out of taxpayer money.
Listen on Apple Podcasts | Google PodcastsThis is the first part of Yahoo Finance’s Illegal Tender podcast series on for-profit colleges. Listen to the episode here.
“We saw the schools viewed these students as nothing more than dollar signs with heartbeats,” Shebanow told Yahoo Finance’s Illegal Tender podcast. The Tampa admissions director said the recruiter he was with “was a former exotic dancer and dressed very provocatively” and that the entire act was “all a part of the recruiting effort for FT.”
Story continuesThis is the first part of Yahoo Finance’s Illegal Tender podcast series on for-profit colleges. Listen to the episode here. “I mean, this was literally two weeks before graduation … so she was acting off panicked and concerned and that if I didn't get any more funding, I wasn't going to be able to graduate,” he said.
Creditors came after Wood and people close to him but stopped after the loans were likely forgiven as per a June 2019 settlement. Publicly-listed for-profit schools report earnings, providing a glimpse of how they view the business landscape. Strategic Education , which owns Capella and Strayer, reported earnings this week.
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