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Sat Jun 11, 2016, 08:45 PM

Feds Consider Whether to Shut for-Profit College Watchdog

Source: Associated Press

Feds Consider Whether to Shut for-Profit College Watchdog

By COLLIN BINKLEY, ASSOCIATED PRESS BOSTON Jun 11, 2016, 9:48 AM ET

Federal education officials are deciding whether to shut down the nation's biggest accreditor of for-profit colleges over allegations that it overlooked deception by some of its schools.

The Accrediting Council for Independent Colleges and Schools is meant to be a watchdog for hundreds of for-profit schools, wielding the stamp of approval that colleges need to receive federal money. It's one of many accreditors authorized by the U.S. Education Department to ensure the quality of schools. But the nonprofit is being accused of employing lax standards and failing to stop schools from preying on students.

Institutions that have operated under the group's certification include the Corinthian College chain, which closed in 2015 amid fraud allegations, and the ITT Technical Institute chain, which now faces federal charges of fraud. Even after the federal Consumer Financial Protection Bureau began investigating both in 2013, the council found no major problems during its own reviews. In 2014, it included two Corinthian schools on its annual "honor roll."

"If accrediting agencies aren't willing to stand up against colleges that are breaking the law, colleges that are cheating their students, then I don't know what good they do, and I sure don't know why we would let them determine which colleges are eligible for federal dollars," Sen. Elizabeth Warren, D-Mass., said at a congressional hearing on Corinthian last year.

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Read more: http://abcnews.go.com/Politics/wireStory/feds-shut-profit-college-watchdog-39778546

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Reply Feds Consider Whether to Shut for-Profit College Watchdog (Original post)
Eugene Jun 2016 OP
jtuck004 Jun 2016 #1

Response to Eugene (Original post)

Sun Jun 12, 2016, 04:45 AM

1. "Thanks to a mountain of evidence gathered for a pair of major lawsuits by the San Diego-based law f

 


...
Thanks to a mountain of evidence gathered for a pair of major lawsuits by the San Diego-based law firm Robbins Geller Rudman & Dowd, documents that for the most part have never been seen by the general public, we now know that the nation's two top ratings companies, Moody's and S&P, have for many years been shameless tools for the banks, willing to give just about anything a high rating in exchange for cash.
...

http://www.rollingstone.com/politics/news/the-last-mystery-of-the-financial-crisis-20130619#ixzz4BLtU9iuF

This accreditor must not have bought the right people. Othes who do such things have been made whole with taxpayer money, and some are richer than ever.

If they can't even follow the map that was laid out before for successfully undermining the American people, maybe they should...go.

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