Change.edu' and the Problem With For-Profits

Read this article for a damning view of some for-profits.

'Change.edu' and the Problem With For-Profits - Commentary - The Chronicle of Higher Education

I must be frank in that a great deal of my objection to a school that will remain nameless (to avoid fights about it) is that it was sold to a private equity firm with a subordinate note: "XXcon partnered with a private equity group (YBridge) to provide capital structure solutions through various changes in the nature of the transaction, including the departure of the sponsor’s co-investor, uncertainty in the senior debt markets and purchase price adjustments.XXcon invested senior subordinated notes with warrants, convertible preferred stock and common equity and is a significant minority equity owner."

I believe that many of the changes at this school were to wring out even more profit than they had going in, which was 45% a year.