The Education Management Corporation is based right up the road from me in Pittsburgh, PA. They're a for-profit education provider whose best-known outlet is the Art Institute chain. (They should not be confused with the Education Credit Management Corporation, an outfit that is also in the for-profit college biz, having bought up the pieces of the Corinthian empire.)
They've had their problems. You know a company has been struggling when its website proudly announces front and center that it has struck a deal with thirty-nine states, the District of Columbia, and the Department of Justice to end the many, many, many state and federal suits, investigations, and charges against it for fraud and bad recruiting practices.
|Mock my hair all you want. It cost more than your house.|
Now this morning's Politico includes other shenanigans-flavored news:
The latest downsizing move by one of the nation's largest for-profit college chains — the cash-strapped Education Management Corporation — may be selling off campuses to a company in India.
The company in question appears to be Ritman Balved Education Foundation, a non-profit that runs the relatively huge Amity International Schoolchain. Massachusetts Attorney General Maura Healey (one of the thirty-nine attorney generals involved with EDMC's other shenanigans) describes the sale as a "plan to outsource the remainder of its teach-out obligations to an unlicensed foreign entity."
Amity is part of a rising trend in India of private universities, a trend that attracted attention from the Wall Street Journal in 2007. That story notes that India was having trouble adjusting to the rise of private businesses in education, and that while Indian law required schools of higher learning to be non-profit, they were still plenty expensive and CURMUDGUCATION: Outsourcing College: