CURMUDGUCATION: DeVos Backs Corporate Profits Again

CURMUDGUCATION: DeVos Backs Corporate Profits Again

DeVos Backs Corporate Profits Again

If there is one signature feature of a DeVos doctrine, it's that the government should never, ever stand between a business and its revenue stream.

That part of the doctrine was on display yesterday as DeVos officially announced her intention to let for-profit colleges do whatever the hell they want. Okay, that may be an overstatement. What she actually did was roll back the Obama-era requirement that such schools either show that their graduates actually land jobs, or the school would lose access to all that sweet sweet federal money. That was a powerful piece of leverage, because the for-profit colleges focus on veterans and poor folks with the result that a great deal of the for profit college revenue stream comes from the feds, who loan to the students and pay off the schools, guaranteeing that the for-profits get paid and that the students are in hock to the feds.

Rolling back Obama-era protections is problematic because the Obama administration itself did a super-lousy job of riding herd on these predatory schools. At one point, having announced that they were now by golly going to clamp down those outfits, they turned around and bailed out one of the worst. Then, when that outfit collapsed anyway, the feds let them be sold off to a debt-collection agency.

It was after all that foolishness that the administration finally implemented a gainful employment rule. This was also followed by  students scammed by the for-profit agitating to be released from their debts. The Department of Justice requested that the Department of Education simply release the portion of that debt that they held; they refused.

All of that happened before Trump ever descended the escalator to unleash havoc on US politics; it's CONTINUE READING: CURMUDGUCATION: DeVos Backs Corporate Profits Again