Hillary? Trump University vs Laureate Education…uh-oh
Hillary firmly believes that Trump University should be charged according to the two class action lawsuits pending. She has rallied to have Trump University remanded and fined for its heinous preying on the misfortune of students who sought a better life…she has declared the school a scam and a fraud… Uh-oh
Hillary needs to check her bin of deleted emails, because Laureate University for which Mr. Bill was honorary Chancellor raking in $16.46 million for his honor, is in the midst of a number of honorary class action lawsuits and is having severe financial difficulties with four of its institutions in the US… Despite these actions against Laureate, the President, Douglas Becker, received a base salary in 2014 of just shy $1million after which ‘performance awards’ bumped that number well over $1.7 million and total compensation is listed at $2.46 million according to Bloomberg. Mr. Becker is a high school graduate. He has been said to be a good pitch man and hustler.
But Laureate is hardly a gem in a field of coal, it spends 41% of its revenue on marketing, and just 18% on instruction. The students and alumni at Walden, one of their US schools, have accumulated the second highest Federal loans of any school in the US with only 44% of its undergraduates attempting to pay after three years of graduating. Reviews are scandalous, and a class action lawsuit is pending. Laureate has over $4.5 billion in outstanding debt coming due in 2017, and a caving attempt at an IPO to manage even the interest on it’s debt.
The other Laureate US school undergoing a class action lawsuit is the University of St Augustine claiming omissions, negligence and misrepresentation.
Telemarketers and sales people are paid bonuses for luring people across the world to sign up for this online university which preys predominantly on Latin American, African and Malaysian enrollment. During his tenure as honorary Chancellor, Mr. Bill traveled to Malaysia, Brazil, Peru, and Chile. It is considered the ‘school of choice when you flunk out elsewhere’. And accreditation in one Chilean university has been withdrawn due to poor performance.
Embroiled in the mix is the fact that Laureate contributed to the Clinton Foundation, Becker was deeply involved in the Clinton Initiative, and while Hillary was head of the State Department, they pumped $55 million to a group run by Douglas Becker, International Youth Foundation. IYF is a foundation whose mission statement is: to prepare young people to be healthy, productive and engaged citizens. Their five highest paid consultants are all from – Jordan. And their revenue source is government grants and other contributions. The focus of its grants are the Middle East and Sub-Sahara Africa.
On total expenses of $34 million, roughly $9 million went to grants – roughly 26% – incurring a net loss of $10 million.
Effectively, this is a Jordanian company operating as a US company based in Baltimore, raising money through USAID and the US federal government to support children in Jordan while spending the vast majority on consultants, employees, and executives.
Soros, a private equity group, KKR, and a subsidiary of the World Bank are prominent investors in Laureate. Laureate recently agreed to sell the France program to APAX Partners, a UK private equity company.
Could Clinton be named in the lawsuits given he was acting as Chancellor from 2010 through 2014? While he would most likely attempt to state he had no knowledge of any misleading or false advertising, as Chancellor, he would have purported knowledge. A Chancellor is considered the leader or ceremonial head of an educational institution. They operate in the same function as that of a CEO for a private company, including complete oversight responsibility, including values, quality control, budgets, economic development, etc…
But Clinton’s role in specifically recruiting students who couldn’t afford the tuition, misleading them into what the potential degree could do for them financially, and making misleading and potentially fraudulent statements could put him at the center of Laureate Education lawsuits – and thus by default The Clinton Foundation, The Clinton Global Initiative, and Mz. Hillary. During his tenure, enrollment went from 550,000 to 800,000 making them the largest for-profit education institution in the world. To say Clinton didn’t act for Laureate in the capacity of ‘economic development as Chancellor’, is short-sighted at best.
As of 2015, a bill co-authored by Elizabeth Warren, aka Pocahontas, Students Before Profit, holds executives of for-profit schools accountable for deceptive practices.
Mr Bill? Mr. Bill?