Laureate Education launches FCPA probe into charitable donation

Laureate Education launches FCPA probe into charitable donation

https://www.complianceweek.com/blogs/enforcement-action/laureate-education-launches-fcpa-probe-into-charitable-donation#.WM1f_m_yiJD

Jaclyn Jaeger | December 20, 2016

Laureate Education, a for-profit higher education institution, said that it is conducting an internal investigation into possible violations of the U.S. Foreign Corrupt Practices Act concerning an $18 million donation that one of its network institutions made in Turkey to a charitable foundation.

“We believed the donation was encouraged by the Turkish government to further a public project supported by the government and expected that it would enhance the position and ongoing operations of our institution in Turkey,” Laureate Education stated in a filing with the Securities and Exchange Commission. Continue reading

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Laureate IPO still pending amid political flap, industry crackdown

Laureate IPO still pending amid political flap, industry crackdown

http://www.baltimoresun.com/news/maryland/bs-md-laureate-faces-challenges-20161008-story.html

Douglas L. Becker, chairman and CEO of Laureate Education, takes part on a panel during the second day of Latin America Clinton Global Initiative in Rio de Janeiro in 2013. MUST CREDIT: Photo by Dado Galdieri, Bloomberg ** Usable by BS, CT, DP, FL, HC, MC, OS, SD, CGT and CCT ** (Dado Galdieri / Bloomberg)

John Fritze and Natalie ShermanContact ReportersThe Baltimore Sun

Arrangement with Bill Clinton put Laureate in middle of presidential election.
When Baltimore-based Laureate Education decided to go public last fall, the for-profit university system had just finished a rapid expansion and was preparing to reap the benefits of its newfound global reach.

A year later, the company still hasn’t listed its stock on the market and has become ensnared in the divisive presidential contest between Hillary Clinton and Donald Trump.

The company and founder Douglas L. Becker made news this summer when tax returns released by the Clinton campaign showed that Laureate had paid former President Bill Clinton millions of dollars to serve as its honorary chairman while it was acquiring schools around the globe and Hillary Clinton was secretary of state. Continue reading

For-Profit Colleges Renew Efforts to Destroy Key Accountability Rule

For-Profit Colleges Renew Efforts to Destroy Key Accountability Rule

https://www.republicreport.org/2017/for-profit-colleges-renew-efforts-to-destroy-key-accountability-rule/

MARCH 13, 2017

POSTED AT 8:16 AM BY DAVID HALPERIN

 

 

 

 

 

 

Buoyed by the ascendancy of Donald Trump, America’s predatory for-profit colleges are renewing their multi-front fight to destroy a key measure to hold them accountable: the gainful employment rule. The new battle plan includes pushes in Congress and before the Betsy DeVos Department of Education, plus two new lawsuits aimed at the regulation, including one, in Arizona, that has not been previously reported. It looks like this harmful effort is rapidly gaining traction. Continue reading

Student loan defaults are rising faster than you think

https://www.washingtonpost.com/news/grade-point/wp/2017/03/14/student-loan-defaults-are-rising-faster-than-you-think/?utm_term=.9bb7791247c9

By Danielle Douglas-Gabriel March 14

 

 

 

 

 

 

Gan Gola of Los Angeles holds a ball and chain representing his college loan debt during protests in Washington in 2011. (Jacquelyn Martin/Associated Press)

A new analysis of federal student loans reveals that the number of people severely behind on repaying their debt has soared in the past year, painting a bleak picture of one of the largest government programs.

The Consumer Federation of America (CFA) released a study Tuesday that found that millions of people had not made a payment on $137 billion in federal student loans for at least nine months in 2016, a 14 percent increase in defaults from a year earlier. The consumer watchdog used the latest data from the Education Department, which manages $1.3 trillion in federal student debt owed by 42.4 million Americans. Continue reading

Trump administration rolls back protections for people in default on student loans

Trump administration rolls back protections for people in default on student loans

https://www.washingtonpost.com/news/grade-point/wp/2017/03/17/trump-administration-rolls-back-protections-for-people-in-default-on-student-loans/?tid=hybrid_collaborative_1_na&utm_term=.ecca40f7830d

By Danielle Douglas-Gabriel March 17

 

 

 

 

 

 

 

President Trump listens as Education Secretary Betsy DeVos speaks during a meeting with parents and teachers on Feb. 14 at the White House. (Evan Vucci/AP)

Days after a report on federal student loans revealed a double-digit rise in defaults, President Trump’s administration revoked federal guidance Thursday that barred student debt collectors from charging high fees on past-due loans. Continue reading

Laureate Education IPO Gets An ‘F’

Laureate Education IPO Gets An ‘F’
http://seekingalpha.com/article/4041128-laureate-education-ipo-gets-f?app=1&auth_param=160obu:1c91oa5:7dab9ddfa2ba4b6880e680bf2b0ee8b8&uprof=82&dr=1

Jan. 31, 2017 2:10 PM ET

Nicholas Durante

Summary

Laureate Education is set for an IPO which can raise them over $550 million.
The company faces high debt in a tough industry.
Suffocating debt combined with signs of declining revenue are reasons to skip this IPO.
I wrote an article back in October of 2015 about the Laureate Education (Pending:LAUR) IPO here. While I was bearish on the company when I wrote that article not much has changed. However, since the IPO is only a couple days away I thought I would take the time to reiterate my concerns.

They Are Leveraged Continue reading

Laureate Education is inching closer to its IPO

Technical.ly Baltimore

Laureate Education is inching closer to its IPO

A pair of SEC updates from the for-profit higher-ed company points to a new push toward going public.
http://technical.ly/baltimore/2017/01/19/laureate-ipo-filing/
By Stephen Babcock / REPORTER
More than a year after its first filing, Laureate Education appears set to move forward with its initial public offering (IPO).
The Harbor East-based for-profit higher-education company indicated in SEC filings in recent weeks that it is preparing to go public.

A December update to its SEC filing says the company will trade on the Nasdaq using the symbol LAUR. A second filing issued this week said it would offer 29 million shares priced between $17 and $20 per share. That would put the company’s raise at around $500 million.
Laureate, which owns for-profit universities in 25 countries, was a public company from 1993-2007. The announcement said this IPO is being offered in part to pay down its $4.2 billion in debt. Continue reading

Laureate Education launches FCPA probe into charitable donation

Compliance Week

Laureate Education launches FCPA probe into charitable donation

https://www.complianceweek.com/blogs/enforcement-action/laureate-education-launches-fcpa-probe-into-charitable-donation#.WJEQ0lOLTZ5

Jaclyn Jaeger| December 20, 2016

Laureate Education, a for-profit higher education institution, said that it is conducting an internal investigation into possible violations of the U.S. Foreign Corrupt Practices Act concerning an $18 million donation that one of its network institutions made in Turkey to a charitable foundation.

“We believed the donation was encouraged by the Turkish government to further a public project supported by the government and expected that it would enhance the position and ongoing operations of our institution in Turkey,” Laureate Education stated in a filing with the Securities and Exchange Commission.

Continue reading

Apax rachète les écoles françaises du groupe Laureate

Apax rachète les écoles françaises du groupe Laureate

Cécile Peltier  |  Publié le 20.04.2016 à 18H27

http://www.letudiant.fr/educpros/actualite/apax-rachete-les-ecoles-francaises-du-groupe-laureate.html

Le géant américain Laureate va céder ses écoles françaises au fonds d’investissement Apax Partners, déjà propriétaire de l’Inseec. Le montant de cette vente, qui fait émerger un nouveau mastodonte de l’enseignement supérieur privé, n’a pas été communiqué.

Les cinq écoles mises en vente par le groupe Laureate Education – EBS, ESCE, ECE, IFG et CEPC – vont passer sous pavillon français. Le leader mondial de l’enseignement supérieur privé a annoncé, le 19 avril 2016, la signature d’un accord de cession de sa filiale française à Apax Partners. Le fonds d’investissement français refuse pour l’instant de communiquer sur le montant de la transaction, qui doit être finalisée d’ici à la fin juin, après avoir reçu le feu vert de l’Autorité de la concurrence.

Continue reading

ITT Educational Services Files for Bankruptcy After Shutdown

ITT Educational Services Files for Bankruptcy After Shutdown
http://www.bloomberg.com/news/articles/2016-09-16/itt-educational-services-files-for-bankruptcy-after-shutdown-it6byu6t

Dawn McCarty  Shahien Nasiripour
September 16, 2016 Updated on September 17, 2016

ITT Educational Services Inc. began liquidation proceedings in an Indianapolis bankruptcy court Friday after closing 136 technical schools, leaving over 35,000 students stranded in one of the largest college shutdowns in U.S. history.

The 50-year-old for-profit college operator, which had campuses in 38 states, said it was forced to close its doors after the U.S. Education Department demanded a steep increase in the security the company would have to post to guarantee federal student aid. More than 8,000 employees were affected by the shutdown, with the majority losing their jobs, Carmel, Indiana-based ITT said. The company announced this week that it would cease all operations Friday. Continue reading