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Punished Profiteers Qualify for Stimulus Funds

April 9, 2020

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As reported in this Market Watch blog post, at least 23 previously punished for profit schools will be receiving millions from the 2+ trillion dollar CARES act designed to keep small businesses and institutions afloat. This article offers an even-handed description of the issue, noting that for profit schools led the way in virtual learning and also noting that the previous stimulus plan had provisions that effectively launched many of the schools that ultimately became “bad actors” by helping unqualified students secure loans for programs that could not provide the results promised by the college.

This just in: hastily crafted bills with no oversight provisions will yield bad results. It’s no surprise that these kinds of glitches occur when legislators act quickly. Indeed, I would not be surprised to learn that the section of CARES dealing with the allocation of funds for colleges and universities was written by the lobbyists for the profiteers.

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