Recently, public-interest news organization ProPublica, in partnership with public radio’s Marketplace, reported on allegations of fraud and deceptive enrollment tactics at the University of Phoenix, the nation’s largest for-profit educational institution. While the allegations are both saddening and disconcerting, they should come as no surprise. After all, the University of Phoenix’s parent company, Apollo Group, is a publicly-traded entity whose shares are listed on NASDAQ. As such, Apollo Group and its subsidiaries have one responsibility, and one alone: to increase shareholder value.
Continue reading Fraud At For-Profit Colleges Shouldn’t Surprise