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For-profit universities get the Trump bump

San Diego–based Bridgepoint stock soars

On November 7, the day before the election, stock of San Diego's troubled Bridgepoint Education sold for $7.02. The company is under investigation by the Consumer Financial Protection Bureau, the Securities and Exchange Commission, and the states of Iowa, New York, Massachusetts, California, and North Carolina, according to the company's most recent report to the Securities and Exchange Commission. It has been investigated by the Department of Education over several issues, particularly its marketing and financial aid practices.

The United States Senate Health, Education, Labor and Pension Committee did a special study of Bridgepoint in 2011, and then-senator Tom Harkin called the operation "an absolute scam."

Enrollment has dropped sharply. Bridgepoint lost $16.25 million for the nine months ended September 30. The stock was once around $30, but plummeted as the troubles multiplied.

But less than a month after the election, today (December 5), Bridgepoint stock closed at $10.45, up 1.46 percent on the day and a long way up from the $7.02 of November 7. The stock — and that of other for-profit colleges — has been rising sharply since the election of Donald Trump on November 8. Wall Street figures that Trump will give regulatory relief to the for-profit colleges, despite their reputations for aggressive marketing, poor education, high student costs, and inability of students to get jobs after leaving.

Here are November 7 and today's closing prices for some other for-profit colleges: DeVry University $22.80-$29.95; Capella Education $75.80-$87.75; Lincoln Educational Services $1.71-$2.12; Grand Canyon Education $48.18-$57.90.

In mid-November, Trump agreed to pay $25 million to settle lawsuits against his Trump University, which supposedly gave instruction to those who wanted to make it big in real estate.

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On November 7, the day before the election, stock of San Diego's troubled Bridgepoint Education sold for $7.02. The company is under investigation by the Consumer Financial Protection Bureau, the Securities and Exchange Commission, and the states of Iowa, New York, Massachusetts, California, and North Carolina, according to the company's most recent report to the Securities and Exchange Commission. It has been investigated by the Department of Education over several issues, particularly its marketing and financial aid practices.

The United States Senate Health, Education, Labor and Pension Committee did a special study of Bridgepoint in 2011, and then-senator Tom Harkin called the operation "an absolute scam."

Enrollment has dropped sharply. Bridgepoint lost $16.25 million for the nine months ended September 30. The stock was once around $30, but plummeted as the troubles multiplied.

But less than a month after the election, today (December 5), Bridgepoint stock closed at $10.45, up 1.46 percent on the day and a long way up from the $7.02 of November 7. The stock — and that of other for-profit colleges — has been rising sharply since the election of Donald Trump on November 8. Wall Street figures that Trump will give regulatory relief to the for-profit colleges, despite their reputations for aggressive marketing, poor education, high student costs, and inability of students to get jobs after leaving.

Here are November 7 and today's closing prices for some other for-profit colleges: DeVry University $22.80-$29.95; Capella Education $75.80-$87.75; Lincoln Educational Services $1.71-$2.12; Grand Canyon Education $48.18-$57.90.

In mid-November, Trump agreed to pay $25 million to settle lawsuits against his Trump University, which supposedly gave instruction to those who wanted to make it big in real estate.

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Comments
30

All for profit so-called universities and colleges should be investigated. The word university and college are over used and applied to many schools that are nothing more than trade schools. While there is nothing wrong with a trade school they should not be using the term college or university. It is kind of like Joe's Bank or the First National Bar and Grill.

Dec. 6, 2016

or some of those online diplomas ( pay a fee and print it out)

want to bet a lot of public officials have those qualifications ?

Dec. 6, 2016

Divine Doctors.

Dec. 7, 2016

Flapper: Gilbert & Sullivan's pirates sang of a "doctor of divinity who is located in this vicinity." The pirates wanted to marry the major general's daughters. Is that what you mean? Best, Don Bauder

Dec. 7, 2016

Mail-order degrees.

Dec. 7, 2016

Flapper: Most of of these for-profit colleges are not as bad as the places that give out mail order doctorates (or whatever degree you want) for $5, or $20, or whatever they charge. Best, Don Bauder

Dec. 8, 2016

Correct. They are far worse.

Dec. 8, 2016

Flapper: What's worse is some people are impressed by these completely phony degrees. Best, Don Bauder

Dec. 8, 2016

Hey, man, whadimeen is the cats dat git 'em by mail, them is d wuns whut do d bullsheet to d defenceless. But the "Universities" are screwing all of us by suckin' up d tax munny y'no whadimeen?

Dec. 8, 2016

Flapper: Yes. For-profit universities steal your tax money. They get around 85 percent of their revenue from Pell and other government-sponsored grants. Best, Don Bauder

Dec. 13, 2016

AlexClarke: Some for-profit trade schools seem to be reputable. But by and large, I agree with you wholeheartedly: generally, for-profit colleges use despicable recruiting practices, spend little on education, charge students too much, and shackle them with a lousy degree that keeps them from getting jobs. Best, Don Bauder

Dec. 6, 2016

Murphyjunk: That would be an interesting study. However, I don't think for-profit colleges in the main seduce politicians who have graduated from them. The for-profits spend massive amounts on lobbying, and the pols rake it in and block reform legislation attempts. Best, Don Bauder

Dec. 6, 2016

Electing a CON MAN & A FRAUDSTER President of the USA is a very sorry turn of events for the US. Not since Nixon, has such corruption and conflicts of interest been so open and brazen.
I expect Trump to plunge the US into a major Recession and then Start a War to create a smokescreen to try to cover his incompetence..

Dec. 7, 2016

SportsFan0000: It is very obvious that Trump knows little about either domestic or foreign affairs. That was obvious in the campaign. Thus far, it appears he has little interest in learning about his job. He has missed security briefings. He expects to spend a great deal of time at Trump Tower, not the White House. Presidents should be surrounded by the experts in his or her cabinet, plus other advisors. How could Trump be surrounded by them if he is in New York, not Washington?

In any case, some of the people he has appointed generally have little knowledge of what they are overseeing. This is all pretty scary. We face the possibility of having endless snap decisions by someone with little knowledge. Best, Don Bauder

Dec. 7, 2016

Makes Nix look like a choir boy.

Dec. 7, 2016

Flapper: Whatever you say about Nixon, he knew domestic and foreign policy -- disturbed and corrupt as he was. Best, Don Bauder

Dec. 7, 2016

With a name like Trump U., what is it that its victims don't get?

0000 has hit the nail on the head. Unfortunately an un-honored profit--I mean prophet.

Dec. 7, 2016

Flapper: I don't know of any prophets at Bridgepoint and profits are just as scarce now. Best, Don Bauder

Dec. 7, 2016

Now hear this! People who read and write blogs like this are a tiny minority. We have just seen a grand demonstration of the blindness to lies that constitute a large segment (not even half, so we should be thankful?) of the voting population.

Dec. 7, 2016

Flapper: Yes, for a president-elect who lost the popular vote by 2.6 million, he is certainly making radical changes. I get queasy every time he names some completely uninformed person to his cabinet. Best, Don Bauder

Dec. 7, 2016

I got an idea for a TV show called "The Trumpsters." There's this big cognitively dissonant orange guy who twits rather than talks, and the Village Idiot is the thump behind the Trump, who has these number ten chicks (nothing less will do) that reassure him that he can, in fact get it up--I mean, is up to it, and a ten-year-old clone because he really can't. Of course, they have little access doors in their backs for maintenance of the electronics.

Don't all you producers fall all over each other trying to get the rights . . .

Dec. 7, 2016

Flapper: I am not qualified to be a producer, but if I am recruited to be an investor, I will turn it down. Best, Don Bauder

Dec. 8, 2016

Well, back to the drawling board I guess.

Dec. 8, 2016

Flapper: How well known are you in Hollywood? Best, Don Bauder

Dec. 8, 2016

Mos' uv 'em is daid.

Dec. 8, 2016

Flapper: The Hollywood promoters are just as alive and just as crooked as they always have been. Best, Don Bauder

Dec. 9, 2016

What are you worrying about? The 1% are taking [care of] everything.

Dec. 8, 2016

shirleyberan: It's called trickle-down economics. It has never worked, and won't. It looks like Trump will institute another round of it. The economic strategy he talked of during the campaign was trickle-down all the way. One of his cabinet appointments denies it. That means it is still in the plans. Best, Don Bauder

Dec. 8, 2016

Pass (on) the Bubble-Up!

Lower taxes on the rich = a 'nother millisecond older and deeper in debt--which the serfs will have to pay off.

To whom, I say, will the Corps sell trinkets when the Golden Goosed are ded?

Dec. 9, 2016

Flapper: Good analogy. Trump will certainly try for more trickle-down economics. He will probably get it, since his party controls both houses of Congress. Best, Don Bauder

Dec. 13, 2016

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