Student protections being rolled back

  1. PBS reports this evening (and I've heard murmurings about this in other sources that this was coming) that Betsy DeVos is rolling back a number of the restrictions on for-profit colleges and student protections put in place by the Obama administration. The report also mentions that she has hired a number of for-profit college executives to be advisors in her department, and has put the CEO of a private student loan company in charge of Federal student aid.

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  2. 7 Comments

  3. by   toomuchbaloney
    I believe that this is also an income stream for herself or her family.
  4. by   Lil Nel
    Yes, I've been reading about this for several weeks in the NYTimes. It is nothing short of disgusting.
  5. by   heron
    This whole administration is the definition of regulatory capture ... it's gonna get worse.
  6. by   elkpark
    And then there's this -- each time I think things can't get any worse with this administration ...

    Betsy DeVos Will Meet With Men's Rights Activists Tomorrow About Sexual Assault | HuffPost
  7. by   toomuchbaloney
    I don't understand what she could possibly be thinking.
  8. by   elkpark
    Quote from toomuchbaloney
    I believe that this is also an income stream for herself or her family.
    Yes.

    Overall, DeVos’ paperwork showcases an extensive web of investments, several of which raise eyebrows. She has investments in companies that hound students to pay their federal loan debts, as well as in psychiatric hospitals under federal investigation for Medicare fraud. She also has more than $1 million in an undisclosed venture related to education. And although her filings do not show any direct ownership stake in a private for-profit college, she has chosen to put some of her money into firms that are invested in that industry.

    Unfortunately, senators could not ask DeVos any questions about what is in the OGE paperwork during her confirmation hearing last week. In an unprecedented move that applied to no other Trump nominee, DeVos’ hearing went forward before the paperwork was finished.


    Inside the Financial Holdings of Billionaire Betsy DeVos - Center for American Progress

    The convoluted web of her fortune, an ethics review found, creates ample opportunities for conflicts of interest. There are obvious ones, like KinderCare Education, the country's largest private early childhood education provider, in which she invested more than $500,000. Then there are trusts that have interests in the for-profit college company Sextant Education and education curriculum-maker Discovery Communications ...

    ... The New York Times reported Monday that DeVos was keeping her $5 million to $25 million stake in a biotech company called Neurocore, which claims to help students with ADHD, autism, and other cognitive issues perform better in school thanks to a network of "brain performance centers."

    DeVos and her husband have been intimately involved with the company, and stepped down from the organization's board in the wake of her nomination.


    http://www.cnbc.com/2017/01/26/for-a...-finances.html
  9. by   Lil Nel
    Oh, according to this, DeVos has interests in UHS, my former employer. They own the largest number of psychiatric facilities (for profit) in the US. And they are under investigation for many things, including patient deaths. I didn't know she had a connection to UHS. Not surprising, since they are pretty shady.

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