Washington Post Pays Kaplan CEO $76 million while students left $50,000 in Debt!

[KoKo]

Washington Post Pays Kaplan CEO $76 million while students left $50,000 in debt and Maryland Congressman, Elijah Cummings and Senator Durbin call for investigation into for-profit predatory college CEO pay
Written by Danny Weil Business, Education Dec 12, 2011

On December 12, 2011, Maryland Congressman Elijah Cummings sent letters to the CEO’s of 13 for-profit colleges requesting information on executive compensation packages to investigate “how the structure of your executive-compensation packages affects the performance of students educated with taxpayer funds.” Cummings is a member of the House Oversight and Government Reform Committee” (Chronicle of Higher Education, Key Congressman Begins Inquiry Into Executive Pay at For-Profit Colleges, December 12, 2011, Goldie Blumenstyk http://chronicle.com/article/Key-Congressman-Begins-Inquiry/130090/).

According to the Chronicle of Higher Education:

“In each individualized letter, Representative Cummings, from Maryland, noted the high proportion of revenues coming to the company via federal aid, the rate at which students default on their federal loans, and the share of operating expense the company puts to educational costs” (ibid).

Cummings may want to pay special attention to the golden parachute given to former Kaplan CEO Jonathan Grayer in 2008. The amount is so grossly laughable it can be considered criminal; unfortunately it’s not under our bought and paid for neo-liberal government.
http://dailycensored.com/2011/12/12/washington-post-pays-kaplan-ceo-76-million-while-students-left-50000-in-debt-and-senator-durbin-calls-for-investigation-into-for-profit-predatory-college-ceo-pay/

[Sinistrous]

1. And now we see why the Republicans want to ruin public education and

privatize it all.

The bastards.

[classysassy]

2. Cummings,Kaptur and Kuciniah

are three of least corrupt members,the other one are corrupt as the speaker.

[madfloridian]

3. Glad this was kicked. I missed it.

:hi: