How A For-Profit College Created Fake Jobs To Get Taxpayer Money
Everest College’s $2,000-per-head “subsidy” program in Decatur, Ga., stands among an array of tactics used for years by the institution’s parent company, Corinthian Colleges Inc., to systematically pad its job placement rates, according to a review of contract documents and lawsuits and interviews with former employees. More than a marketing tool to lure new students, solid job placement rates allow the company to satisfy the accrediting bodies that oversee its nearly 100 U.S. campuses, while enabling Corinthian to tap federal student aid coffers — a source of funding that has reached nearly $10 billion over the last decade, comprising more than 80 percent of the company’s total revenue
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by Chris Kirkham, The Huffington Post.