If ED was doing its job, EDMC would be shuttered. KKR squeezing out every drop.

If you just look at the financial numbers, EDMC should have been shut down two years before ITT Tech.

EDMC has been underwater for 2 1/2 years (more liabilities than assets). The only things keeping this structure standing financially are ED with Title IV funds, and KKR, which is trying to sell everything they can before the roof caves in.

There are still government fines and lease payments to be made--and I doubt that current revenues can cover that.

There's no way of knowing that though, because EDMC doesn't report the numbers because it doesn't have real shareholders to report to.

Why doesn't KKR just finish this off ASAP? How can they be taking enough assets to make this worth it?

https://www.linkedin.com/pulse/edmc-keeps-art-institutes-students-staff-dark-dahn-shaulis?trk=mp-author-card

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@JYx53eL-4olp, yes the accreditors are another layer of corruption.

https://www.thelayoff.com/acics

As are the debt servicers, such as Navient and ECMC (which also owns Everest Colleges)

https://www.thelayoff.com/navient

https://www.thelayoff.com/ecmc

Do you have any specific organizations in mind?

Camden you righteous s o b, you should be taking on the accrediting agencies too and their political backers .. the swamp is deep....

Don't forget that ITT closed down after ED cut off title IV funding. If not for that, they'd still be around.

The for profits to watch now are the ACICS schools. They won't be able to get regional accreditation because they are so below standard (they make EDMC look like Harvard). The worst I know of is Concorde Career College- it's much worse than even Kaplan.

My guess is a combo of KKR money and title iV

@JYx53eL-kjj, so who pays the bills in the meantime? Who is paying the bills now, and with what money?

Great question. KKR must think this will benefit them somehow. My guess is they think they can sell off individual campuses.

Thread regarding Education Management Corporation layoffs

If ED was doing its job, EDMC would be shuttered. KKR squeezing out every drop.

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