Now Anonymous sends this story:
Drake College of Business, a for-profit higher-education company based in New Jersey, suspended its recruiting of students from homeless shelters while accreditors scrutinize the practice.
Closely held Drake, which trains medical and dental assistants, relied on taxpayers for 87% of revenue in 2007 through federal financial aid programs. Almost 5% of the student body at its Newark, N.J., branch is homeless, said Jean Aoun, director of admissions and student services. In 2008, Drake began offering a $350 biweekly stipend to students who showed up for 80% of classes and got C's for their work, Bloomberg Businessweek reported last week.
Just as with the subprime house lending, easy credit in the education sector not only creates extreme price inflation, but also brings out the crooks and scammers.