Tags: Trump Administration | Hillary Clinton | bill clinton | for-profit college | 17.6 million | scrutiny

Wash. Post: Bill Clinton's $17.6 Million Deal With For-Profit College Under Scrutiny

Image: Wash. Post: Bill Clinton's $17.6 Million Deal With For-Profit College Under Scrutiny

 Bill Clinton (Sean Rayford/Getty Images)

Monday, 05 Sep 2016 09:52 PM

Former President Bill Clinton's lucrative deal to become a consultant and "honorary chancellor" at a for-profit college company while his wife Hillary Clinton was secretary of state is coming under scrutiny on and off the campaign trail.

The Washington Post reports the deal with Laureate International Universities shows how the former president "leveraged the couple’s connections during that time to enhance their personal wealth — potentially providing another avenue for supporters to gain access to the family."

The Post reports that in 2009 — nine months before Bill Clinton's sealed a $17.6 million, five-year deal with Laureate — Secretary of State Hillary Clinton suggested the inclusion of Doug Becker, the businessman who started the for-profit school, to be included on a guest list for a private State Department dinner on higher-education policy.

Laureate was to become the highest-paying client Bill Clinton took on after leaving the White House, the Post reports, citing the couple's financial documents — a career in consulting, writing and speaking that paid him $65.4 million during his wife's four years as secretary of state.

Aides to Clinton and representatives of Laureate defend the arrangement as one that advanced global access to education, the Post reports.

But the Post reports Laureate hired Clinton as scrutiny of private colleges was increasing in the United States and internationally, and that Laureate has clashed at times with regulators in other countries.

Bill Clinton also mingled with foreign government leaders during his appearances on Laureate campuses, though the former president's spokesman, Angel Urena, tells the Post he "never sought to influence any foreign or U.S. official on Laureate’s behalf."

Still, the Clintons’ Laureate connection emerged as a campaign issue earlier this summer, when Donald Trump charged Hillary Clinton "laundered money" to her husband by funneling tens of millions of dollars in federal grants to Laureate while she was secretary of state. 

The Post reports, however the Trump campaign didn't provide documentation to prove its charge.

The company says its campuses have received about $1.4 million total over the years in grants from the State Department and its international aid arm, USAID. Of that amount, only $15,000 came while Clinton was secretary of state — student scholarships funded by USAID, Laureate said.

Some Republicans also have tried to draw parallels between Laureate and Trump University, the real estate seminar company founded by Trump that faces multiple fraud investigations, the Post reports.

But Laureate’s campuses are fully accredited and offer graduating students valid diplomas.

Compared with other universities, including its for-profit competitors, Laureate has a relatively low percentage of students who default on their loans, seen as an indicator of student financial success after graduation.

The company has faced some complaints, however, the Post reports.

A group of students at Walden, a Minneapolis-based online school, sued Laureate in 2015, arguing the institution unnecessarily dragged out their education so they would have to pay more. Laureate denied the allegation, and the lawsuit was settled out of court, the Post reports.

As of July, three of Laureate’s five U.S. schools were included on a government list of 500 schools that receive additional financial oversight after being found out of compliance with the requirements of federal student aid programs, the Post reported.

© 2017 Newsmax. All rights reserved.

   
1Like our page
2Share
Newsfront
Former President Bill Clinton's lucrative deal to become a consultant and honorary chancellor at a for-profit college company while his wife Hillary Clinton was secretary of state is coming under scrutiny on and off the campaign trail.The Washington Post reports the deal...
bill clinton, for-profit college, 17.6 million, scrutiny
531
2016-52-05
Monday, 05 Sep 2016 09:52 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved