From a Bloomberg News article about the future of Graham Holdings, which is the new name of what had been the Washington Post Company after the Washington Post newspaper was sold to Jeff Bezos:
Increased regulation and industry probes have been bad for business in the U.S., and that hurts poor students, Donald Graham, chairman and chief executive officer, said at an investors conference in New York in December.
"Kaplan has cut way down in the last four years on the number of students we serve, from 119,000 at our peak to about 65,000 today," Graham said. "Most of the students we were serving are the nation's poorest and no one is serving them now."
And so a regulatory push conducted in the name of protecting poor students from excess student debt has wound up depriving them of an education. It's almost enough to make one suspect that the motive for the regulatory push wasn't protecting poor students at all, but rather achieving aggrandizing publicity for the politicians and regulators. prizes for the journalists who cheered them on, and profits for the investors short-selling the for-profit education companies.
