$7.6 million Main Street loan payment in 2023 and 2024
$36 million payment in 2025...
https://projects.propublica.org/nonprofits/display_audit/24951020211
https://www.highereducationinquirer.org/2021/12/the-colbeck-scandal.html
2 replies (most recent on top)
"The Colbeck Capital Management scandal involving South University and the Federal Reserve Bank of Boston is still one of the most popularly viewed articles from the Higher Education Inquirer, and the second most viewed all time."
https://www.linkedin.com/posts/dahn-shaulis_the-colbeck-scandal-activity-6989518740161765376-Yjhh?utm_source=share&utm_medium=member_desktop
South University did make a $5 million profit last year, by cutting worker compensation by $7 million. And they're still underwater. $83 million in assets and $93 million in liabilities. $25 million of the assets are student accounts receivables.
https://projects.propublica.org/nonprofits/display_audit/24951020211
https://projects.propublica.org/nonprofits/display_audit/24951020201