...why South University, based out of Savannah, Georgia, would take out a federally guaranteed $50M Main Street Loan from a bank in Martinsville, Virginia? And has anyone wondered why South University owed EPF $44M?
https://projects.propublica.org/nonprofits/organizations/815128459
And let's not forget about Studio Enterprise...
"But the arrangement with Studio Enterprise, a Los Angeles company that provides support services for creative-industry training programs, raises its own questions. Studio is personally funded by the principals of Colbeck Capital Management, a New York private equity firm that set up the nonprofit owner."
https://www.nytimes.com/2019/03/07/business/argosy-college-art-insititutes-south-university.html