Thread regarding Education Management Corporation layoffs

EDMC is just running out the clock. For my school, accreditation won't run out till 2017. Why close up before they really have to? They're gonna squeeze all they can out of the system, then lock the doors all at once. That's my take on it.

Specifically where are people sending information to help former students with debt relief?

Guys, there are no incriminating emails being sent out anymore. It's not against the law to tell your employees that they are not hitting their numbers. These are for-profit schools and beholden to Wall Street where hitting your numbers is the name of the game. It is equally difficult to ‘get a school’ on having joke curricula or lax grading standards otherwise we would have several not-for-profit private and state schools shut down like yesterday. Grade inflation and academic rigor deflation are way too mushy to prosecute. The only way to really shut down a school is by nailing them for some kind fraud that is backed up by hard evidence. The school promises X to students but can’t deliver, booya, got ‘em. The school is financially in such deep trouble that they don’t have enough cash on hand to make payroll for the month, that is a huge concern, booya, got ‘em.

The strategy that the DOE seems to be taking is the following: Bad press = lowered stock prices = extreme difficulty for schools to raise capital. Once that death spiral starts, slap the school with a hefty fine, just a little above what they have for Cash on Hand and when they struggle to pay, demand a line of credit to cover the outstanding student loans because one is ‘concerned’. Buh-bye school. If you want to do a three pronged attack you kill the accreditor, raise the amount of bad press out there and then slap on the hefty fine with a concurrent change from HCM1 to HCM2. Game over.

Ya'll have nothing to lose. EDMC and its fake "schools" are going down. They won't make it past 2017. Not a shiny new logo nor a fresh coat of paint will rebound these debt traps. Ya'll soon find yourselves going through the arduous process of finding new jobs.

The stories are real. Hundreds of thousands of young financial lives have been ruined. People can't buy homes. Can't start families. Some wear out their welcome at friends or families house. Most are depressed. All due to your unscrupulous actions.

It's inevitable. EDMC will collapse. You will have to find other work. Now is your chance to redeem yourselves. Help some students gain relief and say something. Provide hard proof. Reverse the wrong you did. Put this out of its misery already.

Is true. I check this site everyday to see if is any useful information from insiders for

Students to submit it with the Defense

Of Repayment. All I find is gossip s....t . I dont know how people who works there

Can just do nothing about it, they dont understand that because people dont stand up this coorporations can get away with anything. Many students are so depressed about to commit suicide, mothers struggling to feed and house their kids and they are fu..ed because credit is f...ed because nobody can afford student loans from schools that use youtube as faculty. Do something!!

No one will do it. Everyone here is scared on brainwashed. I'd be surprised if EDMC actually goes down this year.

Most large corporations have gnarly corporate lawyers who dont care what is right and what is wrong, all they care about is shutting you up. ITT, UOP, Corinthean, its all the same thing. I have a box of documents spanning 14 years in for profit ed but don't want to get sued to death, threatened or harrassed by the snakes in suits or I'd gladly turn them over.

Keep blowing the whistle but I think the problem is money that was supposed to come in which isn't, and where's the money going to come from to keep the federal student lending system in tact? I could be wrong but I find it hard to believe the DOJ and DOE don't have enough evidence to shut down all the major for profits. BUT if you see something, say something. It can't hurt I guess.

SUO PGH

Which brand for the AM.

Patience, a certain AM is PGH is in the stages of one now.

@1fqc

This site is exactly what the their mission states: To whistle blow on the corrupt corporations and expose how their Ponze scheme on the unsuspected public is ruining lives!!!

Hysterical that Zombies are still working for the Vampires that are leeching of the Taxpayers which is all of us!

"help these students get their loans forgiven" that is really what this site is all about for many of the posters... Sad. "IamAi" needs a reality check.

Look how they protected whistle blower Snowden.

Cause those at the top are still s---ing on the taxpayers tit and haven't lined up the next scam to fleece their golden parachutes!

Teachers and students are the lowest bricks on the pyramid... think AMWAY when you think EDMC!

Why is EDMC dragging this thing out? There are barely any students left, barely any faculty, and barely any support staff. The schools are a bunch of big empties.

Any thoughts?