"As poor student outcomes and predatory recruiting practices at for-profit colleges have come to light, some have sought to restore their reputations and dodge possible loss of federal student aid by converting to a nonprofit control structure. In March, the Education Management Corporation (EDMC), the struggling for-profit owner of several colleges—including several Art institute campuses—announced plans to sell most of its colleges to the Dream Center Foundation, a Los Angeles nonprofit organization with no experience running colleges. In the letter below, thirty organizations representing students, consumers, veterans, and servicemembers raise questions about whether allowing continued taxpayer funding of the colleges under the new owner is in the public interest, given some of the unusual details of the sale."
https://tcf.org/content/commentary/joint-letter-questions-new-ownership-predatory-colleges/