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| <ref>http://dailycaller.com/2014/01/13/why-are-the-clintons-hawking-a-seedy-soros-backed-for-profit-college-corporation/</ref> | <ref>http://dailycaller.com/2014/01/13/why-are-the-clintons-hawking-a-seedy-soros-backed-for-profit-college-corporation/</ref> | ||
| ==Finances== | ==Finances and Politics== | ||
| According to the Washington Post "Laureate is backed by several of the biggest names in finance, including ], ], ] and ]." <ref>http://www.washingtonpost.com/business/laureate-a-for-profit-education-firm-finds-international-success-with-a-clintons-help/2014/01/16/13f8adde-7ca6-11e3-9556-4a4bf7bcbd84_story.html</ref> | According to the Washington Post "Laureate is backed by several of the biggest names in finance, including ], ], ] and ]." <ref>http://www.washingtonpost.com/business/laureate-a-for-profit-education-firm-finds-international-success-with-a-clintons-help/2014/01/16/13f8adde-7ca6-11e3-9556-4a4bf7bcbd84_story.html</ref> | ||
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| Approximately 78 percent of Laureate's US domestic revenues are derived from federal funds, which includes ], federal ], and ] funds. <ref>http://www.help.senate.gov/imo/media/for_profit_report/PartII/Walden.pdf</ref> | Approximately 78 percent of Laureate's US domestic revenues are derived from federal funds, which includes ], federal ], and ] funds. <ref>http://www.help.senate.gov/imo/media/for_profit_report/PartII/Walden.pdf</ref> | ||
| Laureate spent approximately $600,000 for US lobbyists in 2013 and 2014 combined. <ref>https://www.opensecrets.org/orgs/lobby.php?id=D000052940</ref> US Democrats in Congress have been the most likely recipients of Laureate money. <ref><https://www.opensecrets.org/orgs/toprecips.php?id=D000052940&cycle=2014/ref>Four of the five current lobbyists have worked in the US government <ref>http://www.opensecrets.org/lobby/clientlbs.php?id=D000052940</ref> | |||
| ==Faculty== | ==Faculty== | ||
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Laureate Education, Inc. is a private for-profit higher education company headquartered in Baltimore, Maryland. Laureate is the US largest for-profit education corporation by enrollment, with more than 950,000 students worldwide. Its US subsidiary is Walden University It has schools in North America, Europe, Latin America, the Middle East, Asia, and Africa.
History
The company was founded by Douglas L. Becker. The company was originally created by Sylvan Learning Systems in 1998 as an operational division to focus on post-secondary institutions and called Sylvan International Universities. When the division was created, Sylvan was a public company primarily focused on educational services for students in primary and secondary education through company owned and franchise locations.
The company’s first investment was Spain’s Universidad Europea de Madrid in 1999, quickly followed by investments in post-secondary institutions in Mexico's Universidad del Valle de México, Chile's Universidad de las Américas and Switzerland's Les Roches International School of Hotel Management and its first investment in online higher education, Walden University in the United States.
In March 2003, Sylvan Learning Systems decided to focus exclusively on post-secondary education. The company sold the K-12 business units, as well as the Sylvan name and trademark, to a new company, Educate, Inc., formed by Apollo Management. In 2004, Sylvan changed its name to Laureate Education, Inc, to reflect the change in focus.
In 2007, the company was acquired by an investor group led by Douglas Becker.
In January 2013, the International Finance Corporation, a member of the World Bank Group, made a $150 million equity investment in Laureate to expand access to quality higher education in emerging markets.
Coursera, a provider of massive online open courses, announced in July 2013 that it raised $43 million in investments from a group that included Laureate Education, Inc., the World Bank’s investment arm, LearnCapital Venture Partners, GSV Capital and venture capitalist Yuri Milner.
Arizona-based Thunderbird School of Global Management announced a partnership with Laureate in March 2013 to set up a joint venture that will provide capital support to Thunderbird to open multiple international instruction sites and expand its executive education and online programs.
In December 2013, Laureate announced that its shareholders elected three independent directors: Robert B. Zoellick, former World Bank president; Judith Rodin, president of the Rockefeller Foundation; and George Muñoz, principal of the Muñoz Investment Banking Group.
Bill Clinton has been an honorary chancellor and supporter of Laureate.
Finances and Politics
According to the Washington Post "Laureate is backed by several of the biggest names in finance, including Henry Kravis, George Soros, Steve Cohen and Paul Allen."
Laureate’s annual revenue is approximately $4 billion. The company holds $3.5 billion in debt.
Approximately 78 percent of Laureate's US domestic revenues are derived from federal funds, which includes Pell Grants, federal student loans, and GI bill funds.
Laureate spent approximately $600,000 for US lobbyists in 2013 and 2014 combined. US Democrats in Congress have been the most likely recipients of Laureate money. Cite error: A <ref> tag is missing the closing </ref> (see the help page).
Faculty
Laureate Education is highly dependent on adjunct faculty and contingent labor. For example, more than 90 percent of Walden’s faculty is employed on a part-time basis.
Advertising and Marketing
Laureate spends in excess of $200 million per year on advertising, including television commercials, online campaigns and billboards.
Institutions and Operations
See Laureate International Universities
Investigations, Lawsuits, and Controversies
Laureate has schools in Turkey and Chile, even though for-profit schools are banned.
In Brazil, the Rio State Legislature’s Investigative Commission on Private Universities issued a report criticizing for-profit colleges like Laureate for firing professors.
References
- http://www.laureate.net/AboutLaureate
- http://www.laureate.net/OurNetwork
- Honan, William H. (20 January 1999). "Sylvan Plans Overseas College Network". The New York Times.
- http://findarticles.com/p/articles/mi_m0EIN/is_2000_Dec_7/ai_67687292/.
{{cite news}}: Missing or empty|title=(help) - Walsh, Mark (19 March 2003). "Sylvan Learning, Changing Focus, Sells K-12 Sector". Education Week. Retrieved 22 October 2013.
- "Sylvan Learning Renamed". New York Times. 18 May 2004. Retrieved 22 October 2013.
- "Management Group to Take Laureate Education Private". The New York Times. 29 January 2007.
- Redden, Elizabeth (2014-03-03). "World Bank affiliate invests $150 million in for-profit college provider". Inside Higher Ed. Retrieved 2014-03-07.
- Kilar, Steve (2013-01-23). "World Bank invests in Baltimore-based Laureate Education". Baltimore Sun. Retrieved 2014-03-07.
- Melissa Korn (2013-07-10). "Online Education Startup Coursera Raises $43 Million - Digits". Blogs.wsj.com. Retrieved 2014-03-07.
- http://www.ft.com/intl/cms/s/2/9fabac92-8fe3-11e2-ae9e-00144feabdc0.html?ftcamp=published_links%2Frss%2Fbusiness-education%2Ffeed%2F%2Fproduct#axzz2OqAZY3yY
- http://belfercenter.ksg.harvard.edu/experts/295/robert_b_zoellick.html.
{{cite web}}: Missing or empty|title=(help) - http://www.rockefellerfoundation.org/about-us/our-team/judith-rodin-phd.
{{cite web}}: Missing or empty|title=(help) - http://www.marketwatch.com/investing/stock/mar/insiders?pid=31156.
{{cite web}}: Missing or empty|title=(help) - http://articles.baltimoresun.com/2010-04-26/business/bs-bz-laureate-bill-clinton-20100426_1_laureate-education-laureate-international-universities-higher-education
- http://www.bloomberg.com/news/articles/2014-01-06/clinton-pitches-kkr-backed-college-chain-amid-controversy
- http://dailycaller.com/2014/01/13/why-are-the-clintons-hawking-a-seedy-soros-backed-for-profit-college-corporation/
- http://www.washingtonpost.com/business/laureate-a-for-profit-education-firm-finds-international-success-with-a-clintons-help/2014/01/16/13f8adde-7ca6-11e3-9556-4a4bf7bcbd84_story.html
- http://www.washingtonpost.com/business/laureate-a-for-profit-education-firm-finds-international-success-with-a-clintons-help/2014/01/16/13f8adde-7ca6-11e3-9556-4a4bf7bcbd84_story.html
- https://www.insidehighered.com/news/2013/10/10/laureates-growing-global-network-institutions
- http://www.help.senate.gov/imo/media/for_profit_report/PartII/Walden.pdf
- https://www.opensecrets.org/orgs/lobby.php?id=D000052940
- http://dailycaller.com/2014/01/13/why-are-the-clintons-hawking-a-seedy-soros-backed-for-profit-college-corporation/2/
- http://www.washingtonpost.com/business/laureate-a-for-profit-education-firm-finds-international-success-with-a-clintons-help/2014/01/16/13f8adde-7ca6-11e3-9556-4a4bf7bcbd84_story.html
- http://www.washingtonpost.com/business/laureate-a-for-profit-education-firm-finds-international-success-with-a-clintons-help/2014/01/16/13f8adde-7ca6-11e3-9556-4a4bf7bcbd84_story.html
- http://www.washingtonpost.com/business/laureate-a-for-profit-education-firm-finds-international-success-with-a-clintons-help/2014/01/16/13f8adde-7ca6-11e3-9556-4a4bf7bcbd84_story.html
External links
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See Also
Higher education in the United States
Categories: