Laureate gave Bill Clinton $16.5 million, also gave student loans to non-citizens
In view of the intense focus on the Trump University lawsuit by the MSM and lack of inquiry by the same MSM on Laureate Education, it seemed worthwhile to look at Laureate-affiliated schools of higher education located in the U.S., Latin America, and elsewhere. Bill Clinton served as honorary chancellor for Laureate from 2010 until 2015, and he was paid $16.5 million. (Clinton Cash author Peter Schweizer points out a connection between Laureate chairman Douglas Becker and increased USAID funding to a non-profit Becker also chaired, the International Youth Federation, while Hillary was secretary of state.)
Walden University is an affiliate of for-profit Laureate Education, and it has a history of problems.
An audit by the Department of Education (DOE) shows that online Walden University gave over $300,000 in student loans to non-citizens (which is against the law) from 2005 to 2008. More recently, Walden ran afoul of the handling of student loan funds for students who had withdrawn, and the DOE is now taking a closer look at Walden. Any adverse decisions by the DOE against Walden could seriously damage Walden’s funding model of relying heavily on student loans for revenue. Overall, Laureate’s U.S. institutions received $461 million in student loan revenue in calendar year 2014.
Walden University is also subject to a class action lawsuit according to SEC filings:
In January 2015, two students filed suit against us [Laureate] and Walden University, seeking class action status and alleging claims for breach of contract and unjust enrichment and violations of the Maryland and Illinois consumer protection laws and California unfair competition law related to the students' doctoral dissertation and master's thesis processes.
I don’t recall seeing any MSM outrage over this lawsuit.
Walden offers a masters degree in science education, and a review by the Education Department concludes that it does not measure up:
The program, while a noble attempt at a completely online Master's degree, falls short in the scientific and academic rigor one would expect at the Master's level.
This lack of rigor will likely be part of the lawsuit.
The Laureate schools are heavily regulated by the U.S. government, since they receive millions of dollars in student loan funds. They are also regulated by other countries in which Laureate does business. In this context, it makes sense for Laureate to put Bill on the payroll as “honorary chancellor” to give Laureate some credibility both in the U.S. and globally.