Chalk it up as another example of public information being ignored by the mainstream press, but this one is beyond the pale. While much of America recognizes the Kaplan brand as a company involved in higher education, few know that they operate as part of The Washington Post Company. Fewer might know that 58 percent of The Post’s value is attributed to the Kaplan subsidiary. But that’s only the tip of the iceberg that has been ignored by the press.
Accuracy in Media’s Center for Investigative Journalism released a study detailing exactly how low CEO Donald Graham and The Post will go to keep their doors open.
Some fun facts uncovered in the research:
- Kaplan University has a consistent dropout rate of 70 percent. If you’re one of the lucky ones who walk the stage, odds are you’ll earn less than the national average for college graduates.
- The Post’s lobbyists do not like that their income received from federal student loan programs are capped at 90 percent. Post CEO Don Graham has openly threatened Congress that he’ll jack up tuition until the cap is removed.
- Are you a veteran? Kaplan University wants you to enroll today. Your GI Bill and Department of Defense tuition funds are exempt from federal assistance caps.
- Kaplan recruiters are trained to seek out students near the poverty line and are encouraged to use “true pain and fear” tactics to sign up.
- The Graham family isn’t clean in this either. Before severe drops to The Washington Post Co. stock price, they sold$40 million worth of shares.
It really isn’t surprising that The Post wouldn’t come clean on this, given its dependence on the Kaplan cash cow. While some news outlets have discussed various aspects to this case, a complete picture has not been shown until now. In order to truly fight back against the corrupt mainstream press, you must understand how its business and finances work.
Read the full report here.