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n fact, many of Laureate's numbers are not as bad as critics imply.
At Walden, for example, the U.S. Department of Education's "College Scorecard" website says the median annual income of graduates 10 years after getting their degree is $54,900. That's higher than for the University of Texas at Austin, one of the nation's top public universities, and $100 more than graduates of Rutgers University's flagship New Brunswick campus make.
Nor does Walden spend an unusual amount on marketing or top executive salaries. Laureate spent $290.8 million, or 6.6 percent of revenue, on marketing in 2014. At Harvard, administrators spent $721 million, about 16 percent of its $4.5 billion budget for 2014-15, on "institutional support," a non-instructional category that mostly pays for fundraising. Laureate competitor Apollo spent just under 20 percent of its revenue on sales and marketing during the fiscal year ending Aug. 31.
Becker earns shy of $1 million in salary — less than what Notre Dame pays head football coach Brian Kelly, and less than a number of college presidents who have topped $1 million a year. Becker's total compensation of $2.7 million is about a third of what the University of Alabama pays Nick Saban to coach its football team.
Rebekah Hall has had more than her fill of Laureate. After three years of online study at Walden University, the 34-year-old San Diego resident is quitting, even though she owes $75,000 for loans she took out for training she said the school promised would lead to a Ph.D. in forensic psychology, a claim Hall says was oversold.
Hall said she struggled to reach faculty members and advisors she didn't regularly meet in person. When she did hear back, it was often in the form of condescending criticism or documents running hundreds of pages long, she said.
Hall said she's jobless and sleeping on a friend's couch after losing her apartment and selling her car, motorcycle and most of her other possessions.
"This school's a joke," Hall said. "The degree wouldn't even be useful if I did end up getting it. At this rate, I would not be able to graduate, due to the debt, and I have no idea what to do."
Correction: One of Laureate's Chilean schools had a loss of accreditation last year. An earlier version misstated the school's situation.
originally posted by: IAMTAT
NBC is the National Clinton Cheerleader network. Most people realize they are extremely liberal. Liberals certainly do.
Your 'unbiased' source buries all relevant criticism of the University...at the very bottom of the piece.
However, it opens and titles with many paragraphs of positive spin and accolades for Laureate.
originally posted by: IAMTAT
Are you also suggesting NBC isn't left-leaning?
This isn't about me. Stick to the topic...or move along.
Laureate is focused on expanding affordable, career-creating higher education in emerging countries and often deals with governments in its work, Becker said. Having a stamp of approval from the IFC, which has "incredibly high standards" for its investments because it can only invest in companies that will help expand emerging economies, will help the company earn officials' trust, he said.
Laureate wants the countries where it operates to see its institutions as a mission-driven collective of serious educators, he said.
"They can't just see us as a business," Becker said. "We operate universities all over the world. As a result, there's a very strong social mission to what we do."
Laureate's institutions are geared toward occupational training, in fields such as education, medicine, art and design, and hospitality. Laureate has expanded primarily by acquiring existing schools.
For instance, Laureate operates the recently founded Higher Institute for Power and Water Technologies in Saudi Arabia with an industrial group. The institution was "launched by the government of Saudi Arabia to meet the increasing demand for Saudi nationals in the power and water industry," according to Laureate.
"What we're looking for is educational institutions that are relevant to the job market," Olive said. That makes working with Laureate a natural fit, he said.
originally posted by: IAMTAT
Again. Not about me.
Your thread derailing technique is pretty ham-fisted...but, then, this thread isn't about you, either.
Please stay on topic...or go buh-bye. Okie-Doke?
Laureate Education files IPO with $4.7 billion debt
When Baltimore-based Laureate Education filed for an initial public offering last week, it disclosed $4.7 billion in debt that has been cutting into the company's bottom line, with hundreds of millions in losses over the past several years.
The for-profit educational company was publicly traded until 2007, when its founder and a group of other investors took it private in a $3.8 billion buyout.
Since then, the company has grown its web of career-focused universities — mostly outside the United States — but some analysts said it was time for Laureate to slow down and address its significant debt.
"I would expect the company to focus on paying down debt right now," said Matt Kennedy, an analyst at Greenwich, Conn.-based Renaissance Capital, a manager of IPO-focused funds. "That's where the cash sweep is going to go."
But "even after the IPO it will be highly leveraged," he continued, "so that could be a concern for investors. You'll still see a significant portion of the company's net income being affected by interest payments."
The rapid expansion ballooned its debt from about $1.1 billion to $4.7 billion. In the first half of this year, its interest payments totaled nearly $200 million, and it posted a $171 million loss in that period on nearly $2.2 billion in revenue.It has lost money every year since 2010.
The losses can be attributed in part to the nearly $4.7 billion in debt the company carries related to its buyout and acquisitions. Last year it made almost $386 million in interest payments.
In 2000, Laureate Education purchased the Universidad del Valle de Mexico; it plans to open a new branch in Guadalajara. Laureate also owns Universidad Interamericana, a private university with campuses in Costa Rica and Panama, and part of three private universities in Chile.