Education Department Investigating College Admissions Scandal

Education Department

The United States Department of Education has launched an investigation into eight universities, following the recent college admissions bribery scandal discovered by the FBI. The Department informed the universities on Monday that a probe was underway. The universities are some of the most prestigious in the United States.

America’s Top Universities Caught up in Scandal

The Education Department informed Wake Forest University, the University of Southern California, the University of California Los Angeles, the University of Sand Diego, the University of Texas at Austin, Georgetown University, Stanford University, and Yale, that they are now part of an ongoing investigation.

Depending on findings, these universities could lose access to federal funds. In a letter that Education Secretary Betsy DeVos authorized for each university, it was stated that “The allegations made, and evidence cited by the Department of Justice raise questions about whether your institution is fully meeting its obligations.”

The probe comes after the FBI accused celebrities and wealthy parents of being involved in a bribery and cheating scheme to ensure college admissions for their children. According to the FBI, the scheme involved bribing college administrators and coaches. Up to $25 million of payments were made over a period of seven years, with dozens of parents now implicated in the scandal.

Parents also paid a test prep business to facilitate cheating on college entrance examinations, including SAT and ACT standardized tests.

Parents will face charges of bribery, while coaches and administration officials will face racketeering charges. Some of the accused have appeared in a federal court in Boston this week. More appearances are expected to be held on Friday.

Demands from the Department of Education

Universities have been asked to hand over several key documents, including promotional materials and statements used for school rankings. Universities have also been asked to provide internal control policies and procedures used for admissions, especially regarding athletic recruits. Schools will also need to inform the Department of all students whose admissions were connected to the FBI investigation.

Penalties for any universities found to have violated federal education regulations could include the withdraw of access to federal student loans. Pell Grant subsidies could also be withheld from the listed universities, which could send potential students to competitors.

The investigation could last for months as the Department ascertains how deeply the universities were involved in the cheating and bribery scandal.

 

The reports, research and newsletter are based on current and historical market data, as well as publicly available financial data.They are intended to be a starting point for investors. They do not provide every material fact about a company or industry, nor are they recommendations to buy or sell. The writers and the company make no warranties or representations as to the accuracy of these reports.   You should NOT rely solely upon the information or opinions read in the content. Rather, you should use the content as a starting point for doing independent research on the independent analysis and trading methods in the content. The content is impersonal and does not provide individualized advice or recommendations for any specific reader or individual portfolio. By accessing this website you have agreed to our disclaimers and privacy policy.

 

 

The reports, research and newsletter are based on current and historical market data, as well as publicly available financial data.They are intended to be a starting point for investors. They do not provide every material fact about a company or industry, nor are they recommendations to buy or sell. The writers and the company make no warranties or representations as to the accuracy of these reports.   You should NOT rely solely upon the information or opinions read in the content. Rather, you should use the content as a starting point for doing independent research on the independent analysis and trading methods in the content. The content is impersonal and does not provide individualized advice or recommendations for any specific reader or individual portfolio. By accessing this website you have agreed to our disclaimers and privacy policy.

 

You May Also Like