Reader Chiara sent the following comment about new funding by the U.S. Department of Education for for-profit ventures. Since when did ED become a source of venture capital for start-ups?
“Duncan’s cranking up the private sector subsidy funding on his way out the door:
“On Wednesday the department will announce a pilot program that will allow federal grants and loans to flow to educational-technology companies that team up with colleges and third-party “quality-assurance entities” to offer coding boot camps, MOOCs, short-term certificates, and other credentials.”
“Partnering with accredited schools to deliver tech skills for credit is a dangerous back door to access federal student loans,” wrote Clint Schmidt He called for the department to put “a rigorous standard in place” before federal aid could cover boot-camp tuition.
“The risk is a short-term, money-grabbing mind-set”
Nothing could possibly go wrong there, right? Public money to ed-tech companies. They’re doing this…. because…
View original post 89 more words