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July 2, 2015

How did trade schools become diploma mills?

By ANNE FLAHERTY
Associated Press

WASHINGTON — How did trade schools go from being mom-and-pop shops that trained mechanics and hair stylists to making billions on Wall Street? And if the industry is as predatory as the Education Department and many lawmakers suggest, why didn't they stop it?

In 1990, there wasn't a single publicly traded college. Now, there are more than a dozen with most of them being investigated by state and federal regulators for fraud or deceptive business practices.


 
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