Washington Post's Kaplan Being Investigated By Illinois AG
March 02 2011 - 5:42PM
Dow Jones News
Washington Post Co.'s (WPO) Kaplan Higher Education is being
investigated by the Illinois Attorney General, adding to a growing
list of for-profit colleges being scrutinized at the state
level.
According to a securities filing Wednesday, the company received
a Civil Investigative Demand from the state on Feb. 7. Post Co.
said the demand "primarily" seeks information on Illinois residents
who attend Kaplan University's online program. The company said it
is reviewing the demand and intends to cooperate, but cannot yet
predict the outcome of the inquiry.
A Kaplan representative declined further comment.
Kaplan also was named in an investigation by Florida's Attorney
General in October. That probe sought information from six
for-profit schools--five publicly traded--on potential
misrepresentations in financial aid, recruitment and other
areas.
Washington Post said in the securities filing that Kaplan has
been in discussions with that state regarding the subpoena and
determining a "reasonable time frame" by which it must hand over
information.
Meanwhile, Bridgepoint Education Inc. (BPI) said in a securities
filing last month that the Iowa Attorney General is looking into
its Ashford University, and in December, the Kentucky attorney
general launched a probe into six unnamed for-profit schools in
that state.
-By Melissa Korn, Dow Jones Newswires; 212-416-2271;
melissa.korn@dowjones.com
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