Bill Clinton netted $1.6 million last year from a pair of for-profit education companies that caused controversy for the future president during Hillary Clinton’s time as secretary of state.
Laureate Education paid Bill Clinton nearly $1.1 million in 2015, according to tax returns released by his wife’s campaign Friday. GEMS Education, a Dubai-based firm, paid him more than $560,000.
Both companies are major donors to the Clinton Foundation.
Bill Clinton’s lucrative consulting contracts with the corporations have raised questions about how closely his personal fortune is linked to his philanthropic activities.
Not only are both companies donors to the Clinton Foundation, the CEO heads a company that got millions in State Department grants. Over the years, Bill was paid over $15 million to be the honorary chancellor of Laureate.
The moniker “for-profit” colleges is a bit misleading. The problem with “for-profit” colleges is not the profit. All colleges and universities are multi-million or multi-billion dollar operations that pay six figure salaries to their administrators. The President of “non-profit” Harvard, for example, pulled in a cool $900,000 last year. No, the problem is that some of these colleges bring in working and middle-class students, get them to take out massive amounts of federally-backed student loan debt and then give them a poor education. In their way, they are far worse and more insidious than Trump University. John Oliver talks about it here.
In fairness, none of the college singled out by Oliver are part of Laureate. But four of their six US campuses are being monitored by the Department of Education and one of their Chilean campus lost accreditation. Walden University is being sued by a group of people hoping to eventually make a class action. You can read more about the Laureate Scandal here
Don’t let Trump’s awfulness let us forget that the Clintons are pretty awful too. Even if we assume that everything Laureate is doing is peachy, this would still be a scandal for any Republican.