During this election, both Donald Trump and Hillary Clinton faced scandals related to for-profit colleges. Donald Trump faced two class action lawsuits in federal court regarding his “Trump University,” which offered classes in real estate, asset management, entrepreneurship, and wealth creation.
On the other end, the other Clinton (Bill) had been connected to the online Walden University, having taken $18 million for serving as their “honorary chancellor.”
Bill had traveled the world extolling the benefits of that university, which one study found has students with the largest debt loads of any school in America. This is important because the Clinton campaign largely got off scot-free for profiteering from the for-profit education industry, while blasting Trump for doing the same.
According to Reuters, the Trump University lawsuit is now behind us, reporting that U.S. President-elect Donald Trump has agreed to settle lawsuits relating to his Trump University series of real estate seminars for $25 million, a source familiar with the situation said on Friday. Claims brought by New York’s attorney general will represent roughly $4 million of that amount, the source said.
CNBC reports slightly different details, adding that the president-elect would agree to pay $20 million to $25 million to settle the complaint. Trump will not admit to any wrongdoing in the final agreement, the source said.
Like many of Trump’s ventures, it’s likely his involvement in Trump University was little more than putting his branding on it. He didn’t play a personal role in or have any knowledge of any fraud that occurred, hence the lack of admission of any wrongdoing.The same can’t be said about Bill Clinton.
[Note: This post was authored by Matt Palumbo. Follow him on Twitter @MattPalumbo12]