Guild (Education) No Longer Glitters: Layoffs, Toxic Work Environment, Questionable Acquisition

Here's our latest analysis of Guild (formerly Guild Education) based on a limited amount of publicly available data. Guild is a third-party provider of adult education, connecting big corporations like Walmart, JP Morgan, Tesla, and Disney with online schools like Purdue University Global (Purdue University's robocollege) and e-Cornell (Cornell's online school). 

For years, Guild Education received a substantial amount of positive press, which put them on our radar in 2021. We and others in the education world were wary of all the hype. Forbes was a big contributor to Guild's rise, along with its supporters: Silicon Valley Bank, ASU+GSV, Steph Curry, Oprah,  Johny C. Taylor Jr., Michael Horn, and Kenneth Chenault. And Guild had political ties with Mae Podesta, a daughter of Democratic Party powerbroker John Podesta.

In 2023, Guild was again on the radar as the edtech meltdown was occurring and investor money was drying up, especially in Silicon Valley. In September of 2024, Disney cut back on its Guild-managed education program.

Since Guild is a private, for-profit company, this limits our ability to fully assess the company, including its value. It appears Guild has not received a capital infusion since the summer of 2022, and there is no indication that it has ever been profitable. Valuations.fyi reports that Guild's value has dropped from a peak of $4.4B in 2022 to $1.3B in 2024.

The last two years Guild has suffered significant layoffs, and its charismatic CEO Rachel Romer, who suffered a stroke, was replaced by a less popular Bijal Shah (who only has a 37 percent favorability rating on Glassdoor). The edtech company has gone through major transitions, including a rebranding, while downsizing its core business. In early 2024, Guild announced that it was offering AI training. More recently, it has acquired Nomadic Learning, a platform for educating corporate leadership.

Glassdoor reviews have provided more information that are summarized here:

1. Toxic Work Environment/Hostile leadership: The behavior of senior leadership, particularly the CMO, is described as hostile, manipulative, and discriminatory. 

Lack of empathy: A lack of empathy from leadership towards employees is a recurring theme.

Discrimination: Instances of discrimination, both overt and subtle, are alleged, especially against women and employees of color.
 

2. Unfair Treatment and Inequity/Favoritism: Friends of leadership seem to be favored, regardless of merit or performance.

Unequal treatment: Women and employees of color appear to be disproportionately affected by negative actions, such as layoffs and discrimination.

Limited opportunities for advancement: The focus on "allies" in ERG spaces may limit opportunities for marginalized employees.
 

3. Erosion of Employee Benefits/Reduced holiday time: The removal of holiday time off and restrictions on PTO use have negatively impacted employees' ability to balance work and personal life.

Decreased support for employees: The company's focus on reducing costs has led to a decline in benefits and support for employees.
 

4. Misalignment with Mission/Prioritizing profits over people: The company's actions seem to prioritize financial gain over its stated mission of unlocking opportunity.

Disregard for employee needs: The company's failure to address the needs of its employees, particularly women and caregivers, contradicts its mission.
 

5. Loss of Talent/High turnover: The toxic work environment and declining benefits are likely contributing to a high turnover rate among talented employees.

Loss of marketing talent: The company's reputation is suffering due to the loss of its best marketing talent.

These issues raise serious concerns about Guild Education's culture, leadership, and commitment to its employees and mission. Addressing these problems will be crucial for the company's long-term success.

Why Acquire Nomadic Learning?

There could be several reasons why a company with a toxic work environment and declining employee morale would continue to acquire other businesses:

Diversification: Acquisitions can be seen as a way to diversify the company's revenue streams and reduce its reliance on a single product or service.

Market expansion: Acquiring other companies can help a company expand into new markets or geographic regions.

Synergies: The acquisition of complementary businesses can create synergies that lead to cost savings or increased revenue.

Talent acquisition: Acquisitions can be a way to acquire talented employees or intellectual property.

Short-term financial gains: Acquisitions can sometimes provide short-term financial gains, such as increased revenue or stock price appreciation.

However, it's important to note that these reasons may not be sufficient to justify the acquisition of other businesses if the company's internal problems are not addressed. A toxic work environment and declining employee morale can negatively impact a company's ability to retain talent, attract customers, and innovate.

It's possible that the company's leadership believes that acquisitions can help to mask or distract from the underlying problems. However, this is a short-term solution that is unlikely to be sustainable in the long run.

To truly improve its situation, Guild Education will need to address the root causes of its problems, including the toxic work environment, declining employee morale, and misalignment with its mission.

2U Declares Chapter 11 Bankruptcy. Will Anyone Else Name All The Elite Universities That Were Complicit?

2U declared Chapter 11 bankruptcy today and the company is now valued at less than $5M. That's a small shadow of the $5.4B perceived value it had in mid-2018.

As a company that will be owned and operated by vulture capitalists (VCs), 2U (TWOU) and its subsidiary edX will fall below the radar. But that won't stop the company from ensnaring more students for overpriced "elite" and "brand name" degrees and certificates--as it tries to survive. In fact, it might make it easier. The visible economic market and its media won't care anymore. 

According to Higher Education Dive, backers of the latest scheme include three vulture capital firms: Mudrick Capital Management (Madison Avenue in NYC), Greenvale Capital (London) and Bayside Capital (Miami/London). 

Somehow, these VC firms will try to extract value from the bankruptcy deal. But how they do that is a mystery. C-suite executives have already gotten some of their bonuses, leaving little else for workers. Reducing labor costs (firing people) will be essential. Not paying their bills is another. Continuing to deceive consumers would be difficult to change. Even after the deal, 2U will still be laden with more than $400M in debt.

Since 2019, we have tried to expose 2U and its business practices, as well as the role of elite university partners in enabling the sale of advanced degrees and edtech certificates that led to few good jobs and lots of consumer debt.  When they acquired edX from Harvard and MIT for $800M, we doubled down.

The Higher Education Inquirer has been the only outlet to name the elite schools that were complicit in this scheme that took money away from consumers just trying to get ahead. Not just USC, but Harvard and MIT, and Yale, and Cal Berkeley, and the University of North Carolina, and Syracuse, and Pepperdine, and many others. Check out the links below to learn more about how this higher ed scheme developed and collapsed. And how this is just the latest wave of edugrift. 

 

Related links:

HurricaneTWOU.com: Digital Protest Exposes Syracuse, USC, Pepperdine, and University of North Carolina in 2U edX Edugrift (2024)

2U-edX crash exposes the latest wave of edugrift (2023)

2U Virus Expands College Meltdown to Elite Universities (2019)

Buyer Beware: Servicemembers, Veterans, and Families Need to Be On Guard with College and Career Choices (2021)

College Meltdown 2.1 (2022)

EdTech Meltdown (2023)  

Erica Gallagher Speaks Out About 2U's Shady Practices at Department of Education Virtual Listening Meeting (2023)

Guild Education: Enablers of Anti-Union Corporations and Subprime College Programs

According to the Harvard Business School, "Guild Education is an education marketplace that connects employers and universities to provide employees with “education as a benefit.” Guild's employer clients include Walmart, Lowe's, Chipotle Mexican Grill, Taco Bell, Disney and Discover Financial. Its education partners include Penn Foster High School, eCornell (part of Cornell University), CSU Global, Purdue University Global (formerly Kaplan University), University of Denver University College, UF Online (part of University of Florida), Johnson and Wales University Online, Brandman University, Bellevue University, and Ancora Education. A majority of Guild's students are working class people of color. The company has been featured in Bloomberg, Forbes, CNBC, the Wall Street Journal, and Inside Higher Education.

History 

(2015) Guild Education founded by Rachel Romer Carlson and Brittany Stich, two Stanford graduates.
(2016) Guild Education raised $8.5 million in Series A funding. They also received an EQUIP grant from the US Department of Education "to provide low-income students with access to new models of education and training." 
(2017) Guild Education raised $20 million dollars in Series B funding. Guild Education teamed up with Lyft to offer programs to its drivers, making Lyft the "First Gig-Economy Company to Provide Access To Education Services to Contractors." Guild also worked with the Denver Public Schools system to help paraprofessionals, most of whom are people of color, become teachers. CEO Rachel Romer Carlson named to the Forbes 30 Under 30 list. 
(2018) Guild Education raised $40 million dollars in Series C funding. Felicis Ventures was a major investor. 
(2019) Guild Education valued at more than a billion dollars, a rare feat for a company founded by women. Guild Education raised $157 million in Series D funding. Investors included General Catalyst, Emerson Collective, Iconiq Capital and Lead Edge Capital. Ken Chenault joined Guild’s Board of Directors. NBA basketball star Stephen Curry also announced that he had invested in Guild Education.
(2020) Guild Education acquired edtech venture consultancy Entangled Group. CEO Rachel Romer Carlson was named a finalist for the EY Entrepreneur of the Year. 
(2021) Guild Education teamed up with online program manager 2U to connect employees with 500 bootcamp programs covering 30 disciplines and with Google to offer Google Career Certificates. It also added Ancora Corporate Training to its group of educational providers. 

Education Assistance Programs

Education assistance programs are used by many large businesses to recruit, retain, and retrain employees and to increase goodwill with former employees and the public. Corporations with these programs, include Walmart (Live Better U), Amazon (Career Choice), McDonald's (Archways to Opportunity) and Kroger (Feed Your Future). According to Wharton College professor Peter Cappelli, only a small percentage of workers actually use these benefits. 

Policy scholar Kelia Washington states that programs like those at Starbucks, Walmart, and Amazon "are limited in their ability to meaningfully increase college access and completion, and, at worst, they can create additional barriers for employees seeking to obtain high-quality, meaningful credentials." She added that "despite what may be advertised, corporate education assistance programs do not meaningfully relieve financial constraints facing employees interested in pursuing a college degree. These programs in fact limit the college and career choices for some of their employees."

Are Unicorns Real? 

Guild Education has gotten a lot of positive press as an innovative company doing good work. But what do we know about its operations? We know several of its high-profile clients (e.g. Walmart, Chipotle Mexican Grill, Taco Bell, The Walt Disney Company, Discover Financial Services, 5 Guys Inc) and educational providers (Penn Foster, University of Arizona Global Campus, Purdue University Global, University of Florida). The edtech startup is said to be valued at $1 Billion + (a unicorn), with annual revenues of $100 Million+. Paul Freedman has stated that Guild could become a $100 Billion company. But how about the real balance sheet? 

Bright Horizons is the company's largest competitor. Bright Horizons is publicly traded (BFAM) and has worked with more than 200 companies, including Home Depot and Goldman Sachs. Instride works with Arizona State University, Starbucks, and Uber. 

While University of Phoenix and EducationDynamics represent the old guard in for-profit education, Guild Education brings the "business model" of higher ed into the 2020s, connecting anti-union companies, low wage labor, and the new "lower ed," producing what appears to be little more than hype.

Leadership and Board Members

Rachel Romer Carlson is the CEO of Guild Education and the grand daughter of former Colorado Governor Roy Romer.  Her father Chris Romer is a lesser known politician who has worked in the oil and gas industry and charter schools.  Natalie McCollough is president and Chief Commercial Officer, Jessica Rusin is Chief Technology Officer, and Suzanne Stoller is the Chief People Officer.  Mae Podesta, VP of Finance and Strategy, is the daughter of DC power broker John Podesta. 

Guild's Board of Directors includes American business executive Kenneth Chenault, Google product innovator Wesley Chan, and Johnny C. Taylor Jr., President and CEO of the Society for Human Resource Management (SHRM). Lisa Sherman, President and CEO of the Ad Council is a board advisor. Michael Horn, co-founder of the Clayton Christensen Institute for Disruptive Innovation, is a senior strategist. Other board members include Annie Kadavy of Redpoint Ventures and Byron Deeter of Bessemer Venture Partners.  

Current Partners

Walmart's program is called Live Better U. Associates have the opportunity to earn a college degree "for just $1 a day." Partners include Penn Foster High School, Southern New Hampshire University, Purdue University Global, University of Florida, Bellevue University, and eCornell. Penn Foster provides online courses in facilities maintenance, industrial maintenance, HVAC/refrigeration, electrical, plumbing and construction. 

Disney's Aspire program partners include Purdue University Global, Southern New Hampshire University, University of Arizona online, University of Central Florida, Valencia College, Brandman University, University of Florida Online, University of Denver University College, Wilmington University and Bellevue University. In 2019, Disney reported "that they had invested $150 million in the Aspire free education program for 90,000 of the company’s cast members." 

Chipotle's program partners with Bellevue University. Wilmington University, Southern New Hampshire University, Brandman University, and Purdue University Global.

Lowes' program partners are Penn Foster High School, Brandman University, Colorado State University School of Business, Wilmington University, and Bellevue University.

Taco Bell's program partners with Brandman University, Johnson and Wales University online, Pathstream, University of Denver, and Wilmington University.

Discover Financial Services' program partners include University of Denver University College, Brandman University, Wilmington University, Bellevue University, and University of Florida Online.

Five Guys' program partners include Penn Foster High School, Brandman University, Southern New Hampshire University, Wilmington University, and Bellevue University.

Education Partners

Ancora Education is a for-profit educator focusing on vocational and technical programs.
Bellevue University is a private university based in Nebraska.
Brandman University is part of the Chapman University system.
eCornell is part of Cornell University, an elite private university.
Pathstream is a "web-based platform for teaching in-demand tech skills for work."
Penn Foster High School is a for-profit online high school owned by Bain Capital.
Purdue University Global, formerly known as Kaplan University, is a part of the Purdue University system.
Southern New Hampshire University is a large non-profit university.
University of Denver University College is a private university.
UF Online is part of the University of Florida state system.
Wilmington University is a private non-profit university based in Delaware.

Competitors

Bright Horizons is the company's largest competitor. Bright Horizons is publicly traded (BFAM) and has worked with more than 200 companies, including Home Depot and Goldman Sachs. Instride works with Arizona State University, Starbucks, and Uber.

Humans Don't (Really) Matter

According to the company, from 2015 to 2019, 400,000 working adults used Guild Education to explore their paths back to school. Guild states that there is a 208 percent return on investment for every one dollar spent on education and that the 90-day retention rate for employees enrolled in Guild is 98 percent versus a 71 percent baseline employee retention rate. In 2018, according to Guild, the Lumina Foundation "agreed to research and measure the impact and effectiveness of the program and will work with the Walmart team to share findings." In 2021, Guild also claims to have "helped working learners avoid more than $363 million in student debt." 

According to the Chronicle of Higher Education, "about 15,000 of 950,000 eligible employees use the $1-a-day tuition benefit." That's only about two percent of Walmart's workforce.  In a piece for EducationDive, CEO Rachel Romer Carlson said about 3 to 5 percent of workers in the Guild programs use the benefits.  

With their other clients, is Guild providing educational services to more than two percent of the eligible workers? And how many workers are completing programs?  From this analysis, and the intentional lack of data, it would appear Guild Education for the most part is acting as an anti-union shill, for corporate PR, gathering personal data, upskilling a few workers, and creating lots of goodwill for Walmart and others.  It's possibly a profitable strategy in a world of growing automation and widening inequality, where working people have little to do with the calculus. 

  

2U Collapse Puts Sallie Mae and SLABS Back on the Radar (Glen McGhee)

The collapse of 2U and its subsidiary edX has put Sallie Mae (SLM) on the radar.  Many of those elite brand certificate programs (under the name Harvard, MIT, Cal Berkeley) were propped up by Sallie Mae private student loans. 

When the adult learners who took these certificate courses from edX did not get better jobs that they were promised, some ended up struggling to pay their loans. Some have defaulted on their loans. And a ripple occurs.  As part of a larger edtech meltdown, and with IT jobs being lost each month, the situation promises to get worse.

As a hedge for SLM, most of these loans are processed into Student Loan Asset-Backed Securities (SLABS) and sold off as assets. Large investors, including pension programs are invested directly or indirectly in this mess.

Sallie Mae Boom and Bust 

Sallie Mae (SLM) is a private lender that has had a number of problems.  Despite being bailed out by the US government and spinning off part of itself, SLM has a poor credit rating that's bad and getting worse. 

In 1972, the Nixon administration created the Student Loan Marketing Association, or “Sallie Mae” — a government-sponsored enterprise empowered by the government to use U.S. Treasury money to buy government-backed student loans from banks. 

As a publicly traded corporation Sallie Mae has benefited from decades of close government connections.

SLM was very profitable (and very predatory to consumers) when there was little oversight, and the US economy was booming. But when the Great Recession hit in 2008, SLM had to be bailed out when the US government purchased billions of dollars in government-backed student loans. After that bailout, Sallie Mae returned to maximizing profitability.  Over the last 5 years, SLM shares have gained 144 percent in value as student borrowers have suffered.   

While the economy is doing well enough for the middle class, that could change for the worse, not just for consumers, but also Sallie Mae. 

Recent Troubles, Troubles Ahead

In July 2024, Moody's changed its outlook on SLM's long-term from stable to negative, The bond ratings were already less than stellar, a Ba1 for senior unsecured notes. Ratings for some of its Student Loan Asset-Backed Securities were downgraded in 2022. 

Help for Student Debtors

For student loan debtors, we recommend joining the Debt Collective and contacting other advocates, including the Student Borrower Protection Center and the Project on Predatory Student Lending.

Related links:

2U Suspended from NASDAQ. Help for USC and UNC Student Loan Debtors.

2U Declares Chapter 11 Bankruptcy. Will Anyone Else Name All The Elite Universities That Were Complicit?

HurricaneTWOU.com: Digital Protest Exposes Syracuse, USC, Pepperdine, and University of North Carolina in 2U edX Edugrift (2024)

2U-edX crash exposes the latest wave of edugrift (2023)

2U Virus Expands College Meltdown to Elite Universities (2019)

Buyer Beware: Servicemembers, Veterans, and Families Need to Be On Guard with College and Career Choices (2021)

College Meltdown 2.1 (2022)

EdTech Meltdown (2023)  

Erica Gallagher Speaks Out About 2U's Shady Practices at Department of Education Virtual Listening Meeting (2023)

A Warning to Colorado State University: Proceed with Caution on Ambow’s HybriU Platform

Colorado State University (CSU), a respected public institution with a strong reputation in research and innovation, is reportedly considering a contract with Ambow Education Holding Ltd. to implement its “HybriU” platform, a hybrid learning technology promising to blend in-person and online education. On the surface, such a partnership might appear to align with CSU’s goals of expanding digital learning and staying competitive in the evolving higher education landscape. But a deeper look reveals serious concerns that warrant public scrutiny and administrative caution.

Ambow’s Controversial Background

Ambow Education, though now marketing itself as a U.S.-based edtech company, has deep and lingering connections to the People’s Republic of China (PRC). Founded in China and once listed on the New York Stock Exchange before being delisted in 2014 due to accounting irregularities and shareholder lawsuits, Ambow has struggled to shake off its past. Despite reincorporating in the Cayman Islands and operating out of a U.S. office, Ambow continues to raise red flags for investors and watchdogs alike.

According to public filings and investigative reports, key members of Ambow’s leadership maintain ties to Chinese state-affiliated organizations. Moreover, questions have emerged around data security, educational quality, and transparency in the firm’s current operations—especially through its HybriU platform.

Potential Risks to CSU and Its Stakeholders

1. National Security and Data Privacy: Given Ambow’s ties to China and the ongoing concerns about intellectual property theft and surveillance, CSU may be exposing sensitive institutional and student data to foreign actors. Universities are high-value targets for cyber-espionage, particularly those with defense-related research contracts. Even the perception of a compromised platform could damage CSU’s credibility and funding.

2. Regulatory and Reputational Risk: The U.S. Department of Education and other federal agencies have heightened scrutiny of foreign influence in American higher education, especially from China. Entering into a formal relationship with a company like Ambow could place CSU in the crosshairs of federal investigators, jeopardizing federal grants and inviting political backlash.

3. Academic Integrity and Pedagogical Standards: The HybriU platform has yet to demonstrate proven results at scale in U.S. higher education. Partnering with a firm that has not established a strong record of academic excellence or technological reliability could compromise the learning experience for CSU students, particularly in a time when online education still faces skepticism.

4. Precedents and Red Flags: Other universities and investors have backed away from Ambow in the past. Its prior delisting, financial opacity, and ownership structure should be viewed as warning signs. If CSU moves forward with this partnership, it may find itself entangled in legal or financial complications that were avoidable with proper due diligence.

A Call for Transparency and Accountability

The Higher Education Inquirer urges CSU’s Board of Governors, faculty leadership, and the broader CSU community to fully vet Ambow before committing to any partnership. This includes:

• Demanding full disclosure of Ambow’s ownership, governance, and data-handling practices.

• Consulting with cybersecurity experts and federal authorities about the risks of foreign influence.

• Engaging students, faculty, and IT professionals in a transparent evaluation process.

• Exploring domestic, more secure edtech alternatives that align with CSU’s values and strategic vision.

Public Warning

At a time when public trust in higher education is under strain and geopolitical tensions continue to rise, it is imperative for public institutions like Colorado State University to make decisions that are not only cost-effective but ethically and strategically sound. Partnering with a company like Ambow, without thorough investigation and community input, could pose unacceptable risks.

The CSU community—and the taxpayers of Colorado—deserve better than a gamble on a platform with questionable affiliations. We urge CSU to reconsider.

College Meltdown 3.0 Could Start Earlier (And End Worse) Than Planned

Chronicling the College Meltdown 

Since 2016, the Higher Education Inquirer has documented the College Meltdown as a series of demographic and business trends leading to lower enrollments and making higher education of decreasing value to working-class and middle-class folks. This despite the commonly-held belief that college is the only way to improve social mobility.  

For more than a dozen years, the College Meltdown has been most visible at for-profit colleges and community colleges, but other non-elite schools and for-profit edtech businesses have also been affected. Some regions, states, and counties have been harder hit than others. Non-elite state universities are becoming increasingly vulnerable. 

Elite schools, on the other hand, do not need students for revenues, at least in the short run.  They depend more on endowments, donations, real estate, government grants, corporate grants, and other sources of income. Elite schools also have more than enough demand for their product even after receiving bad press.    

The perceived value and highly variable real value of higher education has made college less attractive to many working-class consumers and to an increasing number of middle-class consumers--who see it as a risky proposition. Degrees in the humanities and social sciences are becoming a tough sell. Even some STEM degrees may not be valuable for too long.  Public opinion about higher education and the value of higher education has been waning and many degrees, especially graduate degrees, have a negative return on investment. 

Tuition and room and board costs have skyrocketed. Online learning has become more prominent, despite persistent questions about its educational value. 

While college degrees have worked for millions of graduates, student loans have mired millions of other former students, and their families, in long-term debt, doing work in fields they aren't happy with. 

Elite degrees for people in the upper class still make sense though, as status symbols and social sorters. And there are some professions that require degrees for inclusion. But those degrees and the lucrative jobs accompanying them disproportionately go to foreigners and immigrants, and their children--a demographic wave that may draw the ire of folks who have lived in the US for generations and who may have not enjoyed the same opportunities.  

Starting Sooner and Ending Worse

The latest phase of the College Meltdown was supposed to result from a declining number of high school graduates in 2025, something Nathan Grawe projected from lower birth rates following the 2008-2009 recession.

But problems with the federal government's financial aid system may mean that a significant decline in enrollment at non-elite schools starts this fall instead of 2025.  

The College Meltdown may become even worse than planned, in terms of lower enrollment and declining revenues to non-elite schools. Enrollment numbers most assuredly will be worse than Department of Education projections of slow growth until 2030. 

In 2023, we wrote about something few others reported on: that community colleges and state universities would feel more financial pressure from by the flip-side of the Baby Boom: the enormous costs of taking care of the elderly which could drain public coffers that subsidize higher education. This was a phenomenon that should also have been anticipated by higher education policy makers, but is still rarely discussed. Suzanne Mettler graphed this out in Degrees of Inequality a decade ago--and the Government Accountability Office noted the huge projected costs in 2002. 

Related links: 

Starting my new book project: Peak Higher Education (Bryan Alexander)

Long-Term Care:Aging Baby Boom Generation Will Increase Demand and Burden on Federal and State Budgets (Government Accountability Office, 2002)

Forecasting the College Meltdown (2016)

Charting the College Meltdown (2017)

US Department of Education Fails to Recognize College Meltdown (2017)

Community Colleges at the Heart of the College Meltdown (2017)

College Enrollment Continues Decline in Several States (2018) 

The College Dream is Over (Gary Roth, 2020)

The Growth of RoboColleges and Robostudents (2021)

Even Elite Schools Have Subprime Majors (2021)

College Meltdown 2.0 (2022)

State Universities and the College Meltdown (2022) 

"20-20": Many US States Have Seen Enrollment Drops of More Than 20 Percent (2022) 

US Department of Education Projects Increasing Higher Ed Enrollment From 2024-2030. Really?(2022)

EdTech Meltdown (2023) 

Enrollment cliff? What enrollment cliff ? (2023)

Department of Education Fails (Again) to Modify Enrollment Projection (2023)

When Will Higher Education Revenues Peak? (2023)

Baby Boomers Turning 80: The Flip Side of the 2026 Enrollment Cliff (2023)  

The Student Loan Mess Updated: Debt as a Form of Social Control and Political Action (2024)

HEI Investigation: Is Former Chinese Edtech Ambow Education a Threat to US Security?

The Higher Education Inquirer continues to investigate Ambow Education, the parent company of NewSchool of Architecture & Design (NSAD) and HybriU.  HEI has followed Ambow for almost three years, as one of its two US colleges, Bay State College, closed and a second one, NSAD in San Diego has faced financial peril and now faces legal problems, including a possible eviction. We also have watched several questionable events happen with shares of Ambow (AMBO) trading on the  New York Stock Exchange. But our greatest concern is that Ambow still has strong ties to the People's Republic of China, and that its proximity to the Pacific Fleet and its expertise in educational surveillance could pose as a potential threat to US security. As the company fails we believe it could become even more vulnerable to PRC interests. We urge any potential customers or strategic partners to do their due diligence before engaging in business with Ambow Education, NSAD, or HybriU.