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Betsy Devos to the Rescue: For-profit Colleges See a Savior in Secretary

The rejection letter was harsh.

Page after page, an accrediting agency ticked off all the problems at Virginia College, a large chain of for-profit schools with dwindling enrollment. There would be no seal of approval, the accreditor declared, no imprimatur necessary to participate in the federal student loan program that is the lifeblood of most colleges and universities.

But it turned out that Virginia College — and other for-profit schools — had a friend in high places.