Forbes has published an eye-opening profile on Elisa Stephens, head of the for-profit Academy of Art University, and her struggles to keep the university’s national chain of schools (which have drawn criticism for poor graduation rates and job placements) afloat.  “This industry was the darling of Wall Street,†says Trace Urdan, a research analyst for Credit Suisse. “But you have a federal government that for the last six and a half years has been very hostile to this sector. The re-regulation of this space has depressed valuations.â€
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