PITTSBURGH, Feb. 24, 2012 /PRNewswire/ -- Education Management Corporation (NASDAQ: EDMC), one of the largest providers of post-secondary education in North America, today responded to a report issued yesterday by the Senate HELP Committee entitled "Department of Defense Data Reveals For-Profit Colleges Are Taking in The Bulk Of Military Education Benefits," Tony Guida, EDMC's Senior Vice President of External Affairs, released the following statement: "We were surprised to see Education Management Corporation (EDMC) mentioned in Senator Harkin's report on military education benefits. EDMC is not a major recipient of Department of Defense Tuition Assistance (TA) benefits. In fact, Department of Defense TA benefits represented less than 0.1% of net revenues recognized by EDMC in fiscal 2011. Sen. Harkin's report also included a quote from a document provided voluntarily by EDMC to the HELP Committee that suggests that EDMC targets military spouses for their entitlements. As EDMC advised the HELP Committee staff last May, that document was written by a consultant hoping to work with EDMC that EDMC did not retain." About Education ManagementEducation Management Corporation (www.edmc.com) is among the largest providers of private post-secondary education in North America, based on student enrollment and revenue, with a total of 107 locations in 32 U.S. states and Canada. We offer academic programs to our students through campus-based and online instruction, or through a combination of both. We are committed to offering quality academic programs and continuously strive to improve the learning experience for our students. Our educational institutions offer students the opportunity to earn undergraduate and graduate degrees and certain specialized non-degree diplomas in a broad range of disciplines, including design, media arts, health sciences, psychology and behavioral sciences, culinary, fashion, business, education, legal and information technology. SOURCE Education Management Corporation
After meteoric growth in the '90s, for-profit colleges have come under intense government scrutiny that's sent shock waves through the industry. Just ask Corinthian College, Education Management and Career Education.