Washington Post, you just made the list.
They were already on my list. The only reason why the Washington Post isn’t bankrupt is because they own Kaplan University, which “accounted for 62 percent of the entire company’s revenue and 75 percent of its operating income” in the third quarter of 2010. How do they make all of that money? By targeting low-income students who are able to take out federal loans for an over-priced, low-rate education. Only 28 percent of Kaplan graduates have been able to pay off their loans; to put it into perspective, 54 percent of public college graduates and 56 percent of private college graduates are actively paying off their loans. Kaplan thrives on federal loan money - 90 percent of its income is from federal loans.
That means more than half of the Washington Post Company’s income is funded, essentially, by the
government you and me.
The Washington Post is the 1%.