If you’re following the drama around the consumer protection investigation into the business practices & operations of Trump University by former Texas Attorney General now Governor Greg Abbott and do not wish to know if a similar consumer protection investigation into the business practices & operations of Hillary University aka Laureate Education has occurred, then stop reading right now. This story is true and the names will not be changed:

It seems what is good for the goose is good for the gander these days so I performed by own consumer protection investigation into the business practice & operations of Hillary University to determine if Laureate Education had locations in Texas.

My first stop was the website of the United States Securities and Exchange Commission and gasp! —an inspection of the documents filed with the SEC pertaining to the pending IPO of Laureate Education reveal Hillary University has operations in CastroLand and Doggetville, Texas.

That would be San Antonio and Austin, Texas for the Bernie Sanders supporters reading this story.

Page 186 of the prospectus discloses Laureate Education’s  Global Products and Services (GPS) segment has a location in Austin, Texas:

University of St. Augustine for Health Sciences (St. Augustine).  Founded in 1979, St. Augustine offers graduate and doctoral degree and non-degree programs in physical therapy, occupational therapy, orthopedic assistants, education and health sciences. St. Augustine has campus locations in St. Augustine, Florida, San Marcos, California and Austin, Texas.

And leases a facility in San Antonio, Texas:

Our GPS segment has offices at our headquarters location in Baltimore and leases six additional facilities in Columbia, Maryland; Los Angeles, California; Minneapolis, Minnesota; Tempe, Arizona; San Antonio, Texas; and Amsterdam, Netherlands. Our headquarters consists of two leased facilities in Baltimore, Maryland, which are used primarily for office space.

An examination of page 20 of the prospectus reveals Hillary University is in debt—to the tune of $4.6 million dollars—however the real gem is on page 61.

The fact that we have substantial debt could materially adversely affect our ability to raise additional capital to fund our operations and limit our ability to pursue our growth strategy or to react to changes in the economy or our industry.

We have substantial debt.

Our debt could have important negative consequences to our business, including:

• increasing the difficulty of our ability to make payments on our outstanding debt; 

• increasing our vulnerability to general economic and industry conditions because our debt payment obligations may limit our ability to use our cash to respond to or defend against changes in the industry or the economy; 

• requiring a substantial portion of our cash flow from operations to be dedicated to the payment of principal and interest on our indebtedness, therefore reducing our ability to use our cash flow to fund our operations, capital expenditures and future business opportunities or to pay dividends; 

• limiting our ability to obtain additional financing for working capital, capital expenditures, debt service requirements, acquisitions and general corporate or other purposes; 

• limiting our ability to pursue our growth strategy; 

• limiting our ability to adjust to changing market conditions; and 

• placing us at a competitive disadvantage compared to our competitors who are less highly leveraged.

And on page 65—the disclosure you WILL suffer if you purchase of the shares of Class A common stock you purchase in this offering:

You will suffer immediate and substantial dilution in the net tangible book value of the shares of Class A common stock you purchase in this offering.

Exit question: would YOU invest in Hillary University?

And if Hillary University students are struggling to pay back loans, will the consumer protection division of the Texas Attorney General’s office launch an investigation into the business practices & operations of Hillary U?

Update: Pages 101 – 104 in this release of FOIA material to Judicial Watch outlines the engagment of former President Bill Clinton as the Honorary Chancellor of Hillary U. aka Laureate Education